Overview
What is Ameritrust Cdc?
Ameritrust Cdc, located at 111 Main Street Suite 102, Edmonds, WA 98020, is a nonprofit organization dedicated to promoting economic development and job creation. They accomplish this mission by operating the Small Business Administration's "504" Loan Program, a certified initiative that encourages small businesses to grow and thrive. With a team of eight dedicated employees, Ameritrust Cdc plays a crucial role in facilitating this loan program, which ultimately helps small businesses succeed.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Stars)
Ameritrust Cdc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and financial health. With a score of 93%, the organization demonstrates effective governance and compliance with industry standards, as evidenced by its independent board composition and comprehensive financial policies.
The organization excels in maintaining transparency and accountability, with 85% of its board members being independent. This independence, combined with a full score for its financial audit and no reported material diversion of assets, underscores a commitment to ethical practices and responsible financial management.
While Ameritrust Cdc shows remarkable strength in its operational metrics, such as a program expense ratio of 75.55%, which indicates a high percentage of funds directed toward its mission, ongoing monitoring of its liabilities to assets ratio is important for long-term financial stability. Overall, the nonprofit exhibits a robust framework for governance and financial integrity, making it a reliable choice for potential donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Ameritrust Cdc legitimate?
Ameritrust Cdc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ameritrust Cdc 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: $266,029
Professional Fundraising Fees: $0
Other Salaries and Wages: $503,160
For more financial information, click here
What is the mission statement of Ameritrust Cdc?
The Ameritrust CDC's mission is to operate and facilitate the Small Business Administration's 504 Loan Program. This mission aims to promote economic development and job creation for small businesses. The 504 Loan Program, which is certified by the Small Business Administration, encourages economic growth by providing long-term financing for the purchase of real estate and equipment. The Ameritrust CDC's role in this program is to facilitate the process, making it easier for small businesses to access the necessary funds for growth.
Who is the CEO of Ameritrust Cdc?
Kim Willis is the Board Of Director of Ameritrust Cdc.
What is the revenue of Ameritrust Cdc?
Ameritrust Cdc's revenue in 2022 was $1,694,505.
Who are the executives of Ameritrust Cdc and what are their salaries?
The average compensation at Ameritrust Cdc during 2022 was $96,149. There are 8 employees at Ameritrust Cdc.
Here are 13 key members and their salaries:
- Compensation: $206,929
- Related: $0
- Other: $18,780
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $75,631
- Related: $0
- Other: $3,200
- Compensation: $190,398
- Related: $0
- Other: $8,547
- Compensation: $133,708
- Related: $0
- Other: $5,523
- Compensation: $124,204
- Related: $0
- Other: $15,393
- Compensation: $119,450
- Related: $0
- Other: $19,357
- Compensation: $100,835
- Related: $0
- Other: $24,622
Where can I find the form 990 for Ameritrust Cdc?
Ameritrust Cdc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ameritrust Cdc
Ameritrust CDC, as a nonprofit organization, is dedicated to promoting and facilitating the Small Business Administration's 504 Loan Program. This mission aims to encourage economic development and create job opportunities for small businesses. The 504 Loan Program, certified by the Small Business Administration, is operated by Ameritrust CDC. This program is a crucial tool that assists small businesses in securing long-term, fixed-rate financing for real estate and other major fixed assets, thereby fostering growth and job creation. The 504 Loan Program plays a significant role in empowering small businesses, thereby contributing to the overall economic development of the community.
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Impact
October, 2024
Ameritrust CDC plays a vital role in promoting economic development and job creation in the community by administering the "504" Loan Program of the Small Business Administration. This program is designed to support small businesses in accessing the funding necessary for growth and expansion. By facilitating loans that are often more favorable than traditional bank financing, Ameritrust CDC helps small businesses acquire fixed assets, such as real estate and equipment.
The impact of their work resonates throughout the local economy, as the growth of small businesses contributes to job creation and overall community revitalization. By empowering entrepreneurs with the resources they need, Ameritrust CDC fosters an environment where innovation can thrive, ultimately leading to a stronger, more resilient economy in Edmonds and beyond. This focus on community improvement not only enhances the livelihoods of business owners but also benefits employees and the broader community as well.
This information is meant to be a general summary of Ameritrust Cdc. 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: $539
- Program Service Revenue: $1,681,798
- Gross Receipts: $1,694,505
Assets and Liabilities:
- Total Assets: $1,777,009
- Total Liabilities: $620,430
- Net Assets: $1,156,579
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICING INCOME
Revenue
$1,139,767
FEE INCOME
Revenue
$542,031
Organization Details
Founding Year
2007
Phone
(425) 787-6100Principal Officer
Kim Willis
Main Address
111 MAIN STREET SUITE 102, EDMONDS, WA, 98020
NTEE Category
Code: S43 - Community improvement
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