Overview
What is First Southwest Community Fund?
First Southwest Community Fund is a nonprofit organization situated in Alamoso, Colorado. Their primary mission is to stimulate economic growth in rural areas by offering loans to small businesses and agricultural producers who may not qualify for conventional financing. The funds are also used to support projects that establish infrastructure and technology in these communities, thereby fostering new businesses and job creation. Moreover, the organization aims to reduce poverty in low-income communities by providing opportunities for higher-paying jobs. Committed to the entrepreneurial spirit of rural Colorado, First Southwest Community Fund invests in the local community, focusing on areas of significant need.
Official website here: www.fswcf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
The First Southwest Community Fund has received a Two-Star rating from Charity Navigator, indicating a "Needs Improvement" status with an overall score of 74%. While the organization's accountability and finance score is relatively low at 69%, it excels in culture and community as well as leadership and adaptability, both scoring a perfect 100%. Their program expense ratio is strong at 87.92%, reflecting a commitment to utilizing funds effectively for their mission.
The organization boasts a fully independent board, with 100% of its eight members being independent, which is a significant strength for governance. Additionally, it has performed well in audit and oversight, scoring 15 out of 15 points. The absence of any material diversion of assets further emphasizes its financial integrity, earning a perfect score of 10 out of 10 in that area.
Despite its strengths, the lower score in accountability and finance highlights some areas for growth. While the organization has shown evidence of investment in leadership development and has a robust feedback collection and usage process, it may need to enhance its financial practices to improve its overall rating and appeal to potential donors.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about First Southwest Community Fund?
100% of reviewers on Facebook recommend the First Southwest Community Fund. Here is a summary of their reviews:
Participants express satisfaction with the support provided, particularly highlighting the impact on small businesses seeking additional funding. The comments reflect appreciation for the resourcefulness of the nonprofit, indicating it effectively meets the financial needs of local enterprises.
Overall, the sentiment is overwhelmingly positive, showcasing the nonprofit's commitment to empowering smaller businesses through access to loans for their projects.
This AI summary has been generated from reviews found on Facebook.
Is First Southwest Community Fund legitimate?
First Southwest Community Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. First Southwest Community Fund 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: $110,195
Professional Fundraising Fees: $0
Other Salaries and Wages: $161,846
For more financial information, click here
Official website here: www.fswcf.org
What is the mission statement of First Southwest Community Fund?
The mission of First Southwest Community Fund is centered around nurturing the entrepreneurial spirit in rural Colorado. They achieve this by investing in the local population, culture, and innovative ideas, with a focus on addressing areas of significant need. The primary objective is to stimulate financial knowledge and innovation, ultimately contributing to the growth and development of the community. The fund receives financial assistance through a loan from the US Department of Agriculture, which is utilized to support small businesses and agricultural producers who may not meet the criteria for conventional loans. Additionally, the funds are allocated towards projects that provide essential infrastructure and technology in rural areas, fostering new businesses and job creation. Moreover, the fund aims to alleviate poverty in low-income communities by offering opportunities for higher-paying jobs.
Official website here: www.fswcf.org
Who is the CEO of First Southwest Community Fund?
Kent Curtis is the President of First Southwest Community Fund.
Official website here: www.fswcf.org
What is the revenue of First Southwest Community Fund?
First Southwest Community Fund's revenue in 2022 was $867,703.
Official website here: www.fswcf.org
Who are the executives of First Southwest Community Fund and what are their salaries?
The average compensation at First Southwest Community Fund during 2022 was $45,340. There are 6 employees at First Southwest Community Fund.
Here are 9 key members and their salaries:
- Compensation: $110,195
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- Other: $3,832
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.fswcf.org
Where can I find the form 990 for First Southwest Community Fund?
First Southwest Community Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fswcf.org
Learn more at the official website: www.fswcf.org
Mission Statement of First Southwest Community Fund
First Southwest Community Fund is committed to nurturing the enterprising spirit of rural Colorado. They achieve this by investing in the people, culture, and ideas that drive innovation and financial literacy within the community, with a focus on addressing areas of greatest need. This organization's mission is to serve as a catalyst for growth, providing funding and resources to small businesses and agricultural producers who may not qualify for conventional loans. Furthermore, First Southwest Community Fund supports projects that enhance infrastructure and technology in rural communities, ultimately fostering new business opportunities and job creation. By addressing poverty in low-income communities, the organization offers prospects for higher-paying jobs, thereby contributing to the overall betterment of the community.
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Impact
July, 2024
First Southwest Community Fund's impact is demonstrated through its dedication to supporting the entrepreneurial spirit and economic development in rural Colorado. By investing in the people, culture, and innovative ideas of the community, the Fund fuels financial knowledge and fosters innovation. Through its revolving loan program funded by the USDA-IRP, the organization provides crucial funding to small businesses and agricultural producers who may not qualify for traditional loans. This support helps create new businesses, jobs, and infrastructure in rural areas, ultimately contributing to economic growth and poverty alleviation in low-income communities.
This information is meant to be a general summary of First Southwest Community Fund. 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: $376,445
- Gross Receipts: $867,703
Assets and Liabilities:
- Total Assets: $19,365,408
- Total Liabilities: $18,201,542
- Net Assets: $1,163,866
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Organization Details
Founding Year
2015
Phone
(970) 375-1100Principal Officer
Kent Curtis
Main Address
PO BOX 1139, ALAMOSA, CO, 81101
Website
www.fswcf.orgNTEE Category
Code: P20 - Human services
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