Overview
What is Axiom Advancement Corporation?
Axiom Advancement Corporation is a community-focused nonprofit organization situated in Pittsburgh, Pennsylvania. With a strong commitment to fair lending laws and accountability towards the communities they serve, Axiom's primary mission is to level the playing field in small business lending. By implementing industry best practices, they stand out as more than just a funding source. Axiom specifically targets minority, women-owned, and disadvantaged business enterprises, offering them access to capital and business development support. Their mission is encapsulated in providing small, low-interest loans to help start-up businesses thrive. With a team of five dedicated individuals, Axiom Advancement Corporation strives to foster economic improvement within these communities.
Official website here: www.axiompgh.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Stars)
Axiom Advancement Corporation has received a Three-Star rating from Charity Navigator, reflecting a score of 77%. This rating is based solely on the organization’s Accountability & Finance score, which indicates that Axiom demonstrates a strong commitment to financial stewardship. The organization excels in various financial metrics, including a high program expense ratio of 86.44%, indicating that a significant portion of its resources is directed toward its programs.
The data shows that Axiom has a fully independent board, with 100% of its board members being independent, which is a good practice for governance. Other positive indicators include no material diversion of assets and compliance with key policies related to governance and transparency. However, it is noted that the organization is missing a whistleblower policy, which could be seen as a limitation in its accountability framework.
Overall, while Axiom Advancement Corporation demonstrates strong financial health and governance practices, the absence of a whistleblower policy may be a concern for potential donors. Nevertheless, the organization is effectively using its resources to further its mission, as indicated by its high program expense ratio.
This AI summary has been generated from information found on Charity Navigator.
Is Axiom Advancement Corporation legitimate?
Axiom Advancement Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Axiom Advancement Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $32,614
For more financial information, click here
Official website here: www.axiompgh.com
What is the mission statement of Axiom Advancement Corporation?
Axiom Advancement Corporation is dedicated to serving minority, women-owned, and disadvantaged business enterprises by providing them with access to capital and business development support. Their primary mission is to offer small, low-interest loans to help start-up businesses. The organization is committed to adhering to fair lending laws, maintaining accountability towards the communities it serves, and implementing industry best practices. Beyond being a funding source, Axiom Advancement Corporation also operates as a people-focused community services organization, aiming to foster economic improvement.
Official website here: www.axiompgh.com
Who is the CEO of Axiom Advancement Corporation?
Michelle Chenn is the President of Axiom Advancement Corporation.
Official website here: www.axiompgh.com
What is the revenue of Axiom Advancement Corporation?
Axiom Advancement Corporation's revenue in 2022 was $578,609.
Official website here: www.axiompgh.com
Who are the executives of Axiom Advancement Corporation and what are their salaries?
The average compensation at Axiom Advancement Corporation during 2022 was $6,523. There are 5 employees at Axiom Advancement Corporation.
Here are 3 key members and their salaries:
- Compensation: $116,333
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.axiompgh.com
Where can I find the form 990 for Axiom Advancement Corporation?
Axiom Advancement Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.axiompgh.com
Learn more at the official website: www.axiompgh.com
Mission Statement of Axiom Advancement Corporation
Axiom Advancement Corporation, a microloan fund, is committed to serving minority, women-owned, and disadvantaged business enterprises by providing them with access to capital and business development support. At its core, Axiom's mission is to extend small, low-interest loans to help budding entrepreneurs launch their ventures. The organization strives to level the playing field in small business lending, adhering to fair lending laws and holding itself accountable to the communities it serves. Furthermore, Axiom Advancement Corporation goes beyond being a funding source, positioning itself as a people-focused community services organization, dedicated to fostering economic improvement.
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Impact
July, 2024
Axiom Advancement Corporation's impact is significant in leveling the playing field in small business lending through their commitment to fair lending laws, accountability to the communities they serve, and implementation of industry best practices. They focus on serving minority, women-owned, and disadvantaged business enterprises by providing access to capital and business development support. Axiom is more than a funding source; they are a people-focused community services organization promising economic improvement. Their mission to provide small low-interest loans to start-up businesses contributes to community improvement, particularly in Pittsburgh, PA.
This information is meant to be a general summary of Axiom Advancement Corporation. 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.
- Program Service Revenue: $4,609
- Gross Receipts: $578,609
Assets and Liabilities:
- Total Assets: $347,880
- Total Liabilities: $49,289
- Net Assets: $298,591
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE INCOME
Revenue
$2,750
INTEREST INCOME
Revenue
$1,859
Organization Details
Founding Year
2019
Phone
(412) 482-3342Principal Officer
Michelle Chenn
Main Address
4165 BLAIR STREET, PITTSBURGH, PA, 15207
Website
www.axiompgh.comNTEE Category
Code: S31 - Community improvement
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