Overview
What is Swisscontact North America Inc?
Swisscontact North America Inc, based in New York, New York, is a nonprofit organization committed to promoting economic, social, and ecological development in developing countries such as Africa, Asia, Eastern Europe, and Latin America. Their mission involves reducing poverty by supporting various programs. Notably, they backed a three-year financial inclusion project named SARATHI, which aimed to improve the financial situation of ready-made garment workers in Bangladesh. Despite having a small team of just one employee, Swisscontact North America Inc continues to make a significant impact in fostering sustainable growth and improving livelihoods in these regions.
Official website here: www.swisscontact.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star Rating
Swisscontact North America Inc has received a solid Three-Star rating from Charity Navigator, indicating a strong performance in accountability and finance. This rating is based on a comprehensive evaluation of the organization's financial practices, reflecting its commitment to transparency and responsible management of resources. The organization boasts an impressive Accountability & Finance score of 88%, showcasing effective governance and a healthy financial structure.
The nonprofit demonstrates significant strengths, including a fully independent board and a high program expense ratio of 97.04%, suggesting that the majority of its funds are directed towards its programs rather than overhead costs. Additionally, there are no material diversions of assets noted, which highlights the integrity of its financial operations. This level of accountability is essential for building donor trust and ensuring effective service delivery.
However, there are some areas for improvement, such as the absence of a whistleblower policy and certain documentation related to retention and destruction policies. While these issues do not severely impact the organization's overall rating, addressing them could enhance its governance framework further. Overall, Swisscontact North America Inc reflects a commendable commitment to ethical practices and effective program implementation.
This AI summary has been generated from information found on Charity Navigator.
Is Swisscontact North America Inc legitimate?
Swisscontact North America Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Swisscontact North America 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: $204,778
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.swisscontact.org
What is the mission statement of Swisscontact North America Inc?
Swisscontact North America Inc's mission is focused on promoting economic, social, and ecological development in developing countries, specifically in Africa, Asia, Eastern Europe, and Latin America. Their goal is to help reduce poverty in these regions. To achieve this, Swisscontact North America supports various programs aimed at economic development. In one of their initiatives, they backed Sarathi, a three-year financial inclusion program for ready-made garment workers in Bangladesh.
Official website here: www.swisscontact.org
Who is the CEO of Swisscontact North America Inc?
Therese Feng is the Chairman of Swisscontact North America Inc.
Official website here: www.swisscontact.org
What is the revenue of Swisscontact North America Inc?
Swisscontact North America Inc's revenue in 2022 was $999,998.
Official website here: www.swisscontact.org
Who are the executives of Swisscontact North America Inc and what are their salaries?
The average compensation at Swisscontact North America Inc during 2022 was $204,778. There is 1 employee and 7 volunteers at Swisscontact North America Inc.
Here are 8 key members and their salaries:
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- Compensation: $183,527
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- Other: $21,251
Official website here: www.swisscontact.org
Where can I find the form 990 for Swisscontact North America Inc?
Swisscontact North America Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.swisscontact.org
Learn more at the official website: www.swisscontact.org
Mission Statement of Swisscontact North America Inc
Swisscontact North America Inc is an organization committed to promoting economic, social, and ecological development in the developing countries of Africa, Asia, Eastern Europe, and Latin America. Their mission is to reduce poverty by supporting various initiatives and programs. By doing so, they aim to contribute to the betterment of these countries and the lives of their people.
In line with this mission, Swisscontact North America Inc has supported several projects. One such initiative is their financial inclusion program named Sarathi. This three-year project was implemented in Bangladesh for ready-made garment workers. The goal was to provide financial services and promote financial literacy among this population, thereby empowering them to improve their economic status. By supporting such projects, Swisscontact North America Inc is making a significant contribution to the development of these countries and the improvement of the lives of their people.
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Impact
July, 2024
Swisscontact North America Inc's impact can be seen through their support of programs that promote economic, social, and ecological development in developing countries across Africa, Asia, Eastern Europe, and Latin America. One notable initiative is the financial inclusion program called SARATHI, which focused on providing support to readymade garment workers in Bangladesh over a three-year period. Through their work, Swisscontact North America Inc contributes to reducing poverty and fostering sustainable development in regions that are in need of support. Their efforts align with their mission to create positive change and opportunities for communities in need around the world.
This information is meant to be a general summary of Swisscontact North America 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.
- Gross Receipts: $999,998
Assets and Liabilities:
- Total Assets: $91,654
- Total Liabilities: $12,694
- Net Assets: $78,960
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Organization Details
Founding Year
2008
Phone
(646) 731-2770Principal Officer
Therese Feng
Main Address
REISS 420 LEXINGTON AVE 28FL, NEW YORK, NY, 10170
Website
www.swisscontact.orgNTEE Category
Code: Q330 - International
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