Overview
What is Latino Business Foundation Silicon Valley?
The Latino Business Foundation Silicon Valley (LBFSV) is a nonprofit organization situated in San Jose, California. With a primary focus on assisting local family businesses, LBFSV offers vital support to its community, particularly to those falling within the low to median income bracket. Over 90% of its members are of Latino origin, while the remaining 20% belong to various immigrant groups. The organization is committed to bridging language barriers, providing bilingual technical assistance through a range of programs. These include a business academy course, a responsive hotline, a small business incubator, a partner referral network, and workshops tailored to address entrepreneurs' challenges. LBFSV stays responsive and flexible to meet the evolving needs of its members, offering both group and personalized support. Its mission is to empower existing and future leaders in the business community through sustained learning and support.
Official website here: www.lbfsv.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars, Needs Improvement (62%)
Latino Business Foundation Silicon Valley has received a two-star rating from Charity Navigator, indicating that the organization is in need of improvement. While the foundation excels in accountability and finance, achieving a perfect score of 100% in this area, it falls short in financial transparency, specifically due to the absence of financial statements. This lack of detailed financial reporting limits stakeholders' ability to fully assess the organization's financial health and operational efficiency.
The foundation has demonstrated strengths in governance, with 80% of its board members being independent, and it has solid policies in place regarding conflicts of interest, whistleblowing, and document retention. Additionally, it maintains a favorable liabilities to assets ratio, signifying a sound financial structure. However, its program expense ratio of 54.71% suggests that a lower portion of its budget is devoted to programs compared to its total expenses, which may raise concerns about the effectiveness of its resource allocation.
Overall, while the Latino Business Foundation Silicon Valley shows strong governance and financial accountability, its lack of transparency in financial statements and relatively low program expense ratio reflects areas that need attention for future improvement. Enhancing these aspects could potentially lead to a higher rating and increased trust among donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Latino Business Foundation Silicon Valley legitimate?
Latino Business Foundation Silicon Valley is a legitimate nonprofit organization registered as a 501(c)(3) entity. Latino Business Foundation Silicon Valley 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: $139,360
Professional Fundraising Fees: $46,883
Other Salaries and Wages: $138,733
For more financial information, click here
Official website here: www.lbfsv.org
What is the mission statement of Latino Business Foundation Silicon Valley?
The Latino Business Foundation Silicon Valley's mission is centered around providing empowering resources to existing and future business leaders. This is achieved through a comprehensive approach that involves long-term learning and support. The foundation's actions aim to stimulate entrepreneurial spirit, assist in business growth, and strengthen local associations, ultimately fostering leadership development.
The foundation offers various programs to cater to the needs of its member base, which predominantly consists of individuals from low to median income brackets. These programs include a business academy course, a responsive hotline, a small business incubator, a partner referral network, and workshops tailored to address the challenges faced by entrepreneurs.
Notable among these offerings is the foundation's commitment to staying responsive and flexible, adjusting its approach to meet the evolving needs of entrepreneurs. This is demonstrated through group programs to address collective requirements and personalized, one-on-one support for individuals with specific needs.
In summary, the Latino Business Foundation Silicon Valley's mission is to empower business leaders, foster growth, and strengthen local associations through a comprehensive, responsive, and flexible approach to learning and support.
Official website here: www.lbfsv.org
Who is the CEO of Latino Business Foundation Silicon Valley?
Jesus Flores is the President & Ceo of Latino Business Foundation Silicon Valley. The CEO's salary of Latino Business Foundation Silicon Valley is $139,360 and their total compensation is $139,360.
Official website here: www.lbfsv.org
What is the revenue of Latino Business Foundation Silicon Valley?
Latino Business Foundation Silicon Valley's revenue in 2022 was $637,138.
Official website here: www.lbfsv.org
Who are the executives of Latino Business Foundation Silicon Valley and what are their salaries?
The average compensation at Latino Business Foundation Silicon Valley during 2022 was $69,523. There are 4 employees and 10 volunteers at Latino Business Foundation Silicon Valley.
Here are 5 key members and their salaries (Latino Business Foundation Silicon Valley's CEO's salary is $139,360 and their total compensation is $139,360):
- Compensation: $139,360
- 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.lbfsv.org
Where can I find the form 990 for Latino Business Foundation Silicon Valley?
Latino Business Foundation Silicon Valley's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lbfsv.org
Learn more at the official website: www.lbfsv.org
Mission Statement of Latino Business Foundation Silicon Valley
The Latino Business Foundation Silicon Valley, in its mission, aims to empower existing and upcoming business leaders within the community through sustained learning and support. This nonprofit organization's strategy is centered around stimulating entrepreneurial spirit, nurturing business growth, reinforcing local associations, and fostering leadership development. By providing essential resources, the Latino Business Foundation Silicon Valley strives to make a lasting impact on the business community.
The foundation's plan of action is multifaceted. It prioritizes offering support to small businesses, with a notable focus on family-owned businesses. An overwhelming majority of their member base falls under the low to median income bracket, with a significant portion being of Latino origin, and the remaining belonging to diverse immigrant groups. To bridge any potential language barriers, the foundation offers bilingual support, ensuring that no business is left behind.
Their comprehensive assistance encompasses various programs, including a business academy course, a responsive hotline for small business inquiries, a small business incubator, a partner referral network, and workshops tailored to address the unique challenges faced by entrepreneurs. The Latino Business Foundation Silicon Valley stands out for its commitment to adaptability and responsiveness, ensuring that their programs evolve to meet the ever-changing needs of entrepreneurs. They provide both group programs for collective requirements and personalized, one-on-one support to address individual needs, such as helping businesses complete grant applications or boosting their online presence through social media support.
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Impact
July, 2024
Latino Business Foundation Silicon Valley's impact is evident through its empowerment of business leaders in the community. By providing learning and support resources, the organization ignites the entrepreneurial spirit among its members. Through initiatives like Women in Power and the Beauty Business Industry Council, LBFSV supports single mother business owners and fosters growth in the beauty industry through workshops and speaker series. This contributes to the overall improvement of the community and helps create a more vibrant and inclusive business environment.
This information is meant to be a general summary of Latino Business Foundation Silicon Valley. 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: $637,138
Assets and Liabilities:
- Total Assets: $233,270
- Total Liabilities: $24,226
- Net Assets: $209,044
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Organization Details
Founding Year
2019
Phone
(408) 618-8505Principal Officer
Jesus Flores
Main Address
1652 ALUM ROCK AVE, SAN JOSE, CA, 95116
Website
www.lbfsv.orgNTEE Category
Code: S41 - Community improvement
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