Overview
What is Local First Arizona Foundation?
The Local First Arizona Foundation is a statewide organization dedicated to fostering a vibrant, inclusive, and sustainable Arizona economy. Their mission involves building equitable systems for local businesses and communities, with a primary focus on supporting entrepreneurship, particularly in low-income or under-resourced communities. In 2022, they offered one-on-one consulting to over 2,900 small and under-resourced businesses. Additionally, they run programs like Fuerza Local Business Accelerator and Executive Leadership, which graduated 105 Spanish-preferred business owners and 25 Black business owners. The foundation provides community and economic development programs and support to people, businesses, and neighborhoods across Arizona, aiming to resource under-served communities in rural and urban settings.
Official website here: www.localfirstazfoundation.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Local First Arizona Foundation has received an impressive Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance, with a score of 96% in this category. The organization excels in several areas, including having a fully independent board and robust financial oversight mechanisms. Its program expense ratio of 95.31% indicates a high level of funding directed towards its mission, ensuring that resources are effectively utilized to support the community.
In terms of culture and community, the foundation scored 94%, showcasing its dedication to gathering and acting on constituent feedback. The organization has implemented effective practices for feedback collection and utilization, achieving perfect scores in these areas. This responsiveness indicates a strong alignment with the needs and expectations of the community it serves.
While the foundation's equity strategies score is commendable at 91%, there is room for improvement in its equity data and policies, where it received slightly lower evaluations. Nevertheless, the overall ratings highlight Local First Arizona Foundation as a well-managed organization that prioritizes transparency and community engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Local First Arizona Foundation legitimate?
Local First Arizona Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Local First Arizona Foundation 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: $145,609
Professional Fundraising Fees: $2,640
Other Salaries and Wages: $2,505,870
For more financial information, click here
Official website here: www.localfirstazfoundation.org/
What is the mission statement of Local First Arizona Foundation?
The Local First Arizona Foundation is a statewide organization dedicated to fostering a more diverse, inclusive, and self-reliant economy across communities of varying sizes. Their mission involves developing innovative programs that channel resources into under-served communities, both rural and urban, thereby improving Arizona's economic future. The foundation aims to establish equitable systems for local businesses and communities, ultimately contributing to a vibrant, inclusive, and sustainable Arizona economy. Their small business programs are designed to encourage entrepreneurship, with a focus on supporting entrepreneurship in low-income or under-resourced communities. In 2022, they provided one-on-one consulting to 2,900 small and under-resourced businesses. Furthermore, their Fuerza Local Business Accelerator and Executive Leadership programs graduated 105 Spanish-preferred business owners from various areas, while their We Rise program provided educational tools and mentorship to 25 Black business owners.
Official website here: www.localfirstazfoundation.org/
Who is the CEO of Local First Arizona Foundation?
Kimber Lanning is the Executive Director of Local First Arizona Foundation.
Official website here: www.localfirstazfoundation.org/
What is the revenue of Local First Arizona Foundation?
Local First Arizona Foundation's revenue in 2022 was $6,889,263.
Official website here: www.localfirstazfoundation.org/
Who are the executives of Local First Arizona Foundation and what are their salaries?
The average compensation at Local First Arizona Foundation during 2022 was $46,517. There are 57 employees and 125 volunteers at Local First Arizona Foundation.
Here are 15 key members and their salaries:
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Official website here: www.localfirstazfoundation.org/
Where can I find the form 990 for Local First Arizona Foundation?
Local First Arizona Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.localfirstazfoundation.org/
Learn more at the official website: www.localfirstazfoundation.org/
Mission Statement of Local First Arizona Foundation
Local First Arizona Foundation, a statewide organization, is dedicated to fostering a more diverse, inclusive, and self-reliant economy across Arizona's communities of all sizes. The foundation achieves this goal by developing innovative programs that direct resources into under-served communities, both rural and urban. These initiatives aim to improve Arizona's economic future, with a particular focus on nurturing entrepreneurship in low-income or under-resourced communities.
In pursuit of this mission, Local First Arizona Foundation provides support to local businesses and communities. Their small business programs are designed to foster entrepreneurship, offering resources and assistance to both aspiring entrepreneurs and established, independently owned businesses. In 2022 alone, they offered one-on-one consulting to over 2,900 small and under-resourced businesses.
The foundation also runs specialized programs to support specific groups. For instance, the Fuerza Local Business Accelerator and Executive Leadership Programs graduated 105 Spanish-preferred business owners from the Greater Phoenix area, Sedona, and Cottonwood, Arizona. Similarly, their WE RISE program provided educational tools and mentorship to 25 Black business owners, helping them strengthen and grow their operations.
In summary, Local First Arizona Foundation is committed to building equitable systems for Arizona's local businesses and communities. Their mission is to cultivate a vibrant, inclusive, and sustainable Arizona economy, providing resources and support to entrepreneurs and existing businesses alike, with a focus on under-resourced communities.
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Impact
October, 2024
Local First Arizona Foundation significantly impacts communities by fostering economic development and creating equitable systems that benefit local businesses and residents across Arizona. The organization focuses on nurturing entrepreneurship particularly in low-income and under-resourced areas, which is vital for building vibrant and inclusive economies.
In 2022 alone, Local First Arizona Foundation offered one-on-one consulting services to 2,900 small and under-resourced businesses, empowering them to strengthen and grow their operations. Their targeted programs, such as the Fuerza Local Business Accelerator and Executive Leadership programs, successfully graduated 105 Spanish-preferred business owners, while the We Rise program provided mentorship and educational resources to 25 Black business owners.
By concentrating on community improvement and resource allocation, Local First Arizona Foundation is helping to drive positive change in both rural and urban settings, ultimately contributing to a sustainable economic future for Arizonans of all backgrounds.
This information is meant to be a general summary of Local First Arizona Foundation. 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: $18,369
- Program Service Revenue: $1,649,364
- Gross Receipts: $6,917,459
Assets and Liabilities:
- Total Assets: $4,151,480
- Total Liabilities: $1,008,478
- Net Assets: $3,143,002
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE FOR SERVICE
Revenue
$1,240,874
PROGRAM SPONSORSHIPS
Revenue
$221,128
PROGRAM EVENT INCOME
Revenue
$187,362
Organization Details
Founding Year
2007
Phone
(602) 956-0909Principal Officer
Kimber Lanning
Main Address
407 E ROOSEVELT STREET, PHOENIX, AZ, 85004
NTEE Category
Code: S31 - Community improvement
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