Overview
What is Ignite Capital Inc?
Ignite Capital Inc is a social impact fund situated in Baltimore, Maryland, specifically at 1400 Greenmount Ave B01. Their primary mission is to empower and provide resources to social enterprises operating in economically distressed communities within Baltimore. By supporting these enterprises, Ignite Capital aims to assist them in attracting future investments that align with their missions. Furthermore, the organization plays a crucial role in contributing to ongoing efforts that ensure Baltimore's neighborhoods thrive sustainably.
Official website here: www.ignitecapital.org
Is Ignite Capital Inc legitimate?
Ignite Capital Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ignite Capital 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $46,182
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Official website here: www.ignitecapital.org
What is the mission statement of Ignite Capital Inc?
Ignite Capital Inc is a social impact fund with a mission to support and empower social enterprises in economically distressed communities. One of its primary objectives is to resource these enterprises, providing them with the necessary tools to thrive. Additionally, Ignite Capital Inc aims to assist these enterprises in attracting future investments, thereby strengthening their ability to fulfill their respective missions. Lastly, the fund contributes to the ongoing efforts to ensure that these communities are sustainably thriving.
Official website here: www.ignitecapital.org
Who is the CEO of Ignite Capital Inc?
Jay Nwachu is the Chairman of Ignite Capital Inc.
Official website here: www.ignitecapital.org
What is the revenue of Ignite Capital Inc?
Ignite Capital Inc's revenue in 2022 was $317,895.
Official website here: www.ignitecapital.org
Who are the executives of Ignite Capital Inc and what are their salaries?
Here are 7 key members and their salaries:
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- Related: $131,389
- Other: $11,199
Official website here: www.ignitecapital.org
Where can I find the form 990 for Ignite Capital Inc?
Ignite Capital Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ignitecapital.org
Learn more at the official website: www.ignitecapital.org
Mission Statement of Ignite Capital Inc
Ignite Capital Inc, a social impact fund, is dedicated to a threefold mission. Firstly, it aims to empower and provide resources to social enterprises in economically distressed communities within Baltimore. Secondly, Ignite Capital supports the broader efforts of these social enterprises to attract future investments, thereby strengthening their capacity to accomplish their mission. Lastly, the organization contributes to ongoing efforts to ensure that Baltimore neighborhoods thrive sustainably. In essence, Ignite Capital Inc plays a pivotal role in fostering the growth and development of social enterprises, ultimately contributing to the overall improvement and long-term sustainability of Baltimore's communities.
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Impact
October, 2024
Ignite Capital Inc. plays a crucial role in fostering economic growth and community improvement in Baltimore's economically distressed neighborhoods. By empowering and resourcing local social enterprises, the organization enhances their capacity to drive positive change. This support not only helps these enterprises achieve their immediate missions but also attracts future investments, ensuring their sustainability and long-term success.
The impact extends beyond individual organizations. Through its efforts, Ignite Capital contributes to the overall revitalization of Baltimore’s neighborhoods, working to create thriving environments that can support both economic resilience and social well-being. By focusing on economically distressed areas, Ignite Capital is a key player in addressing systemic challenges, promoting social equity, and fostering a more inclusive economy.
This information is meant to be a general summary of Ignite Capital 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: $9,532
- Gross Receipts: $317,895
Assets and Liabilities:
- Total Assets: $2,079,883
- Total Liabilities: $1,876,875
- Net Assets: $203,008
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Organization Details
Founding Year
2020
Phone
(410) 371-4722Principal Officer
Jay Nwachu
Main Address
1400 GREENMOUNT AVE B01, BALTIMORE, MD, 21202
Website
www.ignitecapital.orgNTEE Category
Code: S43 - Community improvement
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