Overview
What is Ncrc Community Development Fund Inc?
Ncrc Community Development Fund Inc is a nonprofit organization situated in Washington D.C., specifically at 740 15th Street NW 400. Their primary focus is to empower minority-owned, women-owned, and low-income-owned businesses through financial assistance. Serving as a lending institution, they provide credit to individuals and businesses with low incomes, thereby contributing to their economic growth and development.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star Rating
Ncrc Community Development Fund Inc has achieved an overall score of 88%, reflecting a strong commitment to accountability and financial management. This rating is based solely on the Accountability & Finance beacon, showcasing the organization's effective governance and transparent operations, which are essential for donor trust and support.
The organization demonstrates notable strengths, including a fully independent board and comprehensive financial oversight mechanisms. With 100% of its board members being independent and a robust audit committee, the nonprofit ensures that decisions are made in the best interest of its mission. Additionally, it maintains a high program expense ratio of 79.48%, indicating that a significant portion of its funding is directed towards its programs rather than administrative costs.
While the Ncrc Community Development Fund Inc exhibits strong accountability practices, its liability-to-assets ratio of 60.20% suggests that there may be some concerns regarding financial leverage. This ratio indicates that a significant portion of its assets is tied up in liabilities, which could impact financial stability. Overall, the organization appears to be effectively managed, but it may need to monitor its financial health closely to sustain its operations in the long term.
This AI summary has been generated from information found on Charity Navigator.
Is Ncrc Community Development Fund Inc legitimate?
Ncrc Community Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ncrc Community Development Fund 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
What is the mission statement of Ncrc Community Development Fund Inc?
Ncrc Community Development Fund Inc serves as a lending institution, extending credit to low-income individuals and families, as well as businesses, with a focus on supporting minority-owned, women-owned, and low-income business owners. Its mission is to promote financial inclusion and economic growth within these communities, providing them with the necessary resources to thrive. By offering credit opportunities, Ncrc Community Development Fund Inc aims to empower individuals and businesses, enabling them to overcome financial barriers and contribute to their local economies.
Who is the CEO of Ncrc Community Development Fund Inc?
Marisa Calderon is the Board Chair of Ncrc Community Development Fund Inc.
What is the revenue of Ncrc Community Development Fund Inc?
Ncrc Community Development Fund Inc's revenue in 2022 was $1,445,810.
Who are the executives of Ncrc Community Development Fund Inc and what are their salaries?
There 7 volunteers at Ncrc Community Development Fund Inc.
Here are 9 key members and their salaries:
- Compensation: $0
- Related: $403,266
- Other: $30,138
- 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: $172,467
- Other: $34,493
- Compensation: $0
- Related: $113,236
- Other: $22,647
Where can I find the form 990 for Ncrc Community Development Fund Inc?
Ncrc Community Development Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ncrc Community Development Fund Inc
Ncrc Community Development Fund Inc, as a lending institution, is dedicated to serving low and moderate-income individuals and families. Its mission is to provide credit to these groups, as well as to low-income businesses. This organization plays a crucial role in supporting economic growth within these communities by offering financial resources.
One of the specific programs offered by Ncrc Community Development Fund Inc is its Small Business Program. This program is designed to assist minority-owned, women-owned, and low-income business owners by providing them with funding. By offering these financial services, the organization aims to foster economic empowerment and stimulate growth within these communities. By doing so, it contributes to a more equitable and inclusive economic landscape.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Ncrc Community Development Fund Inc significantly impacts low and moderate-income individuals and families by providing essential access to credit and financial resources. It focuses on lending to those who often face barriers to traditional banking services, ensuring that financial support is available to underserved populations.
The organization plays a crucial role in fostering economic empowerment through its small business program, which specifically targets minority-owned, women-owned, and low-income-owned businesses. By offering funding and financial assistance, it enables these businesses to thrive, contribute to local economies, and create job opportunities.
Overall, Ncrc Community Development Fund Inc is instrumental in community improvement, helping to build sustainable economic pathways for individuals and families who might otherwise be excluded from financial opportunities.
This information is meant to be a general summary of Ncrc Community Development Fund 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: $18,615
- Program Service Revenue: $1,417,195
- Gross Receipts: $1,445,810
Assets and Liabilities:
- Total Assets: $60,523,002
- Total Liabilities: $36,435,908
- Net Assets: $24,087,094
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST
Revenue
$1,397,007
UNDERWRITING & PROCESS
Revenue
$12,760
PROGRAM SERVICE FEES
Revenue
$7,428
Organization Details
Founding Year
2007
Phone
(202) 628-8866Principal Officer
Marisa Calderon
Main Address
740 15TH STREET NW 400, WASHINGTON, DC, 20005
NTEE Category
Code: S40 - Community improvement
If you are a representative of Ncrc Community Development Fund Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.