Overview
What is The Urban Empowerment Fund?
The Urban Empowerment Fund is a nonprofit organization situated in New York City, specifically at 80 Pine Street 9th Floor, New York, NY 10005. Its primary mission is to aid Minority Business Enterprises (MBEs) in gaining access to capital, ensuring their survival, prosperity, growth, and job creation, ultimately contributing to both individual and community wealth. To accomplish this, the Urban Empowerment Fund offers business advisory services, provides a range of small business loans ranging from $50,000 to $250,000, and engages in policy advocacy to enhance the business climate for MBEs. With a small team of dedicated professionals, the Urban Empowerment Fund strives to empower minority businesses to thrive and make a positive impact in their communities.
Official website here: www.uefund.org
Is The Urban Empowerment Fund legitimate?
The Urban Empowerment Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Urban Empowerment Fund 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: $149,085
For more financial information, click here
Official website here: www.uefund.org
What is the mission statement of The Urban Empowerment Fund?
The Urban Empowerment Fund's mission is centered around assisting Minority Business Enterprises (MBEs) in their journey. Its primary objective is to help these businesses gain access to necessary capital, allowing them to not only survive but also prosper and grow. The fund's ultimate goal is to create job opportunities and contribute to the generation of both individual and community wealth. To achieve this, The Urban Empowerment Fund provides business advisory services, offers small business loans ranging from $50,000 to $250,000, and engages in policy advocacy to enhance the business climate for MBEs.
Official website here: www.uefund.org
Who is the CEO of The Urban Empowerment Fund?
Marc H Morial is the Board Chair of The Urban Empowerment Fund.
Official website here: www.uefund.org
What is the revenue of The Urban Empowerment Fund?
The Urban Empowerment Fund's revenue in 2022 was $463,039.
Official website here: www.uefund.org
Who are the executives of The Urban Empowerment Fund and what are their salaries?
The average compensation at The Urban Empowerment Fund during 2022 was $149,085. There is 1 employee and 2 volunteers at The Urban Empowerment Fund.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $1,139,194
- Other: $69,446
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $312,341
- Other: $1,953
- Compensation: $128,587
- Related: $0
- Other: $14,504
Official website here: www.uefund.org
Where can I find the form 990 for The Urban Empowerment Fund?
The Urban Empowerment Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.uefund.org
Learn more at the official website: www.uefund.org
Mission Statement of The Urban Empowerment Fund
The Urban Empowerment Fund, as a nonprofit organization, is committed to assisting Minority Business Enterprises (MBEs) in their journey towards financial stability and growth. Its mission is twofold: firstly, it aims to help these businesses gain access to essential capital. This capital is crucial for the survival and prosperity of these enterprises, allowing them to grow and create job opportunities. Secondly, The Urban Empowerment Fund aims to contribute to the generation of both individual and community wealth. By supporting MBEs, it seeks to foster economic growth and development within the community, ultimately benefiting a wide range of individuals.
To accomplish its mission, The Urban Empowerment Fund provides various services. It offers business advisory services, providing valuable guidance and support to MBEs. Furthermore, it provides a range of small business loan products, with loan amounts ranging from $50,000 to $250,000. These loans can be instrumental in helping MBEs overcome financial challenges and invest in their future growth. Lastly, The Urban Empowerment Fund engages in policy advocacy to improve the business climate for MBEs. By advocating for policies that support these enterprises, it can help create a more favorable environment for their success.
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Impact
July, 2024
The Urban Empowerment Fund has made a significant impact in empowering minority business enterprises (MBEs) to gain access to capital, survive economic challenges, prosper, grow, create jobs, and generate individual and community wealth. Through its business advisory services, offering a range of small business loan products, and engaging in policy advocacy, the fund has played a crucial role in improving the business climate for MBEs in New York. This has led to tangible outcomes such as increased access to funding, job creation, and overall community improvement. The Urban Empowerment Fund's dedication to supporting MBEs has had a positive ripple effect, contributing to the economic empowerment and success of minority entrepreneurs and their communities.
This information is meant to be a general summary of The Urban Empowerment Fund. 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: $117,086
- Gross Receipts: $463,039
Assets and Liabilities:
- Total Assets: $3,939,534
- Total Liabilities: $1,671,596
- Net Assets: $2,267,938
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME FROM P
Revenue
$110,286
CLOSING INCOME FROM PR
Revenue
$6,800
Organization Details
Founding Year
2011
Phone
(212) 558-5300Principal Officer
Marc H Morial
Main Address
80 PINE STREET 9TH FLOOR, NEW YORK, NY, 10005
Website
www.uefund.orgNTEE Category
Code: S31 - Community improvement
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