Overview
What is Microenterprise Development Center?
The Microenterprise Development Center is a nonprofit organization situated in Randalltown, Maryland (specifically at 8938 Harkate Way). Their primary objective is to foster entrepreneurial growth within disadvantaged communities. They achieve this by identifying and developing individuals and small businesses within these distressed areas, providing them with the necessary training to become productive contributors to their community. The center's mission is centered around promoting entrepreneurial development, thereby supporting growth from within the community itself.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Star rating)
The Microenterprise Development Center received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and transparency. The organization's strengths lie in its governance, featuring a fully independent board and excellent performance in program expense, with 90.81% of its expenses going toward programs. These factors suggest that the organization is committed to its mission and effectively utilizes its funds to support its activities.
However, the rating is impacted by limitations in its financial practices, particularly highlighted by a liabilities to assets ratio of 178.86%, which raises concerns about its financial sustainability. Additionally, the absence of a whistleblower policy and a document retention and destruction policy may pose risks in governance practices, further influencing the overall score.
In summary, while the Microenterprise Development Center demonstrates strong commitment to its program goals and governance, financial health and certain policy gaps warrant attention for potential improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Microenterprise Development Center legitimate?
Microenterprise Development Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Microenterprise Development Center 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.
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Other Salaries and Wages: $0
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What is the mission statement of Microenterprise Development Center?
The Microenterprise Development Center's mission is centered around fostering entrepreneurial growth within distressed communities. Its primary objective is to identify and develop individuals and businesses in distress, providing them with the necessary training to become productive members of their community. This organization aims to promote self-sustainability and community development through entrepreneurial ventures.
What is the revenue of Microenterprise Development Center?
Microenterprise Development Center's revenue in 2020 was $11,780.
Who are the executives of Microenterprise Development Center and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Microenterprise Development Center?
Microenterprise Development Center's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Microenterprise Development Center
The Microenterprise Development Center is committed to fostering entrepreneurial growth within distressed communities. Their mission is twofold: firstly, to identify and develop distressed individuals and businesses, and secondly, to equip them with the necessary skills to become productive contributors to their community. By promoting entrepreneurial development from within, the Center aims to stimulate growth and improvement in these communities.
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Impact
August, 2024
The Microenterprise Development Center in Randallstown, MD, plays a significant role in empowering distressed individuals and businesses within the community to become productive and self-sufficient. By promoting entrepreneurial development and providing training opportunities, the center serves as a catalyst for growth from within distressed communities. As a result, the impact of the center is felt through the creation of employment opportunities, the development of skill sets, and the overall enhancement of economic stability within the community.
This information is meant to be a general summary of Microenterprise Development Center. 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 2020.
- Investment Income: $3
- Gross Receipts: $11,780
Assets and Liabilities:
- Total Assets: $6,723
- Total Liabilities: $12,025
- Net Assets: -$5,302
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Organization Details
Founding Year
1999
Principal Officer
Ronald Harvey
NTEE Category
Code: J22 - Employment
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