Overview
What is Northcountry Cooperative Foundation?
Northcountry Cooperative Foundation (NCF) is a nonprofit organization situated in Saint Paul, Minnesota, dedicated to uplifting communities. Their primary mission is to promote cooperative enterprises, offering technical assistance and cooperative education to various organizations. Since its inception, NCF has demonstrated innovation and entrepreneurial spirit, addressing complex issues with socially-oriented solutions. NCF has worked closely with community groups to construct and preserve affordable cooperative housing, both in urban and rural settings. They have carried out research supporting the conversion and sustainability of housing to cooperative ownership and provided technical assistance to community-based economic development initiatives. In addition, they organized and conducted training institutes for housing cooperatives. In 2022, NCF made significant strides, offering ongoing technical assistance, capacity building, and training services to over 80 co-op board leaders and staff. They secured infrastructure funding for existing resident-owned manufactured housing and obtained a grant to transition a 31-unit manufactured home community to resident ownership. Furthermore, they raised seed capital for the cooperative housing loan fund and developed a manual and business planning tool to guide co-ops through the process of filling vacant lots with new manufactured homes. Over the years, NCF has collaborated with residents to convert twelve manufactured home communities to resident-ownership, providing permanent affordable housing to nearly 900 home sites in Minnesota and Wisconsin. The communities served by NCF have reinvested approximately 5 million into their neighborhoods, leading to infrastructure rehabilitation and other community improvements. NCF's initiatives primarily serve households with low to moderate incomes, with 75% falling below 60% of the Area Median Income (AMI). A third of the households served are considered extremely low income, at 30% of AMI. At least 40% of the populations served through the manufactured home co-op conversion program are households of color, including 25% who are Latino and 11% who are Asian households. NCF also addresses the needs of veteran and disabled households within its purview.
Official website here: www.northcountryfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating.
The Northcountry Cooperative Foundation has achieved an overall score of 88%, placing it in the Three-Star category, which indicates a solid level of accountability and transparency in its operations. The foundation received high marks for its Culture & Community score (97) and its Accountability & Finance score (87), demonstrating strong community engagement and financial oversight. Notably, 92% of its board members are independent, reflecting a commitment to impartial governance.
Financially, the organization exhibits a healthy Program Expense Ratio of 80.27%, indicating that a significant portion of its expenses is directed toward its charitable programs. The fundraising efficiency ratio is commendable at $0.04, suggesting effective fundraising practices. However, there is a potential area of concern with a Liabilities to Assets Ratio of 63.12%, which may warrant attention as it indicates a higher level of liabilities relative to its assets.
Overall, Northcountry Cooperative Foundation displays strong governance practices and community engagement, with well-defined policies in place for conflict of interest and document retention. While the financial aspects are generally robust, monitoring the liabilities could enhance the foundation's financial stability in the long term.
This AI summary has been generated from information found on Charity Navigator.
Is Northcountry Cooperative Foundation legitimate?
Northcountry Cooperative Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northcountry Cooperative Foundation 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: $96,897
Professional Fundraising Fees: $0
Other Salaries and Wages: $356,801
For more financial information, click here
Official website here: www.northcountryfoundation.org
What is the mission statement of Northcountry Cooperative Foundation?
The Northcountry Cooperative Foundation's mission is centered around transforming lives and communities through cooperative enterprise. They accomplish this by providing technical assistance and cooperative education to cooperative organizations. The foundation has always been innovative and entrepreneurial, seeking out creative and socially organized solutions to challenging problems since its inception. Their work includes collaborating with community groups to build and preserve affordable cooperative housing, conducting research, and offering technical assistance for economic development initiatives. In 2022, they provided ongoing technical assistance, capacity building, and training services to over 80 cooperative board leaders and staff, securing significant funding for cooperative housing projects, and helping a cooperative transition to municipal sewer services, among other accomplishments.
Official website here: www.northcountryfoundation.org
Who is the CEO of Northcountry Cooperative Foundation?
Sarah Berke is the Executive Di of Northcountry Cooperative Foundation.
Official website here: www.northcountryfoundation.org
What is the revenue of Northcountry Cooperative Foundation?
Northcountry Cooperative Foundation's revenue in 2022 was $1,296,885.
