Overview
What is Bac Funding Consortium Inc?
Bac Funding Consortium Inc is a Florida-registered, nonprofit organization situated in Miami, Florida. Established under the sponsorship of Bac Funding Corporation, its mission is to stimulate economic growth within the African-American community. The Consortium's board consists of community leaders, local government representatives, minority businesspeople, professionals, and various business organizations, alongside financial institution members. By providing an alternative avenue for financial institutions to engage, the Consortium aims to contribute to the revitalization of the African-American community.
Is Bac Funding Consortium Inc legitimate?
Bac Funding Consortium Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Bac Funding Consortium 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Bac Funding Consortium Inc?
The Bac Funding Consortium Inc was established with a mission to provide an alternate avenue for financial institutions to contribute to the economic enhancement of the African-American community. As a not-for-profit organization, it brings together various entities such as community leaders, local government, minority business owners, professional organizations, and financial institutions to collectively revitalize this community. Under the sponsorship of the Bac Funding Corporation, the Consortium aims to offer a platform that encourages financial institutions to actively participate in the economic growth and development of the African-American community.
Who is the CEO of Bac Funding Consortium Inc?
Ronald Frazier is the Chairman of Bac Funding Consortium Inc.
What is the revenue of Bac Funding Consortium Inc?
Bac Funding Consortium Inc's revenue in 2022 was $130,736.
Who are the executives of Bac Funding Consortium Inc and what are their salaries?
There 3 volunteers at Bac Funding Consortium Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Bac Funding Consortium Inc?
Bac Funding Consortium Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bac Funding Consortium Inc
Bac Funding Consortium Inc, a Florida-chartered not-for-profit corporation, was established with a mission to offer an alternative approach for financial institutions to contribute to the economic revitalization of the African-American community. The consortium, sponsored by Bac Funding Corporation, aims to accomplish this mission through its board of directors, comprising community leaders, local government representatives, minority businesspersons, professional organizations, and financial institution members. The consortium serves as a platform for these entities to collaborate and work towards the economic empowerment of the African-American community.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Bac Funding Consortium Inc plays a significant role in fostering economic revitalization within the African-American community, primarily by providing a platform for financial institutions to engage in impactful initiatives. Through its strategic partnerships and collaborative efforts, the Consortium facilitates access to financial resources that empower local businesses and promote community development.
The organization brings together a diverse group of stakeholders, including community leaders, local government representatives, and minority businesspersons, which enhances its ability to address the unique challenges faced by the African-American community. By leveraging this network, Bac Funding Consortium Inc encourages investment, entrepreneurship, and sustainable economic growth.
The Consortium’s activities contribute to the enhancement of business opportunities and the overall economic landscape in Miami and surrounding areas. Its mission underscores the importance of collective action in driving community improvement, ensuring that financial institutions can effectively support initiatives that lead to lasting change and empowerment for underrepresented populations.
This information is meant to be a general summary of Bac Funding Consortium 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: $32
- Program Service Revenue: $130,111
- Gross Receipts: $130,736
Assets and Liabilities:
- Total Assets: $2,166,190
- Total Liabilities: $0
- Net Assets: $2,166,190
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest on loans
Revenue
$101,116
Loan fees
Revenue
$28,995
Organization Details
Founding Year
1982
Phone
(305) 693-3550Principal Officer
Ronald Frazier
Main Address
6600 NW 27TH AVENUE, MIAMI, FL, 33147
NTEE Category
Code: S31 - Community improvement
If you are a representative of Bac Funding Consortium Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.