Overview
What is Community Investment Corporation?
The Community Investment Corporation, located in Tucson, Arizona, is a nonprofit organization devoted to improving the economic landscape of Pima County and the interconnected regional economy of Southern Arizona. By extending loans and financial assistance to local businesses that struggle to secure funding from traditional capital access institutions, CIC promotes economic development and employment opportunities. The organization's mission is to create a better life for the residents of their community through strategic investments serving public purpose. With a team of 30 employees, they aim to leverage their capital responsibly and generate a reasonable rate of return.
Official website here: www.communityinvestmentcorporation.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 100%
Community Investment Corporation has achieved a remarkable Four-Star out of Four Star rating from Charity Navigator, indicating top-tier performance in accountability and finance. This rating reflects the organization’s strong adherence to best practices in nonprofit governance, with a 100% independent board and robust financial oversight. The organization demonstrates a commitment to transparency, as evidenced by its comprehensive conflict of interest and whistleblower policies.
The financial health of Community Investment Corporation is impressive, highlighted by a program expense ratio of 98.12%. This suggests that nearly all funds raised are directed towards its programs rather than administrative costs. The organization also maintains a low liabilities to assets ratio of 40.42%, indicating a strong financial position with minimal debt compared to its assets.
There are no notable limitations or issues reported, which reinforces the organization's credibility and reliability in its operations. Overall, Community Investment Corporation stands out as a model nonprofit that prioritizes accountability, effective governance, and financial stewardship.
This AI summary has been generated from information found on Charity Navigator.
Is Community Investment Corporation legitimate?
Community Investment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Investment Corporation 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: $333,851
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,267,784
For more financial information, click here
Official website here: www.communityinvestmentcorporation.com
What is the mission statement of Community Investment Corporation?
The Community Investment Corporation strives to enhance the lives of community residents by facilitating economic development through targeted programs. They focus on securing strategic investments that serve public purpose, leading to increased employment opportunities and the reasonable utilization of their capital. By providing loans and financial assistance to historically underserved businesses, the corporation plays a vital role in supporting local and regional economic development, including business creation and employment retention.
Official website here: www.communityinvestmentcorporation.com
Who is the CEO of Community Investment Corporation?
Daniel Knee is the Executive Di of Community Investment Corporation.
Official website here: www.communityinvestmentcorporation.com
What is the revenue of Community Investment Corporation?
Community Investment Corporation's revenue in 2022 was $29,133,218.
Official website here: www.communityinvestmentcorporation.com
Who are the executives of Community Investment Corporation and what are their salaries?
The average compensation at Community Investment Corporation during 2022 was $53,388. There are 30 employees and 3 volunteers at Community Investment Corporation.
Here are 7 key members and their salaries:
- Compensation: $132,716
- Related: $0
- Other: $0
- Compensation: $107,584
- Related: $0
- Other: $0
- Compensation: $93,552
- 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.communityinvestmentcorporation.com
Where can I find the form 990 for Community Investment Corporation?
Community Investment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.communityinvestmentcorporation.com
Learn more at the official website: www.communityinvestmentcorporation.com
Mission Statement of Community Investment Corporation
Community Investment Corporation (CIC) is a mission-driven organization dedicated to enhancing the lives of community members by pursuing economic development opportunities and securing strategic investments. With a focus on public purpose, CIC aims to expand employment prospects and leverage its capital with a reasonable rate of return.
In simple terms, CIC provides loans and financial assistance to underserved businesses in their local community and the interconnected regional economy. These loans are granted based on their commitment to supporting local and regional economic development, which encompasses business creation and retention. Through their financial assistance, CIC plays a crucial role in creating a more prosperous economic landscape for their community.
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Impact
October, 2024
Community Investment Corporation plays a pivotal role in enhancing economic development in Pima County and the surrounding Southern Arizona region. By providing loans and financial assistance to businesses that typically struggle to secure funding through traditional capital access institutions, CIC helps empower historically underserved enterprises. This targeted support not only fosters business creation and retention but also contributes to job growth in the community.
Through strategic investments, CIC focuses on initiatives that serve the public good, enhancing employment opportunities and stimulating local economies. Its mission to create a better life for residents translates into tangible benefits, as the organization works diligently to leverage its capital for community enhancement. Overall, CIC’s efforts are instrumental in driving economic progress and improving the quality of life for individuals in the region.
This information is meant to be a general summary of Community Investment Corporation. 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: $21,290
- Program Service Revenue: $585,729
- Gross Receipts: $29,133,218
Assets and Liabilities:
- Total Assets: $7,216,465
- Total Liabilities: $2,917,219
- Net Assets: $4,299,246
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
HOME OWNERSHIP ASSISTANCE
Revenue
$272,028
SCHOOL SERVICES PROGRAM
Revenue
$222,673
LOAN SERVICING PROGRAM
Revenue
$91,028
Organization Details
Founding Year
1996
Phone
(520) 529-1766Principal Officer
Daniel Knee
Main Address
2033 E GRANT RD, TUCSON, AZ, 85719
NTEE Category
Code: S31Z - Community improvement
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