Overview
What is Raza Development Fund Inc?
Raza Development Fund Inc is a Phoenix, Arizona-based nonprofit organization dedicated to providing financing solutions that expand opportunities for the Latino community and low-income families, focusing on affordable housing, education, and healthcare. With a workforce of 48 employees, they offer loan programs to assist Hispanic agencies and other organizations serving low-income communities, enhancing their access to capital, strengthening relationships, and promoting financial literacy. Through these efforts, Raza Development Fund invests in the dreams and hopes of thousands of families, empowering their affiliated organizations to build thriving communities.
Official website here: www.razafund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Stars)
Raza Development Fund Inc has received a Three-Star rating from Charity Navigator, reflecting a solid score of 80%. This rating indicates a generally good level of accountability and financial health, with strong marks for having a majority of independent board members and a comprehensive audit and oversight committee. The organization demonstrates a commitment to transparency and ethical governance, as evidenced by their policies on conflict of interest and whistleblowing.
The nonprofit has a commendable program expense ratio of 82.37%, signifying that a significant portion of its expenses is directed toward its mission-related activities. Additionally, the organization has successfully avoided any material diversion of assets, reinforcing its integrity and trustworthiness. The documentation of board meeting minutes further showcases their commitment to maintaining clarity and accountability in operations.
However, the liabilities to assets ratio is a point of concern, standing at 65.55%, which may indicate a higher level of debt relative to their assets. While this does not immediately raise alarms, it suggests that careful financial management will be crucial for the organization's ongoing stability and growth. Overall, Raza Development Fund Inc demonstrates many strengths, though potential financial vulnerabilities should be monitored closely.
This AI summary has been generated from information found on Charity Navigator.
Is Raza Development Fund Inc legitimate?
Raza Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Raza 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: $2,696,950
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,257,000
For more financial information, click here
Official website here: www.razafund.org
What is the mission statement of Raza Development Fund Inc?
The Raza Development Fund is dedicated to creating financing solutions that expand opportunities for the Latino community and low-income families in the realms of affordable housing, education, and healthcare. Through their investments, they support the aspirations and dreams of various affiliate organizations and not-for-profit social service groups, enabling them to strengthen their communities and positively impact the lives of countless families.
Official website here: www.razafund.org
Who is the CEO of Raza Development Fund Inc?
Mary Ann Donovan is the President/Ceo of Raza Development Fund Inc. The CEO's salary of Raza Development Fund Inc is $0 and their total compensation is $0.
Official website here: www.razafund.org
What is the revenue of Raza Development Fund Inc?
Raza Development Fund Inc's revenue in 2022 was $48,137,884.
Official website here: www.razafund.org
Who are the executives of Raza Development Fund Inc and what are their salaries?
The average compensation at Raza Development Fund Inc during 2022 was $124,041. There are 48 employees and 9 volunteers at Raza Development Fund Inc.
Here are 22 key members and their salaries (Raza Development Fund Inc's CEO's salary is $0 and their total compensation is $0):
- Compensation: $508,291
- Related: $0
- Other: $43,677
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $615,995
- Other: $52,846
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $294,322
- Related: $0
- Other: $54,696
- Compensation: $282,920
- Related: $0
- Other: $42,096
- Compensation: $278,961
- Related: $0
- Other: $53,459
- Compensation: $174,740
- Related: $0
- Other: $33,143
- Compensation: $140,625
- Related: $0
- Other: $41,317
- Compensation: $165,888
- Related: $0
- Other: $44,243
- Compensation: $165,252
- Related: $0
- Other: $44,197
- Compensation: $159,686
- Related: $0
- Other: $43,743
- Compensation: $132,694
- Related: $0
- Other: $30,812
- Compensation: $131,535
- Related: $0
- Other: $41,289
Official website here: www.razafund.org
Where can I find the form 990 for Raza Development Fund Inc?
Raza Development Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.razafund.org
Learn more at the official website: www.razafund.org
Mission Statement of Raza Development Fund Inc
Raza Development Fund Inc, a mission-driven organization, aims to create financing solutions that enlarge opportunities for the Latino community and low-income families in the realms of affordable housing, education, and healthcare. By genuinely investing in the dreams and hopes of UnidosUS affiliates and other not-for-profit social service organizations, Raza Development Fund Inc facilitates community-building, ultimately reaching and improving the lives of countless families.
Through its dedication to the Latino community and economically disadvantaged groups, Raza Development Fund Inc strives to foster sustainable growth in three key areas. Firstly, affordable housing, a fundamental requirement for a stable living situation, is given a significant focus. The organization's efforts extend beyond just financing, touching every aspect of housing development, from conceptualization to completion.
Secondly, education is another critical sector where Raza Development Fund Inc plays a pivotal role. Their financial commitments and support enable educational institutions to provide quality learning experiences for students and ensure equal opportunities for all. This investment in education sets the foundation for a brighter future, enabling individuals to break the cycle of poverty and build stronger, self-sufficient communities.
Lastly, the organization's dedication to healthcare is essential in promoting the overall well-being of those it serves. By providing financing solutions for healthcare projects, Raza Development Fund Inc empowers organizations to deliver essential services and treatments, ensuring that individuals have access to the care they need to live healthy, productive lives.
In summary, Raza Development Fund Inc is a catalyst for change, using its financial resources to create opportunities and bring about positive transformation in the lives of the Latino community and low-income families, with a focus on affordable housing, education, and healthcare. By embracing a people-centric approach and collaborating with organizations dedicated to social betterment, Raza Development Fund Inc is helping to build thriving, resilient communities.
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Impact
October, 2024
Raza Development Fund Inc significantly impacts the Latino community and low-income families by creating innovative financing solutions aimed at enhancing access to affordable housing, education, and healthcare. By providing loan programs specifically designed for Hispanic agencies and other organizations serving underserved communities, Raza Development Fund increases access to capital, thereby empowering these agencies to make meaningful contributions to their communities.
The Fund not only strengthens relationships with affiliates, such as UnidosUS affiliates, but also promotes economic and financial literacy at the agency level. This comprehensive support helps build the capacity of social service organizations, enabling them to touch the lives of thousands of families. Through these efforts, Raza Development Fund cultivates opportunities for growth, stability, and upward mobility, contributing to the broader improvement of community well-being.
This information is meant to be a general summary of Raza 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: $279,354
- Program Service Revenue: $18,238,050
- Gross Receipts: $48,137,884
Assets and Liabilities:
- Total Assets: $296,838,353
- Total Liabilities: $194,599,049
- Net Assets: $102,239,304
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$12,751,755
NMTC/LOAN FEES
Revenue
$4,060,048
ORIGINATION FEES
Revenue
$1,426,247
Organization Details
Founding Year
1996
Phone
(602) 417-1400Principal Officer
Mary Ann Donovan
Main Address
410 E SOUTHERN AVE, PHOENIX, AZ, 85040
Website
www.razafund.orgNTEE Category
Code: S43Z - Community improvement
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