Overview
What is Hispanic Business Initiative Fund Inc?
The Hispanic Business Initiative Fund Inc, based in Orlando, Florida, is a nonprofit organization dedicated to fostering economic growth. They specialize in providing bilingual assistance to Hispanic entrepreneurs, offering one-on-one consulting sessions to evaluate the feasibility of their business ideas and potential job creation. Their in-house experts advise on general business practices, financials, licenses/permits, and access to capital, all free of charge. Since its inception, HBIF has assisted over 2,400 business owners across Florida, contributing to the state's economy through quality business development and training for Hispanic entrepreneurs. Their mission is to strengthen Florida's economy by empowering Hispanic entrepreneurs with the necessary resources and guidance.
Official website here: www.prosperausa.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89% (Three-Star out of Four Star rating)
The Hispanic Business Initiative Fund Inc has received an overall rating of 89% from Charity Navigator, indicating a solid level of accountability and transparency in its operations. With a perfect score in the Culture & Community category, the organization demonstrates a strong commitment to engaging with and supporting the community it serves. The high percentage of independent board members and strong financial oversight also contribute positively to its score in Accountability & Finance.
While the organization excels in several areas, there are some noted limitations, particularly regarding missing policies like the Whistleblower and Document Retention and Destruction policies. These deficiencies may impact the perceived robustness of its governance practices. Additionally, although the organization has a program expense ratio of 67.81%, indicating a majority of funds directed towards its programs, there is room for improvement in ensuring comprehensive compliance with best practices in governance.
Overall, the Hispanic Business Initiative Fund Inc demonstrates a commendable commitment to its mission and community, while also showing a need to enhance certain governance aspects to further increase its accountability and transparency.
This AI summary has been generated from information found on Charity Navigator.
Is Hispanic Business Initiative Fund Inc legitimate?
Hispanic Business Initiative Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hispanic Business Initiative Fund 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: $690,126
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,020,383
For more financial information, click here
Official website here: www.prosperausa.org
What is the mission statement of Hispanic Business Initiative Fund Inc?
The Hispanic Business Initiative Fund Inc, a nonprofit organization, is committed to strengthening the economy through quality business development and training for Hispanic entrepreneurs. They provide bilingual assistance, offering one-on-one consulting sessions to assess the viability of business ideas and potential job creation. Their in-house staff advises clients on various aspects such as general business practices, financials, licenses/permits, and access to capital, all provided free of charge. Over the years, they have assisted over 2,400 business owners across Florida.
Official website here: www.prosperausa.org
Who is the CEO of Hispanic Business Initiative Fund Inc?
Augusto Sanabria is the President/Ceo of Hispanic Business Initiative Fund Inc. The CEO's salary of Hispanic Business Initiative Fund Inc is $244,703 and their total compensation is $285,263.
Official website here: www.prosperausa.org
What is the revenue of Hispanic Business Initiative Fund Inc?
Hispanic Business Initiative Fund Inc's revenue in 2022 was $3,295,480.
Official website here: www.prosperausa.org
Who are the executives of Hispanic Business Initiative Fund Inc and what are their salaries?
The average compensation at Hispanic Business Initiative Fund Inc during 2022 was $40,726. There are 42 employees and 100 volunteers at Hispanic Business Initiative Fund Inc.
Here are 21 key members and their salaries (Hispanic Business Initiative Fund Inc's CEO's salary is $244,703 and their total compensation is $285,263):
- Compensation: $244,703
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- Other: $40,560
- Compensation: $153,342
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- Other: $36,149
- Compensation: $124,475
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- Other: $18,005
- Compensation: $100,381
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- Other: $10,888
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Official website here: www.prosperausa.org
Where can I find the form 990 for Hispanic Business Initiative Fund Inc?
Hispanic Business Initiative Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.prosperausa.org
Learn more at the official website: www.prosperausa.org
Mission Statement of Hispanic Business Initiative Fund Inc
Hispanic Business Initiative Fund Inc, a nonprofit organization based in Florida, is dedicated to strengthening the economy through quality business development and training for Hispanic entrepreneurs. The organization's mission is to provide bilingual assistance to these entrepreneurs, helping them assess the viability of their business ideas and the potential job creation of their ventures. This assistance includes advice on general business practices, financials, licenses/permits, and access to capital, among other aspects. Hispanic Business Initiative Fund Inc offers these services free of charge to business owners, thereby aiding a significant number of entrepreneurs in Florida. The organization has assisted 2,402 business owners across the state, demonstrating its commitment to supporting the Hispanic entrepreneurial community.
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Impact
July, 2024
Hispanic Business Initiative Fund Inc's impact is significant in fostering economic development and empowerment among Hispanic entrepreneurs in Florida. Through its one-on-one consulting services, HBIF assesses the viability of business ideas and the potential for job creation, providing vital guidance on various aspects of business operations such as financials, licenses/permits, and access to capital. By offering bilingual assistance free of charge, HBIF enables business owners to overcome language barriers and access essential resources to grow their ventures. In the past year alone, HBIF assisted 2,402 business owners across the state of Florida, contributing to the strengthening of the local economy. Through its mission to provide quality business development and training, HBIF plays a crucial role in fostering community improvement and fostering a more inclusive and prosperous business environment for Hispanic entrepreneurs.
This information is meant to be a general summary of Hispanic Business Initiative Fund 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: $51,310
- Gross Receipts: $3,375,725
Assets and Liabilities:
- Total Assets: $4,303,069
- Total Liabilities: $390,233
- Net Assets: $3,912,836
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Organization Details
Founding Year
1995
Phone
(407) 428-5872Principal Officer
Augusto Sanabria
Main Address
3201 E COLONIAL DRIVE Suite A20, Orlando, FL, 32803
Website
www.prosperausa.orgNTEE Category
Code: S43Z - Community improvement
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