Overview
What is Otero Partners Incorporated?
Otero Partners Incorporated is a nonprofit organization situated in La Junta, Colorado, at 13 W 3rd St STE 212. Their primary mission is to establish and manage a revolving loan fund, aiming to provide affordable financial resources to eligible small businesses situated in Otero and Las Animas Counties. This initiative is intended to stimulate economic diversification, creating and retaining jobs, particularly benefitting lower-income individuals in these regions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 73%)
Otero Partners Incorporated has received a Two-Star rating from Charity Navigator, indicating that while the organization shows strengths in certain areas, significant improvements are needed. The overall score is heavily influenced by the Accountability & Finance beacon, where the organization scored 100% for having a majority of independent board members and no material diversion of assets. However, the organization falls short in several key governance policies, which impacts its overall rating.
The nonprofit excels with a high program expense ratio of 94.02%, demonstrating a commitment to directing funds towards its mission-related activities. Additionally, the board's independence and size are commendable, indicating a stable governance structure. However, the lack of essential policies such as a conflict of interest policy, whistleblower policy, and proper documentation practices raises concerns about transparency and accountability.
Overall, while Otero Partners Incorporated shows promise in its financial stewardship and governance structure, the absence of critical policies and transparency measures suggests that stakeholders should encourage the organization to address these gaps to enhance its trustworthiness and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Otero Partners Incorporated legitimate?
Otero Partners Incorporated is a legitimate nonprofit organization registered as a 501(c)(3) entity. Otero Partners Incorporated 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.
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Executive Compensation: $0
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Other Salaries and Wages: $0
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What is the mission statement of Otero Partners Incorporated?
Otero Partners Incorporated's mission is centered around maintaining a revolving loan fund with the primary objective of promoting economic diversification and fostering job creation and retention. This initiative is intended to benefit individuals who fall into the category of very low to moderate income earners, expanding opportunities in two specific counties, Colorado's Otero County and Las Animas County. The organization provides low-cost financial resources through this revolving fund to eligible small businesses within these regions.
Who is the CEO of Otero Partners Incorporated?
Lucas Flanscha is the Chairman of Otero Partners Incorporated.
What is the revenue of Otero Partners Incorporated?
Otero Partners Incorporated's revenue in 2022 was $56,580.
Who are the executives of Otero Partners Incorporated and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Otero Partners Incorporated?
Otero Partners Incorporated's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Otero Partners Incorporated
Otero Partners Incorporated, as a mission-driven organization, is committed to maintaining a revolving loan fund. This fund serves a crucial purpose in encouraging economic diversification and fostering job creation and retention. The primary beneficiaries of this initiative are individuals from the low-income and moderate income brackets residing in Otero County and Las Animas County, Colorado. By providing these groups with access to low-cost financial resources, Otero Partners Incorporated aims to support the growth and sustainability of small businesses in these regions. The ultimate goal is to contribute positively to the local economy and improve the livelihoods of the community's most vulnerable members.
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Impact
August, 2024
Otero Partners Incorporated's impact is focused on encouraging economic diversification, job creation, and retention in Otero County Colorado and Las Animas County Colorado. By maintaining a revolving loan fund, the organization provides low-cost financial resources to eligible small businesses in these areas, benefiting very low, low, and moderate-income individuals. This initiative aims to support community improvement by fostering economic growth and sustainability in the region.
This information is meant to be a general summary of Otero Partners Incorporated. 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: $12,295
- Gross Receipts: $56,580
Assets and Liabilities:
- Total Assets: $1,059,563
- Total Liabilities: $344
- Net Assets: $1,059,219
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Organization Details
Founding Year
2001
Phone
(719) 383-3006Principal Officer
Lucas Flanscha
Main Address
13 W 3RD ST STE 212, LA JUNTA, CO, 810501536
NTEE Category
Code: S31 - Community improvement
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