Overview
What is North Philadelphia Financial Partnership Neighborhood Progress Fund?
The North Philadelphia Financial Partnership Neighborhood Progress Fund is a nonprofit organization situated at 1300 W Lehigh Avenue, Philadelphia, Pennsylvania 19132. With a team of three dedicated individuals, their primary mission is to promote economic empowerment and financial self-sufficiency among the residents living in distressed communities within Philadelphia. They achieve this by offering debt and equity financing to entrepreneurs, businesses, and non-profit organizations, encouraging them to establish or relocate within these areas. The goal is to foster growth and development within these communities, ultimately improving the overall living standards of its residents.
Official website here: www.npfp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
The North Philadelphia Financial Partnership Neighborhood Progress Fund has received a solid Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 88% overall, indicating effective management of resources. This rating is based entirely on its accountability and finance metrics, which showcase a commitment to transparency and ethical practices.
The organization excels in having a fully independent board, achieving the highest score possible in both board member independence and size. Their financial oversight is robust, with a proper audit committee in place and no reported material diversions of assets. Additionally, the presence of essential policies, such as conflict of interest and documentation of board meeting minutes, reinforces their governance quality.
However, there are areas for improvement, particularly the absence of a whistleblower policy and document retention and destruction protocols, which scored zero points. Despite these limitations, the organization demonstrates a high program expense ratio of 74.66%, indicating that a significant portion of its budget is directed towards its mission-related activities. Overall, the North Philadelphia Financial Partnership shows promise in its financial health and governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is North Philadelphia Financial Partnership Neighborhood Progress Fund legitimate?
North Philadelphia Financial Partnership Neighborhood Progress Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. North Philadelphia Financial Partnership Neighborhood Progress Fund 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: $161,002
Professional Fundraising Fees: $0
Other Salaries and Wages: $136,829
For more financial information, click here
Official website here: www.npfp.org
What is the mission statement of North Philadelphia Financial Partnership Neighborhood Progress Fund?
The North Philadelphia Financial Partnership Neighborhood Progress Fund aims to promote economic empowerment and financial self-sufficiency among residents living in distressed communities. This is achieved by providing debt and equity financing to entrepreneurs, businesses, and non-profit organizations, either currently located or seeking to establish themselves within these communities. The ultimate goal is to stimulate economic growth and improve the overall livelihood of the community members.
Official website here: www.npfp.org
Who is the CEO of North Philadelphia Financial Partnership Neighborhood Progress Fund?
Larrico Owens is the Chair of North Philadelphia Financial Partnership Neighborhood Progress Fund.
Official website here: www.npfp.org
What is the revenue of North Philadelphia Financial Partnership Neighborhood Progress Fund?
North Philadelphia Financial Partnership Neighborhood Progress Fund's revenue in 2022 was $1,165,501.
Official website here: www.npfp.org
Who are the executives of North Philadelphia Financial Partnership Neighborhood Progress Fund and what are their salaries?
The average compensation at North Philadelphia Financial Partnership Neighborhood Progress Fund during 2022 was $99,277. There are 3 employees and 8 volunteers at North Philadelphia Financial Partnership Neighborhood Progress Fund.
Here are 9 key members and their salaries:
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- Compensation: $155,165
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- Other: $2,600
Official website here: www.npfp.org
Where can I find the form 990 for North Philadelphia Financial Partnership Neighborhood Progress Fund?
North Philadelphia Financial Partnership Neighborhood Progress Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.npfp.org
Learn more at the official website: www.npfp.org
Mission Statement of North Philadelphia Financial Partnership Neighborhood Progress Fund
The North Philadelphia Financial Partnership Neighborhood Progress Fund is dedicated to promoting economic empowerment and financial self-sufficiency among the residents residing in distressed communities within Philadelphia. This non-profit organization operates with a mission to facilitate this change by providing debt and equity financing to entrepreneurs, businesses, and non-profit organizations. By offering this financial assistance, the North Philadelphia Financial Partnership Neighborhood Progress Fund aims to support entities that are either currently based or wish to establish themselves within the distressed communities of Philadelphia. The ultimate goal is to foster growth and development within these communities, thereby improving the overall living standards and financial stability of its residents.
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Impact
October, 2024
The North Philadelphia Financial Partnership Neighborhood Progress Fund plays a critical role in fostering economic empowerment and financial self-sufficiency for residents in distressed communities of Philadelphia. By providing essential debt and equity financing, it supports entrepreneurs, businesses, and nonprofit organizations seeking to establish or expand their operations within these underserved areas.
This funding not only stimulates local economic growth but also helps create jobs and improve overall community well-being. Through its initiatives, the Partnership facilitates opportunities that enable individuals and organizations to thrive, ultimately contributing to the revitalization of North Philadelphia's neighborhoods and enhancing the quality of life for residents. Its impact is seen in the development of local enterprises, increased economic activity, and stronger, more resilient communities.
This information is meant to be a general summary of North Philadelphia Financial Partnership Neighborhood Progress Fund. 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: $156,990
- Program Service Revenue: $163,048
- Gross Receipts: $1,839,668
Assets and Liabilities:
- Total Assets: $6,683,434
- Total Liabilities: $110,480
- Net Assets: $6,572,954
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$141,855
RECOVERY OF EXPENSES
Revenue
$20,000
LOAN ORIGINATION FEES
Revenue
$1,027
OTHER INCOME
Revenue
$166
Organization Details
Founding Year
1996
Phone
(215) 232-0516Principal Officer
Larrico Owens
Main Address
1300 W LEHIGH AVENUE 100, PHILADELPHIA, PA, 19132
Website
www.npfp.orgNTEE Category
Code: S310 - Community improvement
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