Overview
What is Reinvent Stockton Foundation?
The Reinvent Stockton Foundation, situated in Stockton, California, is a nonprofit organization that aims to enhance the living standards of its residents, particularly the youth. Their work is centered around redeveloping blighted areas and attracting external investment into the community. The foundation's mission is rooted in collective impact strategies, aiming to produce tangible improvements in the quality of life in Stockton, California. One of their notable initiatives is the Stockton Empowerment Demonstration (SEED), which provides unconditional income grants to individuals. This financial assistance, known as a "hand up," aims to empower recipients and challenge the notion that poverty stems from a lack of character rather than a lack of funds. The foundation has a dedicated workforce of 21 individuals, contributing to its mission to uplift the city of Stockton.
Official website here: www.reinventstockton.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
The Reinvent Stockton Foundation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its strong accountability and financial performance. With a score of 97% in Accountability & Finance, the organization demonstrates a commitment to transparency and effective management of resources, showcasing independence among board members and a robust financial oversight framework.
Strengths of the foundation include a high program expense ratio of 90.90%, indicating that a significant portion of its funds is directed towards its programs rather than administrative costs. Additionally, the organization holds an excellent fundraising efficiency ratio, meaning it raises funds effectively with minimal expenses. The foundation is well-structured with independent oversight, evidenced by its policies regarding conflict of interest and whistleblower protections.
While the foundation has shown strong performance and accountability, no significant limitations are noted in the data provided. The high scores across various metrics indicate a well-run organization focused on community impacts and equitable strategies. Overall, the Reinvent Stockton Foundation appears to be a trustworthy nonprofit with a solid reputation for serving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Reinvent Stockton Foundation legitimate?
Reinvent Stockton Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Reinvent Stockton Foundation 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: $562,119
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,218,420
For more financial information, click here
Official website here: www.reinventstockton.org
What is the mission statement of Reinvent Stockton Foundation?
The Reinvent Stockton Foundation's mission is centered around improving the quality of life for its community, specifically focusing on Stockton, California. The organization aims to transform Stockton into a community brimming with opportunities and hope, particularly for its youth. This is achieved through the sponsorship and funding of programs specifically designed to revitalize blighted areas. Additionally, the foundation seeks to attract outside investment into the Stockton community, investing in collective impact strategies that lead to tangible improvements in the city's quality of life. The Stockton Empowerment Demonstration (SEED), born out of the belief that investments in people are the best, provides unconditional income grants to empower individuals financially, proving that poverty is often a result of a lack of cash, not character. Building upon SEED, the Mayors for a Guaranteed Income (MGI) is a network of city leaders advocating for a guaranteed income to uplift all communities, contributing to a resilient and just America. In 2022, the foundation distributed 23 guaranteed income grants.
Official website here: www.reinventstockton.org
Who is the CEO of Reinvent Stockton Foundation?
Nik Howard is the Chair of Reinvent Stockton Foundation.
Official website here: www.reinventstockton.org
What is the revenue of Reinvent Stockton Foundation?
Reinvent Stockton Foundation's revenue in 2022 was $2,940,636.
Official website here: www.reinventstockton.org
Who are the executives of Reinvent Stockton Foundation and what are their salaries?
The average compensation at Reinvent Stockton Foundation during 2022 was $84,788. There are 21 employees and 31 volunteers at Reinvent Stockton Foundation.
Here are 11 key members and their salaries:
- Compensation: $197,399
- Related: $0
- Other: $5,213
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $184,499
- Related: $0
- Other: $154
- Compensation: $169,702
- Related: $0
- Other: $5,152
- Compensation: $131,762
- Related: $0
- Other: $5,120
- Compensation: $138,635
- Related: $0
- Other: $694
Official website here: www.reinventstockton.org
Where can I find the form 990 for Reinvent Stockton Foundation?
Reinvent Stockton Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.reinventstockton.org
Learn more at the official website: www.reinventstockton.org
Mission Statement of Reinvent Stockton Foundation
Reinvent Stockton Foundation is dedicated to improving the quality of life for its residents, particularly the youth, in Stockton, California. The organization's mission is twofold. Firstly, it aims to attract outside investment into the Stockton community. This investment is intended to support collective impact strategies that can tangibly improve the city's quality of life. Secondly, Reinvent Stockton Foundation invests in programs specifically designed to promote the redevelopment of blighted areas and stimulate economic growth within Stockton. By pursuing these objectives, the foundation seeks to transform Stockton into a community of opportunity and hope for its citizens.
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Impact
July, 2024
Reinvent Stockton Foundation's impact can be seen in its efforts to improve the quality of life for the residents of Stockton, California. Through programs like the Stockton Empowerment Demonstration (SEED) which provides guaranteed income grants, the foundation is investing in people without any strings attached, demonstrating that poverty results from a lack of cash, not character. Additionally, through initiatives like Mayors for a Guaranteed Income (MGI), the foundation is advocating for a national network of city leaders to support guaranteed income programs that benefit communities across America.
In 2022 alone, the foundation distributed 23 guaranteed income grants, showcasing its commitment to empowering individuals financially. By attracting outside investment into Stockton and investing in collective impact strategies, Reinvent Stockton Foundation is working towards creating a community of opportunity and hope for its citizens, especially its youth.
This information is meant to be a general summary of Reinvent Stockton Foundation. 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: -$468,449
- Gross Receipts: $6,270,090
Assets and Liabilities:
- Total Assets: $35,007,499
- Total Liabilities: $167,653
- Net Assets: $34,839,846
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Organization Details
Founding Year
2017
Phone
(209) 259-4997Principal Officer
Nik Howard
Main Address
110 N SAN JOAQUIN STREET, STOCKTON, CA, 95202
Website
www.reinventstockton.orgNTEE Category
Code: S20 - Community improvement
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