Overview
What is Miami Bayside Foundation Inc?
Miami Bayside Foundation Inc is a nonprofit organization situated in Miami, Florida, specifically at 25 SE 2nd Street Suite 240. Its primary mission is to foster economic development in South Florida. They specialize in providing loan programs tailored to minority-owned and women-owned businesses, catering to Miami-Dade, Broward, and Monroe counties. With a team of eight dedicated individuals, the foundation aims to contribute positively to the local economy.
Official website here: www.miamibaysidefoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Miami Bayside Foundation Inc has received a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The foundation excels particularly in governance, as demonstrated by its 100% independent board, which ensures that decisions are made without conflicts of interest. Furthermore, its financial management is robust, with a high program expense ratio of 92.77%, indicating that a significant portion of its funds directly supports its mission.
While the organization showcases many strengths, it does fall short in providing a whistleblower policy, which may raise concerns about transparency and risk management. Despite this limitation, the foundation has implemented solid policies related to document retention and conflict of interest, contributing to its overall stability and integrity. The absence of any material diversion of assets also signifies effective stewardship of resources.
Overall, the Miami Bayside Foundation Inc demonstrates a strong performance in financial accountability and governance, making it a trustworthy choice for donors looking to support a nonprofit with a focus on responsible fund management and community impact.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Miami Bayside Foundation Inc?
94% of 9 reviewers on Facebook recommend Miami Bayside Foundation Inc. Here is a summary of their reviews:
The foundation is recognized for its impactful contributions, particularly in fostering innovation and creativity in the community. One reviewer specifically highlighted how their support enabled the establishment of a state-of-the-art makerspace in Wynwood, which plays a significant role in Miami's vibrant arts and startup ecosystem.
Overall, the sentiment reflects a strong appreciation for the foundation's efforts and commitment to enhancing the local community through innovative initiatives. The positive experiences shared suggest that Miami Bayside Foundation Inc. effectively delivers on its mission to support and uplift local projects.
This AI summary has been generated from reviews found on Facebook.
Is Miami Bayside Foundation Inc legitimate?
Miami Bayside Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Miami Bayside Foundation 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: $167,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $430,514
For more financial information, click here
Official website here: www.miamibaysidefoundation.org
What is the mission statement of Miami Bayside Foundation Inc?
The Miami Bayside Foundation Inc is committed to promoting economic development in South Florida. Their mission is to achieve this through various means, including the provision of a loan program for minority- and women-owned businesses in Miami-Dade, Broward, and Monroe counties. By offering financial assistance to these businesses, the foundation aims to stimulate economic growth and create opportunities within the region. The foundation's activities are focused on supporting local enterprises and contributing to the overall economic prosperity of South Florida.
Official website here: www.miamibaysidefoundation.org
Who is the CEO of Miami Bayside Foundation Inc?
Kathleen Murphy is the Chairman of Miami Bayside Foundation Inc.
Official website here: www.miamibaysidefoundation.org
What is the revenue of Miami Bayside Foundation Inc?
Miami Bayside Foundation Inc's revenue in 2022 was $2,648,181.
Official website here: www.miamibaysidefoundation.org
Who are the executives of Miami Bayside Foundation Inc and what are their salaries?
The average compensation at Miami Bayside Foundation Inc during 2022 was $74,689. There are 8 employees and 16 volunteers at Miami Bayside Foundation Inc.
Here are 15 key members and their salaries:
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- Compensation: $167,000
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- Other: $2,860
Official website here: www.miamibaysidefoundation.org
Where can I find the form 990 for Miami Bayside Foundation Inc?
Miami Bayside Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.miamibaysidefoundation.org
Learn more at the official website: www.miamibaysidefoundation.org
Mission Statement of Miami Bayside Foundation Inc
Miami Bayside Foundation Inc, as a mission-driven organization, is committed to fostering economic growth in South Florida. Their primary objective is to advance economic development in the regions of Miami-Dade, Broward, and Monroe Counties. To achieve this, they have established a loan program specifically tailored for minority- and women-owned businesses in these areas. By providing financial assistance, Miami Bayside Foundation Inc aims to empower these businesses and contribute to the overall economic prosperity of South Florida.
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Impact
July, 2024
Miami Bayside Foundation Inc's impact can be seen in its mission to advance the economic development of South Florida. By providing a loan program for minority- and women-owned businesses in Miami-Dade, Broward, and Monroe counties, the organization is actively supporting the growth and success of underrepresented entrepreneurs in the region. This initiative not only helps create more opportunities for these businesses but also contributes to the overall economic vitality of the community.
This information is meant to be a general summary of Miami Bayside Foundation 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: $14,666
- Program Service Revenue: $259,839
- Gross Receipts: $2,730,801
Assets and Liabilities:
- Total Assets: $9,912,605
- Total Liabilities: $4,043,295
- Net Assets: $5,869,310
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM INCOME
Revenue
$259,839
Organization Details
Founding Year
1986
Phone
(305) 379-7070Principal Officer
Kathleen Murphy
Main Address
25 SE 2ND STREET SUITE 240, MIAMI, FL, 33131
NTEE Category
Code: B82 - Education
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