Overview
What is Long Beach Center For Economic Inclusion?
The Long Beach Center for Economic Inclusion (LBCEI) is a community development corporation situated in Long Beach, California. With a primary focus on economic resilience, LBCEI has established a network of 9 food pantry partners and 3 neighborhood groups, collectively addressing the rising food insecurity needs in underserved communities during the COVID-19 pandemic. This network has been providing essential aid to over 1,500 households weekly since April 2020. In addition to food distribution, LBCEI offers financial literacy education for various age groups, including children, youth, and adults. They also strive to expand multilingual financial literacy classes and facilitate reintegration activities, such as expungement workshops, to help residents connect with financial institutions. LBCEI's mission is to expand inclusive economic opportunities, aiming to build and sustain wealth for all communities in Long Beach.
Official website here: www.lbcei.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
The Long Beach Center for Economic Inclusion has received a 77% rating from Charity Navigator, indicating a solid performance in its accountability and finance practices. The score is solely based on the accountability and finance beacon, reflecting a commitment to transparency and responsible financial management. The organization boasts a 100% independent board, demonstrating a strong governance structure.
Strengths highlighted include a high program expense ratio of 87.74%, which suggests that the majority of its funds are directed towards its mission-focused activities. The charity has listed crucial policies such as conflict of interest and document retention, contributing positively to its overall accountability. Notably, there were no material diversions of assets reported, underscoring the integrity of its financial operations.
However, the organization lacks a whistleblower policy, which is an important aspect of safeguarding against unethical behavior. While the absence of this policy does not significantly detract from its rating, it does point to an area for potential improvement. Overall, the Long Beach Center for Economic Inclusion demonstrates commendable financial health and governance, with some minor gaps in policy that could enhance its accountability further.
This AI summary has been generated from information found on Charity Navigator.
Is Long Beach Center For Economic Inclusion legitimate?
Long Beach Center For Economic Inclusion is a legitimate nonprofit organization registered as a 501(c)(3) entity. Long Beach Center For Economic Inclusion 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: $72,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.lbcei.org
What is the mission statement of Long Beach Center For Economic Inclusion?
The Long Beach Center for Economic Inclusion, as a community development corporation, is dedicated to expanding inclusive economic opportunities. Their mission is to foster and maintain wealth for all communities, promoting economic resiliency. They achieve this by offering financial literacy education for various age groups, facilitating reintegration activities, and connecting residents to financial institutions. The center also focuses on multilingual financial literacy classes and hosting expungement workshops. Additionally, their initiatives aim to serve under-served communities, particularly in Long Beach, by addressing food insecurity through the Long Beach Food Support Network, which has been actively serving over 1,500 households every week since the onset of the COVID-19 pandemic.
Official website here: www.lbcei.org
Who is the CEO of Long Beach Center For Economic Inclusion?
Suny Lay Chang is the Treasurer of Long Beach Center For Economic Inclusion.
Official website here: www.lbcei.org
What is the revenue of Long Beach Center For Economic Inclusion?
Long Beach Center For Economic Inclusion's revenue in 2022 was $1,407,069.
Official website here: www.lbcei.org
Who are the executives of Long Beach Center For Economic Inclusion and what are their salaries?
Here are 11 key members and their salaries:
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Official website here: www.lbcei.org
Where can I find the form 990 for Long Beach Center For Economic Inclusion?
Long Beach Center For Economic Inclusion's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.lbcei.org
Learn more at the official website: www.lbcei.org
Mission Statement of Long Beach Center For Economic Inclusion
The Long Beach Center for Economic Inclusion, abbreviated as LBCEI, is a community development corporation with a mission to broaden and sustain economic opportunities, fostering wealth for all communities within Long Beach. In simpler terms, LBCEI strives to create an inclusive economic environment where everyone, regardless of their background, can thrive and build wealth.
To achieve this mission, LBCEI engages in various initiatives. One of their key focus areas is economic resiliency. To address food insecurity, they have established a network of food pantries and neighborhood groups, collectively known as the Long Beach Food Support Network. This network has been instrumental in providing free food to over 1,500 households every week since the outbreak of the COVID-19 pandemic, helping to meet the growing needs of underserved communities in the city.
Beyond food support, LBCEI also offers financial literacy education for individuals of all ages, including children, youth, and adults. They strive to make these resources multilingual, ensuring that everyone can benefit from financial education, regardless of their language background. Additionally, LBCEI facilitates reintegration activities, such as expungement workshops, connecting residents to financial institutions, and offering assistance with job opportunities. Their goal is to help individuals rebuild their lives and achieve financial stability.
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Impact
July, 2024
LBCEI's impact can be seen through its efforts to expand inclusive economic opportunities and build wealth for all communities in Long Beach. Through initiatives such as financial literacy education for all ages, multilingual financial classes, and reintegration activities like expungement workshops, LBCEI is empowering residents and connecting them to financial institutions. The Long Beach food support network, a key project of LBCEI, has been instrumental in meeting the growing food insecurity needs of under-served communities in the city, serving over 1,500 households every week since last April. By promoting economic resiliency and providing vital resources, LBCEI is making a tangible difference in the lives of Long Beach residents.
This information is meant to be a general summary of Long Beach Center For Economic Inclusion. 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: $14
- Gross Receipts: $1,407,069
Assets and Liabilities:
- Total Assets: $352,847
- Total Liabilities: $135,984
- Net Assets: $216,863
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Organization Details
Founding Year
2020
Phone
(310) 562-6665Principal Officer
Suny Lay Chang
Main Address
6509 GUNDRY AVE, LONG BEACH, CA, 90805
Website
www.lbcei.orgNTEE Category
Code: P20 - Human services
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