Overview
What is Economic Empowerment Center?
The Economic Empowerment Center, operating under the name Lending Link Credit Solutions, serves as a nonprofit organization based in Omaha, Nebraska. Its primary goal is to provide a route to financial stability and enhance financial health for both individuals and local businesses. This is achieved by offering them affordable loans with extended repayment periods, a service typically unavailable from traditional lenders due to various challenges. To support this effort, the center offers financial coaching, aiding people in breaking free from predatory lending practices, such as payday loans. With a team of eight dedicated employees, the Economic Empowerment Center strives to help its community members achieve long-term financial health.
Official website here: www.lendinglinkomaha.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
The Economic Empowerment Center has achieved an overall score of 87%, reflecting a solid performance in terms of accountability and finance, which garnered a score of 90%. The organization boasts 100% independent board members and an excellent ratio of liabilities to assets, indicating fiscal responsibility and strong governance practices. High program expense ratios further illustrate that a significant portion of their funding is directed towards fulfilling their mission.
However, the organization does present some areas for improvement, particularly in its culture and community score, which stands at 75%. The absence of a whistleblower policy and document retention and destruction policy were noted as gaps in their governance framework. Despite these limitations, the presence of documented board meeting minutes and a well-defined conflict of interest policy reflects commitment to transparency.
Overall, the Economic Empowerment Center demonstrates a commendable level of accountability and effective use of resources, with certain governance policies needing attention to bolster its organizational integrity further.
This AI summary has been generated from information found on Charity Navigator.
Is Economic Empowerment Center legitimate?
Economic Empowerment Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Economic Empowerment Center 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: $197,776
Professional Fundraising Fees: $0
Other Salaries and Wages: $300,806
For more financial information, click here
Official website here: www.lendinglinkomaha.org
What is the mission statement of Economic Empowerment Center?
The Economic Empowerment Center's mission is centered around providing a pathway to financial stability and improved financial health. They achieve this by offering affordable loans with favorable terms to individuals and small businesses who often struggle to secure loans from traditional lenders. Additionally, financial coaching services are provided to help people move away from predatory lending practices, ultimately aiming to assist them in achieving long-term financial health.
Official website here: www.lendinglinkomaha.org
What is the revenue of Economic Empowerment Center?
Economic Empowerment Center's revenue in 2023 was $2,347,697.
Official website here: www.lendinglinkomaha.org
Who are the executives of Economic Empowerment Center and what are their salaries?
The average compensation at Economic Empowerment Center during 2023 was $49,858. There are 10 employees at Economic Empowerment Center.
Here are 10 key members and their salaries:
- Compensation: $146,227
- Related: $0
- Other: $2,302
- Compensation: $51,548
- Related: $0
- Other: $647
- 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: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lendinglinkomaha.org
Where can I find the form 990 for Economic Empowerment Center?
Economic Empowerment Center's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lendinglinkomaha.org
Learn more at the official website: www.lendinglinkomaha.org
Mission Statement of Economic Empowerment Center
The Economic Empowerment Center, a nonprofit organization, is committed to providing a pathway to financial stability and improved financial health for individuals and small businesses in need. It accomplishes this mission by offering affordable loans with favorable terms to those who struggle to secure loans from traditional lenders. The center also provides financial coaching to aid people in transitioning away from predatory lending services, ultimately working towards helping them achieve long-term financial health.
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Impact
July, 2024
The Economic Empowerment Center in Omaha provides a critical pathway to financial stability and improved financial health for residents and small businesses. By offering low-cost loans with longer repayment terms, the center helps individuals who face challenges in accessing traditional loans. Through financial coaching, the center supports people in transitioning away from predatory lenders, aiming to achieve long-term financial health. This impactful work directly contributes to the economic empowerment and well-being of the community in Omaha.
This information is meant to be a general summary of Economic Empowerment Center. 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 2023.
- Investment Income: $37,575
- Program Service Revenue: $150,542
- Gross Receipts: $2,347,697
Assets and Liabilities:
- Total Assets: $4,035,071
- Total Liabilities: $0
- Net Assets: $4,035,071
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest on Loans made to program participants
Revenue
$150,542
Organization Details
Founding Year
2018
Principal Officer
Daniel Padilla
Website
www.lendinglinkomaha.orgNTEE Category
Code: P51 - Human services
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