Overview
What is Northern Great Lakes Initiatives?
Northern Great Lakes Initiatives is a nonprofit organization situated in Marquette, Michigan. With a mission to foster and encourage community revitalization projects, they offer affordable access to capital through their revolving loan fund and associated grants. Their primary goal is to support economically disadvantaged communities within the Great Lakes watershed region, which often struggle to secure assistance from traditional sources. By providing loans, strategic planning, and other essential support, Northern Great Lakes Initiatives plays a crucial role in revitalizing these communities. Additionally, they offer business development resources to users outside of the Great Lakes watershed region, demonstrating their commitment to broader economic growth and development. With a team of 34 dedicated individuals, Northern Great Lakes Initiatives is a valuable asset for communities in need of financial and strategic assistance.
Official website here: www.northerninitiatives.org
What are the reviews and ratings of this charity?
**Rating:** 86% (Three-Star out of Four Star rating from Charity Navigator)
Northern Great Lakes Initiatives has established a commendable rating due to its strong accountability and finance practices, highlighted by an impressive program expense ratio of 81.64%. The organization boasts a highly independent board, achieving full marks in several critical governance categories such as conflict of interest and whistleblower policies. While they have a solid foundation, their liabilities to assets ratio raises a minor concern, indicating a need for better financial management in that area.
The nonprofit demonstrates a high level of engagement and a strong commitment to community feedback, scoring a perfect 100 in constituent feedback collection and utilization. They face challenges in soliciting ongoing feedback and securing funding for these initiatives, which may impact their ability to continuously adapt and improve. Nonetheless, their equity strategies score of 91 shows a dedication to inclusivity within their mission to foster community revitalization.
Despite the lack of user reviews from GreatNonprofits, the available data reflects well on the organization’s mission to encourage small business growth and community projects in Northern regions. Their initiatives during challenges like COVID-19 highlight their adaptability and resilience, contributing to their overall strong standing in nonprofit performance metrics.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Northern Great Lakes Initiatives?
Although Northern Great Lakes Initiatives currently has limited reviews, one enthusiastic comment highlights their positive impact on local entrepreneurs. The reviewer expresses deep gratitude for the financial support and valuable business knowledge received, which has been instrumental in helping them pursue their dreams.
The sentiment conveyed indicates strong appreciation for the services offered, showing that the nonprofit delivers effectively on its mission to empower entrepreneurs. Overall, the feedback suggests that Northern Great Lakes Initiatives plays a crucial role in aiding business development in the community.
This AI summary has been generated from reviews found on Facebook.
Is Northern Great Lakes Initiatives legitimate?
Northern Great Lakes Initiatives is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northern Great Lakes Initiatives 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: $451,776
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,922,333
For more financial information, click here
Official website here: www.northerninitiatives.org
What is the mission statement of Northern Great Lakes Initiatives?
The Northern Great Lakes Initiatives have a mission to stimulate, encourage, and boost revitalization projects and programs in economically disadvantaged communities within the Great Lakes watershed region. They accomplish this goal by providing loans, strategic planning assistance, and other forms of support to these communities, which often struggle to secure aid from conventional sources. Furthermore, the organization offers business development resources to users beyond the Great Lakes watershed region.
Official website here: www.northerninitiatives.org
What is the revenue of Northern Great Lakes Initiatives?
Northern Great Lakes Initiatives's revenue in 2023 was $8,874,466.
Official website here: www.northerninitiatives.org
Who are the executives of Northern Great Lakes Initiatives and what are their salaries?
The average compensation at Northern Great Lakes Initiatives during 2023 was $69,827. There are 34 employees and 20 volunteers at Northern Great Lakes Initiatives.
Here are 20 key members and their salaries:
- Compensation: $170,625
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- Other: $17,500
- Compensation: $119,424
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- Other: $8,955
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- Other: $19,098
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Official website here: www.northerninitiatives.org
Where can I find the form 990 for Northern Great Lakes Initiatives?
Northern Great Lakes Initiatives's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.northerninitiatives.org
Learn more at the official website: www.northerninitiatives.org
Mission Statement of Northern Great Lakes Initiatives
Northern Great Lakes Initiatives is a nonprofit organization dedicated to encouraging, promoting, and fostering community revitalization projects and programs. Their mission is to support economically disadvantaged communities in the Great Lakes watershed region, which may not have access to assistance from traditional sources. They accomplish this by offering loans, strategic planning, and various other forms of support. Additionally, business development resources are available to users outside of the Great Lakes watershed region. In essence, Northern Great Lakes Initiatives aims to revitalize communities by providing them with the necessary tools and resources to thrive and grow.
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Impact
July, 2024
Northern Great Lakes Initiatives' impact is significant in fostering community revitalization projects and programs in economically disadvantaged communities within the Great Lakes watershed region. By providing affordable access to capital through its revolving loan fund and associated grants, the organization enables these communities to undertake projects that they might not have been able to pursue through traditional sources of support. This support extends to strategic planning and other resources, ultimately helping create opportunities for growth and development in areas that may otherwise be overlooked. Overall, their work plays a crucial role in improving the quality of life and economic prospects for residents in these communities.
This information is meant to be a general summary of Northern Great Lakes Initiatives. 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 2023.
- Investment Income: $247,523
- Program Service Revenue: $2,351,936
- Gross Receipts: $9,149,089
Assets and Liabilities:
- Total Assets: $40,128,234
- Total Liabilities: $27,503,881
- Net Assets: $12,624,353
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,635,545
PROGRAM FEES
Revenue
$490,831
LOAN FEES
Revenue
$225,560
Organization Details
Founding Year
2014
Principal Officer
Elizabeth Sangalli
Website
www.northerninitiatives.orgNTEE Category
Code: P20 - Human services
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