Overview
What is Nicaragua Initiative For Community Advancement Inc?
Nicaragua Initiative For Community Advancement Inc, often referred to as Nica, is a nonprofit organization dedicated to improving rural communities in Nicaragua. Their primary focus is on research and development, striving to create sustainable solutions to complex issues. Instead of providing handouts, they empower local communities by implementing programs that enable them to bring about change in their lives and surroundings. One of their key initiatives is an education program called Crea, which aims to elevate these communities further.
Official website here: www.nicafund.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56%, One-Star out of Four Star rating. This rating reflects significant concerns regarding the accountability and financial practices of Nicaragua Initiative For Community Advancement Inc. With a score of 56%, the organization falls short in several key areas, particularly in board independence and governance policies.
The organization demonstrates strengths in its program expense ratio, with 86.18% of its expenditures allocated directly to its programs. Additionally, it has a favorable liabilities to assets ratio of 3.74%, indicating a sound financial basis with minimal liabilities. However, the lack of independent board members, with only one out of ten being independent, raises questions about governance and oversight.
Notably, critical policies such as the conflict of interest and whistleblower policies are missing, which could undermine transparency and accountability. Furthermore, the absence of a document retention and destruction policy is a significant oversight. While the charity meets certain financial health indicators, improvements in governance practices are essential for enhancing its accountability and overall rating.
This AI summary has been generated from information found on Charity Navigator.
Is Nicaragua Initiative For Community Advancement Inc legitimate?
Nicaragua Initiative For Community Advancement Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nicaragua Initiative For Community Advancement Inc 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
Official website here: www.nicafund.org/
What is the mission statement of Nicaragua Initiative For Community Advancement Inc?
Nicaragua Initiative For Community Advancement Inc, often referred to as Nica, is a research and development organization dedicated to improving rural communities in Nicaragua. Instead of providing handouts, Nica implements programs that empower local individuals to bring about change in their own lives and communities. Their primary commitment is to develop sustainable, innovative solutions to complex issues facing these communities. One of their initiatives is an education program called Crea, which is also a part of their mission.
Official website here: www.nicafund.org/
Who is the CEO of Nicaragua Initiative For Community Advancement Inc?
Terri Marlett is the Director, Executive Direct of Nicaragua Initiative For Community Advancement Inc.
Official website here: www.nicafund.org/
What is the revenue of Nicaragua Initiative For Community Advancement Inc?
Nicaragua Initiative For Community Advancement Inc's revenue in 2022 was $92,689.
Official website here: www.nicafund.org/
Who are the executives of Nicaragua Initiative For Community Advancement Inc and what are their salaries?
There 22 volunteers at Nicaragua Initiative For Community Advancement Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.nicafund.org/
Where can I find the form 990 for Nicaragua Initiative For Community Advancement Inc?
Nicaragua Initiative For Community Advancement Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nicafund.org/
Learn more at the official website: www.nicafund.org/
Mission Statement of Nicaragua Initiative For Community Advancement Inc
Nicaragua Initiative For Community Advancement Inc, often referred to as Nica, is a research and development non-governmental organization dedicated to improving the lives of rural communities in Nicaragua. Their mission is to develop sustainable, innovative solutions to complex issues, rather than providing handouts. Nica's commitment extends to an education program called Crea, which empowers locals to create change in their own communities. By avoiding the reliance on external aid, Nica encourages self-sufficiency and community development, ultimately elevating the standard of living in rural Nicaraguan communities.
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Impact
October, 2024
The Nicaragua Initiative for Community Advancement Inc. (NICA) significantly impacts rural communities throughout Nicaragua by developing sustainable and innovative solutions to complex issues. By focusing on creating opportunities rather than providing handouts, NICA empowers locals to instigate meaningful changes in their lives and communities.
Through its education program, Crea, and other initiatives, NICA facilitates skill development, fostering self-sufficiency and resilience among participants. The program's emphasis on research and development ensures that the strategies employed are tailored to the unique challenges faced by these communities, promoting long-term benefits.
This approach not only enhances individual livelihoods but also strengthens community networks, encouraging collaboration and local engagement. As a result, NICA contributes to holistic community advancement that can lead to improved quality of life and sustainable development in rural Nicaragua.
This information is meant to be a general summary of Nicaragua Initiative For Community Advancement Inc. 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: -$8,797
- Gross Receipts: $295,642
Assets and Liabilities:
- Total Assets: $684,051
- Total Liabilities: $25,613
- Net Assets: $658,438
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Organization Details
Founding Year
2006
Phone
(469) 502-3863Principal Officer
Terri Marlett
Main Address
14135 MIDWAY RD G-150, ADDISON, TX, 75001
Website
www.nicafund.org/NTEE Category
Code: Q30 - International
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