Overview
What is Black Farmer Fund Inc?
Black Farmer Fund Inc is a nonprofit organization situated in New York City, specifically at 228 Park Avenue South, with a focus on community development and well-being. Their primary mission is to empower and invest in Black agricultural businesses in the Northeast region. By fostering a thriving and resilient food system, they aim to support Black food systems entrepreneurs and communities, thereby contributing to the overall betterment and equity of the region's food systems. With a team of 11 dedicated individuals, Black Farmer Fund Inc is committed to making a significant impact in the Northeastern United States.
Official website here: www.blackfarmerfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 90% - Four-Star out of Four Stars .ating.
Black Farmer Fund Inc has achieved a strong Four-Star rating from Charity Navigator, reflecting its solid performance in accountability and finance, with a score of 90%. This high rating signifies the organization's commitment to transparency and responsible financial management. Key metrics show a majority of independent board members and a well-structured audit and oversight committee, indicating robust governance practices.
The organization excels in several areas such as having no material diversion of assets and maintaining an effective conflict of interest policy. Additionally, it demonstrates a strong working capital ratio, ensuring long-term financial stability. The board's diligence in reviewing financial documents prior to filing further highlights its commitment to accountability.
However, there are some areas for improvement. The program expense ratio is moderately lower at 65.65%, and the fundraising efficiency ratio is relatively low, suggesting that while the organization is financially sound, it may need to enhance its fundraising strategies to maximize program impact. Overall, Black Farmer Fund Inc shows a promising commitment to its mission combined with solid financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Black Farmer Fund Inc legitimate?
Black Farmer Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Black Farmer Fund 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: $133,313
Professional Fundraising Fees: $0
Other Salaries and Wages: $677,373
For more financial information, click here
Official website here: www.blackfarmerfund.org
What is the mission statement of Black Farmer Fund Inc?
Black Farmer Fund Inc's mission is centered around creating a prosperous and resilient food system. They achieve this by investing in entrepreneurial endeavors and communities within the Northeast that are focused on Black food systems. This mission aims to foster community wealth and health by supporting Black agricultural businesses in the region. The organization's goal is to contribute to a more equitable food system, thereby fostering growth and sustainability in this sector.
Official website here: www.blackfarmerfund.org
Who is the CEO of Black Farmer Fund Inc?
Olivia Watkins is the Board Member of Black Farmer Fund Inc.
Official website here: www.blackfarmerfund.org
What is the revenue of Black Farmer Fund Inc?
Black Farmer Fund Inc's revenue in 2022 was $5,574,978.
Official website here: www.blackfarmerfund.org
Who are the executives of Black Farmer Fund Inc and what are their salaries?
The average compensation at Black Farmer Fund Inc during 2022 was $73,699. There are 11 employees and 50 volunteers at Black Farmer Fund Inc.
Here are 6 key members and their salaries:
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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: $140,705
- Related: $0
- Other: $0
Official website here: www.blackfarmerfund.org
Where can I find the form 990 for Black Farmer Fund Inc?
Black Farmer Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.blackfarmerfund.org
Learn more at the official website: www.blackfarmerfund.org
Mission Statement of Black Farmer Fund Inc
Black Farmer Fund Inc is committed to establishing a flourishing, resilient, and equitable food system by investing in entrepreneurial ventures and communities within the Northeast that are focused on Black food systems. Their mission is centered around building community wealth and health by supporting Black agricultural businesses in the region. By investing in these enterprises, Black Farmer Fund Inc aims to contribute to the development of a sustainable and inclusive food system, ensuring that Black communities have the resources and opportunities they need to thrive.
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Impact
July, 2024
Black Farmer Fund Inc's impact is seen in its contribution to building community wealth and health by investing in Black agricultural businesses in the Northeast. Through its mission, the organization aims to create a thriving, resilient, and equitable food system by supporting Black food systems entrepreneurs and communities. This investment in Black agricultural businesses not only empowers these entrepreneurs but also helps foster a more inclusive and sustainable food system in the region, ultimately benefiting the overall community.
This information is meant to be a general summary of Black Farmer Fund 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.
- Investment Income: $12,684
- Program Service Revenue: $2,378
- Gross Receipts: $5,574,978
Assets and Liabilities:
- Total Assets: $6,823,672
- Total Liabilities: $100,732
- Net Assets: $6,722,940
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE INCOME
Revenue
$2,378
Organization Details
Founding Year
2019
Phone
(347) 201-2974Principal Officer
Olivia Watkins
Main Address
228 PARK AVENUE S 38732, NEW YORK, NY, 100031502
Website
www.blackfarmerfund.orgNTEE Category
Code: S43 - Community improvement
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