Overview
What is West Michigan Hispanic Chamber Of Commerce Foundation?
The West Michigan Hispanic Chamber of Commerce Foundation, situated in Grand Rapids, Michigan, is a dedicated nonprofit organization. Its primary mission revolves around revitalizing the Latinx business community by providing education and resources to existing businesses. This is achieved through various initiatives, including fostering the growth of new businesses and generating related employment opportunities. The foundation's activities are geared towards promoting economic development and nurturing the next generation of entrepreneurs within the Latinx community.
Official website here: www.westmihcc.org/foundation
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
The West Michigan Hispanic Chamber Of Commerce Foundation has achieved a Three-Star rating from Charity Navigator, reflecting a solid accountability and finance score of 88%. This score is derived solely from accountability and finance metrics, indicating a strong emphasis on transparency and responsible financial management, which is crucial for donor trust.
The organization demonstrates effective governance with a majority of independent board members, ensuring diverse perspectives and oversight. Their financial practices are commendable, as evidenced by a high program expense ratio of 96.70%, signifying that a large portion of their expenses directly supports their mission. Furthermore, they have policies in place for conflict of interest and have successfully maintained a low material diversion of assets.
However, the foundation does have some limitations, including the absence of a whistleblower policy and gaps in their document retention and destruction policies. While these issues do not significantly detract from their overall score, addressing them could enhance their governance practices and further bolster public confidence in their operations.
This AI summary has been generated from information found on Charity Navigator.
Is West Michigan Hispanic Chamber Of Commerce Foundation legitimate?
West Michigan Hispanic Chamber Of Commerce Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. West Michigan Hispanic Chamber Of Commerce 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.westmihcc.org/foundation
What is the mission statement of West Michigan Hispanic Chamber Of Commerce Foundation?
The West Michigan Hispanic Chamber of Commerce Foundation's mission is centered around promoting economic development. They achieve this by nurturing the next generation of businesses and creating related employment opportunities. This mission is carried out through their business development activities, which are designed to revitalize the Latinx business community by providing education and tools to Latinx businesses.
Official website here: www.westmihcc.org/foundation
Who is the CEO of West Michigan Hispanic Chamber Of Commerce Foundation?
Guillermo Cisneros is the President & of West Michigan Hispanic Chamber Of Commerce Foundation.
Official website here: www.westmihcc.org/foundation
What is the revenue of West Michigan Hispanic Chamber Of Commerce Foundation?
West Michigan Hispanic Chamber Of Commerce Foundation's revenue in 2022 was $743,104.
Official website here: www.westmihcc.org/foundation
Who are the executives of West Michigan Hispanic Chamber Of Commerce Foundation and what are their salaries?
There 12 volunteers at West Michigan Hispanic Chamber Of Commerce Foundation.
Here are 13 key members and their salaries:
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- Related: $114,235
- Other: $22,054
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Official website here: www.westmihcc.org/foundation
Where can I find the form 990 for West Michigan Hispanic Chamber Of Commerce Foundation?
West Michigan Hispanic Chamber Of Commerce Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.westmihcc.org/foundation
Learn more at the official website: www.westmihcc.org/foundation
Mission Statement of West Michigan Hispanic Chamber Of Commerce Foundation
The West Michigan Hispanic Chamber of Commerce Foundation is dedicated to driving economic growth by nurturing the emergence of new businesses and generating related employment opportunities within the community. In essence, its mission is centered around revitalizing the Latinx business sector through educational initiatives and providing essential tools to local businesses. By fostering the next generation of enterprises, the foundation aims to create a thriving and inclusive economic landscape.
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Impact
October, 2024
The West Michigan Hispanic Chamber of Commerce Foundation significantly impacts the economic landscape by fostering new business development and creating employment opportunities within the Latinx community. By focusing on education and equipping Latinx businesses with essential tools, the foundation revitalizes the local business ecosystem. This initiative not only strengthens individual enterprises but also contributes to the broader community by enhancing economic stability and growth in Grand Rapids and the surrounding areas. The foundation's commitment to nurturing the next generation of entrepreneurs plays a crucial role in promoting diversity and inclusivity in the business sector, ultimately benefiting the entire region.
This information is meant to be a general summary of West Michigan Hispanic Chamber Of Commerce 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.
- Gross Receipts: $743,104
Assets and Liabilities:
- Total Assets: $974,760
- Total Liabilities: $473,475
- Net Assets: $501,285
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Organization Details
Founding Year
2017
Phone
(616) 452-3960Principal Officer
Guillermo Cisneros
Main Address
2007 DIVISION AVENUE SOUTH, GRAND RAPIDS, MI, 49507
Website
www.westmihcc.org/foundationNTEE Category
Code: S30 - Community improvement
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