Overview
What is Manufacturing Renaissance?
Manufacturing Renaissance, identified as Manufacturing Connect (MC), is a community-based nonprofit program situated in Chicago, Illinois. Their primary objective is to inspire, prepare, and support youth and young adults in pursuing career pathways within the manufacturing sector. MC offers high-quality programming, including career exposure, technical training, and work experiences, aiming to help young individuals secure and maintain well-paying manufacturing jobs. The program includes the Young Manufacturers Association (YMA), providing career and peer support to young adults new to the manufacturing industry or interested in starting a career-track job. As of now, MC/YMA has facilitated 323 youth completing 582 work experiences, 238 youth earning 348 industry credentials, and placing 95 young adults in 141 full-time manufacturing jobs with an average retention rate of one year and an hourly wage of $15, plus benefits.
Official website here: www.mfgren.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 66% (Two-Star out of Four Stars)
Manufacturing Renaissance has received a Two-Star rating from Charity Navigator, reflecting a score of 66%. This rating is derived from their Accountability & Finance score, which assesses the organization's financial practices and transparency. A significant strength highlighted is the organization's governance structure, with 100% of board members being independent, ensuring that there is no conflict of interest in decision-making processes.
The organization has strong policies in place, including a conflict of interest policy and a whistleblower policy, both of which are listed and compliant. They also maintain proper documentation for board meeting minutes and have a clear approach to document retention and destruction. However, a notable limitation in their financial metrics is the liabilities to assets ratio, which stands at 123.53%, indicating potential financial risk compared to their assets.
Despite its strong program expense ratio of nearly 70%, which suggests that a significant portion of funds is directed towards programs rather than administrative costs, the high liabilities to assets ratio raises concerns about the organization's overall financial health. It is essential for potential donors and stakeholders to consider these factors when evaluating the sustainability and impact of Manufacturing Renaissance.
This AI summary has been generated from information found on Charity Navigator.
Is Manufacturing Renaissance legitimate?
Manufacturing Renaissance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Manufacturing Renaissance 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: $119,057
Professional Fundraising Fees: $0
Other Salaries and Wages: $614,622
For more financial information, click here
Official website here: www.mfgren.org
What is the mission statement of Manufacturing Renaissance?
Manufacturing Renaissance (MRS) is guided by a comprehensive understanding of sustainable development, as defined by the United Nations. Their mission is grounded in experience and is influenced by several principles, including social justice, leadership development, innovation in wealth creation, respect for workers, communities, and the environment. The organization aims to promote sustainable development in the manufacturing sector, ensuring that it is socially just, fosters leadership, encourages innovation, respects workers' rights, and considers the well-being of communities and the environment.
Official website here: www.mfgren.org
Who is the CEO of Manufacturing Renaissance?
Erica Staley is the Executive Director of Manufacturing Renaissance.
Official website here: www.mfgren.org
What is the revenue of Manufacturing Renaissance?
Manufacturing Renaissance's revenue in 2022 was $1,146,685.
Official website here: www.mfgren.org
Who are the executives of Manufacturing Renaissance and what are their salaries?
The average compensation at Manufacturing Renaissance during 2022 was $61,140. There are 12 employees at Manufacturing Renaissance.
Here are 9 key members and their salaries:
- Compensation: $96,182
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- Other: $18,593
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- Other: $0
Official website here: www.mfgren.org
Where can I find the form 990 for Manufacturing Renaissance?
Manufacturing Renaissance's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mfgren.org
Learn more at the official website: www.mfgren.org
Mission Statement of Manufacturing Renaissance
Manufacturing Renaissance, a nonprofit organization, is guided by a comprehensive understanding of sustainable development, as defined by the United Nations. Its mission is rooted in experience and is shaped by four key principles: social justice, leadership development, innovation in wealth creation, and respect for workers, communities, and the environment. This mission seeks to foster a sustainable approach to manufacturing, prioritizing social justice and the well-being of workers and communities, while also promoting leadership development and innovation in wealth creation. The organization strives to create opportunities in the manufacturing sector, offering high-quality career programming, technical training, and work experiences to youth and young adults, aiming to help them secure and maintain good-paying jobs in the industry.
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Impact
October, 2024
Manufacturing Renaissance is making a significant impact by empowering youth and young adults to pursue careers in manufacturing, thereby addressing both workforce development and economic sustainability. Through its Manufacturing Connect program, it offers high-quality career pathway programming that includes career exposure, technical training, and work experiences. This hands-on approach helps bridge the gap between education and employment, providing young people with the skills and experiences they need to secure good-paying jobs.
The initiative has successfully supported 323 youth in completing 582 work experiences, demonstrating its effectiveness in connecting participants with real-world manufacturing environments. Additionally, it has enabled 238 youth to earn 348 industry credentials, enhancing their employability in a competitive job market. Notably, 95 young adults have secured full-time manufacturing positions, with an impressive one-year retention rate and average earnings of $15 per hour plus benefits.
By focusing on sustainable development principles and social justice, Manufacturing Renaissance promotes respect for workers, their communities, and the environment. This dual focus on economic opportunity and social equity not only uplifts individuals but also nurtures a more resilient and innovative manufacturing sector. In essence, Manufacturing Renaissance is cultivating the next generation of skilled workers while fostering economic empowerment and community growth.
This information is meant to be a general summary of Manufacturing Renaissance. 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: $45,529
- Gross Receipts: $1,146,685
Assets and Liabilities:
- Total Assets: $174,508
- Total Liabilities: $642,724
- Net Assets: -$468,216
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONSULTING
Revenue
$45,529
Organization Details
Founding Year
1982
Principal Officer
Erica Staley
Main Address
3411 W DIVERSEY AVENUE, Chicago, IL, 60647
Website
www.mfgren.orgNTEE Category
Code: V00 - Social research
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