Overview
What is Accelerate 500 Inc?
Accelerate 500 Inc, operating under the name 1863 Ventures, is a business development program committed to bridging the gap between entrepreneurship and equity. This organization, based in Washington D.C., provides various support programs to accelerate new majority entrepreneurs from high potential to high growth, aiming to generate $100 billion in new wealth and economic power. Their initiatives include the Beyond 5 campaign, which promotes successful entrepreneurs to change the negative narrative around founders of color, and the Survival Research Report, which collects data on business survival strategies. Additionally, they have a Pipeline Program designed to equip founders with the necessary processes and guidance for business growth, and HerImpact, a program to help female social entrepreneurs scale their enterprises for long-term sustainability.
Official website here: www.1863ventures.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating.
Accelerate 500 Inc has received a Two-Star rating from Charity Navigator, which reflects a moderate level of accountability and financial health. While the organization has a fully independent board with strong governance policies, there are notable challenges in its financial performance, particularly in fundraising efficiency and program expense ratios. The organization is scoring poorly in these areas, which can impact its sustainability and effectiveness in fulfilling its mission.
The strengths of Accelerate 500 Inc include a solid governance structure, evidenced by high scores in the majority of the accountability metrics. Their policies surrounding conflict of interest, whistleblower protections, and transparent documentation practices suggest a commitment to ethical management. Additionally, the organization maintains a favorable working capital ratio, indicating it has sufficient resources to cover its short-term liabilities.
However, the reliance on fundraising appears to be a weakness, as indicated by a low fundraising efficiency ratio, which could imply higher costs for generating donations relative to funds raised. Furthermore, the program expense ratio indicates that a relatively smaller portion of its budget is directed towards program services as compared to administrative expenses. This raises concerns about the overall impact of its programs and suggests a need for improvement in resource allocation.
This AI summary has been generated from information found on Charity Navigator.
Is Accelerate 500 Inc legitimate?
Accelerate 500 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Accelerate 500 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: $318,182
Professional Fundraising Fees: $0
Other Salaries and Wages: $623,347
For more financial information, click here
Official website here: www.1863ventures.net
What is the mission statement of Accelerate 500 Inc?
Accelerate 500 Inc is dedicated to bridging the gap between entrepreneurship and equity through its business development program. The organization's mission is to accelerate high-potential entrepreneurs from the new majority background into high-growth enterprises. Their vision extends beyond individual success, aiming to generate $100 billion in new wealth and economic power for this demographic. Accelerate 500 Inc offers various programs tailored to different stages of a business's lifecycle, including early-stage and growth-stage enterprises.
Official website here: www.1863ventures.net
Who is the CEO of Accelerate 500 Inc?
Melissa Bradley is the Managing Partner of Accelerate 500 Inc.
Official website here: www.1863ventures.net
What is the revenue of Accelerate 500 Inc?
Accelerate 500 Inc's revenue in 2022 was $3,813,997.
Official website here: www.1863ventures.net
Who are the executives of Accelerate 500 Inc and what are their salaries?
The average compensation at Accelerate 500 Inc during 2022 was $85,594. There are 11 employees and 10 volunteers at Accelerate 500 Inc.
Here are 7 key members and their salaries:
- Compensation: $318,182
- 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
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.1863ventures.net
Where can I find the form 990 for Accelerate 500 Inc?
Accelerate 500 Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.1863ventures.net
Learn more at the official website: www.1863ventures.net
Mission Statement of Accelerate 500 Inc
Accelerate 500 Inc, a business development program, is committed to bridging the gap between entrepreneurship and equity. Their mission is to accelerate new majority entrepreneurs from being high potential to high growth. This organization envisions creating $100 billion in new wealth and economic power for and by the new majority. Accelerate 500 Inc offers various programs designed to support entrepreneurs at different stages of their business lifecycle, including early-stage and growth-stage enterprises. Their ultimate goal is to empower entrepreneurs from underrepresented communities, helping them build successful businesses and contribute to a more equitable economy.
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Impact
July, 2024
Accelerate 500 Inc's impact lies in its innovative and targeted approach to supporting new majority entrepreneurs in achieving long-term business success and growth. Through initiatives like the Beyond 5 campaign, which promotes and supports new majority businesses to surpass the typical five-year failure rate, Accelerate 500 Inc is actively changing the narrative around founders of color and highlighting their success stories.
Furthermore, the Survivability Research Report aims to provide crucial insights into what it takes for businesses to thrive beyond the critical five-year mark, offering data-driven guidance for ecosystem builders, policymakers, and investors to support these businesses effectively. The Pipeline Program equips founders with the tools, strategies, and mindset necessary to tackle challenges and accelerate their businesses towards sustainability and scale.
Additionally, the HerImpact initiative specifically targets female social entrepreneurs, providing them with resources, networking opportunities, and investment through events like the Entrepreneurship Summit and pitch competitions. Accelerate 500 Inc's mission to generate $100 billion of new wealth and economic power for the new majority demonstrates a commitment to fostering economic empowerment within marginalized communities. Overall, the organization's impact is characterized by its comprehensive and impactful programs that support entrepreneurship, equity, and community improvement.
This information is meant to be a general summary of Accelerate 500 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.
- Gross Receipts: $3,813,997
Assets and Liabilities:
- Total Assets: $7,076,580
- Total Liabilities: $2,938,452
- Net Assets: $4,138,128
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Organization Details
Founding Year
2017
Phone
(917) 549-6092Principal Officer
Melissa Bradley
Main Address
1100 15TH STREET NW 4TH FLOOR, WASHINGTON, DC, 20005
Website
www.1863ventures.netNTEE Category
Code: S20 - Community improvement
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