Overview
What is Climb Fund?
Climb Fund is a nonprofit organization situated in Charleston, South Carolina, with a mission to foster economic development and support business growth. They offer various lending programs, such as business builder loans, SBA Microloan Program, small business loan programs, real estate loans, lines of credit, and Quick Recovery Loan programs. These initiatives aim to cater to the funding needs of eligible businesses within their service area. Notably, Climb Fund collaborates with local banks and small business resources in the community, ensuring a holistic approach to financial assistance. With a team of 21 employees, they strive to contribute to the economic prosperity of their community by assisting businesses in their growth journey.
Official website here: www.info@climbfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Climb Fund has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial transparency. With a score of 96% in the Accountability & Finance category, the organization demonstrates effective management of its resources, ensuring that the majority of its funds are directed toward its programs and services.
The organization is governed by a predominantly independent board, consisting of 13 members with 100% independence, which speaks to its strong governance structure. Additionally, the Climb Fund has well-documented policies regarding conflict of interest, whistleblowing, and document retention, further enhancing its credibility and operational integrity.
Notably, the organization has maintained zero material diversion of assets and has a favorable liabilities-to-assets ratio of 30.85%. Its program expense ratio stands at an impressive 86.18%, indicating a substantial investment in its mission. Overall, Climb Fund exemplifies best practices in nonprofit management while upholding high standards of accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Climb Fund legitimate?
Climb Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Climb Fund 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: $137,500
Professional Fundraising Fees: $0
Other Salaries and Wages: $669,301
For more financial information, click here
Official website here: www.info@climbfund.org
What is the mission statement of Climb Fund?
The mission of Climb Fund, as stated in its corporate purpose, is centered around promoting and assisting in the economic growth and development of businesses. This is achieved by engaging in activities that are related or in furtherance of these objectives. To accomplish this, Climb Fund offers various lending programs such as business builder loans, SBA Microloan Program, small business loan programs, real estate loans, lines of credit, and Quick Recovery Loan programs. These funding options are designed to meet the diverse needs of eligible businesses within the organization's service area, working in collaboration with local banks and other small business resources in the community.
Official website here: www.info@climbfund.org
Who is the CEO of Climb Fund?
Cynthia Rourk is the Ceo of Climb Fund. The CEO's salary of Climb Fund is $145,103 and their total compensation is $165,146.
Official website here: www.info@climbfund.org
What is the revenue of Climb Fund?
Climb Fund's revenue in 2022 was $3,082,260.
Official website here: www.info@climbfund.org
Who are the executives of Climb Fund and what are their salaries?
The average compensation at Climb Fund during 2022 was $38,419. There are 21 employees and 20 volunteers at Climb Fund.
Here are 13 key members and their salaries (Climb Fund's CEO's salary is $145,103 and their total compensation is $165,146):
- Compensation: $145,103
- Related: $0
- Other: $20,043
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.info@climbfund.org
Where can I find the form 990 for Climb Fund?
Climb Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.info@climbfund.org
Learn more at the official website: www.info@climbfund.org
Mission Statement of Climb Fund
Climb Fund, as a corporation, is committed to fostering economic development and aiding in the expansion of business ventures. Its mission is geared towards promoting and supporting the growth and development of various business concerns. The organization engages in activities that are related or in furtherance of these objectives. In pursuit of this mission, Climb Fund offers a range of lending programs aimed at providing funding to eligible businesses within its service area. These programs include Business Builder Loans, SBA Microloan Program, small business loan programs, real estate loans, lines of credit, and Quick Recovery Loan programs. These initiatives are designed to cater to the diverse financial needs of businesses, enabling them to meet their various requirements effectively. Climb Fund collaborates with local banks and all small business resources in the community, thereby working in harmony with these entities to facilitate seamless business growth.
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Impact
July, 2024
Climb Fund's impact is significant in promoting economic development and supporting the growth of businesses in Charleston, SC. Through a range of lending programs including business builder loans, SBA Microloan Program, small business loan program, real estate loans, line of credit, and Quick Recovery Loan programs, Climb Fund provides essential funding to eligible businesses in the community. By collaborating with local banks and small business resources, Climb Fund helps meet the diverse needs of businesses, ultimately contributing to the overall improvement of the community.
This information is meant to be a general summary of Climb Fund. 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: -$495,894
- Program Service Revenue: $1,080,729
- Gross Receipts: $3,756,025
Assets and Liabilities:
- Total Assets: $29,703,235
- Total Liabilities: $7,705,651
- Net Assets: $21,997,584
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest Income-Loan
Revenue
$768,025
Loan Applications & SE
Revenue
$236,223
Other Income
Revenue
$50,431
Rental Income
Revenue
$26,050
SBA & USDA Income
Organization Details
Founding Year
1979
Phone
(843) 973-7298Principal Officer
Cynthia Rourk
Main Address
2 Race Street, Charleston, SC, 29403
Website
www.info@climbfund.orgNTEE Category
Code: S31 - Community improvement
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