Overview
What is Woodstock Institute?
Woodstock Institute is a nonprofit organization committed to establishing a fair financial system that empowers lower-income individuals and communities of color to attain economic stability and community growth. Through thorough research, they expose the detrimental effects of financial products and practices on these groups, propose reforms, and advocate for equitable lending and investment opportunities. Furthermore, Woodstock Institute identifies barriers to wealth creation for low-income individuals and communities, engaging in coalition building and advocacy to promote just policies.
Official website here: www.woodstockinst.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Star rating)
The Woodstock Institute has earned a Three-Star rating from Charity Navigator, reflecting an overall score of 82%. This rating is derived entirely from a strong performance in accountability and finance metrics. The organization demonstrates solid governance with a board composed of 92% independent members and has established comprehensive oversight practices, evidenced by a fully audited financial statement process and the absence of material diversion of assets.
Financial strength is indicated by a liabilities to assets ratio of 52.10%, suggesting that the organization maintains a balanced approach to its obligations. However, its program expense ratio stands at 60.60%, which may raise some concerns regarding the portion of expenses dedicated to direct program activities. While this is a positive ratio, there is room for improvement to further enhance its impact in the community.
Overall, Woodstock Institute shows a commitment to transparency and ethical governance, which is reflected in its policies for conflict of interest, document retention, and whistleblower protections. Nevertheless, potential donors and supporters might want to consider the organization's program efficiency as a factor when assessing its effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Woodstock Institute legitimate?
Woodstock Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Woodstock Institute 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: $193,316
Professional Fundraising Fees: $0
Other Salaries and Wages: $588,913
For more financial information, click here
Official website here: www.woodstockinst.org
What is the mission statement of Woodstock Institute?
The Woodstock Institute's mission is centered around establishing a fair financial system. This mission aims to empower lower-income individuals and communities, particularly those of color, to attain economic stability and foster community growth. The organization conducts research to expose the detrimental effects of financial products and practices on these groups. Subsequently, they propose reforms and advocate for equitable lending and investment policies. Furthermore, Woodstock Institute utilizes innovative research to pinpoint obstacles inhibiting wealth creation for low-income individuals and communities, and actively participates in coalition building and advocacy to promote equitable policies.
Official website here: www.woodstockinst.org
Who is the CEO of Woodstock Institute?
Horacio Mendez is the CEO of Woodstock Institute The CEO's salary of Woodstock Institute is $167,901 and their total compensation is $193,316.
Official website here: www.woodstockinst.org
What is the revenue of Woodstock Institute?
Woodstock Institute's revenue in 2023 was $1,537,944.
Official website here: www.woodstockinst.org
Who are the executives of Woodstock Institute and what are their salaries?
The average compensation at Woodstock Institute during 2023 was $78,223. There are 10 employees and 14 volunteers at Woodstock Institute.
Here are 14 key members and their salaries (Woodstock Institute's CEO's salary is $167,901 and their total compensation is $193,316):
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- Compensation: $167,901
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- Other: $25,415
Official website here: www.woodstockinst.org
Where can I find the form 990 for Woodstock Institute?
Woodstock Institute's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.woodstockinst.org
Learn more at the official website: www.woodstockinst.org
Mission Statement of Woodstock Institute
Woodstock Institute, a nonprofit organization, is committed to establishing a fair and just financial system. Their mission is centered around empowering lower-income individuals and communities, as well as those of color, to attain economic security and foster community prosperity. To achieve this goal, Woodstock Institute conducts research to expose the detrimental effects of financial products and practices on these groups. They develop innovative reforms based on their findings and advocate for equitable lending and investment practices.
The organization also identifies and addresses barriers to wealth creation for lower-income individuals and communities. By engaging in coalition building and advocacy, Woodstock Institute promotes policies that promote equity and fairness in the financial sector. In essence, Woodstock Institute works tirelessly to ensure a financial system that is just and inclusive, allowing lower-income individuals and communities of color to thrive and achieve financial stability.
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Impact
October, 2024
Woodstock Institute significantly impacts the financial landscape by advocating for a just system that empowers lower-wealth individuals and communities of color. Through in-depth research, the organization highlights the detrimental effects of financial products and practices on these groups, subsequently proposing model reforms to mitigate these challenges. By identifying barriers to wealth creation, Woodstock Institute engages in coalition building and active advocacy, promoting policies that foster equitable lending and investment. Its efforts contribute to the broader goal of achieving economic security and community prosperity for marginalized populations in Chicago and beyond.
This information is meant to be a general summary of Woodstock Institute. 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: $5,097
- Program Service Revenue: $153,000
- Gross Receipts: $1,537,944
Assets and Liabilities:
- Total Assets: $1,345,374
- Total Liabilities: $701,025
- Net Assets: $644,349
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Service Fees
Revenue
$153,000
Organization Details
Founding Year
1977
Principal Officer
Horacio Mendez
Website
www.woodstockinst.orgNTEE Category
Code: R20 - Civil rights
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