Overview
What is Louisville Association For Community Eco?
The Louisville Association for Community Eco (LACE) is a nonprofit organization situated in Louisville, Kentucky. Their primary mission is to foster an environment of cooperative businesses among lower-income residents in the Louisville, Kentucky/Indiana SMSA area. They aim to create a pathway to wealth and power for communities that have historically faced systemic exclusion by promoting community-owned and governed businesses. LACE educates the community about the benefits of cooperative economics and supports the development of cooperative businesses. They assist with feasibility and business planning, connect with communities and stakeholders, create financial and governance models, and help secure capitalization strategies. LACE's first major initiative is bringing the Louisville Community Grocery (LCG) vision to life. Partnering with Humana Foundation and Common Table (Catholic Charities), LACE has launched a culinary training program for 10 trainees to complete a 47-week course in food management. These trainees will later contribute to the production of food for the deli and support events throughout the year. LACE also hosts 10 tasting events annually to gather community input on the deli menu. In summary, LACE is a dedicated nonprofit working to promote cooperative businesses and community wealth by fostering a supportive environment and providing resources, education, and training in Louisville, Kentucky.
Official website here: www.lace.coop/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The Louisville Association For Community Eco has earned a solid Three-Star rating, reflecting an overall score of 83%. This rating is based entirely on its Accountability and Finance score, indicating a strong commitment to transparency and responsible financial management. The organization has demonstrated excellence in several areas, including having a fully independent board and maintaining a high program expense ratio of 87.80%, which suggests that a significant portion of its resources is directed toward its programs rather than administrative costs.
Strengths of the organization include its compliance with best practices in governance, such as a majority of independent board members and no material diversion of assets. It successfully lists its financial documents and has established a conflict of interest policy, showcasing its dedication to accountability. However, the absence of a whistleblower policy and a document retention and destruction policy could be seen as areas for improvement in terms of organizational governance.
Overall, while the Louisville Association For Community Eco shows strong financial health and transparency, enhancing its governance practices could further strengthen its operational framework. The organization appears to prioritize community engagement and impactful programming, making it a noteworthy player in its sector.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Louisville Association For Community Eco?
100% of reviewers on Facebook recommend the Louisville Association For Community Eco. Here is a summary of their reviews:
The nonprofit has received praise for its dedicated and passionate community involvement. Reviewers highlight the team’s commitment to improving the Louisville area, showcasing their efforts in bringing people together for positive change.
Overall, the sentiment is overwhelmingly positive, with individuals appreciating the hard work and community-minded approach of the organization. Participants express satisfaction with the impact the nonprofit is making in their local environment, suggesting it really delivers on its mission.
This AI summary has been generated from reviews found on Facebook.
Is Louisville Association For Community Eco legitimate?
Louisville Association For Community Eco is a legitimate nonprofit organization registered as a 501(c)(3) entity. Louisville Association For Community Eco 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: $112,754
Professional Fundraising Fees: $0
Other Salaries and Wages: $15,046
For more financial information, click here
Official website here: www.lace.coop/
What is the mission statement of Louisville Association For Community Eco?
The Louisville Association for Community Economics (LACE) is a non-profit organization dedicated to promoting the growth of cooperative businesses among lower-income communities. Their mission is to establish an ecosystem of cooperative social enterprises that is grounded in racial and economic equity. LACE believes that community-owned and governed businesses can help bring wealth and power to excluded neighborhoods and individuals. They educate the community about the benefits of cooperative economics and support the development of cooperative businesses by providing assistance with feasibility and business planning, connecting with communities and stakeholders, creating financial and governance models, and strategizing for capitalization. LACE's first significant initiative is bringing the vision of the Louisville Community Grocery (LCG) to life.
Official website here: www.lace.coop/
Who is the CEO of Louisville Association For Community Eco?
Tiffany Brown is the Board Member of Louisville Association For Community Eco.
Official website here: www.lace.coop/
What is the revenue of Louisville Association For Community Eco?
Louisville Association For Community Eco's revenue in 2022 was $1,168,244.
Official website here: www.lace.coop/
Who are the executives of Louisville Association For Community Eco and what are their salaries?
The average compensation at Louisville Association For Community Eco during 2022 was $42,600. There are 3 employees and 50 volunteers at Louisville Association For Community Eco.
Here are 8 key members and their salaries:
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Official website here: www.lace.coop/
Where can I find the form 990 for Louisville Association For Community Eco?
Louisville Association For Community Eco's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lace.coop/
Learn more at the official website: www.lace.coop/
Mission Statement of Louisville Association For Community Eco
The Louisville Association for Community Economics (LACE) is a dedicated non-profit organization with a mission to promote the growth of cooperative businesses among lower-income residents in the Louisville, Kentucky/Indiana Statistical Metropolitan Area (SMSA). LACE is committed to fostering an ecosystem of cooperative social enterprises that prioritize racial and economic equity. The organization believes that community-owned and governed businesses can serve as a means to distribute wealth and power to neighborhoods and individuals who have historically faced systemic exclusion.
In pursuit of its mission, LACE educates the community about the potential of cooperative economics to create community wealth. The organization also supports the development of cooperative businesses by providing assistance with feasibility and business planning, connecting with communities and stakeholders, creating financial and governance models, and helping with capitalization strategies. LACE's first significant initiative is the realization of the Louisville Community Grocery (LCG) vision. LACE's work aims to empower local residents and contribute to the overall economic and social well-being of the community.
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Impact
July, 2024
Louisville Association For Community Eco is making a significant impact in Louisville, Kentucky by fostering the development of cooperative businesses among lower-income residents. Partnering with organizations like the Humana Foundation and Common Table, they have initiated a culinary training program to empower individuals with the skills to create delicious deli foods. Through community input and collaboration, they are creating a menu that reflects the diverse tastes and preferences of the community. By educating and supporting the creation of cooperative enterprises, Louisville Association For Community Eco is working towards building wealth and power in neighborhoods that have historically faced exclusion, ultimately contributing to community improvement.
This information is meant to be a general summary of Louisville Association For Community Eco. 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: $1,399
- Gross Receipts: $1,168,244
Assets and Liabilities:
- Total Assets: $1,489,946
- Total Liabilities: -$281
- Net Assets: $1,490,227
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Organization Details
Founding Year
2017
Phone
(502) 286-3477Principal Officer
Tiffany Brown
Main Address
PO Box 1501, Louisville, KY, 40201
Website
www.lace.coop/NTEE Category
Code: S01 - Community improvement
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