Overview
What is Neighborhood Self Employment Initiative Inc?
Neighborhood Self Employment Initiative Inc, operating as the Business Ownership Initiative of Indiana Inc, is a nonprofit organization based in Indianapolis, Indiana. Their primary mission is to empower local residents to establish and grow businesses by offering a range of resources and support. This includes personalized business coaching, free of charge, provided by qualified professionals. They also offer business training workshops and online courses, covering various topics such as marketing and financial analysis. Furthermore, the organization offers micro loans ranging from $1,000 to over $100,000 for start-ups and existing businesses. Their Women's Business Center, a collaborative program with the U.S. Small Business Administration, specifically supports women entrepreneurs, providing education, resources, and access to capital. With a team of 9 individuals, the Business Ownership Initiative of Indiana Inc is committed to fostering business growth and success in the Central Indiana metropolitan area.
Official website here: www.businessownership.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Neighborhood Self Employment Initiative Inc has received a solid Three-Star rating from Charity Navigator, reflecting its strong performance in Accountability & Finance. The organization's overall score of 81% is based entirely on this beacon score, indicating careful management of funds and operations. This high rating suggests that the nonprofit demonstrates a commitment to transparency and effective governance.
One of the standout features of the organization is its strong independent board makeup, with all eight board members being independent, which contributes to effective oversight. Additionally, the organization excels in its financial practices, receiving full marks for its audit and oversight committee, conflict of interest policy, and whistleblower policy. Furthermore, it shows a high program expense ratio of 97.57%, indicating that a significant majority of its funds are directed towards its mission-driven programs.
However, the organization has room for improvement in managing its liabilities, as indicated by a liabilities to assets ratio of 64.51%, which only earned it a partial score in that area. While its overall financial management is commendable, addressing this aspect could enhance its stability and operational effectiveness in the long run.
This AI summary has been generated from information found on Charity Navigator.
Is Neighborhood Self Employment Initiative Inc legitimate?
Neighborhood Self Employment Initiative Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Neighborhood Self Employment Initiative 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: $36,222
Professional Fundraising Fees: $0
Other Salaries and Wages: $589,721
For more financial information, click here
Official website here: www.businessownership.org
What is the mission statement of Neighborhood Self Employment Initiative Inc?
The Neighborhood Self Employment Initiative Inc is dedicated to assisting individuals in Central Indiana in starting and growing their own businesses. They accomplish this through various means, such as offering one-on-one coaching, conducting workshops, and providing access to capital. The organization's mission extends to Indiana's business ownership initiative, which aims to support emerging and existing business owners in the nine-county Indianapolis metropolitan area. Their services include micro-lending, business training classes and workshops, one-on-one business counseling, life coaching, mentoring, and assistance in securing financial resources.
Official website here: www.businessownership.org
Who is the CEO of Neighborhood Self Employment Initiative Inc?
Unavailable
Official website here: www.businessownership.org
What is the revenue of Neighborhood Self Employment Initiative Inc?
Neighborhood Self Employment Initiative Inc's revenue in 2022 was $848,057.
Official website here: www.businessownership.org
Who are the executives of Neighborhood Self Employment Initiative Inc and what are their salaries?
The average compensation at Neighborhood Self Employment Initiative Inc during 2022 was $69,549. There are 9 employees and 30 volunteers at Neighborhood Self Employment Initiative Inc.
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- Compensation: $30,533
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- Other: $5,689
Official website here: www.businessownership.org
Where can I find the form 990 for Neighborhood Self Employment Initiative Inc?
Neighborhood Self Employment Initiative Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.businessownership.org
Learn more at the official website: www.businessownership.org
Mission Statement of Neighborhood Self Employment Initiative Inc
Neighborhood Self Employment Initiative Inc, a mission-driven organization, is dedicated to assisting individuals in Central Indiana in growing and launching their own businesses. They achieve this through a range of services, including one-on-one coaching, workshops, and access to capital. This business ownership initiative in Indiana aims to support both emerging and established business owners within the nine-county Indianapolis metropolitan area. The services they offer are comprehensive, encompassing micro lending, business-training classes and workshops, one-to-one business counseling, life coaching, mentoring, and assistance in locating and obtaining financial resources.
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Impact
October, 2024
The Neighborhood Self Employment Initiative Inc. significantly contributes to the economic development of Central Indiana by empowering individuals to start and grow their own businesses. By offering free one-on-one coaching, the initiative provides personalized support tailored to the unique challenges facing each entrepreneur. This personalized approach helps to demystify the business-building process, enabling aspiring business owners to transform their ideas into viable enterprises.
Workshops and training courses cover essential topics such as marketing, financial management, and business planning, equipping entrepreneurs with the knowledge they need to succeed. The organization's collaboration with the Central Indiana Women's Business Center enhances its impact by specifically promoting the creation and growth of women-led businesses, fostering diversity and inclusivity in local entrepreneurship.
Access to capital is another critical area where the initiative makes a difference. By providing microloans ranging from $1,000 to over $100,000, it helps entrepreneurs bridge the funding gap often faced when launching or expanding their businesses. This financial support, coupled with expert guidance, creates a supportive environment where both new and existing businesses can thrive.
Overall, the Neighborhood Self Employment Initiative Inc. plays a vital role in community improvement by fostering economic independence, creating jobs, and stimulating local economies across the nine-county Indianapolis metropolitan area.
This information is meant to be a general summary of Neighborhood Self Employment Initiative 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.
- Program Service Revenue: $333,714
- Gross Receipts: $848,057
Assets and Liabilities:
- Total Assets: $8,162,575
- Total Liabilities: $5,266,002
- Net Assets: $2,896,573
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE CONTRACT REVENUE
Revenue
$130,936
INTEREST INCOME FROM MICROLOANS
Revenue
$202,778
Organization Details
Founding Year
1997
Phone
(317) 464-2258Main Address
111 Monument Circle 1950, Indianapolis, IN, 46204
Website
www.businessownership.orgNTEE Category
Code: S20 - Community improvement
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