Overview
What is Cdfi Friendly Of South Bend Inc?
Cdfi Friendly of South Bend Inc is a nonprofit organization situated in South Bend, Indiana. With a single employee, their mission is to enhance the economic conditions of the lower income population within the community. They achieve this by supporting community development financial institutions and other organizations, helping them provide affordable and flexible financing options for housing, job development, charitable, and educational services. By doing so, they aim to make these resources more accessible to their target population.
Official website here: www.cdfifriendlysouthbend.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 73%)
Cdfi Friendly Of South Bend Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in certain operational areas. While the organization demonstrates strong accountability through an entirely independent board and commendable program expense ratio of 98.62%, it faces significant challenges in transparency, as evidenced by the absence of required financial statements and certain governance policies.
Strengths of the organization include a strong commitment to accountability, with all board members being independent and an excellent liabilities to assets ratio of 0.19%. However, the lack of a whistleblower policy and missing documents, such as the tax form on its website, raise concerns about its adherence to best practices in nonprofit governance and financial transparency.
Overall, while Cdfi Friendly Of South Bend Inc shows potential with high program expenses directed toward its mission, its operational shortcomings in transparency and governance practices reflect areas that require attention to improve its standing and effectiveness within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Cdfi Friendly Of South Bend Inc legitimate?
Cdfi Friendly Of South Bend Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cdfi Friendly Of South Bend 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: $97,972
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.cdfifriendlysouthbend.org
What is the mission statement of Cdfi Friendly Of South Bend Inc?
Cdfi Friendly Of South Bend Inc's mission is centered around enhancing the economic well-being of its lower income community members. The organization achieves this by supporting community development financial institutions and other organizations in providing affordable, flexible, and accessible financing. This financing is primarily used for housing, job development, charitable, and educational services. By establishing a network of financial parties, Cdfi Friendly Of South Bend Inc aids in the financing of its target population, aiming to improve their overall living conditions.
Official website here: www.cdfifriendlysouthbend.org
Who is the CEO of Cdfi Friendly Of South Bend Inc?
Paula Sours is the Treasurer of Cdfi Friendly Of South Bend Inc.
Official website here: www.cdfifriendlysouthbend.org
What is the revenue of Cdfi Friendly Of South Bend Inc?
Cdfi Friendly Of South Bend Inc's revenue in 2022 was $58,250.
Official website here: www.cdfifriendlysouthbend.org
Who are the executives of Cdfi Friendly Of South Bend Inc and what are their salaries?
The average compensation at Cdfi Friendly Of South Bend Inc during 2022 was $97,972. There is 1 employee and 9 volunteers at Cdfi Friendly Of South Bend Inc.
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Official website here: www.cdfifriendlysouthbend.org
Where can I find the form 990 for Cdfi Friendly Of South Bend Inc?
Cdfi Friendly Of South Bend Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cdfifriendlysouthbend.org
Learn more at the official website: www.cdfifriendlysouthbend.org
Mission Statement of Cdfi Friendly Of South Bend Inc
Cdfi Friendly Of South Bend Inc is dedicated to enhancing the economic conditions of its lower income community members. To accomplish this mission, the organization aids community development financial institutions and other organizations in providing affordable, flexible, and accessible financing for various purposes. These purposes include housing, job development, charitable services, and educational initiatives. By establishing a network of financial parties, Cdfi Friendly Of South Bend Inc plays a vital role in ensuring that crucial resources are made available to those who need them the most. By doing so, the nonprofit organization contributes to the overall improvement of its community's economic well-being.
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Impact
August, 2024
Cdfi Friendly Of South Bend Inc's impact can be seen in the tangible improvements in the economic conditions of lower income residents in South Bend, Indiana. By facilitating access to low-cost, flexible financing for housing, job development, charitable services, and educational programs, this organization is actively working towards uplifting and empowering individuals and communities in need. Its mission to support community development financial institutions and other organizations in providing affordable financing is creating a strong network of financial partners dedicated to the betterment of the target population. Through its efforts, Cdfi Friendly Of South Bend Inc is making a significant contribution to the community improvement of South Bend and the welfare of its residents.
This information is meant to be a general summary of Cdfi Friendly Of South Bend 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.
- Gross Receipts: $58,250
Assets and Liabilities:
- Total Assets: $362,537
- Total Liabilities: $1,601
- Net Assets: $360,936
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Organization Details
Founding Year
2020
Principal Officer
Paula Sours
Main Address
2740 Miami St, South Bend, IN, 46614
NTEE Category
Code: S43 - Community improvement
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