Overview
What is Multi-Cultural Development Center?
The Multi-Cultural Development Center is a nonprofit organization situated in Bossier City, Louisiana. Its primary focus includes catering to the needs of both children and families in the community. Through its Child Care Development Program, the center offers high-quality childcare services to infants and children, ensuring their growth and development in a nurturing environment. Furthermore, the organization operates a Housing Counselling Agency, which extends vital financial assistance to low to moderate income clients. This initiative includes providing credit counseling, budgeting classes, default home buyer courses, and instruction in financial literacy. By offering these programs, the Multi-Cultural Development Center empowers families to secure stable housing and improve their overall financial well-being.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60% (Two-Star out of Four Stars)
The Multi-Cultural Development Center has received a Two-Star rating from Charity Navigator, reflecting a moderate level of accountability and financial management. While the organization has a strong independent board with full points in governance aspects like majority independent members and conflict of interest policies, its financial statements have severely impacted its overall rating, receiving no points in this area.
The organization demonstrates effective program spending, with a program expense ratio of 78.48%, indicating a commitment to its mission. However, the concerning liability to assets ratio of 206.29% suggests potential financial instability, which could affect its long-term sustainability and effectiveness in achieving its objectives.
Overall, while the Multi-Cultural Development Center shows strengths in governance and program implementation, its financial management practices need significant improvement to enhance transparency and accountability. Addressing these financial concerns could help the organization improve its rating and better serve its community.
This AI summary has been generated from information found on Charity Navigator.
Is Multi-Cultural Development Center legitimate?
Multi-Cultural Development Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Multi-Cultural Development Center 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:
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Professional Fundraising Fees: $0
Other Salaries and Wages: $667,384
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What is the mission statement of Multi-Cultural Development Center?
The Multi-Cultural Development Center operates with a twofold mission. Firstly, it provides childcare services to infants and children through its Child Care Development Program. Secondly, it operates a housing counseling agency that offers credit, budget, default home buyer classes, and financial literacy to clients with low to moderate income. The aim of these programs is to support families and individuals in need of these essential services.
Who is the CEO of Multi-Cultural Development Center?
Sharon L Mccarty is the President of Multi-Cultural Development Center.
What is the revenue of Multi-Cultural Development Center?
Multi-Cultural Development Center's revenue in 2022 was $1,916,984.
Who are the executives of Multi-Cultural Development Center and what are their salaries?
The average compensation at Multi-Cultural Development Center during 2022 was $14,200. There are 47 employees at Multi-Cultural Development Center.
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Where can I find the form 990 for Multi-Cultural Development Center?
Multi-Cultural Development Center's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Multi-Cultural Development Center
The Multi-Cultural Development Center is dedicated to serving two primary missions. Firstly, it operates a Child Care Development Program, which is committed to providing high-quality childcare services to infants and children. Secondly, the organization runs a Housing Counseling Agency, designed to assist low to moderate income individuals by offering credit counseling, budgeting classes, default home buyer courses, and financial literacy training. This comprehensive approach aims to empower its clients by equipping them with the necessary skills to manage their finances and achieve the dream of homeownership.
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Impact
July, 2024
The Multi-Cultural Development Center has a significant impact in Bossier City, LA, by providing essential services to the community. Its Child Care Development Program offers childcare services to infants and children, supporting working parents and ensuring the well-being of young ones. Additionally, its housing counseling agency plays a crucial role in empowering low to moderate-income clients by offering classes on credit, budgeting, home buying, and financial literacy.
Through these programs, the Multi-Cultural Development Center contributes to the overall well-being and stability of families in the community. By addressing the needs of both children and adults, the center plays a vital role in supporting families to thrive and succeed.
This information is meant to be a general summary of Multi-Cultural Development Center. 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.
- Program Service Revenue: $1,916,984
- Gross Receipts: $1,916,984
Assets and Liabilities:
- Total Assets: $702,431
- Total Liabilities: $1,449,071
- Net Assets: -$746,640
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DAYCARE INCOME
Revenue
$1,669,322
MCDC HOUSING
Revenue
$157,662
PPP LOAN FORGIVENESS
Revenue
$90,000
Organization Details
Founding Year
2005
Principal Officer
Sharon L Mccarty
Main Address
935 EATMAN STREET, BOSSIER CITY, LA, 711113971
NTEE Category
Code: P20 - Human services
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