Overview
What is Sb Works?
Sb Works is a nonprofit organization situated in Washington D.C., specifically at 2316 Rhode Island Ave NE, 20018. Their primary focus is on promoting economic development and job creation in underserved communities within the Greater Washington D.C. area. They achieve this goal through innovative business training and incubation strategies. During this current program fiscal year, extending from October 1, 2021, to September 30, 2022, Sb Works aided approximately 140 small business clients primarily based in low and moderate-income areas of Washington D.C. Their assistance mainly involves one-on-one consulting and development, interactive classes, and the use of subsidized third-party consultants for specialized subjects. Typically, each client receives between 9 to 15 hours of assistance for their business. The work is carried out by a diverse team of salaried staff and independent contractors, and the program is primarily funded by local district grants.
Official website here: www.sbworksdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Sb Works has received an 81% rating from Charity Navigator, indicating a solid performance in accountability and finance. The organization boasts a fully independent board, which enhances its governance structure, ensuring that decisions are made without conflicts of interest. Additionally, the charity demonstrates effective financial management, with a program expense ratio of 74.31%, indicating that a significant portion of its resources directly supports its programs.
Strengths of Sb Works include its transparency and adherence to best practices, as evidenced by its comprehensive policies on conflicts of interest, whistleblower protection, and document retention. The organization has also shown no material diversion of assets and maintains a strong liabilities to assets ratio of 0.00%, reflecting its financial stability and low risk of insolvency.
While the organization's rating is commendable, potential donors may consider the overall Three-Star rating as an area for improvement. Continued efforts to enhance operational efficiency and broaden program impact could further elevate its standing in the nonprofit sector. Overall, Sb Works appears to be a reliable organization with a commitment to accountability and effective program delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Sb Works legitimate?
Sb Works is a legitimate nonprofit organization registered as a 501(c)(3) entity. Sb Works 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: $231,653
For more financial information, click here
Official website here: www.sbworksdc.org
What is the mission statement of Sb Works?
Sb Works' mission is centered around promoting economic development and job creation in underserved communities. They achieve this objective by utilizing innovative methods in business training and incubation settings. Over the course of a year, they assisted approximately 140 small businesses primarily based in low to moderate income areas, providing one-on-one consulting, interactive classes, and subsidized specialized support. The typical client receives between 9 to 15 hours of assistance, with the work being carried out by a mix of salaried staff and independent contractors. The program is primarily funded by local district grants.
Official website here: www.sbworksdc.org
Who is the CEO of Sb Works?
John Mains is the Outreach Coordinator of Sb Works.
Official website here: www.sbworksdc.org
What is the revenue of Sb Works?
Sb Works's revenue in 2022 was $669,058.
Official website here: www.sbworksdc.org
Who are the executives of Sb Works and what are their salaries?
The average compensation at Sb Works during 2022 was $46,331. There are 5 employees at Sb Works.
Here are 10 key members and their salaries:
- Compensation: $28,761
- Related: $0
- Other: $0
- Compensation: $86,700
- Related: $0
- Other: $0
- Compensation: $76,500
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $25,519
- Related: $0
- Other: $0
- Compensation: $2,400
- Related: $0
- Other: $0
- Compensation: $14,173
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $1,800
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.sbworksdc.org
Where can I find the form 990 for Sb Works?
Sb Works's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sbworksdc.org
Learn more at the official website: www.sbworksdc.org
Mission Statement of Sb Works
Sb Works, an economic development organization, is committed to fostering job creation and business growth in underserved communities within the Greater Washington DC area. They achieve this mission by employing innovative techniques in business training and incubation settings. The primary objective of Sb Works is to enable economic development and job creation in these communities, thereby promoting overall economic growth and stability. To accomplish this, Sb Works offers a range of services, including one-on-one business consulting, interactive classes, and subsidized third-party consultants for specialty subjects. The organization typically provides around 9-15 hours of assistance to each client, utilizing a combination of salaried staff and independent contractors. During the specified program fiscal years, Sb Works served approximately 140 small businesses predominantly located in low and moderate income areas of the District of Columbia.
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Impact
July, 2024
Sb Works has made a significant impact in the Greater Washington DC area by enabling economic development and job creation in underserved communities. Through innovative approaches in business training and incubation, Sb Works has assisted approximately 140 small business clients over the past year, with a focus on those serving low and moderate-income areas of the District of Columbia.
Their work primarily involves one-on-one small business consulting, interactive classes, and subsidized third-party consultants on specialty subjects. On average, clients receive 9-15 hours of assistance for their businesses, provided by a combination of salaried staff and independent contractors. The program is primarily funded by local district grants, showcasing a commitment to community improvement and sustainable growth in the region.
This information is meant to be a general summary of Sb Works. 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: $846
- Gross Receipts: $669,058
Assets and Liabilities:
- Total Assets: $472,750
- Total Liabilities: $0
- Net Assets: $472,750
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Contributions from Clients
Revenue
$846
Organization Details
Founding Year
2015
Phone
(202) 803-5400Principal Officer
John Mains
Main Address
2316 RHODE ISLAND AVE NE, WASHINGTON, DC, 20018
Website
www.sbworksdc.orgNTEE Category
Code: S19 - Community improvement
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