Overview
What is Beehivefund Corporation?
Beehivefund Corporation is a nonprofit organization based in Spring, Texas. Initially, it provided assistance to small manufacturers through the Texas Manufacturing Assistance Center (TMAC) program, utilizing federal funds provided by the Manufacturing Extension Partnership (MEP). However, in 2022, they ceased hosting this program and expanded their services to include non-manufacturing organizations, minority-owned businesses, organizations outside the Texas Gulf Coast region, and micro-businesses with fewer than 30 employees. Beehivefund developed a proprietary approach to organizational improvement called the "Product Centric Flow-Through System" and uses the Quantum Lean method to help organizations create turnaround strategies, improve operational processes, and adopt customer-focused approaches to product development and market expansion. They provide free or low-cost assistance to entrepreneurs, micro-businesses, and small to medium-sized enterprises (SMEs), enabling them to grow rapidly and create well-paying jobs in their communities. Beehivefund collaborates with various partners, such as Baker Ripley, community colleges, and small business development centers, to reach SMEs. Their innovative approach to organizational improvement helps small businesses achieve profitable growth while retaining employees and hiring more.
Official website here: www.behivefund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 73%)
Beehivefund Corporation has been rated with a Two-Star rating by Charity Navigator, indicating a need for improvement in certain areas of accountability and financial management. The organization scored 73% overall, reflecting a solid commitment to its mission but highlighting areas that require attention to enhance transparency and governance.
One of the notable strengths of Beehivefund is its high Program Expense Ratio of 98.28%, which suggests that a significant portion of its expenditures directly supports its programs. Additionally, the organization boasts a fully independent board, receiving perfect scores in that area, indicating good governance practices. However, the charity has faced challenges, especially in financial transparency, as evidenced by a score of 0 out of 15 for Financial Statements and other low scores in policies related to whistleblowing and document retention.
In summary, while Beehivefund demonstrates strong programmatic focus and governance through its independent board, it must address significant shortcomings in financial transparency and policy implementation. These improvements are vital for building trust and enhancing its overall effectiveness in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Beehivefund Corporation legitimate?
Beehivefund Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Beehivefund Corporation 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: $403,463
Professional Fundraising Fees: $0
Other Salaries and Wages: $223,141
For more financial information, click here
Official website here: www.behivefund.org
What is the mission statement of Beehivefund Corporation?
Beehivefund Corporation's mission is centered around assisting small businesses in achieving cultural, operational, and financial improvements in the shortest time possible. They aim to boost workforce morale and productivity by implementing their innovative approach called the "Product Centric Flow-Through System," which is built on the foundation of Quantum Lean. This approach to organizational system improvement enables small businesses to achieve profitable growth, retain their employees, and even hire additional staff.
Official website here: www.behivefund.org
Who is the CEO of Beehivefund Corporation?
Michael Sanders is the Director of Beehivefund Corporation.
Official website here: www.behivefund.org
What is the revenue of Beehivefund Corporation?
Beehivefund Corporation's revenue in 2022 was $901,822.
Official website here: www.behivefund.org
Who are the executives of Beehivefund Corporation and what are their salaries?
The average compensation at Beehivefund Corporation during 2022 was $156,651. There are 4 employees at Beehivefund Corporation.
Here are 9 key members and their salaries:
- Compensation: $209,000
- Related: $0
- Other: $0
- Compensation: $194,463
- Related: $0
- Other: $0
- Compensation: $112,391
- Related: $0
- Other: $0
- Compensation: $110,750
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.behivefund.org
Where can I find the form 990 for Beehivefund Corporation?
Beehivefund Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.behivefund.org
Learn more at the official website: www.behivefund.org
Mission Statement of Beehivefund Corporation
Beehivefund Corporation is dedicated to assisting small businesses in achieving significant cultural, operational, and financial improvements in the shortest time possible. By implementing their innovative approach called "Product Centric Flow-Through System" and practicing Quantum Lean as the foundation of organizational system improvement, they aim to enhance the morale and productivity of the workforce. This mission enables small businesses to achieve profitable growth, retain employees, and even hire additional staff. By deploying these methods, Beehivefund Corporation plays a crucial role in helping small businesses improve their overall operations and prosper.
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Impact
July, 2024
Beehivefund Corporation has a significant impact on small businesses by assisting them in achieving cultural, operational, and financial improvements in a short period of time. Through their innovative approach called the "Product Centric Flow-Through System" and the practice of Quantum Lean, Beehivefund helps small businesses achieve profitable growth while also boosting morale and productivity among their workforce. By offering free or low-cost assistance, Beehivefund has helped numerous small businesses implement successful improvement strategies.
Moreover, Beehivefund's use of simulation applications allows them to create 3D models that optimize processes in various industries like manufacturing, healthcare, warehousing, and logistics. This optimization helps in reducing waste, cutting costs, and increasing revenue for the businesses they work with. By partnering with nonprofit organizations, community colleges, and small business development centers, Beehivefund is able to reach and support a wide range of small to medium-sized enterprises (SMEs).
Overall, Beehivefund's efforts contribute to the rapid growth of entrepreneurs, micro-businesses, and SMEs, leading to the creation of more well-paying jobs in their respective communities. Their commitment to assisting small businesses in improving their operations and achieving growth underscores their role as a key player in fostering economic development and sustainability.
This information is meant to be a general summary of Beehivefund Corporation. 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: $50
- Program Service Revenue: $900,949
- Gross Receipts: $901,822
Assets and Liabilities:
- Total Assets: $357,418
- Total Liabilities: $14,510
- Net Assets: $342,908
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEES
Revenue
$900,949
Organization Details
Founding Year
2001
Phone
(281) 436-7327Principal Officer
Michael Sanders
Main Address
3726 W BENDERS LANDING BLVD, SPRING, TX, 77386
Website
www.behivefund.orgNTEE Category
Code: T99 - Philanthropy
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