Overview
What is New Majority Capital Foundation Inc?
New Majority Capital Foundation Inc, located in Wakefield, Massachusetts, is a nonprofit organization dedicated to addressing wealth disparities, particularly focusing on gender and racial gaps. Their mission involves empowering entrepreneurs from underrepresented communities by providing educational programs and support services. This support extends to assisting small business owners in succession planning and exit strategies, with two active programs: the Entrepreneurship Through Acquisition (ETA) Accelerator Program and the Succession Ready Program. The ETA program educates and supports individuals in purchasing and scaling an existing small business rather than starting one from scratch. The Succession Ready Program helps business owners create effective succession plans. With a team of one dedicated employee, the foundation aims to ensure that retiring small business owners can leave a lasting legacy in their communities by creating jobs.
Official website here: www.nmcfound.org
Is New Majority Capital Foundation Inc legitimate?
New Majority Capital Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Majority Capital Foundation 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: $44,780
For more financial information, click here
Official website here: www.nmcfound.org
What is the mission statement of New Majority Capital Foundation Inc?
The New Majority Capital Foundation's mission is centered around addressing the gender and racial wealth gaps while ensuring retiring small business owners can leave a lasting impact in their communities. This is achieved through educational programming and support to empower entrepreneurs from underrepresented communities. The foundation offers two active programs: the Entrepreneurship Through Acquisition (ETA) Accelerator Program, which provides educational and support services surrounding the process of buying and scaling an existing small business instead of starting one from scratch, and the Succession Ready Program, which offers education and support to help business owners create succession plans. The overall goal is to help small business owners from underrepresented communities leave a legacy behind, preserving the jobs they've created in their communities.
Official website here: www.nmcfound.org
Who is the CEO of New Majority Capital Foundation Inc?
Allegra Stennett is the President of New Majority Capital Foundation Inc.
Official website here: www.nmcfound.org
What is the revenue of New Majority Capital Foundation Inc?
New Majority Capital Foundation Inc's revenue in 2022 was $454,504.
Official website here: www.nmcfound.org
Who are the executives of New Majority Capital Foundation Inc and what are their salaries?
The average compensation at New Majority Capital Foundation Inc during 2022 was $44,780. There is 1 employee and 3 volunteers at New Majority Capital Foundation Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $44,780
- Related: $0
- Other: $0
Official website here: www.nmcfound.org
Where can I find the form 990 for New Majority Capital Foundation Inc?
New Majority Capital Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nmcfound.org
Learn more at the official website: www.nmcfound.org
Mission Statement of New Majority Capital Foundation Inc
New Majority Capital Foundation Inc, a nonprofit organization, is committed to addressing the gender and racial wealth gaps in a unique way. The foundation aims to empower entrepreneurs from underrepresented communities and ensures that retiring small business owners can leave a lasting legacy in their communities by creating jobs. This mission is achieved through educational programming and support services. The foundation is particularly focused on small business owners considering succession plans and exit strategies. Two of its active programs include the Entrepreneurship Through Acquisition (ETA) Accelerator Program, which offers educational and support services surrounding the process of buying and scaling an existing small business instead of starting one from scratch. The Succession Ready Program provides education and support to help owners of businesses create successful exit strategies. In essence, New Majority Capital Foundation Inc is dedicated to bridging wealth gaps and fostering entrepreneurship, thereby enabling small business owners to leave a lasting impact in their communities.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
New Majority Capital Foundation Inc significantly impacts communities by addressing gender and racial wealth gaps while supporting small business owners in their transition towards retirement. It empowers entrepreneurs from underrepresented backgrounds through innovative educational programming and resources aimed at boosting their business acumen.
The foundation offers specific programs like the Entrepreneurship Through Acquisition (ETA) Accelerator, which equips aspiring business owners with the knowledge and support required to purchase and scale existing businesses. This approach not only fosters individual entrepreneurship but also helps retain jobs and economic stability within communities.
Additionally, the Succession Ready Program assists retiring business owners in creating effective succession plans, ensuring that their legacy and the jobs they've created continue to thrive. By focusing on these critical areas, New Majority Capital Foundation Inc plays a vital role in strengthening the economic fabric of the communities it serves.
This information is meant to be a general summary of New Majority Capital Foundation 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: $454,504
Assets and Liabilities:
- Total Assets: $333,693
- Total Liabilities: $0
- Net Assets: $333,693
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2022
Phone
(781) 864-3447Principal Officer
Allegra Stennett
Main Address
24 ROSEMARY AVENUE, WAKEFIELD, MA, 01880
Website
www.nmcfound.orgNTEE Category
Code: J02 - Employment
If you are a representative of New Majority Capital Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.