Overview
What is Southwest Economic Solutions Inc?
Southwest Economic Solutions Inc, situated in Detroit, Michigan, is a dedicated nonprofit organization with a mission to empower individuals and families to achieve greater economic success. Their primary focus lies in offering pre- and post-purchase homeownership counseling and education to the local community, serving approximately 656 individuals annually. In addition, they provide workforce development programming, including Earn and Learn, Career Center, and YouthBuild, benefiting 89, 245, and 42 individuals respectively, annually. Furthermore, Southwest Economic Solutions Inc offers adult basic education, encompassing GED, ESL, and ABE, assisting 493 learners annually. Additionally, they provide financial coaching services, such as budgeting, credit building education, debt reduction, and savings guidance, to all enrolled in their programs, helping a total of 290 individuals annually.
Official website here: www.swsol.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Stars)
Southwest Economic Solutions Inc has achieved a high level of accountability and financial management, reflected in its impressive 97% rating and Four-Star designation from Charity Navigator. This rating emphasizes the organization's strong commitment to transparency and governance, demonstrated by its independent board composition and effective financial oversight practices.
The nonprofit showcases a robust financial health profile, with an exceptional program expense ratio of 89.15%, indicating that the majority of its funds are directed towards its mission-related activities. The organization has also maintained a low liability to assets ratio of 4.15%, signifying solid financial stability. Additionally, the absence of loans to officers and a comprehensive set of internal policies concerning conflicts of interest and whistleblowers further underscores its dedication to ethical operations.
However, there is a notable area for improvement concerning fundraising efficiency, which received a lower score. The organization may consider enhancing its fundraising strategies to ensure it can optimize contributions and support its programs effectively. Overall, the strengths reflected in the rating outweigh the limitations, marking Southwest Economic Solutions Inc as a reliable nonprofit serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is Southwest Economic Solutions Inc legitimate?
Southwest Economic Solutions Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southwest Economic Solutions 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,312,711
For more financial information, click here
Official website here: www.swsol.org
What is the mission statement of Southwest Economic Solutions Inc?
Southwest Economic Solutions Inc's mission is centered around facilitating economic success for individuals and families. The organization accomplishes this by offering a range of services. These include pre- and post-purchase homeownership counseling and education to the community, with approximately 656 individuals benefiting annually. In addition, Southwest Economic Solutions Inc provides workforce development programming such as Earn and Learn, Career Center, and YouthBuild, assisting 89, 245, and 42 individuals respectively each year. The organization also offers adult basic education, including GED, ESL, and ABE, supporting 493 individuals annually. Furthermore, financial coaching, including budgeting, credit building education, debt reduction, and savings assistance, is provided to all enrolled in SWES programs, benefiting around 290 individuals annually.
Official website here: www.swsol.org
Who is the CEO of Southwest Economic Solutions Inc?
Sean De Four is the Principal Officer of Southwest Economic Solutions Inc. The CEO's salary of Southwest Economic Solutions Inc is $0 and their total compensation is $206,090.
Official website here: www.swsol.org
What is the revenue of Southwest Economic Solutions Inc?
Southwest Economic Solutions Inc's revenue in 2022 was $3,255,940.
Official website here: www.swsol.org
Who are the executives of Southwest Economic Solutions Inc and what are their salaries?
The average compensation at Southwest Economic Solutions Inc during 2022 was $32,017. There are 41 employees and 20 volunteers at Southwest Economic Solutions Inc.
Here are 24 key members and their salaries (Southwest Economic Solutions Inc's CEO's salary is $0 and their total compensation is $206,090):
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- Other: $14,452
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- Related: $174,747
- Other: $21,125
Official website here: www.swsol.org
Where can I find the form 990 for Southwest Economic Solutions Inc?
Southwest Economic Solutions Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.swsol.org
Learn more at the official website: www.swsol.org
Mission Statement of Southwest Economic Solutions Inc
Southwest Economic Solutions Inc, as its mission statement suggests, is committed to offering opportunities for individuals and families to achieve greater economic success. The organization achieves this goal through various means. One of their key initiatives involves providing pre and post-purchase homeownership counseling and education to community residents, serving approximately 656 individuals annually.
Beyond homeownership, Southwest Economic Solutions Inc also offers workforce development programming. This includes Earn and Learn, Career Center, and YouthBuild initiatives, which collectively benefit around 142 individuals per year. Furthermore, the organization provides adult basic education services, including GED, ESL, and ABE programs, benefiting around 493 individuals each year.
In addition to these educational offerings, Southwest Economic Solutions Inc also offers financial coaching. This encompasses budgeting, credit building education, debt reduction, and savings guidance for all individuals enrolled in their programs, assisting around 290 people annually. By offering a comprehensive range of services, Southwest Economic Solutions Inc is dedicated to helping individuals and families improve their financial literacy and economic prospects.
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Impact
July, 2024
Southwest Economic Solutions Inc provides a range of impactful services to individuals and families in Detroit, Michigan. They offer pre and post-purchase homeownership counseling and education, workforce development programs, adult basic education including GED, ESL, and ABE, and financial coaching. Through their programs, Southwest Economic Solutions Inc empowers community residents to achieve greater economic success by enhancing their skills and financial literacy. Their dedication to supporting individuals and families in improving their economic situation makes a significant positive impact on the community.
This information is meant to be a general summary of Southwest Economic Solutions 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.
- Investment Income: $701
- Program Service Revenue: $20,699
- Gross Receipts: $3,255,940
Assets and Liabilities:
- Total Assets: $1,852,921
- Total Liabilities: $76,943
- Net Assets: $1,775,978
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FORECLOSURE MITIGATION
Revenue
$20,699
Organization Details
Founding Year
2013
Phone
(313) 841-9641Principal Officer
Sean De Four
Main Address
5716 MICHIGAN AVENUE 3000, DETROIT, MI, 48210
Website
www.swsol.orgNTEE Category
Code: P51 - Human services
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