Official website here: www.northcountryfoundation.org
Who are the executives of Northcountry Cooperative Foundation and what are their salaries?
The average compensation at Northcountry Cooperative Foundation during 2022 was $50,411. There are 9 employees and 11 volunteers at Northcountry Cooperative Foundation.
Here are 12 key members and their salaries:
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Official website here: www.northcountryfoundation.org
Where can I find the form 990 for Northcountry Cooperative Foundation?
Northcountry Cooperative Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.northcountryfoundation.org
Learn more at the official website: www.northcountryfoundation.org
Mission Statement of Northcountry Cooperative Foundation
Northcountry Cooperative Foundation, a nonprofit organization, is dedicated to transforming lives and communities through cooperative enterprise. They carry out this mission by providing technical assistance and cooperative education to cooperative organizations. Since its inception, the Foundation has been innovative and entrepreneurial, seeking out creative, socially organized approaches to address challenging problems. Their work has primarily focused on affordable housing, conducting research to support the conversion of housing to cooperative ownership and providing technical assistance to various community-based economic development initiatives.
The Northcountry Cooperative Foundation has shown significant impact in its mission. In 2022, they provided ongoing technical assistance, capacity building, and training services to over 80 co-op board leaders and staff. They secured funding for existing resident-owned manufactured housing communities and a grant to transition a 31-unit manufactured home community to resident ownership. Additionally, they raised seed capital for the cooperative housing loan fund and developed a manual and business planning tool to guide co-ops through the process of filling vacant lots with new manufactured homes. These efforts have resulted in providing affordable housing security to nearly 900 home sites, with an average annual lot rent increase of 2% compared to the national investor-owned average. The communities served by the Foundation have re-invested approximately 5 million into their communities through infrastructure rehabilitation and other community improvements.
In conclusion, Northcountry Cooperative Foundation is a tireless advocate for cooperative enterprises, working to provide technical assistance and education to cooperative organizations. Their mission to transform lives and communities through cooperative enterprise is evident in their work with resident-owned manufactured housing communities, securing funding for conversions, and developing resources to support co-ops. Their commitment to affordable housing and community development has positively impacted numerous households, particularly those with low incomes and disproportionately serving households of color.
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Impact
July, 2024
Northcountry Cooperative Foundation's impact is profound in transforming lives and communities through cooperative enterprise. They have worked directly with community groups to build and preserve affordable, cooperative housing in both urban and rural settings. Their research supports the conversion and ongoing sustainability of housing to cooperative ownership, while also providing technical assistance to various community-based economic development initiatives.
In 2022 alone, Northcountry Cooperative Foundation provided ongoing technical assistance, capacity building, and training services to over 80 cooperative board leaders and staff. They secured $5.9 million in infrastructure funding for existing resident-owned manufactured housing and facilitated the transition of a 31-unit manufactured home community to resident ownership, among other achievements. Since 2004, they have successfully supported the conversion of twelve manufactured home communities to resident ownership, benefiting nearly 900 home sites.
Their impact is further evidenced by the fact that the average annual lot rent increase across Northcountry Cooperative Foundation's portfolio is only 2%, compared to the national investor-owned average of 5 to 6%. Communities supported by NCF have reinvested approximately $5 million into infrastructure rehabilitation and other community improvements. Importantly, they serve a disproportionately high number of households with incomes at or below 60% of the area median income, including a significant population of veterans, households with chronic health conditions and disabilities, as well as households of color.
This information is meant to be a general summary of Northcountry Cooperative Foundation. 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.
- Program Service Revenue: $339,007
- Gross Receipts: $1,296,885
Assets and Liabilities:
- Total Assets: $661,561
- Total Liabilities: $148,260
- Net Assets: $513,301
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT MANAGEMENT CONTRACTS
Revenue
$194,676
LOAN SERVICING FEE
Revenue
$98,249
OTHER INCOME
Revenue
$46,082
Organization Details
Founding Year
1999
Phone
(612) 767-2116Principal Officer
Sarah Berke
Main Address
2171 UNIVERSITY AVE W SUITE 300, SAINT PAUL, MN, 55114
NTEE Category
Code: J30 - Employment
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