Overview
What is Metec?
Metec is a nonprofit organization situated at 2605 W Krause St, Peoria, Illinois. Their primary mission is to empower individuals to enhance their financial well-being. They achieve this through various means, including housing counseling, credit counseling, home ownership, and employment assistance programs. Metec's initiatives have been instrumental in supporting approximately 790 families and individuals, helping 160 individuals purchase new homes, and providing emergency rental and mortgage services to around 750 individuals. Moreover, their employment assistance program has served about 90 individuals. Metec's services extend to preparing over 895 tax returns free of charge for families and individuals in need. With a team of 14 dedicated employees, Metec continues its commitment to improving financial stability and independence for its community.
Official website here: www.metechrc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 78%, Three-Star out of Four Star Rating
Metec has received a solid rating of 78%, indicating a reasonable level of accountability and financial health. The organization showcases strengths such as having a fully independent board, strong financial oversight through its Audit and Oversight Committee, and a commendable program expense ratio of 79.08%, demonstrating effective allocation of resources to its mission-driven activities.
However, there are some notable weaknesses. The absence of a whistleblower policy and the failure to post its tax form on its website may raise concerns about transparency and governance practices. Additionally, the organization received low points for its liabilities to assets ratio, which indicates some financial risk. This highlights the importance of continuous improvement in both policy implementation and financial management.
Overall, while Metec exhibits strong governance features and effective use of funding, addressing the areas identified will be crucial for enhancing its overall rating and ensuring stakeholder confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Metec legitimate?
Metec is a legitimate nonprofit organization registered as a 501(c)(3) entity. Metec 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: $77,611
Professional Fundraising Fees: $0
Other Salaries and Wages: $169,015
For more financial information, click here
Official website here: www.metechrc.org
What is the mission statement of Metec?
Metec's mission is centered around empowering individuals to enhance their financial well-being. This is achieved through various means, including housing counseling, credit counseling, facilitating home ownership, and employment assistance programs. The organization aims to make a positive impact on the financial lives of individuals, helping them navigate various financial challenges. In 20XX, Metec provided housing counseling services and employment programs to approximately 790 families and individuals, assisted 160 individuals with new home purchases, offered emergency rental and mortgage services to 750 individuals, and provided services through the employment assistance program to around 90 individuals. Additionally, Metec prepared approximately 895 tax returns free of charge for families and individuals.
Official website here: www.metechrc.org
Who is the CEO of Metec?
Leslie Vallar is the President of Metec.
Official website here: www.metechrc.org
What is the revenue of Metec?
Metec's revenue in 2022 was $673,976.
Official website here: www.metechrc.org
Who are the executives of Metec and what are their salaries?
The average compensation at Metec during 2022 was $17,616. There are 14 employees and 26 volunteers at Metec.
Here are 9 key members and their salaries:
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Official website here: www.metechrc.org
Where can I find the form 990 for Metec?
Metec's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.metechrc.org
Learn more at the official website: www.metechrc.org
Mission Statement of Metec
Metec, an organization dedicated to empowerment, aims to enhance the financial well-being of individuals. Through its housing counseling, credit counseling, home ownership, and employment programs, Metec seeks to make a significant impact. The nonprofit's mission is centered around assisting families and individuals in improving their financial standing, providing them with the necessary tools and resources to achieve stability and prosperity.
By offering housing counseling services, Metec helps individuals navigate the often complex world of home ownership. This includes providing guidance on mortgage options, budgeting, and other aspects of homeownership. Additionally, the organization provides credit counseling to help individuals improve their credit scores and manage their debt effectively.
Metec's employment programs are another key component of its mission. By assisting individuals with job placement and career development, the organization helps individuals improve their earning potential and achieve financial independence. Metec's employment assistance program has been instrumental in this regard, providing support to over 90 individuals in finding new job opportunities.
Furthermore, Metec offers emergency rental and mortgage services to individuals in need. This critical service helps prevent homelessness and provides a safety net for those facing financial hardship. In addition, the organization has prepared over 895 tax returns free of charge for families and individuals, helping them maximize their tax refunds and improve their financial situations.
In summary, Metec is a mission-driven organization that empowers individuals to improve their financial well-being. Through its comprehensive range of services, Metec provides housing counseling, credit counseling, home ownership, and employment assistance to families and individuals in need. By doing so, Metec plays a crucial role in helping individuals achieve financial stability and independence.
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Impact
July, 2024
Metec's impact can be seen through its efforts in empowering individuals to improve their financial well-being. The organization has assisted approximately 790 families and individuals with housing counseling services and employment programs. Additionally, they have helped 160 individuals with new home purchases and provided emergency rental and mortgage services to around 750 individuals. Metec has also supported approximately 90 individuals through their employment assistance program. Moreover, the organization has prepared approximately 895 tax returns free of charge for families and individuals. These collective efforts have made a significant difference in the lives of many in the Peoria, IL community.
This information is meant to be a general summary of Metec. 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.
- Investment Income: $24
- Program Service Revenue: $656,784
- Gross Receipts: $673,976
Assets and Liabilities:
- Total Assets: $900,430
- Total Liabilities: $613,016
- Net Assets: $287,414
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GOV'T CONTRACTS/GRANTS
Revenue
$633,798
PROGRAM SERVICE FEES
Revenue
$22,986
Organization Details
Founding Year
2001
Phone
(309) 676-3832Principal Officer
Leslie Vallar
Main Address
2605 W KRAUSE ST, PEORIA, IL, 61605
Website
www.metechrc.orgNTEE Category
Code: X99 - Religion related
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