Overview
What is East Lake Initiative?
The East Lake Initiative (ELI) is a nonprofit organization situated in Birmingham, Alabama. With a strong commitment to Jefferson County, ELI engages in comprehensive community development, aiming to make a lasting impact on individuals' lives. By focusing on multiple aspects of an individual's life, they strive for long-term change. Their initiatives include revitalizing neighborhoods through renovating distressed properties, transforming them into quality homes, and offering secure housing options to tenants. As part of this process, ELI facilitates a mentoring relationship, providing financial counseling and other forms of support to help tenants progress towards homeownership. Additionally, ELI operates a Homeownership Program, allowing families to live in ELI-owned apartments for 12 months as they prepare for the journey towards homeownership. With a team of eight dedicated employees, ELI's mission is to build a better community by strategically partnering with families in Jefferson County, establishing a long-term relationship that spans a minimum of 25 years.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
The East Lake Initiative has achieved an 87% score, which reflects a solid performance in the areas of accountability and finance as well as community culture. The organization shows strong governance with 100% of its board members being independent and a perfect score in audit oversight. Its program expense ratio of 74.13% indicates that a significant portion of its budget is dedicated to its programs, which is a positive indicator of its operational effectiveness.
In terms of community engagement, the East Lake Initiative has excelled with top scores in constituent feedback collection and utilization, showing that it values and acts upon the input from those it serves. Additionally, the organization demonstrates a commitment to equity strategies, although it has room for improvement in data collection and policy processes related to equity.
However, a notable limitation is the absence of a whistleblower policy, which may raise concerns about internal accountability measures. Despite this, the overall high scores in both accountability and community culture suggest that East Lake Initiative is managing its resources effectively while maintaining a strong connection with its community.
This AI summary has been generated from information found on Charity Navigator.
Is East Lake Initiative legitimate?
East Lake Initiative is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Lake Initiative 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: $104,287
Professional Fundraising Fees: $0
Other Salaries and Wages: $215,220
For more financial information, click here
What is the mission statement of East Lake Initiative?
The East Lake Initiative (ELI) is dedicated to providing holistic community development within a specified region. They believe that a comprehensive program, aimed at improving various aspects of an individual's life, can lead to long-term change. ELI has pledged to maintain a relationship with the families in the community for a minimum of 25 years, demonstrating their commitment to long-term change and development. Their strategy involves partnering with the community to develop a better overall circumstance for its residents.
Who is the CEO of East Lake Initiative?
Pamela C Bates is the Chairperson of East Lake Initiative.
What is the revenue of East Lake Initiative?
East Lake Initiative's revenue in 2022 was $927,300.
Who are the executives of East Lake Initiative and what are their salaries?
The average compensation at East Lake Initiative during 2022 was $39,938. There are 8 employees and 9 volunteers at East Lake Initiative.
Here are 11 key members and their salaries:
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $46,625
- Related: $0
- Other: $0
- Compensation: $57,662
- Related: $0
- Other: $1,729
Where can I find the form 990 for East Lake Initiative?
East Lake Initiative's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of East Lake Initiative
The East Lake Initiative, a dedicated community development organization, strategically partners with families in Jefferson County for a minimum of 25 years. Their mission is rooted in the belief that holistic programming, aimed at improving various aspects of an individual's life, can lead to long-term change. By committing to a long-term relationship with the community, this nonprofit seeks to provide comprehensive support that can significantly impact the lives of its residents.
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
The East Lake Initiative (ELI) has made a significant impact in Jefferson County through its holistic community development approach. By focusing on multiple areas of individual and family life, ELI aims to create long-term positive change.
A key aspect of ELI's work is housing. The initiative has transformed distressed properties into quality homes, fostering pride in the neighborhood. This not only provides safe and secure housing for families but also opens pathways to homeownership. Through a structured mentorship program, residents receive guidance in financial management and preparation for owning a home, enabling them to transition from renting to owning successfully.
By committing to relationships with families for a minimum of 25 years, ELI emphasizes sustainable community development, allowing for continuous support and development tailored to the needs of the residents. This comprehensive approach has helped to build stronger, more resilient communities in Birmingham, Alabama.
This information is meant to be a general summary of East Lake Initiative. 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: $296,018
- Program Service Revenue: $105,797
- Gross Receipts: $1,096,282
Assets and Liabilities:
- Total Assets: $1,345,660
- Total Liabilities: $2,231
- Net Assets: $1,343,429
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.
RENTAL INCOME
Revenue
$105,682
Organization Details
Founding Year
2010
Phone
(205) 325-2237Principal Officer
Pamela C Bates
Main Address
6523 1ST AVENUE NORTH, BIRMINGHAM, AL, 35206
NTEE Category
Code: L80 - Housing
If you are a representative of East Lake Initiative 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.