Overview
What is Houston Business Development Inc?
Houston Business Development Inc is a nonprofit organization situated in Houston, Texas, with a focus on fostering economic growth and revitalizing underserved communities. Established at 5330 Griggs Road, the organization provides small and minority businesses with flexible and affordable loans, management and technical assistance, and office space at reasonable rates. Beyond this, they offer credit management training, small business incubation, and the development of affordable housing and multi-family rental apartments in underserved areas. Moreover, Houston Business Development Inc engages in the adaptive reuse of commercial properties to contribute to the overall improvement of these neighborhoods. The organization's mission is to stimulate economic growth, combat community deterioration, and build safe, vibrant, and healthy neighborhoods, with a dedicated workforce of 10 individuals.
Official website here: www.hbdi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Stars)
Houston Business Development Inc has earned a solid Three-Star rating from Charity Navigator, reflecting a strong emphasis on accountability and financial practices. The organization has achieved a high score of 87 in Accountability & Finance, indicating robust governance and transparency in its operations. Notably, it has a fully independent board and adheres to thorough policies regarding conflict of interest and whistleblower protections, enhancing trust in its management.
One of the standout features of this nonprofit is its impressive program expense ratio of 91.45%, which suggests that the majority of its funding is directed towards its programs rather than administrative costs. Additionally, the organization's fundraising efficiency is remarkable, with a ratio of $0.00, showing effective use of resources. The low liabilities to assets ratio at 15.34% indicates a healthy financial position, allowing the organization to sustain its operations over the long term.
While the ratings and feedback are overwhelmingly positive, potential donors or partners may still wish to explore specific program outcomes or community impact stories to gain a deeper understanding of the organization's effectiveness. Overall, Houston Business Development Inc exemplifies good financial health and operational integrity within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Houston Business Development Inc legitimate?
Houston Business Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Houston Business Development 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: $127,782
Professional Fundraising Fees: $0
Other Salaries and Wages: $351,937
For more financial information, click here
Official website here: www.hbdi.org
What is the mission statement of Houston Business Development Inc?
Houston Business Development Inc's mission is centered around stimulating economic growth and revitalizing under-served communities. The corporation aims to combat community deterioration and facilitate the construction of safe, vibrant, and healthy neighborhoods. In addition to providing small and minority businesses with flexible loans, management assistance, and affordable office space, Houston Business Development Inc has expanded its approach to community development. This now includes credit management training, small business incubation, the development of affordable housing, and the adaptive reuse of commercial properties in under-served areas.
Official website here: www.hbdi.org
Who is the CEO of Houston Business Development Inc?
Marlon Mitchell is the President & Ceo of Houston Business Development Inc. The CEO's salary of Houston Business Development Inc is $99,689 and their total compensation is $123,201.
Official website here: www.hbdi.org
What is the revenue of Houston Business Development Inc?
Houston Business Development Inc's revenue in 2020 was $3,620,643.
Official website here: www.hbdi.org
Who are the executives of Houston Business Development Inc and what are their salaries?
The average compensation at Houston Business Development Inc during 2020 was $47,972. There are 10 employees at Houston Business Development Inc.
Here are 14 key members and their salaries (Houston Business Development Inc's CEO's salary is $99,689 and their total compensation is $123,201):
- Compensation: $99,689
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- Other: $23,512
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Official website here: www.hbdi.org
Where can I find the form 990 for Houston Business Development Inc?
Houston Business Development Inc's most recent form 990 was submitted in 2020 and can be accessed here.
Official website here: www.hbdi.org
Learn more at the official website: www.hbdi.org
Mission Statement of Houston Business Development Inc
Houston Business Development Inc, a nonprofit organization, is committed to stimulating economic growth and combating community deterioration. Its mission extends to revitalizing under-served communities and facilitating the development of safe, vibrant, and healthy neighborhoods. To achieve this, the nonprofit offers various services. It provides flexible and affordable business loans to small and minority businesses, along with management and technical assistance. Additionally, Houston Business Development Inc offers office space at reasonable rents at its Business Technology Center (BTC or Palm Center).
Beyond financial support, the organization takes a comprehensive approach to community development. It offers credit management training to help businesses manage their finances effectively. Houston Business Development Inc also supports small business incubation, providing a nurturing environment for new businesses to grow and thrive. Furthermore, the nonprofit is involved in the development of affordable single-family homes and multi-family rental apartments in underserved neighborhoods. Additionally, it focuses on the adaptive reuse of commercial properties in these areas, transforming them into valuable assets for the community.
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Impact
July, 2024
Houston Business Development Inc's impact is significant in stimulating economic growth, combating community deterioration, revitalizing under-served communities, and facilitating the building of safe, vibrant, and healthy neighborhoods in Houston, Texas. With a focus on providing small and minority businesses with flexible and affordable business loans, management and technical assistance services, as well as office space at reasonable rents at its Business Technology Center, HBDi takes a comprehensive approach to community development. This includes offering credit management training, small business incubation, developing affordable housing, and adaptive reuse of commercial properties in underserved neighborhoods. Overall, HBDi plays a crucial role in driving positive change and fostering community improvement in Houston.
This information is meant to be a general summary of Houston Business Development 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 2020.
- Program Service Revenue: $974,866
- Gross Receipts: $3,620,643
Assets and Liabilities:
- Total Assets: $15,684,831
- Total Liabilities: $3,129,116
- Net Assets: $12,555,715
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental & Service Income
Revenue
$973,721
Interest Income & Fees
Revenue
$1,145
Organization Details
Founding Year
1986
Principal Officer
Marlon Mitchell
Main Address
5330 Griggs Road, Houston, TX, 77021
Website
www.hbdi.orgNTEE Category
Code: S43 - Community improvement
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