Overview
What is Hatch Detroit?
Hatch Detroit is a dedicated nonprofit organization situated in Detroit, Michigan. Its primary mission is to empower and bolster independent retail businesses by offering financial assistance, educational resources, exposure, and mentorship. By organizing a retail contest, Hatch Detroit selects a winning retail venture, providing them with funds to establish a business within Detroit's historical neighborhoods. With a modest workforce of two individuals, Hatch Detroit is committed to revitalizing and strengthening the local retail sector in Detroit.
Official website here: www.hatchdetroit.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
Hatch Detroit has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization’s overall score is based entirely on a single beacon score, showcasing its commitment to transparency and responsible financial management. The charity has maintained a perfect score in several key areas, including having a majority of independent board members and no material diversion of assets.
The organization's commitment to governance is evident, with all board members being independent and active policies in place for conflict of interest, whistleblowing, and document retention. These practices ensure a high level of integrity in its operations. Additionally, Hatch Detroit demonstrates effective use of resources, with a program expense ratio of 75.78%, indicating that a significant portion of its funds is directed towards its mission.
While the data highlights strong financial health and governance, user feedback on specific program effectiveness or community impact was not provided. Overall, Hatch Detroit appears to be a well-managed nonprofit, dedicated to its cause and accountable to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Hatch Detroit legitimate?
Hatch Detroit is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hatch Detroit 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: $42,233
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.hatchdetroit.com
What is the mission statement of Hatch Detroit?
Hatch Detroit serves as a platform to champion and support independent retail businesses. They accomplish this mission through various means, including funding, education, exposure, and mentoring. The organization's primary goal is to assist these businesses in their growth and development. Hatch Detroit hosts a retail contest to select a business winner, granting them financial aid to help establish their business in Detroit. Additionally, Hatch Detroit provides financial assistance to local businesses in historical neighborhoods of Detroit.
Official website here: www.hatchdetroit.com
Who is the CEO of Hatch Detroit?
Victtoria Katanski is the Executive Director of Hatch Detroit.
Official website here: www.hatchdetroit.com
What is the revenue of Hatch Detroit?
Hatch Detroit's revenue in 2022 was $78,233.
Official website here: www.hatchdetroit.com
Who are the executives of Hatch Detroit and what are their salaries?
The average compensation at Hatch Detroit during 2022 was $21,116. There are 2 employees at Hatch Detroit.
Here are 12 key members and their salaries:
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Official website here: www.hatchdetroit.com
Where can I find the form 990 for Hatch Detroit?
Hatch Detroit's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hatchdetroit.com
Learn more at the official website: www.hatchdetroit.com
Mission Statement of Hatch Detroit
Hatch Detroit is an organization dedicated to advocating for and aiding independent retail businesses. Its mission is multifaceted, encompassing the provision of funding, education, exposure, and mentoring to these businesses. By doing so, Hatch Detroit aims to bolster the growth and success of these independent ventures, contributing to a vibrant and diverse retail landscape.
In a nutshell, Hatch Detroit serves as a catalyst for independent retail businesses, offering them the necessary resources to thrive. Through financial assistance, educational programs, and networking opportunities, Hatch Detroit empowers these businesses to navigate the challenges of starting and operating a retail venture in Detroit. This holistic approach to support ensures that these businesses not only have the financial means to open their doors but also the knowledge and guidance needed to sustain their operations and make a lasting impact in their communities.
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Impact
August, 2024
Hatch Detroit has significantly impacted Detroit by championing and supporting independent retail businesses through funding, education, exposure, and mentoring. This has not only helped in revitalizing historical neighborhoods in the city but has also contributed to the overall economic development and growth of small businesses in Detroit. The organization's retail contest to select a retail business winner, along with providing financial assistance, has been instrumental in helping local entrepreneurs realize their dreams of opening and running successful retail establishments. The impact of Hatch Detroit extends beyond just financial support, as it also provides crucial mentorship and exposure opportunities that can be transformative for small businesses in the community.
This information is meant to be a general summary of Hatch Detroit. 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: $22
- Gross Receipts: $78,233
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2011
Phone
(248) 766-6485Principal Officer
Victtoria Katanski
Main Address
440 BURROUGHS APT 173, DETROIT, MI, 48202
Website
www.hatchdetroit.comNTEE Category
Code: S31 - Community improvement
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