Overview
What is Nglcc Foundation?
The Nglcc Foundation, established in Washington D.C., serves as a supportive entity for the National Gay & Lesbian Chamber of Commerce (NGLCC). Its primary objective is to disseminate informative resources to NGLCC's members and the broader public, focusing on topics that contribute positively to the membership and the community at large. NGLCC is an organization committed to championing the collective business interests of its members, who are primarily gay, lesbian, bisexual, and transgender-owned enterprises (GLBT businesses). The foundation aims to contribute financially or directly to these educational and charitable initiatives undertaken by NGLCC in the future, as its resources allow.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 70% (Two-Star out of Four Stars)
The NGLCC Foundation has received a Two-Star rating from Charity Navigator, with an overall score of 70%. This rating highlights strengths in the organization's governance and transparency, including an independent board comprised of 80% independent members and strong financial oversight practices. The foundation has demonstrated effective program expense management, with an impressive program expense ratio of 99.46%.
However, there are notable limitations in the foundation’s financial health, particularly a concerning liabilities-to-assets ratio of 171.86% and a low fundraising efficiency ratio of $0.002. Additionally, the organization has a negative working capital ratio of -0.20 years, indicating potential liquidity issues. These financial challenges may impact the foundation's ability to sustain its operations and fulfill its mission in the long term.
This AI summary has been generated from information found on Charity Navigator.
Is Nglcc Foundation legitimate?
Nglcc Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Nglcc 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: $47,618
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Nglcc Foundation?
The Nglcc Foundation's mission is to aid NGLCC in disseminating educational information to its members and the broader public. This information is beneficial to the community and aligns with the common business interests of NGLCC, which represents LGBTQ+ businesses. The foundation intends to support NGLCC by funding or directly conducting educational and charitable activities in the future, to the extent of its capabilities. The primary goal is to empower NGLCC's members and contribute positively to the community at large.
Who is the CEO of Nglcc Foundation?
Chance Mitchell is the Co-Founder, Ceo of Nglcc Foundation. The CEO's salary of Nglcc Foundation is $0 and their total compensation is $586,702.
What is the revenue of Nglcc Foundation?
Nglcc Foundation's revenue in 2022 was $2,220,428.
Who are the executives of Nglcc Foundation and what are their salaries?
There 8 volunteers at Nglcc Foundation.
Here are 10 key members and their salaries (Nglcc Foundation's CEO's salary is $0 and their total compensation is $586,702):
- Compensation: $0
- Related: $533,562
- Other: $53,140
- Compensation: $0
- Related: $531,762
- Other: $39,416
- 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
Where can I find the form 990 for Nglcc Foundation?
Nglcc Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Nglcc Foundation
The Nglcc Foundation, an organization aligned with the National Gay & Lesbian Chamber of Commerce (NGLCC), is dedicated to supporting its mission by providing educational resources to its member businesses and the broader community. These resources aim to advance the interests of businesses owned by individuals identifying as gay, lesbian, bisexual, and transgender (GLBT). The Nglcc Foundation fulfills its mission by funding or directly conducting educational and charitable activities in the future, should the resources permit. The foundation's goal is to contribute to the development and growth of these businesses, ultimately benefiting the community at large.
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Impact
October, 2024
The NGLCC Foundation significantly impacts the LGBTQ+ business community by providing essential educational resources that empower gay, lesbian, bisexual, and transgender entrepreneurs. By facilitating access to valuable information, the foundation enhances the skills and knowledge of its members, ultimately contributing to the growth and sustainability of LGBTQ+ businesses.
Focused on promoting common business interests, the foundation conducts initiatives that benefit both members and the broader community. This commitment helps establish a more competitive and resilient network of LGBTQ+ businesses, fostering economic development and community improvement. The educational programs funded or organized by the foundation are designed to address pressing issues, ensuring that members are equipped to navigate challenges and seize opportunities in the business landscape.
Through these efforts, the NGLCC Foundation not only supports individual business growth but also contributes to a more inclusive economy, where diverse voices and perspectives are valued and represented.
This information is meant to be a general summary of Nglcc 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: $2,220,428
Assets and Liabilities:
- Total Assets: $510,440
- Total Liabilities: $877,267
- Net Assets: -$366,827
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Organization Details
Founding Year
2012
Phone
(202) 234-9181Principal Officer
Chance Mitchell
Main Address
1032 15TH ST NW 190, WASHINGTON, DC, 20005
NTEE Category
Code: S12 - Community improvement
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