Overview
What is Community Business Partnership Inc?
Community Business Partnership Inc, situated in Springfield, Virginia, serves as a significant resource for small businesses in need of financial and technical assistance. Based at 6564 Loisdale Court Suite 600, this nonprofit organization provides valuable training opportunities and alternative debt financing for businesses aiming to grow and expand. In response to the needs of the business community, they have made rapid response loans available through the Small Business Association's Community Development Financial Institutions Fund. The primary mission of Community Business Partnership Inc is to empower small businesses, contributing to the overall economic growth and development of the community.
Official website here: www.cbponline.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
Community Business Partnership Inc has earned a high rating of 92% from Charity Navigator, which reflects its strong accountability and financial performance. The organization shows a commitment to transparency and good governance, with an independent board comprising 87% of its members and no reported material diversion of assets. Its financial practices are robust, as indicated by a program expense ratio of 97.34%, meaning that the vast majority of its funds go directly to its programs.
User feedback highlights the positive impact of the Community Business Partnership on individuals seeking to start small businesses, particularly among vulnerable populations. Volunteers and clients praise the organization for its educational programs, mentorship, and the resources it provides to help aspiring entrepreneurs develop business plans and access funding. The supportive environment fostered through seminars and one-on-one meetings with financial experts is noted as a significant benefit for participants.
While the feedback is overwhelmingly positive, it's important to consider that reviews are limited and primarily from users who have had direct experience with the organization's programs. Overall, the Community Business Partnership is viewed as a valuable resource for those looking to improve their financial independence through entrepreneurship.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Community Business Partnership Inc legitimate?
Community Business Partnership Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Business Partnership 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.
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Official website here: www.cbponline.org
What is the mission statement of Community Business Partnership Inc?
Community Business Partnership Inc's mission revolves around offering technical and financial assistance to small businesses. In pursuit of this goal, they operate a Business Finance Center (BFC) that provides financial education and training opportunities. Furthermore, they offer alternative debt financing for businesses aiming to grow and expand. In response to the needs of small businesses, the organization made rapid response loans available through the Small Business Association's Community Development Financial Institutions Fund.
Official website here: www.cbponline.org
Who is the CEO of Community Business Partnership Inc?
Robert Lemay is the Executive Director (Through May 2022) of Community Business Partnership Inc.
Official website here: www.cbponline.org
What is the revenue of Community Business Partnership Inc?
Community Business Partnership Inc's revenue in 2022 was $2,862,044.
Official website here: www.cbponline.org
Who are the executives of Community Business Partnership Inc and what are their salaries?
There 21 volunteers at Community Business Partnership Inc.
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Official website here: www.cbponline.org
Where can I find the form 990 for Community Business Partnership Inc?
Community Business Partnership Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cbponline.org
Learn more at the official website: www.cbponline.org
Mission Statement of Community Business Partnership Inc
Community Business Partnership Inc, a nonprofit organization, is committed to providing technical and financial assistance to small businesses. Their primary mission is to offer financial education and training opportunities, as well as alternative debt financing, to businesses seeking to grow and expand. This support is provided through their Business Finance Center (BFC). In addition, the organization has made new rapid response loans available to small businesses through the Small Business Association's Community Development Financial Institutions Fund. This proactive approach enables businesses to overcome financial challenges and expand their operations, contributing positively to their communities.
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Impact
July, 2024
Community Business Partnership Inc's impact is evident through its provision of technical and financial assistance to small businesses. Through its Business Finance Center (BFC), the organization offers financial education and training opportunities, as well as alternative debt financing options for businesses looking to grow and expand. Additionally, Community Business Partnership Inc has facilitated the availability of new rapid response loans through the Small Business Association's Community Development Financial Institutions Fund. This support directly contributes to the resilience and success of small businesses in Springfield, VA, ultimately fostering economic growth and empowerment within the local community.
This information is meant to be a general summary of Community Business Partnership 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: $203,094
- Gross Receipts: $2,862,044
Assets and Liabilities:
- Total Assets: $3,584,261
- Total Liabilities: $486,536
- Net Assets: $3,097,725
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ROOM AND MAIL BOX RENT
Revenue
$98,180
PROGRAM CLASS FEES
Revenue
$71,828
LOAN INTEREST AND FEES
Revenue
$33,086
Organization Details
Founding Year
1995
Phone
(703) 768-1440Principal Officer
Robert Lemay
Main Address
6564 LOISDALE COURT SUITE 600, SPRINGFIELD, VA, 22150
Website
www.cbponline.orgNTEE Category
Code: A99Z - Arts
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