Overview
What is The Sequoyah Fund Inc?
The Sequoyah Fund Inc is a nonprofit organization dedicated to fostering economic and social development within the Eastern Band of Cherokee Indians. Located in Cherokee, North Carolina, this organization operates primarily in the seven far western counties of North Carolina and on the Qualla Boundary. Its mission is multifaceted, encompassing support for new business ventures, business expansion, and overall community development. The Sequoyah Fund Inc provides essential business training and technical assistance to local entrepreneurs through workshops and classes, aiming to empower and uplift the community. With a workforce of nine dedicated individuals, this nonprofit organization plays a significant role in the economic growth and social improvement of the Eastern Band of Cherokee Indians.
Official website here: www.sequoyahfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star Rating
The Sequoyah Fund Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to transparency and accountability. With an Accountability & Finance Score of 95 and a Culture & Community Score of 86, the organization demonstrates effective financial management and community engagement. Notably, the charity has a fully independent board and maintains robust financial practices, including no material diversion of assets.
Strengths of The Sequoyah Fund Inc include a high program expense ratio of 77.73%, indicating that a significant portion of its resources is dedicated to its programs. The organization also receives perfect scores in areas related to constituent feedback, ensuring that it actively engages with and considers the needs of its community. Additionally, its impressive working capital ratio of 7.58 years suggests strong financial stability and the ability to sustain operations.
However, one area where the organization may improve is in fundraising efficiency, scoring only 2.5 out of 25 points. This indicates that fundraising efforts could be optimized for better performance. Furthermore, while the organization scores well in equity-related areas, a score of 79 out of 100 suggests there is potential for enhancing its equity strategies and policies. Overall, The Sequoyah Fund Inc is a well-managed nonprofit with strong financial health and effective community involvement.
This AI summary has been generated from information found on Charity Navigator.
Is The Sequoyah Fund Inc legitimate?
The Sequoyah Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Sequoyah 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: $168,972
Professional Fundraising Fees: $0
Other Salaries and Wages: $376,344
For more financial information, click here
Official website here: www.sequoyahfund.org
What is the mission statement of The Sequoyah Fund Inc?
The Sequoyah Fund Inc is dedicated to promoting economic and social improvement for the Eastern Band of Cherokee Indians. To achieve this, the organization supports new business start-ups, encourages business expansion, and contributes to overall community development in specific regions. In addition, they provide business training and technical assistance to entrepreneurs through workshops and classes.
Official website here: www.sequoyahfund.org
Who is the CEO of The Sequoyah Fund Inc?
Eddie Swimmer is the President of The Sequoyah Fund Inc.
Official website here: www.sequoyahfund.org
What is the revenue of The Sequoyah Fund Inc?
The Sequoyah Fund Inc's revenue in 2022 was $1,001,520.
Official website here: www.sequoyahfund.org
Who are the executives of The Sequoyah Fund Inc and what are their salaries?
The average compensation at The Sequoyah Fund Inc during 2022 was $60,591. There are 9 employees and 10 volunteers at The Sequoyah Fund Inc.
Here are 12 key members and their salaries:
- Compensation: $6,000
- Related: $0
- Other: $0
- Compensation: $6,600
- Related: $0
- Other: $0
- Compensation: $6,000
- Related: $0
- Other: $0
- Compensation: $6,600
- Related: $0
- Other: $0
- Compensation: $6,500
- Related: $0
- Other: $0
- Compensation: $6,700
- Related: $0
- Other: $0
- Compensation: $6,600
- Related: $0
- Other: $0
- Compensation: $6,500
- Related: $0
- Other: $0
- Compensation: $5,700
- Related: $0
- Other: $0
- Compensation: $7,150
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $157,829
- Related: $0
- Other: $11,143
Official website here: www.sequoyahfund.org
Where can I find the form 990 for The Sequoyah Fund Inc?
The Sequoyah Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sequoyahfund.org
Learn more at the official website: www.sequoyahfund.org
Mission Statement of The Sequoyah Fund Inc
The Sequoyah Fund Inc is committed to fostering economic and social growth within the Eastern Band of Cherokee Indians. This nonprofit organization plays a significant role in supporting new business ventures, facilitating business expansion, and promoting overall community development in the seven far western counties of North Carolina and on the Qualla Boundary. To further empower the community, The Sequoyah Fund Inc offers business training and technical assistance to entrepreneurs through workshops and classes. By providing these resources, the organization aims to equip local business owners with the necessary skills and knowledge to thrive and contribute to the overall betterment of their community.
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Impact
October, 2024
The Sequoyah Fund Inc significantly enhances the economic and social landscape of the Eastern Band of Cherokee Indians. By supporting new business start-ups and facilitating business expansion, it fosters entrepreneurial growth and job creation in the region. Its initiatives directly contribute to community development across the seven far western counties of North Carolina and the Qualla Boundary.
The organization provides critical resources, offering business training and technical assistance through workshops and classes. This empowers local business owners with the skills and knowledge necessary to succeed, promoting sustainable economic growth. Overall, The Sequoyah Fund Inc plays a vital role in uplifting the community, driving economic stability, and improving the quality of life for its members.
This information is meant to be a general summary of The Sequoyah 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: $19,913
- Program Service Revenue: $552,998
- Gross Receipts: $1,001,520
Assets and Liabilities:
- Total Assets: $10,921,580
- Total Liabilities: $1,425,230
- Net Assets: $9,496,350
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$360,153
LOAN FEES
Revenue
$65,993
TRAINING PROGRAMS
Revenue
$55,342
SALES ART MARKET AND FASHION
Revenue
$46,325
TICKET SALES
Revenue
$9,938
Organization Details
Founding Year
1998
Phone
(828) 359-5003Principal Officer
Eddie Swimmer
Main Address
PO BOX 1200, CHEROKEE, NC, 28719
Website
www.sequoyahfund.orgNTEE Category
Code: S30 - Community improvement
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