Overview
What is Manufacturing Advocacy & Growth Network Inc?
Manufacturing Advocacy & Growth Network Inc, also known as MAGNET, is a dedicated nonprofit organization based in Cleveland, Ohio. They focus on supporting and championing the manufacturing sector in Northeastern Ohio by providing hands-on consulting and engineering services to small and mid-sized manufacturers. Their comprehensive offerings include process innovation, automation, product design and development, quality management, commercialization, sales and marketing, cybersecurity, operations, employee engagement and development, talent pipeline, and start-up services. By combining education and business, MAGNET strives to help manufacturers grow and compete in the region. With a team of 71 employees, they bring expertise and resources to the 98% of start-up to medium-sized manufacturers that contribute significantly to the local economy.
Official website here: www.manufacturingsuccess.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Manufacturing Advocacy & Growth Network Inc has earned a commendable Four-Star rating from Charity Navigator, indicating strong performance in accountability and finance. This score is a reflection of its commitment to transparency and effective governance, highlighted by a fully independent board and robust financial practices. The organization has successfully maintained a high program expense ratio of 82.82%, showcasing its dedication to utilizing funds primarily for its mission-driven programs.
The financial health of Manufacturing Advocacy & Growth Network Inc is further underscored by its impressive liabilities to assets ratio of 15.98%, indicating a solid financial foundation. The presence of comprehensive policies regarding conflicts of interest, whistleblower protections, and document retention demonstrates the organization’s proactive approach to governance and ethical operations.
User feedback has not highlighted any significant limitations or concerns, suggesting that stakeholders have confidence in the organization’s practices and mission. Overall, the high rating and positive indicators point to a well-managed nonprofit that prioritizes accountability and effective use of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Manufacturing Advocacy & Growth Network Inc legitimate?
Manufacturing Advocacy & Growth Network Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Manufacturing Advocacy & Growth Network 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: $1,205,666
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,272,779
For more financial information, click here
Official website here: www.manufacturingsuccess.org
What is the mission statement of Manufacturing Advocacy & Growth Network Inc?
Manufacturing Advocacy & Growth Network Inc is an organization committed to supporting and educating manufacturers in their growth and competitiveness. With a focus on smaller to medium-sized manufacturers, MAGNET offers hands-on assistance, ranging from new product design to operations. As part of the Ohio Manufacturing Extension Partnership (MEP), the network provides consulting and engineering services in areas such as process innovation, automation, product design and development, quality management, commercialization, sales & marketing, and cyber security, among others. By bringing education and business together, MAGNET is creating the manufacturers of tomorrow.
Official website here: www.manufacturingsuccess.org
Who is the CEO of Manufacturing Advocacy & Growth Network Inc?
Ethan Karp is the CEO of Manufacturing Advocacy & Growth Network Inc The CEO's salary of Manufacturing Advocacy & Growth Network Inc is $441,912 and their total compensation is $469,339.
Official website here: www.manufacturingsuccess.org
What is the revenue of Manufacturing Advocacy & Growth Network Inc?
Manufacturing Advocacy & Growth Network Inc's revenue in 2023 was $18,139,042.
Official website here: www.manufacturingsuccess.org
Who are the executives of Manufacturing Advocacy & Growth Network Inc and what are their salaries?
The average compensation at Manufacturing Advocacy & Growth Network Inc during 2023 was $64,452. There are 85 employees and 23 volunteers at Manufacturing Advocacy & Growth Network Inc.
Here are 35 key members and their salaries (Manufacturing Advocacy & Growth Network Inc's CEO's salary is $441,912 and their total compensation is $469,339):
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- Compensation: $441,912
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- Other: $13,145
Official website here: www.manufacturingsuccess.org
Where can I find the form 990 for Manufacturing Advocacy & Growth Network Inc?
Manufacturing Advocacy & Growth Network Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.manufacturingsuccess.org
Learn more at the official website: www.manufacturingsuccess.org
Mission Statement of Manufacturing Advocacy & Growth Network Inc
Manufacturing Advocacy & Growth Network Inc, also known as MAGNET, is a dedicated organization that helps manufacturers in Northeast Ohio grow and compete. With a focus on the 98% of small and medium-sized manufacturers that form the backbone of the economy, MAGNET offers hands-on support ranging from new product design to operations.
MAGNET's mission is to champion manufacturing in Ohio and provide essential services to manufacturers. As part of the Ohio Manufacturing Extension Partnership (MEP), the organization offers consulting and engineering services to enhance the competitiveness of small and medium-sized manufacturers in the region. These services encompass process innovation, automation, product design and development, quality management, commercialization, sales and marketing, cyber security, employee engagement, and talent pipeline development, among others.
MAGNET's role extends beyond direct support to manufacturing businesses. The organization also plays a crucial advocacy role for the manufacturing sector in Ohio. By bringing education and business together, MAGNET creates tomorrow's manufacturers and champions the growth of manufacturing in the region.
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Impact
October, 2024
Manufacturing Advocacy & Growth Network Inc (MAGNET) profoundly impacts the manufacturing landscape in Northeast Ohio by empowering small and mid-sized manufacturers to thrive in a competitive environment. By providing hands-on support and a wide range of consulting services, MAGNET helps businesses enhance their operations and foster innovation.
Their growth services cover essential areas such as process innovation, automation, product design and development, quality management, commercialization, and employee engagement. Through targeted assistance, MAGNET not only aids manufacturers in improving their operational efficiencies but also enhances their capacity to develop and retain talent, ensuring a strong workforce for the future.
MAGNET plays a pivotal role in fostering a robust manufacturing ecosystem by championing the sector, driving community improvement, and connecting businesses with the necessary resources and education to adapt to changing market conditions. This commitment to supporting manufacturers not only strengthens the local economy but also contributes to the overall vitality of the manufacturing industry in Ohio. By focusing on the needs of startups and medium-sized enterprises, MAGNET helps ensure that these vital economic drivers can navigate challenges and seize new opportunities in an ever-evolving landscape.
This information is meant to be a general summary of Manufacturing Advocacy & Growth Network 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 2023.
- Investment Income: $93,179
- Program Service Revenue: $6,921,696
- Gross Receipts: $18,139,042
Assets and Liabilities:
- Total Assets: $22,665,805
- Total Liabilities: $4,449,836
- Net Assets: $18,215,969
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TALENT
Revenue
$3,186,309
INDUSTRIAL REVENUE
Revenue
$2,971,672
OTHER REVENUE
Revenue
$667,156
RENTAL REVENUE
Revenue
$96,559
Organization Details
Founding Year
1984
Principal Officer
Ed Kneitel
Website
www.manufacturingsuccess.orgNTEE Category
Code: S110 - Community improvement
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