Overview
What is Institute Capital Inc?
Institute Capital Inc is a nonprofit organization, recognized as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury. Its mission lies in fostering community development, expanding economic opportunities, and promoting affordable housing in specific regions. This includes North Carolina, South Carolina, Virginia, West Virginia, Kentucky, and the DC metro area. The organization primarily relies on government grants and income from loans to support its initiatives. Institute Capital Inc's primary role is to develop or preserve affordable housing and stimulate community and economic development, ultimately aiming to enhance economic opportunities for the benefited communities.
Official website here: www.theinstitutenc.org/icap
What are the reviews and ratings of this charity?
Charity Navigator rating: 81%, Three-Star out of Four Star rating.
Institute Capital Inc has received a solid rating of 81%, reflecting effective accountability and financial management. The charity boasts a fully independent board with 88% of its members being independent, ensuring robust governance. It has also received full marks for its financial oversight, including a well-functioning audit committee and no reported material diversion of assets.
The organization excels in maintaining transparency with all necessary policies in place, including those for conflict of interest and whistleblowing. Additionally, it demonstrates a strong commitment to its mission with a program expense ratio of 84.30%, indicating that a significant portion of its funds is dedicated to its programs rather than administrative costs.
While the rating is commendable, potential donors may want to explore specific program outcomes to better understand the impact of their contributions. Overall, Institute Capital Inc appears to be a well-managed nonprofit with a strong focus on accountability and program effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Institute Capital Inc legitimate?
Institute Capital Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Institute Capital 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: $204,007
Professional Fundraising Fees: $0
Other Salaries and Wages: $366,490
For more financial information, click here
Official website here: www.theinstitutenc.org/icap
What is the mission statement of Institute Capital Inc?
Institute Capital Inc, as a not-for-profit organization, is committed to developing and preserving affordable housing, encouraging community and economic development, and expanding economic opportunities. They achieve this by providing financing for community development activities. Being a Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury, Institute Capital Inc is primarily supported by government grants and income from loans. The organization's investment area extends to North Carolina, South Carolina, Virginia, West Virginia, Kentucky, and the DC metro area.
Official website here: www.theinstitutenc.org/icap
Who is the CEO of Institute Capital Inc?
Kevin J Price is the President/Ce of Institute Capital Inc.
Official website here: www.theinstitutenc.org/icap
What is the revenue of Institute Capital Inc?
Institute Capital Inc's revenue in 2022 was $2,867,118.
Official website here: www.theinstitutenc.org/icap
Who are the executives of Institute Capital Inc and what are their salaries?
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $182,470
- Other: $14,331
- Compensation: $0
- Related: $114,919
- Other: $12,138
- Compensation: $0
- Related: $110,977
- Other: $11,957
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- Other: $0
Official website here: www.theinstitutenc.org/icap
Where can I find the form 990 for Institute Capital Inc?
Institute Capital Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.theinstitutenc.org/icap
Learn more at the official website: www.theinstitutenc.org/icap
Mission Statement of Institute Capital Inc
Institute Capital Inc, a not-for-profit organization, is committed to a threefold mission. Their primary objective is to develop and preserve affordable housing, encouraging and stimulating community and economic development. Furthermore, they aim to expand economic opportunities and provide financing for community development activities. Institute Capital Inc is recognized as a Community Development Financial Institution (CDFI) by the U.S. Department of the Treasury. They primarily rely on government grants and income from loans to support their operations. Their investment area encompasses North Carolina, South Carolina, Virginia, West Virginia, Kentucky, and the DC metro area.
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Impact
July, 2024
Institute Capital Inc's impact lies in its role as a Community Development Financial Institution (CDFI) certified by the U.S. Department of the Treasury. By providing leadership and capital investments, Institute Capital Inc encourages and stimulates community development, expands economic opportunities, and offers financing for community and economic development activities. Through its efforts, it contributes to the development and preservation of affordable housing, promotes community and economic growth, and fosters increased access to financial resources in its investment area spanning North Carolina, South Carolina, Virginia, West Virginia, Kentucky, and the DC Metro Area. Their work directly impacts the improvement and advancement of these communities.
This information is meant to be a general summary of Institute Capital 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: -$4,839
- Program Service Revenue: $1,492,888
- Gross Receipts: $2,900,905
Assets and Liabilities:
- Total Assets: $25,442,652
- Total Liabilities: $20,120,816
- Net Assets: $5,321,836
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCOME FROM LOANS
Revenue
$1,004,863
CONTRACT SERVICE FEES
Revenue
$488,025
Organization Details
Founding Year
1999
Phone
(919) 956-8889Principal Officer
Kevin J Price
Main Address
PO BOX 1331, DURHAM, NC, 27702
Website
www.theinstitutenc.org/icapNTEE Category
Code: S30 - Community improvement
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