Overview
What is The Northeast Ohio Hispanic Center For Economic Development?
The Northeast Ohio Hispanic Center for Economic Development, located at 2511 Clark Ave, Cleveland, OH 44102, is a nonprofit organization with a mission to bolster and maintain thriving commercial districts within Cleveland. They primarily focus on offering technical assistance to both nascent and established Hispanic businesses in the area. This center actively promotes Hispanic entrepreneurship by employing strategies such as economic development, strategic partnerships, technical assistance, educational business training, and advocacy. With a team of seven dedicated individuals, their goal is to empower the Hispanic business community, thereby contributing to the overall economic growth of the Cleveland area.
Official website here: www.hbcenter.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 91%, Four-Star out of Four Stars
The Northeast Ohio Hispanic Center For Economic Development has achieved a commendable Four-Star rating from Charity Navigator, indicating strong financial health and accountability within the organization. With an impressive Accountability & Finance Score of 92 and a Program Expense Ratio of 86.44%, the center demonstrates a commitment to effectively utilizing funds for its programs. Additionally, the organization benefits from a fully independent board, ensuring unbiased governance and oversight.
While the center shows strengths in many areas, some limitations are noted in its governance policies. Specifically, the absence of a Whistleblower Policy and Document Retention and Destruction policy indicates areas for improvement in transparency and risk management. The center's working capital ratio of 2.72 years suggests a solid buffer for financial stability, but the missing policies could potentially expose the organization to reputational risks.
Overall, the Northeast Ohio Hispanic Center For Economic Development stands out for its efficient program spending and strong financial oversight. However, addressing the identified governance gaps would further enhance its operational integrity and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is The Northeast Ohio Hispanic Center For Economic Development legitimate?
The Northeast Ohio Hispanic Center For Economic Development is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Northeast Ohio Hispanic Center For Economic Development 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: $283,092
For more financial information, click here
Official website here: www.hbcenter.org
What is the mission statement of The Northeast Ohio Hispanic Center For Economic Development?
The Northeast Ohio Hispanic Center for Economic Development aims to promote the growth of Hispanic businesses in a broader context. They accomplish this mission through economic development, strategic partnerships, technical assistance, business educational training, and advocacy. The center's activities also include strengthening and stabilizing commercial districts within cities and providing technical assistance to both start-up and existing Hispanic businesses.
Official website here: www.hbcenter.org
Who is the CEO of The Northeast Ohio Hispanic Center For Economic Development?
Jenice Contreras is the President/Ce of The Northeast Ohio Hispanic Center For Economic Development.
Official website here: www.hbcenter.org
What is the revenue of The Northeast Ohio Hispanic Center For Economic Development?
The Northeast Ohio Hispanic Center For Economic Development's revenue in 2022 was $1,657,200.
Official website here: www.hbcenter.org
Who are the executives of The Northeast Ohio Hispanic Center For Economic Development and what are their salaries?
The average compensation at The Northeast Ohio Hispanic Center For Economic Development during 2022 was $40,442. There are 7 employees at The Northeast Ohio Hispanic Center For Economic Development.
Here are 8 key members and their salaries:
- Compensation: $110,000
- Related: $0
- Other: $20,477
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.hbcenter.org
Where can I find the form 990 for The Northeast Ohio Hispanic Center For Economic Development?
The Northeast Ohio Hispanic Center For Economic Development's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hbcenter.org
Learn more at the official website: www.hbcenter.org
Mission Statement of The Northeast Ohio Hispanic Center For Economic Development
The Northeast Ohio Hispanic Center for Economic Development is committed to promoting Hispanic businesses in the Cleveland area. This nonprofit organization achieves its mission through various strategies, including economic development, strategic partnerships, technical assistance, business educational training, and advocacy. By doing so, it aims to strengthen and stabilize commercial districts within the city and provide technical assistance to both start-up and established Hispanic businesses. The Center's ultimate goal is to support the growth and success of Hispanic businesses in the Cleveland area, thereby contributing to the overall economic development of the community.
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Impact
October, 2024
The Northeast Ohio Hispanic Center for Economic Development plays a vital role in strengthening the Hispanic business ecosystem in the Cleveland area. By focusing on the development of Latino small businesses, it actively enhances and stabilizes commercial districts within the city. Through its array of technical assistance programs, the center supports both startup and existing Hispanic businesses, ensuring they have the resources and knowledge needed to thrive.
Their mission encompasses economic development, strategic partnerships, and advocacy, which collectively contribute to fostering a robust environment for Hispanic entrepreneurship. Business educational training provided by the center empowers individuals with essential skills and insights, thereby promoting long-term sustainability and success for Hispanic-owned enterprises. Overall, the center significantly impacts community improvement and the local economy by uplifting and advocating for Hispanic businesses.
This information is meant to be a general summary of The Northeast Ohio Hispanic Center For Economic Development. 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.
- Program Service Revenue: $489,886
- Gross Receipts: $1,657,200
Assets and Liabilities:
- Total Assets: $1,787,562
- Total Liabilities: $504,790
- Net Assets: $1,282,772
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACTED SERVICES
Revenue
$206,044
MERCADO
Revenue
$142,213
PROGRAM SUPPORT INCOME
Revenue
$99,763
ADMINISTRATIVE INCOME
Revenue
$41,866
Organization Details
Founding Year
1996
Phone
(216) 281-4422Principal Officer
Jenice Contreras
Main Address
2511 CLARK AVE, CLEVELAND, OH, 44102
Website
www.hbcenter.orgNTEE Category
Code: S30 - Community improvement
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