Overview
What is African American Chamber Of Commerce Of Wisconsin Inc?
The African American Chamber of Commerce of Wisconsin Inc, located in Milwaukee, Wisconsin, is a dynamic nonprofit organization dedicated to fostering the growth and sustainability of African American-owned businesses. They achieve this by offering various resources, such as access to capital, education, and advocacy. Their capacity-building and strategic partnerships are instrumental in empowering these businesses to thrive and contribute to the community's economic vibrancy. The chamber provides opportunities for promotion, publicity, and networking, hosting events that facilitate business growth. Additionally, they manage a revolving loan fund to increase capital access for existing and new minority businesses. In collaboration with Kiva U.S. and LISC, they offer small business grants and loans to further support their mission. With a workforce of six dedicated individuals, the African American Chamber of Commerce of Wisconsin Inc is committed to unlocking limitless opportunities for African American entrepreneurs and businesses in the workplace.
Official website here: www.aaccwi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Stars
The African American Chamber Of Commerce Of Wisconsin Inc has earned a three-star rating from Charity Navigator, indicating a fairly strong level of accountability and financial health. The organization scored particularly well in areas such as having a fully independent board and effective financial oversight, achieving maximum points in most categories related to governance and transparency.
Strengths of the organization include a high percentage of program expenses, which stands at 62.81%, suggesting that a significant portion of its financial resources is directed towards its mission-related activities. Additionally, the absence of any material diversion of assets reflects a sound financial management practice. However, there are some areas for improvement, such as the absence of a whistleblower policy and document retention procedures.
Overall, while the organization demonstrates a solid commitment to accountability and has a strong governance structure, it may need to address certain compliance aspects to enhance its rating further. This combination of strengths and limitations suggests that stakeholders should consider both the achievements and the areas that require attention when evaluating the chamber's impact and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about African American Chamber Of Commerce Of Wisconsin Inc?
100% of 12 reviewers on Facebook recommend the African American Chamber of Commerce of Wisconsin Inc. Here's a summary of their reviews:
The chamber is highly praised for its commitment to supporting entrepreneurs in the Milwaukee community. Members express gratitude for the valuable resources provided, highlighting the positive impact the organization has on local business growth and development.
Overall, the sentiment is overwhelmingly positive, reflecting satisfaction with the services offered and the chamber's dedication to fostering a thriving entrepreneurial environment. Members feel supported and empowered in their business endeavors through their involvement with the organization.
This AI summary has been generated from reviews found on Facebook.
Is African American Chamber Of Commerce Of Wisconsin Inc legitimate?
African American Chamber Of Commerce Of Wisconsin Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. African American Chamber Of Commerce Of Wisconsin 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: $169,036
Professional Fundraising Fees: $0
Other Salaries and Wages: $193,558
For more financial information, click here
Official website here: www.aaccwi.org
What is the mission statement of African American Chamber Of Commerce Of Wisconsin Inc?
The African American Chamber of Commerce of Wisconsin Inc. champions the growth and sustainability of African American-owned businesses by providing access to capital, education, and advocacy. This is achieved through capacity building and strategic partnerships. Their vision is to foster a community with strong African American-owned businesses and entrepreneurs, promoting economic vibrancy and providing limitless opportunities in the workplace. They strive to empower these businesses, ultimately contributing to a thriving economic landscape.
Official website here: www.aaccwi.org
Who is the CEO of African American Chamber Of Commerce Of Wisconsin Inc?
Nikki Purvis is the Director of African American Chamber Of Commerce Of Wisconsin Inc. The CEO's salary of African American Chamber Of Commerce Of Wisconsin Inc is $33,132 and their total compensation is $43,670.
Official website here: www.aaccwi.org
What is the revenue of African American Chamber Of Commerce Of Wisconsin Inc?
African American Chamber Of Commerce Of Wisconsin Inc's revenue in 2022 was $585,843.
Official website here: www.aaccwi.org
Who are the executives of African American Chamber Of Commerce Of Wisconsin Inc and what are their salaries?
The average compensation at African American Chamber Of Commerce Of Wisconsin Inc during 2022 was $60,432. There are 6 employees and 13 volunteers at African American Chamber Of Commerce Of Wisconsin Inc.
Here are 15 key members and their salaries (African American Chamber Of Commerce Of Wisconsin Inc's CEO's salary is $33,132 and their total compensation is $43,670):
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- Compensation: $33,132
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- Compensation: $95,981
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- Other: $24,209
Official website here: www.aaccwi.org
Where can I find the form 990 for African American Chamber Of Commerce Of Wisconsin Inc?
African American Chamber Of Commerce Of Wisconsin Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aaccwi.org
Learn more at the official website: www.aaccwi.org
Mission Statement of African American Chamber Of Commerce Of Wisconsin Inc
The African American Chamber of Commerce of Wisconsin Inc is committed to fostering the growth and sustainability of African American-owned businesses in the community. They achieve this mission by providing access to crucial resources such as capital, education, and advocacy. This is accomplished through capacity building and strategic partnerships. The organization's vision is to see a thriving landscape of strong African American-owned businesses and entrepreneurs, contributing to the economic vitality of the community and creating boundless opportunities in the workplace.
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Impact
July, 2024
The African American Chamber Of Commerce Of Wisconsin Inc champions the growth and sustainability of African American owned businesses by providing access to capital, education, and advocacy through capacity building and strategic partnerships. They provide opportunities for members' promotion and publicity, a voice in government, networking events, customer referrals, and access to a co-working space. Additionally, the Chamber's revolving loan fund increases access to capital for existing and new minority businesses, while developing partnerships within the business community. Through partnerships with organizations like Kiva U.S. and LISC, they provide 0% interest small business loans and grants to small businesses. Their impact includes fostering strong African American owned businesses and entrepreneurs that promote economic vibrancy and provide limitless opportunities in the workplace.
This information is meant to be a general summary of African American Chamber Of Commerce Of Wisconsin 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: $7,907
- Program Service Revenue: $35,200
- Gross Receipts: $622,727
Assets and Liabilities:
- Total Assets: $1,282,855
- Total Liabilities: $369,910
- Net Assets: $912,945
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RISE PROGRAM
Revenue
$35,200
Organization Details
Founding Year
1993
Phone
(414) 462-9450Principal Officer
Nikki Purvis
Main Address
1920 N MARTIN LUTHER KING JR DRIV, MILWAUKEE, WI, 53212
Website
www.aaccwi.orgNTEE Category
Code: B95Z - Education
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