Overview
What is Southeast Flordia Community Development Fund Inc?
Southeast Florida Community Development Fund Inc, based in Hollywood, Florida, is a nonprofit organization with a mission to propel the economic growth of the region. By providing business financing for eligible projects, they empower small businesses and entrepreneurs within Palm Beach, Miami-Dade, Broward, and Monroe counties. Furthermore, the organization extends its reach to affordable housing construction, ensuring that South Florida residents have access to affordable living spaces. In essence, their mission is to foster opportunities for community development that contribute positively to South Florida's economy.
Official website here: www.sfcdfi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 43%
Southeast Florida Community Development Fund Inc has received a low rating of 43%, which translates to a Zero-Star out of Four Star rating. This score reflects significant concerns in the areas of accountability and finance, indicating that the organization may struggle with transparency and effective financial management. Its accountability and finance score highlights both strong governance elements, such as having a majority independent board and a conflict of interest policy, but also critical weaknesses in areas like whistleblower and document retention policies.
The organization shows strengths in governance, exemplified by its fully independent board and excellent material diversion of assets score, suggesting sound board oversight. However, the lack of a whistleblower policy and document retention protocol raises alarms about the organization’s internal controls and operational integrity. In addition, the failure to maintain a favorable liabilities to assets ratio and low program expense ratio indicate potential issues with financial health and prioritization of program funding.
Overall, while the Southeast Florida Community Development Fund Inc demonstrates some positive governance practices, the substantial deficiencies in key financial and accountability metrics highlight serious concerns that potential donors and stakeholders should consider. The organization may need to address these limitations to improve its standing and effectiveness in serving its community.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Southeast Flordia Community Development Fund Inc?
While the Southeast Florida Community Development Fund Inc currently has a limited number of reviews, the sentiment expressed by those who have provided feedback is overwhelmingly positive. A board member highlights the organization's commitment to addressing vital issues such as health, economy, and environmental sustainability in the region.
This endorsement not only shows a strong belief in the nonprofit’s mission but also reflects the importance of its work to the community it serves. The emphasis on these critical areas indicates that the organization is seen as a valuable resource for regional development and wellbeing.
Overall, early impressions suggest that this nonprofit is on the right path, focusing on significant community needs and garnering respect from those involved in its governance.
This AI summary has been generated from reviews found on Facebook.
Is Southeast Flordia Community Development Fund Inc legitimate?
Southeast Flordia Community Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southeast Flordia Community Development 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.sfcdfi.org
What is the mission statement of Southeast Flordia Community Development Fund Inc?
The mission of Southeast Florida Community Development Fund Inc. is centered around fostering opportunities for community members that positively contribute to the economy. Specifically, the organization aims to ensure that small businesses and entrepreneurs in the region have access to necessary capital for establishment and growth. Additionally, the fund provides construction financing for affordable housing projects. In essence, their mission is to retain and expand economic opportunities within the community, thereby adding value to Southeast Florida's economy.
Official website here: www.sfcdfi.org
Who is the CEO of Southeast Flordia Community Development Fund Inc?
Tequisha Myles is the Treasurer of Southeast Flordia Community Development Fund Inc.
Official website here: www.sfcdfi.org
What is the revenue of Southeast Flordia Community Development Fund Inc?
Southeast Flordia Community Development Fund Inc's revenue in 2022 was $47,740.
Official website here: www.sfcdfi.org
Who are the executives of Southeast Flordia Community Development Fund Inc and what are their salaries?
Here are 5 key members and their salaries:
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Official website here: www.sfcdfi.org
Where can I find the form 990 for Southeast Flordia Community Development Fund Inc?
Southeast Flordia Community Development Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sfcdfi.org
Learn more at the official website: www.sfcdfi.org
Mission Statement of Southeast Flordia Community Development Fund Inc
Southeast Florida Community Development Fund Inc's mission is centered around creating, retaining, and expanding opportunities for local community residents. This organization strives to add value to the economy of South Florida in a meaningful way. By providing business financing for eligible projects, Southeast Florida Community Development Fund Inc facilitates the establishment and growth of small businesses and entrepreneurial ventures within the regions of Palm Beach, Miami-Dade, Broward, and Monroe counties. This mission is instrumental in fostering a thriving and self-sustaining community, ultimately contributing to the overall success and prosperity of South Florida.
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Impact
August, 2024
The Southeast Florida Community Development Fund Inc's impact is evident in its efforts to provide essential funding for small businesses and entrepreneurs in Southeast Florida. By offering capital for for-profit and non-profit enterprises, the organization plays a crucial role in fueling economic growth and creating opportunities for residents in Palm Beach, Miami-Dade, Broward, and Monroe counties. Additionally, through construction financing for affordable housing projects, the SFCDFI contributes to addressing housing needs and enhancing the well-being of communities in South Florida. Through these initiatives, the organization is actively working towards creating, retaining, and expanding opportunities that add value to the local economy while fostering community improvement in the region.
This information is meant to be a general summary of Southeast Flordia Community Development 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.
- Investment Income: $1,501
- Program Service Revenue: $37,676
- Gross Receipts: $47,740
Assets and Liabilities:
- Total Assets: $2,038,386
- Total Liabilities: $1,975,040
- Net Assets: $63,346
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ULBC Loan
Revenue
$427
Lauderhill Community Redevelopment Loan
Revenue
$32,249
Liberia Fees
Revenue
$5,000
Organization Details
Founding Year
2014
Phone
(954) 924-3653Principal Officer
Tequisha Myles
Main Address
1 OAKWOOD BLVD STE 250, HOLLYWOOD, FL, 330201959
Website
www.sfcdfi.orgNTEE Category
Code: S30 - Community improvement
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