Overview
What is Ecdc Enterprise Development Group?
Ecdc Enterprise Development Group is a nonprofit organization located in Arlington, Virginia, with a focus on community and economic development. Their primary mission is to support small business entrepreneurs of modest means by offering microloans and technical assistance. With a team of 19 dedicated individuals, they serve as an intermediary, bridging the gap between these entrepreneurs and the financial resources they need to establish and grow their businesses. Their Micro Enterprise Development Program is a key aspect of their work, providing the essential tools for small-scale business success.
Official website here: www.entdevgroup.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 88% - Three-Star out of Four Star rating
Ecdc Enterprise Development Group has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and finance management. The organization scored well on various metrics, particularly in having an entirely independent board and high-quality financial audits. The program expense ratio is commendable, with 80.7% of expenses directed towards its programs.
However, there are notable limitations in its governance practices. The absence of a whistleblower policy and a document retention and destruction policy reflect areas where the organization could improve its operational transparency and risk management. Addressing these gaps could enhance its overall rating and public trust.
Overall, while Ecdc Enterprise Development Group demonstrates strong financial accountability, enhancing its governance policies could further strengthen its effectiveness and credibility in serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Ecdc Enterprise Development Group legitimate?
Ecdc Enterprise Development Group is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ecdc Enterprise Development Group 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: $78,104
Professional Fundraising Fees: $0
Other Salaries and Wages: $908,294
For more financial information, click here
Official website here: www.entdevgroup.org
What is the mission statement of Ecdc Enterprise Development Group?
The mission of Ecdc Enterprise Development Group is centered around promoting community and economic development. They accomplish this by acting as an intermediary, offering microloans and providing technical assistance to small businesses. These businesses are primarily run by entrepreneurs with moderate to low income levels. Their primary activity is to support the Micro Enterprise Development Program, which focuses on offering financial aid and guidance to these small business owners.
Official website here: www.entdevgroup.org
Who is the CEO of Ecdc Enterprise Development Group?
Tsehaye Teferra Phd is the President of Ecdc Enterprise Development Group.
Official website here: www.entdevgroup.org
What is the revenue of Ecdc Enterprise Development Group?
Ecdc Enterprise Development Group's revenue in 2022 was $5,175,747.
Official website here: www.entdevgroup.org
Who are the executives of Ecdc Enterprise Development Group and what are their salaries?
The average compensation at Ecdc Enterprise Development Group during 2022 was $51,916. There are 19 employees and 3 volunteers at Ecdc Enterprise Development Group.
Here are 5 key members and their salaries:
- Compensation: $78,104
- Related: $183,528
- Other: $45,663
- Compensation: $0
- Related: $180,820
- Other: $40,103
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.entdevgroup.org
Where can I find the form 990 for Ecdc Enterprise Development Group?
Ecdc Enterprise Development Group's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.entdevgroup.org
Learn more at the official website: www.entdevgroup.org
Mission Statement of Ecdc Enterprise Development Group
Ecdc Enterprise Development Group, as a nonprofit organization, is committed to fostering community and economic development. They accomplish this mission by functioning as an intermediary, offering microloans and providing technical assistance to small businesses. These businesses are operated by entrepreneurs who fall within the income bracket of low to moderate. By providing this financial and educational support, Ecdc Enterprise Development Group aims to empower these entrepreneurs, thereby contributing to the overall growth and development of their communities.
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Impact
July, 2024
Ecdc Enterprise Development Group has a significant impact on communities by promoting economic development through its Micro Enterprise Development Program. By providing microloans and technical assistance to small business entrepreneurs, particularly those who are low to moderate income, the organization helps to stimulate local economies, create jobs, and empower individuals to achieve financial stability. Through its efforts, Ecdc Enterprise Development Group plays a crucial role in supporting entrepreneurship and fostering economic growth in the areas it serves.
This information is meant to be a general summary of Ecdc Enterprise Development Group. 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: $4,342
- Program Service Revenue: $627,016
- Gross Receipts: $5,175,747
Assets and Liabilities:
- Total Assets: $19,227,523
- Total Liabilities: $6,600,140
- Net Assets: $12,627,383
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Fee for Service
Revenue
$31,958
Interest Micro Loans
Revenue
$591,498
Penalties and Late Char
Revenue
$3,560
Organization Details
Founding Year
1998
Principal Officer
Tsehaye Teferra Phd
Main Address
901 South Highland Street, Arlington, VA, 22204
Website
www.entdevgroup.orgNTEE Category
Code: T20 - Philanthropy
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