Overview
What is Instituto Socio-Economico Comunitario Inc?
Instituto Socio-Economico Comunitario Inc, a Puerto Rican nonprofit based in San Juan, focuses on combating poverty among individuals, families, and low-income communities through integrated services. They offer on-the-job training, emergency assistance, community development, and economic development programs. Their mission is to empower individuals and communities to achieve self-sufficiency through the use of technical and educational resources. With a team of 57 employees, they aim to promote economic and social improvement in Puerto Rico.
Official website here: www.insec.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 64%, Two-Star out of Four Star rating.
Instituto Socio-Economico Comunitario Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement despite some strengths in governance and financial practices. The organization boasts a fully independent board and has shown transparency in key policies, including conflict of interest and whistleblower protections. Its program expense ratio is notably high at 90.02%, suggesting a strong commitment to allocating funds toward its mission.
However, the organization faces significant challenges that have impacted its overall rating. The absence of documentation for board meeting minutes and a missing tax form on its website are critical transparency issues. Additionally, the liabilities to assets ratio is concerning at 96.20%, indicating potential financial strain that could affect its sustainability and operational effectiveness.
Overall, while Instituto Socio-Economico Comunitario Inc demonstrates solid governance practices and a commitment to its programs, it is essential for the organization to address these limitations to improve its accountability and financial health for the benefit of its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Instituto Socio-Economico Comunitario Inc legitimate?
Instituto Socio-Economico Comunitario Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Instituto Socio-Economico Comunitario 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: $162,438
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,822,461
For more financial information, click here
Official website here: www.insec.org
What is the mission statement of Instituto Socio-Economico Comunitario Inc?
The Instituto Socio-Economico Comunitario Inc was established to foster the removal of poverty among individuals, families, and communities with limited income in Puerto Rico. Through this organization, they provide integrated services with a focus on technical and educational tools to promote economic and social self-sufficiency. This is achieved through various programs such as On the Job Training, Emergency Services, Community Development, and Economic Development. The mission of the Instituto Socio-Economico Comunitario Inc is to empower individuals to break the cycle of poverty and build a more stable and self-sufficient future for themselves and their communities.
Official website here: www.insec.org
Who is the CEO of Instituto Socio-Economico Comunitario Inc?
Arleen Padua Irizarry is the Executive Director of Instituto Socio-Economico Comunitario Inc.
Official website here: www.insec.org
What is the revenue of Instituto Socio-Economico Comunitario Inc?
Instituto Socio-Economico Comunitario Inc's revenue in 2022 was $23,369,542.
Official website here: www.insec.org
Who are the executives of Instituto Socio-Economico Comunitario Inc and what are their salaries?
The average compensation at Instituto Socio-Economico Comunitario Inc during 2022 was $34,823. There are 57 employees at Instituto Socio-Economico Comunitario Inc.
Here are 12 key members and their salaries:
- Compensation: $112,188
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $8,550
- Compensation: $0
- Related: $0
- Other: $7,500
- Compensation: $0
- Related: $0
- Other: $6,000
- Compensation: $0
- Related: $0
- Other: $5,250
- Compensation: $0
- Related: $0
- Other: $4,650
- Compensation: $0
- Related: $0
- Other: $3,750
- Compensation: $0
- Related: $0
- Other: $3,600
- Compensation: $0
- Related: $0
- Other: $3,300
- Compensation: $0
- Related: $0
- Other: $3,300
- Compensation: $0
- Related: $0
- Other: $2,250
- Compensation: $0
- Related: $0
- Other: $2,100
Official website here: www.insec.org
Where can I find the form 990 for Instituto Socio-Economico Comunitario Inc?
Instituto Socio-Economico Comunitario Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.insec.org
Learn more at the official website: www.insec.org
Mission Statement of Instituto Socio-Economico Comunitario Inc
Instituto Socio-Economico Comunitario Inc, a nonprofit organization, is dedicated to inspiring the breaking of the poverty cycle among individuals, families, and communities in Puerto Rico. Through its mission, the institute aims to provide integrated services that combine technical, social, economic, and educational tools, fostering self-sufficiency and economic and social growth.
The organization's commitment to overcoming poverty is manifested through various programs, including On the Job Training, Emergency Services, and Community Development and Economic Development. On the Job Training focuses on equipping individuals with the necessary skills and knowledge to secure employment and improve their financial situation. Emergency Services provide essential assistance during critical moments, ensuring that the most vulnerable populations receive the help they need. Meanwhile, Community Development and Economic Development initiatives empower communities by promoting economic growth and social development, enabling them to thrive and achieve self-sufficiency.
Instituto Socio-Economico Comunitario Inc's impact extends beyond the individual level, as it addresses the complex needs of low-income communities in Puerto Rico. By providing a comprehensive range of services tailored to the specific challenges faced by these communities, the organization fosters a supportive environment conducive to lasting change. Through its commitment to empowerment and self-sufficiency, Instituto Socio-Economico Comunitario Inc is a beacon of hope for those seeking a better future.
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
Instituto Socio-Economico Comunitario Inc plays a crucial role in combating poverty in Puerto Rico through its integrated service offerings. By providing technical and educational tools, the organization fosters economic and social self-sufficiency for individuals, families, and low-income communities.
Through its diverse programs, such as On the Job Training, Emergency Services, Community Development, and Economic Development, Instituto Socio-Economico Comunitario Inc empowers participants to overcome economic challenges. These initiatives not only enhance individual skills and employability but also support community-building efforts that contribute to overall neighborhood resilience.
As a result, the organization cultivates a more sustainable future for the communities it serves, helping to break the cycle of poverty and enable residents to achieve greater self-reliance and improved quality of life.
This information is meant to be a general summary of Instituto Socio-Economico Comunitario 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: $153
- Gross Receipts: $23,369,542
Assets and Liabilities:
- Total Assets: $6,047,369
- Total Liabilities: $5,680,425
- Net Assets: $366,944
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
1985
Phone
(787) 763-5230Principal Officer
Arleen Padua Irizarry
Website
www.insec.orgNTEE Category
Code: P20 - Human services
If you are a representative of Instituto Socio-Economico Comunitario 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.