Overview
What is Oakland Renaissance Nmtc Inc C/O City Of Oakland?
Oakland Renaissance Nmtc Inc C/O City Of Oakland is a nonprofit organization situated in Oakland, California, specifically at 250 Frank H Ogawa Plaza, 5313. Their mission is to serve low-income communities and individuals within Oakland by fostering economic development and job creation. They achieve this by leveraging the New Markets Tax Credit Program (IRC 45D), securing awards from the CDFI Fund, and utilizing these funds through subsidiary community development entities (sub-CDE) to finance community development projects in the city's low-income areas. By doing so, they aim to improve the living conditions and economic opportunities for those residing in these communities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74% (Two-Star out of Four Star rating)
Oakland Renaissance Nmtc Inc C/O City Of Oakland has received a Two-Star rating from Charity Navigator, indicating an average performance in accountability and finance. The organization shows a solid program expense ratio of 87.42%, reflecting a commitment to directing resources towards its programs. However, the lack of independent board members has negatively impacted its overall score, which highlights potential governance concerns.
The organization has implemented several strong policies, including a conflict of interest policy, a whistleblower policy, and document retention practices, all of which were positively rated. However, it has received low marks for transparency, as it is missing its website and tax forms, which may hinder public trust and accessibility to information regarding its operations.
Overall, while Oakland Renaissance Nmtc Inc demonstrates strengths in program spending and policy structure, its governance and transparency issues warrant further attention and improvement for a more favorable rating in the future.
This AI summary has been generated from information found on Charity Navigator.
Is Oakland Renaissance Nmtc Inc C/O City Of Oakland legitimate?
Oakland Renaissance Nmtc Inc C/O City Of Oakland is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oakland Renaissance Nmtc Inc C/O City Of Oakland submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Oakland Renaissance Nmtc Inc C/O City Of Oakland?
The mission of Oakland Renaissance Nmtc Inc, an organization serving low-income communities, is to foster economic development and create job opportunities within these communities. They achieve this by utilizing the New Market Tax Credit Program (IRC 45D). By receiving awards of New Markets Tax Credits from the CDFI Fund, they finance community development projects in low-income areas through subsidiary community development entities (Sub-CDEs). The organization's goal is to positively impact the lives of low-income individuals by promoting growth and development in their communities.
Who is the CEO of Oakland Renaissance Nmtc Inc C/O City Of Oakland?
Jens Hillmer is the Member of Oakland Renaissance Nmtc Inc C/O City Of Oakland.
What is the revenue of Oakland Renaissance Nmtc Inc C/O City Of Oakland?
Oakland Renaissance Nmtc Inc C/O City Of Oakland's revenue in 2022 was $196,114.
Who are the executives of Oakland Renaissance Nmtc Inc C/O City Of Oakland and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $164,760
- Other: $109,715
- Compensation: $0
- Related: $165,219
- Other: $110,526
- Compensation: $0
- Related: $261,293
- Other: $106,952
- Compensation: $0
- Related: $236,209
- Other: $107,014
- Compensation: $0
- Related: $165,268
- Other: $90,548
- Compensation: $0
- Related: $129,528
- Other: $95,686
Where can I find the form 990 for Oakland Renaissance Nmtc Inc C/O City Of Oakland?
Oakland Renaissance Nmtc Inc C/O City Of Oakland's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Oakland Renaissance Nmtc Inc C/O City Of Oakland
Oakland Renaissance Nmtc Inc, a nonprofit organization, is committed to serving low-income communities and individuals in Oakland, California. Their mission is to stimulate economic development and job creation within these communities, utilizing the New Markets Tax Credit Program (IRC 45D). The organization achieves this goal by obtaining awards of New Markets Tax Credits from the CDFI Fund and utilizing these funds to finance community development projects through subsidiary Community Development Entities (Sub-CDEs). By implementing these strategies, Oakland Renaissance Nmtc Inc contributes to the betterment of low-income communities in Oakland, fostering growth and opportunities for its residents.
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Impact
October, 2024
Oakland Renaissance Nmtc Inc C/O City Of Oakland has a significant impact on the economic landscape of low-income communities in Oakland, California. By leveraging the New Market Tax Credit program, the organization actively promotes economic development and job creation. The financing of community development projects through awarded tax credits allows for the revitalization of underserved areas, facilitating investments in local businesses, infrastructure, and services.
This focus on community development not only addresses immediate economic needs but also fosters long-term sustainability, helping to elevate the living standards of low-income residents. Through these initiatives, the organization plays a crucial role in enhancing opportunities for employment, entrepreneurship, and overall community improvement, making a tangible difference in the lives of those who reside in these neighborhoods.
This information is meant to be a general summary of Oakland Renaissance Nmtc Inc C/O City Of Oakland. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $196,114
- Gross Receipts: $196,114
Assets and Liabilities:
- Total Assets: $1,547,705
- Total Liabilities: $44,313
- Net Assets: $1,503,392
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NMTC FEE INCOME
Revenue
$185,329
REIMBURSEMENT INCOME
Revenue
$10,741
FLOW THROUGH INCOME FR
Revenue
$44
Organization Details
Founding Year
2004
Phone
(510) 238-7362Principal Officer
Jens Hillmer
Main Address
250 FRANK H OGAWA PLAZA 5313, OAKLAND, CA, 94612
NTEE Category
Code: S20 - Community improvement
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