Overview
What is Multicultural Foodservice And Hospitality Alliance?
The Multicultural Foodservice and Hospitality Alliance is a nonprofit organization situated in Providence, Rhode Island. Their primary objective is to educate, advocate, and connect with their membership by offering professional development and cultural intelligence training. They aim to promote career and business prospects within member companies for minority and multicultural communities. Additionally, they facilitate connections among industry professionals, providing platforms for career enhancement, informal mentoring, and networking. In essence, their mission is to equip their members with the necessary cultural competencies, insights, and skills to excel in a diverse marketplace, thereby fostering economic benefits through diversity and inclusion in the food and hospitality industry.
Official website here: www.mfha.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 59% (One-Star out of Four Stars)
The Multicultural Foodservice and Hospitality Alliance has received a One-Star rating from Charity Navigator, indicating significant areas for improvement in accountability and finance. The organization demonstrates strengths in governance, such as having a majority of independent board members and effective oversight policies, which are essential for maintaining ethical practices. However, the low overall score reflects critical weaknesses, particularly in financial management and transparency.
Specifically, the organization's liabilities to assets ratio is concerning at 97.87%, suggesting potential financial instability. Additionally, the absence of the tax form on the nonprofit's website raises questions about transparency and accessibility of information for donors and stakeholders. While the program expense ratio is somewhat favorable at 52.35%, it still indicates room for growth in efficiently allocating resources towards its mission.
Overall, while the Multicultural Foodservice and Hospitality Alliance has implemented several strong governance practices, it faces significant challenges in financial health and transparency that it needs to address to improve its rating and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Multicultural Foodservice And Hospitality Alliance legitimate?
Multicultural Foodservice And Hospitality Alliance is a legitimate nonprofit organization registered as a 501(c)(3) entity. Multicultural Foodservice And Hospitality Alliance 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: $217,558
Professional Fundraising Fees: $0
Other Salaries and Wages: $380,841
For more financial information, click here
Official website here: www.mfha.net
What is the mission statement of Multicultural Foodservice And Hospitality Alliance?
The Multicultural Foodservice and Hospitality Alliance aims to serve its members by equipping them with the necessary cultural competencies, insights, and skills. This is accomplished through advocacy, professional development, and training in cultural intelligence. The organization's mission is to help its members thrive in a culturally diverse marketplace. By doing so, they strive to foster economic benefits derived from diversity and inclusion within the food and hospitality industry. The Alliance also facilitates career and business opportunities for minority and multicultural communities and encourages networking among industry professionals.
Official website here: www.mfha.net
Who is the CEO of Multicultural Foodservice And Hospitality Alliance?
Michelle L Korsmo is the Principal Officer of Multicultural Foodservice And Hospitality Alliance. The CEO's salary of Multicultural Foodservice And Hospitality Alliance is $0 and their total compensation is $976,367.
Official website here: www.mfha.net
What is the revenue of Multicultural Foodservice And Hospitality Alliance?
Multicultural Foodservice And Hospitality Alliance's revenue in 2022 was $1,100,647.
Official website here: www.mfha.net
Who are the executives of Multicultural Foodservice And Hospitality Alliance and what are their salaries?
There 3 volunteers at Multicultural Foodservice And Hospitality Alliance.
Here are 9 key members and their salaries (Multicultural Foodservice And Hospitality Alliance's CEO's salary is $0 and their total compensation is $976,367):
- Compensation: $0
- Related: $1,361,384
- Other: $700,584
- Compensation: $0
- Related: $918,617
- Other: $534,219
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $375,368
- Other: $263,231
- Compensation: $0
- Related: $217,558
- Other: $50,929
- Compensation: $0
- Related: $139,568
- Other: $53,391
- Compensation: $0
- Related: $976,367
- Other: $0
Official website here: www.mfha.net
Where can I find the form 990 for Multicultural Foodservice And Hospitality Alliance?
Multicultural Foodservice And Hospitality Alliance's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mfha.net
Learn more at the official website: www.mfha.net
Mission Statement of Multicultural Foodservice And Hospitality Alliance
The Multicultural Foodservice and Hospitality Alliance is dedicated to advancing its members' understanding and proficiency in cultural intelligence within the foodservice and hospitality sector. This nonprofit organization strives to achieve its mission by supplying its members with the necessary cultural competencies, insights, and skills. By doing so, it aims to enhance their ability to excel in a multicultural marketplace. The Alliance endeavors to unlock the economic benefits inherent in diversity and inclusion within the food and hospitality industry. It accomplishes this by fostering connections and delivering solutions that bridge the gap between diverse stakeholders. By providing professional development training, promoting career and business opportunities, and facilitating networking among industry professionals, the Multicultural Foodservice and Hospitality Alliance empowers its members to thrive in a culturally diverse landscape.
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Impact
October, 2024
The Multicultural Foodservice And Hospitality Alliance significantly impacts the foodservice and hospitality industry by fostering cultural intelligence and inclusivity. Through its dedicated efforts to educate and advocate for its members, it enhances the professional development of individuals, enabling them to thrive in a diverse marketplace.
By providing targeted training and resources, the Alliance equips its members with essential cultural competencies, fostering better understanding and collaboration in a sector that increasingly relies on diverse perspectives and experiences. It actively promotes career and business opportunities within member companies, particularly for minority and multicultural communities, ensuring equitable access to advancement in the industry.
Furthermore, the Alliance strengthens connections among industry professionals through informal mentoring and networking opportunities. This not only enhances individual career growth but also enriches the overall industry culture, promoting a sense of community and shared purpose. Overall, the Alliance plays a crucial role in driving economic benefits from diversity and inclusion, ensuring that the foodservice and hospitality sectors can adapt and thrive in a culturally rich environment.
This information is meant to be a general summary of Multicultural Foodservice And Hospitality Alliance. 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: $148,737
- Gross Receipts: $1,100,647
Assets and Liabilities:
- Total Assets: $1,099,914
- Total Liabilities: $1,076,506
- Net Assets: $23,408
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Cultural Intelligence
Revenue
$148,737
Organization Details
Founding Year
1996
Phone
(401) 461-6342Principal Officer
Michelle L Korsmo
Main Address
PO Box 25786, Providence, RI, 02905
Website
www.mfha.netNTEE Category
Code: S30 - Community improvement
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