Overview
What is First American Capital Corporation Inc?
First American Capital Corporation Inc, based in Hales Corners, Wisconsin, is a nonprofit organization dedicated to economic development in Wisconsin Indian Country. Their primary mission is to facilitate access to capital in the form of business loans for American Indian-owned enterprises and provide pre- and post-loan technical assistance. Through their loan programs, they help create full-time jobs, retain existing positions, and boost the competitiveness of their clients. In response to the pandemic's impact, First American Capital Corporation Inc began awarding diverse business investment equity grants to borrowers. Their services are delivered through one-on-one capacity building and business management workshops, both in person and virtually. The organization employs a team of seven individuals to achieve its mission.
Official website here: www.aiccw-facc.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
First American Capital Corporation Inc has achieved an impressive Four-Star rating from Charity Navigator, indicating a strong commitment to accountability and finance. The organization scored 96% in these areas, reflecting its solid financial management practices and transparency. This high score is calculated from various aspects of governance, such as the independence of the board and the proper oversight of financial practices.
The nonprofit has a fully independent board, which is vital for unbiased decision-making, and it has a robust financial oversight committee. Additionally, it has demonstrated good practices in conflict of interest policies, document retention, and maintaining detailed board meeting minutes. The organization also maintains a healthy liabilities-to-assets ratio and invests a significant portion of its budget into its programs, showcasing its dedication to its mission.
While the ratings are highly positive, the summary does not provide information on the specific programs or impact of the organization, which could offer a more comprehensive view of its effectiveness. Overall, First American Capital Corporation Inc exemplifies strong financial health and governance, making it a commendable choice for donors looking for responsible nonprofits.
This AI summary has been generated from information found on Charity Navigator.
Is First American Capital Corporation Inc legitimate?
First American Capital Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. First American Capital Corporation 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: $252,529
Professional Fundraising Fees: $0
Other Salaries and Wages: $316,641
For more financial information, click here
Official website here: www.aiccw-facc.org/
What is the mission statement of First American Capital Corporation Inc?
First American Capital Corporation Inc's mission is centered around contributing to economic development within the American Indian community in Wisconsin. They accomplish this by providing business loans to American Indian-owned enterprises and offering pre- and post-loan technical assistance. This initiative aims to create family-supporting full-time jobs and contribute to the retention of existing jobs in the region. Additionally, the corporation offers one-on-one business management capacity building technical assistance and workshops to enhance the competitiveness of their clients. In 2022, they began awarding diverse business investment equity grants to borrowers disproportionately impacted by the pandemic to aid in recovery and build resilience against future economically disruptive events.
Official website here: www.aiccw-facc.org/
Who is the CEO of First American Capital Corporation Inc?
Jeff Bowman is the President of First American Capital Corporation Inc.
Official website here: www.aiccw-facc.org/
What is the revenue of First American Capital Corporation Inc?
First American Capital Corporation Inc's revenue in 2022 was $2,568,889.
Official website here: www.aiccw-facc.org/
Who are the executives of First American Capital Corporation Inc and what are their salaries?
The average compensation at First American Capital Corporation Inc during 2022 was $81,310. There are 7 employees and 7 volunteers at First American Capital Corporation Inc.
Here are 8 key members and their salaries:
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- Compensation: $98,566
- Related: $0
- Other: $28,672
- Compensation: $98,566
- Related: $0
- Other: $26,724
Official website here: www.aiccw-facc.org/
Where can I find the form 990 for First American Capital Corporation Inc?
First American Capital Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aiccw-facc.org/
Learn more at the official website: www.aiccw-facc.org/
Mission Statement of First American Capital Corporation Inc
First American Capital Corporation Inc, abbreviated as FACC, is committed to contributing to economic development in Indian Country within Wisconsin. They achieve this mission by facilitating access to capital in the form of business loans for American Indian-owned enterprises. Furthermore, FACC provides pre- and post-loan technical assistance to these businesses. This assistance is designed to enhance their capacity and competitiveness, ultimately leading to the creation of family-supporting full-time jobs and the retention of existing ones in the region.
In addition to financial aid, FACC offers one-on-one business management capacity building technical assistance and workshops. These sessions, delivered virtually and in person, aim to boost the competitiveness of their clients, eventually enabling them to graduate from FACC's portfolio when they meet the credit standards of commercial banks. During 2022, FACC began awarding Diverse Business Investment Equity Grants to qualified borrowers disproportionately impacted by the pandemic. These grants aim to aid in recovery and build resilience against future economically disruptive events.
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Impact
July, 2024
First American Capital Corporation Inc's impact can be seen through its efforts to contribute to economic development in Wisconsin Indian Country. By facilitating access to capital in the form of business loans for American Indian-owned enterprises, FACC is instrumental in creating new family-supporting full-time jobs and helping retain existing jobs in Wisconsin. The organization also provides vital pre- and post-loan technical assistance, including one-to-one business management capacity building and workshops, to enhance the competitiveness of its clients.
Moreover, in response to the economic disruptions caused by the pandemic, FACC began awarding diverse business investment equity grants in 2022 to qualifying borrowers who were disproportionately affected. These grants not only support recovery efforts but also aim to build resilience against future economically disruptive events.
Overall, First American Capital Corporation Inc plays a crucial role in fostering economic growth, empowerment, and sustainability within Wisconsin Indian Country, making a significant impact on the community's improvement and well-being.
This information is meant to be a general summary of First American Capital Corporation 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.
- Investment Income: $197,636
- Program Service Revenue: $423,860
- Gross Receipts: $2,568,889
Assets and Liabilities:
- Total Assets: $8,230,351
- Total Liabilities: $3,235,767
- Net Assets: $4,994,584
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT INCOME
Revenue
$410,741
FEE INCOME
Revenue
$13,119
Organization Details
Founding Year
2002
Phone
(414) 604-2044Principal Officer
Jeff Bowman
Main Address
10710 W SCHARLES AVE, HALES CORNERS, WI, 531302031
Website
www.aiccw-facc.org/NTEE Category
Code: S30 - Community improvement
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