Overview
What is Wepower?
Wepower is a community-focused nonprofit organization based in Saint Louis, Missouri, with a mission to promote equity and justice in education, economy, health, and justice systems. They run three key programs: the WEPOWER Business Accelerator, the WEPOWER Investment Fund, and the Kiva Hub 0-Interest loans. These initiatives aim to empower Black and Latinx entrepreneurs, stimulating local economic growth and creating living-wage jobs. In 2021, Wepower granted over 15 interest-free loans (up to $15,000) through the St. Louis Kiva Hub and launched a $1.5 million investment fund, offering capital and business coaching to Black and Latinx-owned businesses. Additionally, ten local businesses completed the accelerator program, benefiting from comprehensive business coaching, investment readiness training, and mentorship over six months. With a team of 16 dedicated individuals, Wepower is actively working to redefine community wealth building and create a more equitable society.
Official website here: www.wepowerstl.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 73% (Two-Star out of Four Star rating)
Wepower has received a 73% rating from Charity Navigator, indicating a moderate level of performance. The organization excels in Accountability & Finance, scoring 74%, with notable strengths in having a fully independent board and a robust conflict of interest policy. However, it faces challenges, particularly in fundraising efficiency and working capital management, which are areas that could benefit from improvement.
The organization's Culture & Community score is impressive at 98%, reflecting a strong internal environment and engagement. Additionally, Wepower achieves a perfect score in Leadership & Adaptability, indicating effective strategic planning and responsive leadership. These strengths suggest that while the organization may have financial limitations, it possesses a solid foundation for growth and impact.
Despite its overall positive metrics, Wepower's lower scores in areas such as liquidity and fundraising efficiency highlight potential vulnerabilities. Stakeholders may want to consider these aspects when evaluating the nonprofit's sustainability and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Wepower legitimate?
Wepower is a legitimate nonprofit organization registered as a 501(c)(3) entity. Wepower 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: $113,605
Professional Fundraising Fees: $0
Other Salaries and Wages: $671,800
For more financial information, click here
Official website here: www.wepowerstl.org
What is the mission statement of Wepower?
Wepower's mission is centered around empowering communities to reform various systems, including education, economics, health, and justice, to promote equity and justice for all. The organization aims to activate community power, encouraging the redesign of these systems to be fair and inclusive for everyone.
In pursuit of this mission, Wepower has implemented several initiatives. They run a Business Accelerator program, an Investment Fund, and a Kiva Hub providing interest-free loans, which primarily support Black and Latinx entrepreneurs, fostering economic development and the creation of living-wage jobs. In 2021, Wepower disbursed over 15 interest-free loans, launched a $1.5 million investment fund, and assisted 10 local Black and Latinx-owned businesses through their accelerator program.
Official website here: www.wepowerstl.org
Who is the CEO of Wepower?
Charli Cooksey is the Founder And Ceo of Wepower. The CEO's salary of Wepower is $113,604 and their total compensation is $113,604.
Official website here: www.wepowerstl.org
What is the revenue of Wepower?
Wepower's revenue in 2022 was $2,131,840.
Official website here: www.wepowerstl.org
Who are the executives of Wepower and what are their salaries?
The average compensation at Wepower during 2022 was $49,088. There are 16 employees at Wepower.
Here are 9 key members and their salaries (Wepower's CEO's salary is $113,604 and their total compensation is $113,604):
- Compensation: $113,604
- Related: $0
- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.wepowerstl.org
Where can I find the form 990 for Wepower?
Wepower's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wepowerstl.org
Learn more at the official website: www.wepowerstl.org
Mission Statement of Wepower
Wepower is an organization dedicated to empowering communities to redesign various systems, including education, economy, health, and justice, to ensure they are fair and equitable for all. The core mission of Wepower is to activate community power, aiming to transform these systems to promote justice and equality for all individuals.
To achieve this mission, Wepower implements a trio of programs. The first is the WEPOWER Business Accelerator, which provides business coaching, investment readiness training, marketing and branding consultation, bookkeeping support, and mentorship to Black and Latinx entrepreneurs. The goal is to foster economic development and create living-wage jobs. In 2021, 10 local Black and Latinx-owned businesses completed this program, receiving over 100 hours of assistance.
Additionally, Wepower launched a $1.5 million investment fund in 2021. This initiative provides capital and business coaching to Black and Latinx-owned businesses with flexible, founder-friendly payment terms. Furthermore, Wepower operates the St. Louis Kiva Hub, which offers interest-free loans up to $15,000 to support these entrepreneurs in their ventures.
In summary, Wepower's mission is to activate community power to transform education, economic, health, and justice systems to ensure they are just and equitable for all. They achieve this through business accelerator programs, investment funds, and interest-free loans to empower Black and Latinx entrepreneurs in St. Louis, ultimately fostering economic development and creating living-wage jobs.
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Impact
July, 2024
WePower's impact lies in its mission to activate community power and re-design essential systems to be just and equitable for all. Through its programs like the WEPOWER Business Accelerator, WEPOWER Investment Fund, and Kiva Hub 0-Interest loans, WePower is actively developing Black and Latinx entrepreneurs in St. Louis. This initiative aims to spark economic development and create living-wage jobs in the community. In 2021 alone, WePower disbursed over 15 interest-free loans and launched a $1.5 million investment fund to provide access to capital and business coaching for Black and Latinx-owned businesses. Additionally, 10 local businesses completed WePower's accelerator program, receiving comprehensive support including business coaching, investment readiness training, marketing consultation, and mentorship. Through these efforts, WePower is empowering marginalized communities and contributing to the economic growth and sustainability of St. Louis.
This information is meant to be a general summary of Wepower. 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: $6
- Gross Receipts: $2,131,840
Assets and Liabilities:
- Total Assets: $232,805
- Total Liabilities: $132,057
- Net Assets: $100,748
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Organization Details
Founding Year
2018
Principal Officer
Charli Cooksey
Main Address
20 S Sarah Street STE 200, Saint Louis, MO, 63108
Website
www.wepowerstl.orgNTEE Category
Code: S31 - Community improvement
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