Overview
What is Baltimore County Small Business Loan Fund Inc?
Baltimore County Small Business Loan Fund Inc is a nonprofit organization situated in Towson, Maryland, specifically at 400 Washington Avenue 100. Their primary mission is to support and foster the growth of existing and emerging small businesses within Baltimore County. By providing financing, they aim to decrease unemployment rates and expand the tax base in the area. Throughout the year, they assisted two borrowers with their financial needs, furthering their objective to contribute to the local business sector.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star Rating)
The Baltimore County Small Business Loan Fund Inc receives a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. The rating is particularly strong due to its high marks for having a fully independent board, with all 21 members meeting this criterion. The organization also demonstrates commendable practices in document retention and meeting documentation, indicating a commitment to transparency and good governance.
Strengths highlighted include a favorable liabilities to assets ratio of 43.88%, showcasing effective financial management. Additionally, the organization allocates a significant 89.15% of its expenses directly to programs, signifying that the majority of funds are directed towards its mission of supporting small businesses. These factors contribute to an overall impression of a well-managed nonprofit focused on its goals.
While the organization has shown strong performance metrics, the rating is based solely on accountability and finance. There may be additional aspects of the organization’s effectiveness and impact that aren't captured in this score, which could be worth exploring for a more comprehensive understanding of its operations and achievements.
This AI summary has been generated from information found on Charity Navigator.
Is Baltimore County Small Business Loan Fund Inc legitimate?
Baltimore County Small Business Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Baltimore County Small Business Loan 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
What is the mission statement of Baltimore County Small Business Loan Fund Inc?
Baltimore County Small Business Loan Fund Inc's mission is centered around assisting both established and emerging small businesses in their expansion efforts. This mission aims to contribute to decreasing the unemployment rate and enhancing the tax base within the community. The organization provides financing to support this expansion, demonstrating a commitment to fostering business growth and economic development. However, the provided information does not detail any specific strategies or initiatives undertaken by the fund to achieve these goals.
Who is the CEO of Baltimore County Small Business Loan Fund Inc?
Leonard J Howie Iii is the President of Baltimore County Small Business Loan Fund Inc.
What is the revenue of Baltimore County Small Business Loan Fund Inc?
Baltimore County Small Business Loan Fund Inc's revenue in 2022 was $30,708.
Who are the executives of Baltimore County Small Business Loan Fund Inc and what are their salaries?
There 19 volunteers at Baltimore County Small Business Loan Fund Inc.
Here are 21 key members and their salaries:
- 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: $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: $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
Where can I find the form 990 for Baltimore County Small Business Loan Fund Inc?
Baltimore County Small Business Loan Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Baltimore County Small Business Loan Fund Inc
Baltimore County Small Business Loan Fund Inc is dedicated to aiding the growth of existing and emerging small businesses within Baltimore County. Their mission is twofold, aiming to reduce the unemployment rate and boost the tax base by providing financial support. By assisting small businesses, this organization contributes to the overall economic development of the community, ultimately fostering a thriving business environment. Their objective is to help these enterprises expand, thereby creating job opportunities and bolstering the local economy. The organization's activities are focused on providing financing to eligible borrowers, thereby supporting the growth and sustainability of small businesses in Baltimore County.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
August, 2024
The Baltimore County Small Business Loan Fund Inc's impact is evident in its dedication to helping existing and future small businesses expand in Baltimore County. By continuing the financing for two borrowers through the year, this organization actively contributes to the economic growth and development of the local community. Through their efforts, they are not only reducing the unemployment rate but also increasing the tax base, ultimately leading to a positive impact on the overall well-being of Baltimore County.
This information is meant to be a general summary of Baltimore County Small Business Loan 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.
- Program Service Revenue: $30,708
- Gross Receipts: $30,708
Assets and Liabilities:
- Total Assets: $1,636,111
- Total Liabilities: $769,102
- Net Assets: $867,009
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$30,708
Organization Details
Founding Year
1996
Phone
(410) 887-8005Principal Officer
Leonard J Howie Iii
Main Address
400 WASHINGTON AVENUE 100, TOWSON, MD, 21204
NTEE Category
Code: S20 - Community improvement
If you are a representative of Baltimore County Small Business Loan Fund Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.