Overview
What is Southwest Intermediary Finance Team Inc?
Southwest Intermediary Finance Team Inc is a nonprofit organization based in rural Oklahoma. Its primary mission is to foster a diverse economy, promoting business growth and retention, thereby expanding employment opportunities. They achieve this through their program, which involves providing loan advances to support new and existing businesses. By assisting with financial needs, this organization plays a significant role in boosting economic development in rural areas of Oklahoma.
Official website here: www.siftok.fund
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Southwest Intermediary Finance Team Inc has received a commendable score of 88%, indicating a solid performance in terms of accountability and finance. The organization boasts a fully independent board with all members meeting the required standards, and they have excellent financial practices, including a clean audit of their financial statements. Their program expense ratio is also impressive, with 86.03% of their funds directed toward programs, reflecting a commitment to their mission.
However, the organization does face some challenges regarding governance policies. Notably, they lack a conflict of interest policy and a whistleblower policy, which are essential for ensuring transparency and accountability in nonprofit operations. These missing policies have impacted their overall score, suggesting that while the financials are robust, there is room for improvement in governance practices.
Overall, while Southwest Intermediary Finance Team Inc demonstrates strong financial health and a commitment to its programs, the absence of certain governance frameworks highlights an area where the organization could enhance its operations and accountability to stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Southwest Intermediary Finance Team Inc legitimate?
Southwest Intermediary Finance Team Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southwest Intermediary Finance Team 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
Official website here: www.siftok.fund
What is the mission statement of Southwest Intermediary Finance Team Inc?
Southwest Intermediary Finance Team Inc's mission is focused on fostering a diverse economy in rural areas. Their goal is to support and sustain business growth, particularly start-ups, and enhance employment prospects. By providing loan advances, they aim to contribute to business retention and stimulate economic development. Their activities are geared towards bolstering the rural community's economic resilience and creating more job opportunities.
Official website here: www.siftok.fund
Who is the CEO of Southwest Intermediary Finance Team Inc?
Doug Misak is the President of Southwest Intermediary Finance Team Inc.
Official website here: www.siftok.fund
What is the revenue of Southwest Intermediary Finance Team Inc?
Southwest Intermediary Finance Team Inc's revenue in 2022 was $3,255,146.
Official website here: www.siftok.fund
Who are the executives of Southwest Intermediary Finance Team Inc and what are their salaries?
There 11 volunteers at Southwest Intermediary Finance Team Inc.
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Official website here: www.siftok.fund
Where can I find the form 990 for Southwest Intermediary Finance Team Inc?
Southwest Intermediary Finance Team Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.siftok.fund
Learn more at the official website: www.siftok.fund
Mission Statement of Southwest Intermediary Finance Team Inc
Southwest Intermediary Finance Team, as a nonprofit organization, is committed to a mission that aims to foster a diverse economy in rural areas. This mission is centered around supporting business growth and retention, thereby increasing employment opportunities within these regions. By providing loan advances, Southwest Intermediary Finance Team plays a crucial role in empowering entrepreneurs and encouraging the establishment of new businesses, thereby contributing to the overall economic development of rural communities. The organization's mission is instrumental in bolstering the economic vitality of these areas, ultimately leading to improved living standards and enhanced employment prospects for local residents.
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Impact
July, 2024
Southwest Intermediary Finance Team Inc's impact is evident in its efforts to help develop a diverse economy that bolsters business start-up and retention while increasing employment opportunities in rural Oklahoma. Through programs such as providing loan advances, Southwest Intermediary Finance Team plays a crucial role in supporting the economic growth and stability of the region. Their work not only facilitates the establishment and growth of businesses but also contributes to the overall prosperity of rural communities in Oklahoma.
This information is meant to be a general summary of Southwest Intermediary Finance Team 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: $197,392
- Gross Receipts: $3,255,146
Assets and Liabilities:
- Total Assets: $8,334,774
- Total Liabilities: $2,898,968
- Net Assets: $5,435,806
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES
Revenue
$3,143
INTEREST INCOME
Revenue
$194,249
Organization Details
Founding Year
2012
Phone
(580) 774-3750Principal Officer
Doug Misak
Main Address
100 Campus Dr, Weatherford, OK, 73096
Website
www.siftok.fundNTEE Category
Code: T99 - Philanthropy
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