Overview
What is City First Enterprises Inc?
City First Enterprises Inc is a Washington D.C.-based nonprofit organization dedicated to promoting equity and opportunity by increasing access to responsible capital and financial services for underserved communities. Their mission encompasses housing, small businesses, community facilities, non-profits, and other market participants that positively impact low and moderate-income communities. They offer subordinated loans to nonprofits, small businesses, green energy projects, and affordable housing organizations within the Greater Washington Metropolitan Area. Additionally, they provide technical assistance and credit counseling to borrowers, and create permanently affordable housing through a wholly owned subsidiary. City First Enterprises Inc's team consists of 21 employees.
Official website here: www.cfenterprises.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Stars)
City First Enterprises Inc has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. With a score of 93%, the organization showcases strong governance and transparency, exemplified by independent board members and robust conflict of interest policies. Their commitment to financial oversight is evident, as they have no material diversion of assets and maintain thorough audit processes.
The charity excels in program expense efficiency, allocating 97.51% of its funds directly to its programs, which reflects a strong commitment to fulfilling its mission. Additionally, the fundraising efficiency ratio is impressive, indicating that the organization significantly minimizes costs associated with fundraising efforts. This allows more resources to be directed toward their intended purposes.
However, the organization has a liabilities to assets ratio of 60.22%, suggesting potential concerns regarding financial stability in the long term. While this is not unusual for nonprofits, it is worth noting for those considering support. Overall, City First Enterprises Inc demonstrates strong financial practices and ethical governance, contributing positively to its overall rating.
This AI summary has been generated from information found on Charity Navigator.
Is City First Enterprises Inc legitimate?
City First Enterprises Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. City First Enterprises 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: $1,829,172
For more financial information, click here
Official website here: www.cfenterprises.org
What is the mission statement of City First Enterprises Inc?
City First Enterprises Inc strives to promote equity and opportunities in underserved communities by increasing access to responsible capital and complementary financial services. Their ultimate goal is to ensure the long-term well-being and resilience of individuals, families, and institutions. They offer financing and related services for various sectors including housing, small businesses, community facilities, non-profits, and other market participants that positively impact low and moderate income communities. Through a managed portfolio of deployed funds, they provide subordinated loans to nonprofits, small businesses, green energy, and affordable housing organizations. Additionally, they offer technical assistance and credit counseling to borrowers, as well as create permanently affordable housing through a wholly owned subsidiary.
Official website here: www.cfenterprises.org
Who is the CEO of City First Enterprises Inc?
Oswaldo Acosta is the Director of City First Enterprises Inc. The CEO's salary of City First Enterprises Inc is $315,840 and their total compensation is $315,840.
Official website here: www.cfenterprises.org
What is the revenue of City First Enterprises Inc?
City First Enterprises Inc's revenue in 2022 was $55,549,555.
Official website here: www.cfenterprises.org
Who are the executives of City First Enterprises Inc and what are their salaries?
The average compensation at City First Enterprises Inc during 2022 was $87,103. There are 21 employees at City First Enterprises Inc.
Here are 13 key members and their salaries (City First Enterprises Inc's CEO's salary is $315,840 and their total compensation is $315,840):
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- Compensation: $315,840
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- Compensation: $153,782
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- Compensation: $133,464
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- Compensation: $123,538
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- Compensation: $111,924
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- Compensation: $104,419
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- Other: $0
Official website here: www.cfenterprises.org
Where can I find the form 990 for City First Enterprises Inc?
City First Enterprises Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cfenterprises.org
Learn more at the official website: www.cfenterprises.org
Mission Statement of City First Enterprises Inc
City First Enterprises Inc, a mission-driven organization, strives to promote equity and opportunity in underserved communities by increasing access to responsible capital and complementary financial services. With a long-term goal of ensuring the well-being and resilience of individuals, families, and institutions, City First Enterprises offers financing and related services for various sectors, including housing, small businesses, community facilities, non-profits, and other market participants that positively impact low and moderate-income communities.
The organization's primary focus is on providing increased access to essential financial resources and services, which are essential for the sustainable growth and development of underserved communities. City First Enterprises takes a holistic approach by not only offering financing but also providing technical assistance and credit counseling to borrowers. This approach ensures that the organizations and individuals they serve have the necessary knowledge and tools to effectively manage their financial resources and achieve their goals.
City First Enterprises' subordinated loan portfolio primarily targets nonprofits, small businesses, green energy, and affordable housing organizations within the Greater Washington Metropolitan Community. By investing in these organizations, City First Enterprises plays a crucial role in fostering their growth and sustainability, contributing to the overall improvement of the communities they serve. City First Enterprises' wholly-owned subsidiary also focuses on creating permanently affordable housing, further solidifying their commitment to long-term community development.
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Impact
October, 2024
City First Enterprises Inc significantly enhances the economic landscape of underserved communities by expanding access to responsible capital and complementary financial services. By focusing on housing, small businesses, community facilities, and nonprofits, the organization fosters long-term resilience and well-being for individuals, families, and institutions within its target areas.
Through a carefully managed portfolio, City First Enterprises deploys funds in the form of subordinated loans, supporting various sectors such as small businesses, green energy initiatives, and affordable housing organizations in the greater Washington metropolitan area. This strategic approach not only stimulates local economies but also promotes sustainable development practices. Additionally, by offering technical assistance and credit counseling, the organization empowers borrowers to navigate financial challenges effectively, thereby fostering greater economic stability.
The commitment to creating permanently affordable housing through its wholly owned subsidiary further underscores the organization’s impact on community resilience. By ensuring that individuals and families have access to stable housing, City First Enterprises plays a pivotal role in enhancing the quality of life and economic prospects for low and moderate-income communities. Overall, its initiatives contribute to a more equitable and inclusive economic environment that uplifts and supports those in need.
This information is meant to be a general summary of City First Enterprises 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: $1,410,639
- Gross Receipts: $55,549,555
Assets and Liabilities:
- Total Assets: $60,726,218
- Total Liabilities: $34,487,174
- Net Assets: $26,239,044
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Organization Details
Founding Year
1998
Phone
(202) 745-4490Principal Officer
Oswaldo Acosta
Main Address
1 THOMAS CIRCLE NW 700, WASHINGTON, DC, 20005
Website
www.cfenterprises.orgNTEE Category
Code: P20 - Human services
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