Overview
What is Propel Nonprofits?
Propel Nonprofits, situated in Minneapolis, Minnesota, is a dedicated organization that supports the growth and success of various nonprofits. Their mission is to amplify the impact and efficiency of these organizations by offering guidance, expertise, and necessary capital. Propel provides loans to nonprofits for facility expenses and working capital. They offer training programs to enhance financial health, strategic planning, and governance practices among nonprofit staff and boards. Propel's knowledge and guidance cover areas such as governance, planning, financial strategy, and sustainability. They also consult on strategy, organizational structure, financial plans, strategic alliances, and governance. Additionally, Propel offers nonprofit accounting services and fiscal sponsorship, supporting emerging organizations and collaborations. In FY23, they administered a grant program to strengthen the infrastructure of 40 small, culturally led organizations.
Official website here: www.propelnonprofits.org
What are the reviews and ratings of this charity?
**Rating:** 93% (Four-Star out of Four Star rating on Charity Navigator)
Propel Nonprofits has demonstrated a strong performance in Accountability and Finance, achieving an impressive 93% score, indicating a high level of transparency and fiscal responsibility. This rating is particularly meaningful as it reflects robust governance structures, including a completely independent board and sound audit practices, which are critical for building public trust. However, it is important to note that the evaluation does not encompass metrics related to Leadership & Adaptability, Culture & Community, or Impact & Measurement.
The organization has shown particular strength in its program expenses, dedicating a significant portion of its revenue to its initiatives. This is complemented by excellent fundraising efficiency and a healthy working capital ratio, suggesting that Propel Nonprofits efficiently converts donations into programs that support their mission. These factors combined portray a nonprofit dedicated to maintaining high operational standards in financial management.
While detailed user reviews from GreatNonprofits are not available at this time, the absence of feedback does not detract from the organization's positive financial evaluation. Propel Nonprofits stands out as a well-run organization, although additional insights into its overall impact and community engagement would enhance the understanding of its effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Propel Nonprofits legitimate?
Propel Nonprofits is a legitimate nonprofit organization registered as a 501(c)(3) entity. Propel Nonprofits 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: $348,317
Professional Fundraising Fees: $0
Other Salaries and Wages: $2,198,073
For more financial information, click here
Official website here: www.propelnonprofits.org
What is the mission statement of Propel Nonprofits?
Propel Nonprofits' mission is centered around boosting the impact and efficiency of nonprofit organizations. They accomplish this by offering guidance, expertise, and financial support. Specifically, Propel Nonprofits provides loans for facilities and working capital to nonprofits. They also offer training programs for nonprofit staff and boards to enhance financial health, strategic planning, and strong governance practices. Propel Nonprofits offers expert advice on various aspects of nonprofit management, such as governance, planning, financial strategy, and sustainability. They consult on strategy, organizational structure, financial plans, strategic alliances, and governance. Propel Nonprofits also provides nonprofit accounting services and reviews financial systems. Furthermore, they offer fiscal sponsorship and support for emerging organizations and collaborations.
Official website here: www.propelnonprofits.org
Who is the CEO of Propel Nonprofits?
Kate Barr is the Chair of Propel Nonprofits. The CEO's salary of Propel Nonprofits is $194,346 and their total compensation is $220,391.
Official website here: www.propelnonprofits.org
What is the revenue of Propel Nonprofits?
Propel Nonprofits's revenue in 2023 was $9,328,353.
Official website here: www.propelnonprofits.org
Who are the executives of Propel Nonprofits and what are their salaries?
The average compensation at Propel Nonprofits during 2023 was $68,821. There are 37 employees and 28 volunteers at Propel Nonprofits.
Here are 24 key members and their salaries (Propel Nonprofits's CEO's salary is $194,346 and their total compensation is $220,391):
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- Compensation: $102,668
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- Other: $14,672
Official website here: www.propelnonprofits.org
Where can I find the form 990 for Propel Nonprofits?
Propel Nonprofits's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.propelnonprofits.org
Learn more at the official website: www.propelnonprofits.org
Mission Statement of Propel Nonprofits
Propel Nonprofits, an organization dedicated to enhancing the impact and effectiveness of nonprofit entities, fulfills its mission by providing guidance, expertise, and capital. The primary goal of Propel Nonprofits is to fuel the growth and success of nonprofit organizations. They achieve this by offering loans for facilities and working capital, training nonprofit staff and boards in financial health, strategy, and governance practices, and providing expert knowledge and guidance on various aspects of nonprofit management, such as governance, planning, financial strategy, and sustainability. Propel Nonprofits also consults and guides nonprofits on strategy, organizational structure, financial plans, strategic alliances, and governance. Additionally, they provide nonprofit accounting services and review financial systems, offer fiscal sponsorship for emerging organizations and collaborations, and support nonprofits in need.
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Impact
July, 2024
Propel Nonprofits fuels the impact and effectiveness of organizations by providing guidance, expertise, and capital. They offer training, capacity building, and knowledge sharing opportunities on topics such as financial management, accounting, governance, business models, and social enterprise. In the past fiscal year, Propel Nonprofits presented a total of 101 trainings to 3,999 participants and facilitated various leadership circles and cohorts. They also administered grants to support small culturally led organizations and worked on initiatives to nurture emerging arts and culture organizations run by and for underrepresented communities. This organization based in Minneapolis, MN, plays a vital role in strengthening the infrastructure and sustainability of nonprofit organizations, ultimately contributing to the advancement of their missions and communities.
This information is meant to be a general summary of Propel Nonprofits. 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 2023.
- Investment Income: $147,712
- Program Service Revenue: $2,241,607
- Gross Receipts: $9,328,353
Assets and Liabilities:
- Total Assets: $44,298,816
- Total Liabilities: $26,071,781
- Net Assets: $18,227,035
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST REVENUE
Revenue
$1,486,310
CLIENT FEE AND CONTRAC
Revenue
$571,556
WORKSHOP AND TRAINING
Revenue
$113,662
LOAN FEE REVENUE
Revenue
$68,677
Organization Details
Founding Year
1998
Phone
(612) 249-6700Principal Officer
Kate Barr
Main Address
1 SE MAIN STREET 600, MINNEAPOLIS, MN, 55414
Website
www.propelnonprofits.orgNTEE Category
Code: T11 - Philanthropy
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