Overview
What is Microgrants?
Microgrants is a nonprofit organization situated in Minneapolis, Minnesota. Their primary mission is to foster economic self-sufficiency by providing strategic grants to low-income individuals with potential. They achieve this goal through 50 partner agencies, offering financial assistance in the form of grants for transportation, education, and small business ventures. With a small team of seven employees, Microgrants aims to empower individuals and contribute to their overall well-being.
Official website here: www.microgrants.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95% (Four-Star out of Four Star rating)
Microgrants has received an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial management. The charity's high score in Accountability & Finance highlights its effective governance practices and financial transparency, with 96 points awarded for various metrics including an independent board and solid financial oversight. Moreover, a significant portion of donations is allocated directly to programs, demonstrating a focus on maximizing the impact of contributions.
User feedback from GreatNonprofits echoes this sentiment, with reviewers praising the organization for its efficiency in utilizing funds. One volunteer noted that over 80% of donations go directly towards helping individuals find employment and escape poverty, which underscores the charity's mission of providing meaningful support to those in need. The positive reviews suggest a strong community impact and satisfaction among stakeholders involved with the organization.
While the ratings and reviews are highly favorable, the data does not indicate any specific limitations or areas for improvement associated with Microgrants. Overall, the high ratings and positive user experiences reflect a well-managed nonprofit committed to its mission of helping individuals achieve financial independence.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Microgrants legitimate?
Microgrants is a legitimate nonprofit organization registered as a 501(c)(3) entity. Microgrants 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
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For more financial information, click here
Official website here: www.microgrants.net
What is the mission statement of Microgrants?
Microgrants' mission is to encourage economic self-sufficiency among low-income individuals with potential. They accomplish this by strategically dispensing grants through partner agencies. These grants are primarily used for transportation, education, and small business ventures. The eligible recipients are identified through a network of 50 partner agencies.
Official website here: www.microgrants.net
Who is the CEO of Microgrants?
Donald H Samuels is the Ceo of Microgrants. The CEO's salary of Microgrants is $77,045 and their total compensation is $77,045.
Official website here: www.microgrants.net
What is the revenue of Microgrants?
Microgrants's revenue in 2022 was $1,216,231.
Official website here: www.microgrants.net
Who are the executives of Microgrants and what are their salaries?
There are 7 employees at Microgrants.
Here are 10 key members and their salaries (Microgrants's CEO's salary is $77,045 and their total compensation is $77,045):
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Official website here: www.microgrants.net
Where can I find the form 990 for Microgrants?
Microgrants's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.microgrants.net
Learn more at the official website: www.microgrants.net
Mission Statement of Microgrants
Microgrants, an organization, is dedicated to fostering economic self-sufficiency among low-income individuals by strategically distributing grants through partner agencies. Their mission is to identify potential individuals in need and provide them with financial assistance in the form of grants, specifically for transportation, education, and small business ventures. By doing so, Microgrants aims to empower these individuals and help them improve their livelihoods, ultimately promoting self-sufficiency.
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Impact
October, 2024
Microgrants has a significant impact on economic self-sufficiency among low-income individuals by providing essential financial assistance in three key areas: transportation, education, and small business development. By offering targeted grants, it enables recipients to overcome barriers that hinder their advancement and empower them to seize opportunities that can transform their lives.
Microgrants identifies potential beneficiaries through a network of 50 partner agencies based in Minneapolis, MN, ensuring that assistance reaches those most in need. This strategic approach not only helps individuals achieve personal and professional goals but also fosters community growth and economic development. Through its targeted support, Microgrants plays a crucial role in lifting individuals out of poverty and promoting sustainable livelihoods.
This information is meant to be a general summary of Microgrants. 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.
- Investment Income: $3,124
- Gross Receipts: $1,216,231
Assets and Liabilities:
- Total Assets: $1,209,820
- Total Liabilities: $46,546
- Net Assets: $1,163,274
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Organization Details
Founding Year
2005
Phone
(612) 200-8174Principal Officer
Donald H Samuels
Main Address
100 NORTH SIXTH STREET SUITE 626B, MINNEAPOLIS, MN, 55403
Website
www.microgrants.netNTEE Category
Code: T30 - Philanthropy
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