Overview
What is Cooperative Business Assistance Corporation?
Cooperative Business Assistance Corporation is a dedicated economic development organization situated in Camden, New Jersey. Committed to fostering both economic growth and community advancement, it works tirelessly to promote prosperity in the area. The corporation's primary goal is to stimulate development and improve the overall well-being of the community.
Official website here: www.cbaclenders.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement - Overall score: 63% - Two-Star out of Four Star rating
Cooperative Business Assistance Corporation has garnered a "Needs Improvement" rating from Charity Navigator, primarily due to its low program expense ratio of 29.48%, indicating that a significant portion of its resources may not be directed toward its mission-driven programs. However, it excels in accountability and finance, achieving a perfect score of 100% in several governance areas, including having an independent board and maintaining sound oversight practices.
The organization demonstrates strong adherence to best practices in governance, as evidenced by its policies on conflict of interest, whistleblower protections, and the documentation of board meeting minutes. These factors contribute positively to its accountability profile. Nevertheless, the absence of its tax form on its website is a notable gap that could affect transparency and public trust.
While the financial health indicators show a manageable liabilities-to-assets ratio of 55.01%, the low program expense ratio raises concerns about the organization's operational focus. Stakeholders may wish to consider these elements when evaluating the effectiveness and impact of the Cooperative Business Assistance Corporation.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Cooperative Business Assistance Corporation?
It appears that the Cooperative Business Assistance Corporation has received positive feedback from the few users who have left reviews on Facebook. One reviewer expressed deep appreciation for the assistance received in obtaining business loans, noting the challenges faced with traditional banking institutions. They specifically highlighted the corporation's effectiveness in helping them secure two different loans, emphasizing that it would not have been possible without the support provided.
The sentiment conveyed in this review indicates a strong satisfaction with the services offered by the organization. The expression of gratitude towards the staff, particularly for their trust and belief in the reviewer’s business ventures, further underscores the positive impact the nonprofit has had on its clients.
Overall, the limited reviews suggest that the Cooperative Business Assistance Corporation is committed to supporting individuals in need of financial resources for their businesses, delivering worthwhile assistance and fostering trust along the way.
This AI summary has been generated from reviews found on Facebook.
Is Cooperative Business Assistance Corporation legitimate?
Cooperative Business Assistance Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cooperative Business Assistance Corporation 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: $572,700
Professional Fundraising Fees: $0
Other Salaries and Wages: $439,989
For more financial information, click here
Official website here: www.cbaclenders.com
What is the mission statement of Cooperative Business Assistance Corporation?
The Cooperative Business Assistance Corporation, serving as an economic development organization, is committed to fostering both economic and community development. Their mission is geared towards improving the overall well-being of their community by implementing strategies that stimulate economic growth and enhance community livability. While specific details about their strategies and initiatives are not provided, it is clear that their purpose is to contribute positively to their community's economic and social progress.
Official website here: www.cbaclenders.com
Who is the CEO of Cooperative Business Assistance Corporation?
Steven M Winheld is the Cfo of Cooperative Business Assistance Corporation.
Official website here: www.cbaclenders.com
What is the revenue of Cooperative Business Assistance Corporation?
Cooperative Business Assistance Corporation's revenue in 2023 was $3,007,741.
Official website here: www.cbaclenders.com
Who are the executives of Cooperative Business Assistance Corporation and what are their salaries?
The average compensation at Cooperative Business Assistance Corporation during 2023 was $101,269. There are 10 employees at Cooperative Business Assistance Corporation.
Here are 12 key members and their salaries:
- Compensation: $340,226
- Related: $0
- Other: $0
- Compensation: $135,500
- Related: $0
- Other: $0
- Compensation: $116,523
- Related: $0
- Other: $0
- Compensation: $101,687
- 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: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cbaclenders.com
Where can I find the form 990 for Cooperative Business Assistance Corporation?
Cooperative Business Assistance Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cbaclenders.com
Learn more at the official website: www.cbaclenders.com
Mission Statement of Cooperative Business Assistance Corporation
Cooperative Business Assistance Corporation, an economic development organization, is dedicated to promoting both economic and community growth. Their mission, in simple terms, is to foster an environment that encourages prosperity and positively impacts the community. By focusing on economic development, this organization aims to create opportunities for growth and improvement, ultimately contributing to the betterment of the community as a whole.
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Impact
October, 2024
Cooperative Business Assistance Corporation significantly impacts the Camden, NJ community through its focus on economic and community development. By fostering local economic growth, the organization helps create job opportunities and supports the establishment of small businesses. This contributes to community improvement by enhancing the overall quality of life for residents.
Through targeted initiatives, the corporation works to empower local entrepreneurs, offering resources and support that enable them to thrive. This not only stimulates the local economy but also strengthens community ties, as successful businesses can encourage more vibrant, collaborative environments. The emphasis on cooperative models further cultivates a sense of shared responsibility among community members, promoting sustainable practices and collective prosperity. Ultimately, the Cooperative Business Assistance Corporation plays a crucial role in transforming Camden into a more prosperous and resilient community.
This information is meant to be a general summary of Cooperative Business Assistance Corporation. 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 2023.
- Investment Income: $55,505
- Program Service Revenue: $655,888
- Gross Receipts: $3,007,741
Assets and Liabilities:
- Total Assets: $27,073,706
- Total Liabilities: $14,893,730
- Net Assets: $12,179,976
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUYDOWN INTEREST
Revenue
$61,137
INTEREST ON LOANS
Revenue
$545,446
LOAN FEES
Revenue
$4,906
RECOVERY OF BAD DEBT
Revenue
$44,399
Organization Details
Founding Year
1987
Phone
(856) 966-8181Principal Officer
Steven M Winheld
Main Address
328 MARKET STREET, CAMDEN, NJ, 08102
Website
www.cbaclenders.comNTEE Category
Code: S43Z - Community improvement
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