Overview
What is Flagship Enterprise Capital Inc?
Flagship Enterprise Capital Inc is a mission-driven financial institution situated in Anderson, Indiana. Its primary objective is to offer financial services tailored to economically disadvantaged businesses and individuals in underserved communities. In the fiscal year ending May 31, 2022, the organization closed 35 loans, demonstrating its commitment to supporting various groups. Among these loans, 29 were disbursed to minorities, 19 to women-owned businesses, 2 to veterans, 21 to startup enterprises, and 14 to low-income businesses. In addition, Flagship Enterprise Capital provided 1,414 hours of technical assistance to its clients, further underscoring its dedication to helping underserved communities thrive.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94%, Four-Star out of Four Star rating.
Flagship Enterprise Capital Inc has achieved a commendable Four-Star rating from Charity Navigator, indicating strong performance in accountability and finance. The organization scored 94% overall, with its rating driven entirely by its excellent performance in Accountability & Finance. This reflects a commitment to transparency and responsible financial management, essential for building trust with donors and stakeholders.
The organization demonstrates notable strengths, including a fully independent board composed of 10 members, and it has no material diversions of assets. Additionally, Flagship Enterprise Capital has robust policies in place, including conflict of interest, whistleblower, and document retention policies, all of which contribute to its high ratings in governance practices. The organization’s program expense ratio is particularly impressive at 96.71%, indicating that the majority of its funds are directed towards its mission-related activities.
While the rating showcases significant strengths, it is important to note that the data focuses exclusively on accountability and finance, with no other beacons assessed. Therefore, potential donors may wish to consider additional factors such as program effectiveness and impact before making support decisions. Overall, Flagship Enterprise Capital Inc stands out for its financial stewardship and governance.
This AI summary has been generated from information found on Charity Navigator.
Is Flagship Enterprise Capital Inc legitimate?
Flagship Enterprise Capital Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Flagship Enterprise Capital 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $141,429
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What is the mission statement of Flagship Enterprise Capital Inc?
Flagship Enterprise Capital Inc is committed to serving as a mission-driven financial institution. Its primary goal is to offer financial services that cater to the needs of economically disadvantaged businesses and individuals residing in underserved communities. The organization strives to make a significant impact by providing essential financial resources to these groups, thereby fostering economic growth and development in these communities. During the fiscal year ending May 31, 2022, Flagship Enterprise Capital successfully closed 35 loans, with a focus on supporting minorities, women-owned businesses, veterans, startups, low-income businesses, and providing 1,414 hours of technical assistance to its clients.
Who is the CEO of Flagship Enterprise Capital Inc?
Terry Truitt is the Chairman of Flagship Enterprise Capital Inc.
What is the revenue of Flagship Enterprise Capital Inc?
Flagship Enterprise Capital Inc's revenue in 2022 was $739,498.
Who are the executives of Flagship Enterprise Capital Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Flagship Enterprise Capital Inc?
Flagship Enterprise Capital Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Flagship Enterprise Capital Inc
Flagship Enterprise Capital Inc is a mission-driven financial institution that focuses on providing financial services to economically disadvantaged businesses and individuals in underserved communities. Their mission is to act as a catalyst, helping to bridge the gap in financial access for those who may not have it otherwise. In the fiscal year ending May 31, 2022, Flagship Enterprise Capital demonstrated their commitment to this mission by closing 35 loans. These loans were disbursed to a diverse range of recipients, including 29 minority-owned businesses, 19 women-owned enterprises, 2 veterans, 21 startup enterprises, and 14 low-income businesses.
Beyond just loan disbursement, Flagship Enterprise Capital also provides valuable technical assistance to its clients. In the same year, they offered 1,414 hours of this assistance, further supporting the growth and success of the businesses they serve. By providing both financial and educational resources, Flagship Enterprise Capital is making a tangible impact in the lives of economically disadvantaged individuals and businesses, helping them to thrive and grow in their respective communities.
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Impact
July, 2024
Flagship Enterprise Capital Inc's impact is profound, as it serves as a crucial financial institution dedicated to providing essential services to economically disadvantaged businesses and individuals in underserved communities. In the latest fiscal year, Flagship Enterprise Capital closed 35 loans, with a significant focus on supporting minorities, women-owned businesses, veterans, startups, and low-income enterprises. Additionally, the organization went above and beyond by offering 1,414 hours of technical assistance to its clients, further enhancing their support beyond just financial aid. Through these efforts, Flagship Enterprise Capital is actively contributing to community improvement and empowerment, making a tangible difference in the lives of those who need it most.
This information is meant to be a general summary of Flagship Enterprise Capital 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: $69,268
- Program Service Revenue: $14,379
- Gross Receipts: $739,498
Assets and Liabilities:
- Total Assets: $1,621,789
- Total Liabilities: $556,834
- Net Assets: $1,064,955
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MICROLOAN INCOME
Revenue
$14,379
Organization Details
Founding Year
2016
Phone
(765) 622-0800Principal Officer
Terry Truitt
Main Address
2705 ENTERPRISE DRIVE, ANDERSON, IN, 46013
NTEE Category
Code: S43 - Community improvement
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