Overview
What is Maryland Capital Enterprises Inc?
Maryland Capital Enterprises Inc is a nonprofit organization situated in Salisbury, Maryland. Their primary mission is to support and empower aspiring entrepreneurs by offering various resources. This includes counseling, technical assistance, training, and loans for micro businesses. They assist potential entrepreneurs in developing their business ideas, providing them with necessary checklists and helping create comprehensive business and marketing plans. Furthermore, Maryland Capital Enterprises Inc offers training programs on the initial stages of business establishment, marketing strategies, and writing a business plan, aiding a substantial number of individuals. Their financial assistance extends to providing loans to micro businesses, totaling over $4.5 million, to help them grow and create employment opportunities. Overall, this organization aims to foster business expansion and generate wealth across Maryland's Eastern Shore and beyond.
Official website here: www.marylandcapital.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
Maryland Capital Enterprises Inc has received a strong rating of 96%, indicating exceptional performance in accountability and finance. The charity's score is entirely derived from a single beacon score, which reflects its commitment to transparency and responsible management of resources. The organization has a fully independent board, highlighting strong governance practices that are critical for maintaining donor trust.
The financial health of Maryland Capital Enterprises Inc is underscored by a program expense ratio of 88.97%, suggesting that a significant majority of its funds are directed towards its programs rather than administrative costs. Additionally, the organization has demonstrated no material diversion of assets, further solidifying its reputation as a reliable steward of donor contributions.
Notable policies such as conflict of interest, whistleblower protections, and document retention are all in place, showcasing the organization's dedication to ethical standards and operational integrity. Overall, while the organization excels in financial transparency and governance, continued vigilance in these areas will be crucial for sustaining its strong reputation.
This AI summary has been generated from information found on Charity Navigator.
Is Maryland Capital Enterprises Inc legitimate?
Maryland Capital Enterprises Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maryland Capital 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: $81,144
Professional Fundraising Fees: $0
Other Salaries and Wages: $534,119
For more financial information, click here
Official website here: www.marylandcapital.org
What is the mission statement of Maryland Capital Enterprises Inc?
Maryland Capital Enterprises Inc's mission is centered around empowering businesses to expand, create job opportunities, and stimulate economic growth beyond Maryland's Eastern Shore and throughout the state. They achieve this through various means, including business counseling, technical assistance, training, and providing loans to micro businesses. The organization offers guidance to potential entrepreneurs, helping them develop their business ideas and create comprehensive business and marketing plans. Moreover, Maryland Capital Enterprises Inc offers training in starting a business, marketing strategies, and writing a business plan, assisting a considerable number of individuals. Additionally, they offer loans to micro businesses, providing financial support to a total of 96 businesses, amounting to $4,504,534.
Official website here: www.marylandcapital.org
Who is the CEO of Maryland Capital Enterprises Inc?
Maurice Ames is the Board Chairman of Maryland Capital Enterprises Inc.
Official website here: www.marylandcapital.org
What is the revenue of Maryland Capital Enterprises Inc?
Maryland Capital Enterprises Inc's revenue in 2022 was $4,365,107.
Official website here: www.marylandcapital.org
Who are the executives of Maryland Capital Enterprises Inc and what are their salaries?
The average compensation at Maryland Capital Enterprises Inc during 2022 was $51,272. There are 12 employees at Maryland Capital Enterprises Inc.
Here are 14 key members and their salaries:
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- Compensation: $83,373
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Official website here: www.marylandcapital.org
Where can I find the form 990 for Maryland Capital Enterprises Inc?
Maryland Capital Enterprises Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.marylandcapital.org
Learn more at the official website: www.marylandcapital.org
Mission Statement of Maryland Capital Enterprises Inc
Maryland Capital Enterprises Inc, as stated in its mission, aims to empower businesses to grow, create jobs, and generate wealth not just in Maryland's Eastern Shore but across the state. This nonprofit organization provides various services to achieve this goal, including business counseling, technical assistance, training, and loans to micro businesses. It assists potential entrepreneurs by offering them a business idea checklist, business and marketing plan assistance, and guidance on the first steps to starting a business, marketing, and writing a business plan, helping 1,643 individuals. Furthermore, Maryland Capital Enterprises Inc provides loans to micro businesses, offering 96 loans amounting to $4,504,534, thus contributing to the growth of small businesses in the state.
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Impact
July, 2024
Maryland Capital Enterprises Inc empowers businesses to grow, create jobs, and generate wealth on Maryland's Eastern Shore and across the state. Through counseling, technical assistance, training in business startup, and loans to micro businesses, they provide crucial support to entrepreneurs. By offering assistance with business ideas, startup checklists, business and marketing plans, and training in various aspects of business management, they have positively impacted 878 individuals. Additionally, their training programs have benefited 1,643 people by providing guidance on starting a business, marketing strategies, and business plan development. Moreover, Maryland Capital Enterprises Inc has facilitated 96 loans totaling $4,504,534 to micro businesses, further contributing to economic growth and job creation in the region. Their dedication to empowering businesses and supporting entrepreneurship underscores their significant impact on Maryland's business landscape.
This information is meant to be a general summary of Maryland Capital 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: $439,807
- Program Service Revenue: $96,864
- Gross Receipts: $4,390,540
Assets and Liabilities:
- Total Assets: $14,370,927
- Total Liabilities: $4,282,981
- Net Assets: $10,087,946
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN FEES
Revenue
$90,635
TRAINING ASSISTANCE FE
Revenue
$6,229
Organization Details
Founding Year
1998
Phone
(410) 546-1900Principal Officer
Maurice Ames
Main Address
PO BOX 213, SALISBURY, MD, 218030213
Website
www.marylandcapital.orgNTEE Category
Code: P51 - Human services
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