Overview
What is Greater Wisconsin Opportunities Fund Inc?
Greater Wisconsin Opportunities Fund Inc is a nonprofit organization committed to supporting low-income communities and individuals, as defined by relevant U.S. laws. Their primary mission, as stipulated by the Wisconsin Nonstock Corporation Law, encompasses various lawful activities. One of their key initiatives is the New Markets Tax Credit, which they utilize to make investments in low-income communities across Wisconsin. Additionally, they engage in other activities that qualify for this tax credit, furthering their mission to support low-income individuals. Their operations may also involve forming subsidiary companies and applying for necessary certifications.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Stars)
Greater Wisconsin Opportunities Fund Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 94% overall, with a perfect score in key areas such as independent board membership, financial oversight, and asset management. This level of financial health indicates a well-managed nonprofit that adheres to best practices in governance.
One of the notable strengths of this nonprofit is its commitment to transparency, as evidenced by its comprehensive policies on conflicts of interest and whistleblowing. Additionally, the organization has demonstrated robust financial practices, maintaining a low liabilities-to-assets ratio and allocating 100% of its expenses to program services. This shows that the majority of its funds are directed towards fulfilling its mission rather than administrative costs.
Despite its high rating, it's always beneficial for potential donors to consider the specific programs and impacts of the organization. While the financial metrics are impressive, understanding the qualitative outcomes of its initiatives would provide a more holistic view of its effectiveness in serving the community. Overall, Greater Wisconsin Opportunities Fund Inc stands out as a financially sound nonprofit with a clear focus on governance and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Wisconsin Opportunities Fund Inc legitimate?
Greater Wisconsin Opportunities Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Wisconsin Opportunities Fund 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:
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For more financial information, click here
What is the mission statement of Greater Wisconsin Opportunities Fund Inc?
Greater Wisconsin Opportunities Fund Inc is an organization that primarily focuses on serving low-income communities or individuals, as defined by the U.S. tax code. Its mission, as stated in its charter, is to engage in various lawful activities under Wisconsin's nonstock corporation law, as long as they support the organization's primary objective of aiding low-income individuals. This could involve making qualified low-income community investments across the state, or participating in activities that qualify for the New Markets Tax Credit under the Internal Revenue Code. The organization may also form subsidiary companies and apply for their certification as qualified community development entities. Its activities are aimed at supporting low-income communities and individuals, although the specifics of how this is achieved are not explicitly stated in the provided information.
Who is the CEO of Greater Wisconsin Opportunities Fund Inc?
Joaquin Altoro is the President of Greater Wisconsin Opportunities Fund Inc.
What is the revenue of Greater Wisconsin Opportunities Fund Inc?
Greater Wisconsin Opportunities Fund Inc's revenue in 2022 was $569,804.
Who are the executives of Greater Wisconsin Opportunities Fund Inc and what are their salaries?
There 10 volunteers at Greater Wisconsin Opportunities Fund Inc.
Here are 10 key members and their salaries:
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Where can I find the form 990 for Greater Wisconsin Opportunities Fund Inc?
Greater Wisconsin Opportunities Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Greater Wisconsin Opportunities Fund Inc
Greater Wisconsin Opportunities Fund Inc is an organization dedicated to supporting low-income communities and individuals. According to its mission, the corporation engages in a variety of lawful activities, primarily focusing on low-income persons as defined under the Internal Revenue Code. Its primary goal is to make qualified low-income community investments throughout its service area or participate in activities that qualify for the New Markets Tax Credit under Section 45D of the Internal Revenue Code.
To achieve this mission, Greater Wisconsin Opportunities Fund Inc engages in various activities. This includes forming subsidiary limited liability companies, serving as the managing member, or creating subsidiary limited partnerships, acting as the general partner. Furthermore, the organization applies on behalf of these subsidiaries for their certification as Qualified Community Development Entities, as defined. These activities are all aimed at supporting its primary mission of assisting low-income communities and individuals.
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Impact
July, 2024
Greater Wisconsin Opportunities Fund Inc's impact is focused on servicing low-income communities and individuals in Madison, Wisconsin. By engaging in the New Markets Tax Credit program and making qualified low-income community investments, they aim to support the economic development and well-being of low-income persons in their service area. Through their activities, they contribute to community improvement and empowerment, making a tangible difference in the lives of those they serve.
This information is meant to be a general summary of Greater Wisconsin Opportunities Fund 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.
- Program Service Revenue: $563,059
- Gross Receipts: $569,804
Assets and Liabilities:
- Total Assets: $4,515,817
- Total Liabilities: $436,632
- Net Assets: $4,079,185
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE INCOME
Revenue
$476,815
AUDIT AND TAX REIMBURS
Revenue
$76,173
PROFESSIONAL FEE REIMB
Revenue
$9,700
INVESTMENT IN CDE
Revenue
$371
Organization Details
Founding Year
2011
Phone
(608) 266-7884Principal Officer
Joaquin Altoro
Main Address
908 EAST MAIN STREET SUITE 501, MADISON, WI, 53703
NTEE Category
Code: S30 - Community improvement
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