Overview
What is Liftfund Inc?
Liftfund Inc is a nonprofit organization headquartered in San Antonio, Texas. Their mission revolves around providing capital and essential services to underprivileged small businesses and entrepreneurs. By offering these resources, Liftfund helps strengthen businesses, increase incomes, create employment opportunities, and contribute to the economic growth of their communities. During the COVID-19 pandemic, they played a significant role as a subrecipient, distributing Federal American Rescue Plan Act (ARPA) grants on behalf of several cities, counties, and municipalities. As a result, they awarded 1,681 grants worth over $28 million to various small businesses, providing vital support during challenging times. With a team of 137 employees, Liftfund remains committed to serving and empowering small businesses and entrepreneurs.
Official website here: www.liftfund.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
LiftFund Inc has achieved a Four-Star rating from Charity Navigator, indicating a high level of transparency and financial health. The organization demonstrates robust accountability and finance practices, with a score of 96 in this area. Their commitment to independent oversight is evident, boasting a 100% independent board. The high program expense ratio of 95.51% reflects their focus on directly benefiting their programs.
The nonprofit also excels in leadership and adaptability, scoring a perfect 100 in this category. Their efforts in community engagement are noteworthy, as highlighted by a score of 94 in culture and community. LiftFund has successfully deployed an impressive $98.2 million in grants and loans, indicating effective use of resources to support individuals and create jobs.
However, while the financial metrics are strong, the leadership and adaptability score of 10% suggests there may be some areas for improvement in long-term strategic planning and organizational growth. Overall, LiftFund's significant achievements and community impact underscore its effectiveness as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Liftfund Inc legitimate?
Liftfund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Liftfund 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: $1,587,288
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,666,446
For more financial information, click here
Official website here: www.liftfund.com
What is the mission statement of Liftfund Inc?
Liftfund Inc is dedicated to supporting underserved small businesses and entrepreneurs. Through the provision of capital and various services, Liftfund helps these businesses and entrepreneurs strengthen their operations, stabilize and enhance their incomes, create new employment opportunities, and contribute to the economic growth of their communities. The organization's mission is twofold: to provide essential resources to small businesses, and to foster economic development through the success of these enterprises. By offering flexible financing options and business expertise, Liftfund empowers small business owners to build sustainable businesses and improve their livelihoods.
Official website here: www.liftfund.com
Who is the CEO of Liftfund Inc?
Richard Ruebe is the Inter.President of Liftfund Inc.
Official website here: www.liftfund.com
What is the revenue of Liftfund Inc?
Liftfund Inc's revenue in 2022 was $51,818,585.
Official website here: www.liftfund.com
Who are the executives of Liftfund Inc and what are their salaries?
The average compensation at Liftfund Inc during 2022 was $67,546. There are 137 employees and 19 volunteers at Liftfund Inc.
Here are 27 key members and their salaries:
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Official website here: www.liftfund.com
Where can I find the form 990 for Liftfund Inc?
Liftfund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.liftfund.com
Learn more at the official website: www.liftfund.com
Mission Statement of Liftfund Inc
Liftfund Inc, a mission-driven organization, strives to empower underserved small businesses and entrepreneurs by offering them essential capital and services. By providing these resources, Liftfund plays a pivotal role in helping small enterprises and entrepreneurs fortify their businesses, maintain and boost their income levels, and create new employment opportunities. Consequently, Liftfund significantly contributes to the economic growth of the communities they serve.
Liftfund's commitment extends beyond just providing capital. Their offerings enable small businesses and entrepreneurs to build robust and sustainable enterprises. Through the provision of crucial financial support, Liftfund fosters stability and growth, allowing these businesses to thrive and expand their reach. The organization's services extend beyond monetary aid, providing the necessary tools and resources to help businesses not only survive but flourish in their respective markets.
In summary, Liftfund Inc acts as a catalyst for economic development by supporting underserved small businesses and entrepreneurs. They offer capital and services tailored to the unique needs of their clients, enabling them to strengthen their businesses, stabilize and increase income levels, create employment opportunities, and contribute positively to their communities.
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Impact
October, 2024
Liftfund Inc significantly impacts underserved small businesses and entrepreneurs by providing essential capital and services that foster their growth and stability. By offering support through various financial products and services, Liftfund enables these businesses to strengthen their operations, stabilize and increase their incomes, and ultimately create additional employment opportunities. This in turn contributes positively to the economic development of the communities they serve.
In response to challenges posed by the COVID-19 pandemic, Liftfund collaborated with local governments to distribute federal American Rescue Plan Act (ARPA) grants. In 2022 alone, the organization awarded 1,681 grants, amounting to over $28 million, directly benefitting small businesses. This initiative not only helped sustain businesses during a critical time but also reinforced community resilience and economic vitality. Through its efforts, Liftfund plays a vital role in enhancing community improvement and promoting long-term economic growth.
This information is meant to be a general summary of Liftfund 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: $264,911
- Program Service Revenue: $9,577,404
- Gross Receipts: $53,143,278
Assets and Liabilities:
- Total Assets: $84,840,423
- Total Liabilities: $47,483,781
- Net Assets: $37,356,642
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST AND FEES
Revenue
$7,488,571
PORTFOLIO MANAGEMENT SVC
Revenue
$98,194
SBA 504 REVENUE
Revenue
$1,990,639
Organization Details
Founding Year
1994
Phone
(210) 226-3664Principal Officer
Richard Ruebe
Main Address
2014 S HACKBERRY, SAN ANTONIO, TX, 78210
Website
www.liftfund.comNTEE Category
Code: S43 - Community improvement
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