Overview
What is Seattle Economic Development Fund Business Impact Nw?
Seattle Economic Development Fund Business Impact Nw is a nonprofit organization situated in Tukwila, Washington. As a certified Community Development Financial Institution (CDFI), they primarily offer financing and management assistance to businesses that might not secure funding through conventional methods. Their mission is to foster economic development in Washington State, specifically assisting small businesses that fail to meet the criteria for private financing. Business Impact Nw, through their work, contributes to the growth of enterprises in underserved communities, thereby creating employment opportunities. Their team consists of 71 dedicated individuals.
Official website here: www.businessimpactnw.org
What are the reviews and ratings of this charity?
**Rating: 90% (Four-Star out of Four Star Rating on Charity Navigator)**
The Seattle Economic Development Fund Business Impact NW has achieved a commendable Four-Star rating on Charity Navigator, reflecting their strong commitment to accountability and transparency. The overall score, predominantly influenced by their accountability and finance metrics, demonstrates an effective governance structure with a fully independent board and adherence to best practices in financial oversight.
While the organization scored exceptionally well in various metrics, including a perfect score in Culture & Community, the lack of a score for Leadership & Adaptability suggests there may be areas for further assessment. Program expenses appear to be efficiently utilized, with a significant portion dedicated directly to their initiatives, although the liabilities-to-assets ratio indicates potential financial caution.
Unfortunately, user reviews from GreatNonprofits could not be accessed, leaving a gap in public sentiment concerning their on-the-ground impact. However, the current scoring and metrics underscore that Business Impact NW is a well-run organization prioritizing community engagement and effective service delivery.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Seattle Economic Development Fund Business Impact Nw?
98% of 5 reviewers on Facebook recommend the Seattle Economic Development Fund Business Impact NW. Here is a summary of their reviews:
The organization is praised for being a valuable resource for small businesses, with many reviewers expressing their appreciation for the attentive support received. Users highlight the positive impact the nonprofit has on helping businesses thrive, emphasizing the care and dedication demonstrated by the team.
Overall, the sentiment is overwhelmingly positive, indicating that the nonprofit effectively meets the needs of small business owners and delivers on its commitments.
This AI summary has been generated from reviews found on Facebook.
Is Seattle Economic Development Fund Business Impact Nw legitimate?
Seattle Economic Development Fund Business Impact Nw is a legitimate nonprofit organization registered as a 501(c)(3) entity. Seattle Economic Development Fund Business Impact Nw 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: $137,244
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,087,011
For more financial information, click here
Official website here: www.businessimpactnw.org
What is the mission statement of Seattle Economic Development Fund Business Impact Nw?
The mission of Seattle Economic Development Fund Business Impact Nw, as a certified Community Development Financial Institution (CDFI), is to offer economic development financing. This mission serves the needs of small businesses in Washington State that typically do not meet the criteria for private financing under conventional financing methods. Their primary objective is to provide financing and management assistance to businesses that would otherwise be unable to secure funding through traditional means, thereby promoting the growth of businesses in underserved communities and creating job opportunities.
Official website here: www.businessimpactnw.org
Who is the CEO of Seattle Economic Development Fund Business Impact Nw?
Joe Sky-Tucker is the President/Ceo of Seattle Economic Development Fund Business Impact Nw. The CEO's salary of Seattle Economic Development Fund Business Impact Nw is $119,773 and their total compensation is $137,244.
Official website here: www.businessimpactnw.org
What is the revenue of Seattle Economic Development Fund Business Impact Nw?
Seattle Economic Development Fund Business Impact Nw's revenue in 2022 was $9,619,486.
Official website here: www.businessimpactnw.org
Who are the executives of Seattle Economic Development Fund Business Impact Nw and what are their salaries?
The average compensation at Seattle Economic Development Fund Business Impact Nw during 2022 was $45,412. There are 71 employees and 70 volunteers at Seattle Economic Development Fund Business Impact Nw.
Here are 12 key members and their salaries (Seattle Economic Development Fund Business Impact Nw's CEO's salary is $119,773 and their total compensation is $137,244):
- Compensation: $119,773
- Related: $0
- Other: $17,471
- Compensation: $0
- 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
- Compensation: $0
- 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
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.businessimpactnw.org
Where can I find the form 990 for Seattle Economic Development Fund Business Impact Nw?
Seattle Economic Development Fund Business Impact Nw's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.businessimpactnw.org
Learn more at the official website: www.businessimpactnw.org
Mission Statement of Seattle Economic Development Fund Business Impact Nw
Seattle Economic Development Fund Business Impact Nw is dedicated to advancing economic growth within underserved communities by providing financing opportunities to small businesses that may not qualify for conventional financing. As a certified Community Development Financial Institution (CDFI), this nonprofit organization administers a loan fund, offering financing and management assistance to businesses that would otherwise struggle to secure funding through traditional methods. The primary aim of Seattle Economic Development Fund Business Impact Nw is to serve the needs of small businesses in Washington State, fostering job creation and contributing to the overall economic development of these 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
July, 2024
Seattle Economic Development Fund Business Impact NW's impact is in growing businesses that create jobs in underserved communities. It provides economic development financing to serve the needs of small businesses in Washington state that wouldn't qualify for private financing under conventional criteria. By offering financing and management assistance primarily to targeted businesses that struggle to secure funding through traditional means, the organization helps foster economic growth and entrepreneurship in underrepresented areas.
This information is meant to be a general summary of Seattle Economic Development Fund Business Impact Nw. 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: $2,541,222
- Program Service Revenue: $1,745,672
- Gross Receipts: $9,870,568
Assets and Liabilities:
- Total Assets: $28,030,464
- Total Liabilities: $17,139,372
- Net Assets: $10,891,092
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$1,153,582
LOAN FEES AND CHARGES
Revenue
$551,152
TRAINING FEES
Revenue
$40,938
Organization Details
Founding Year
1997
Phone
(206) 324-4330Principal Officer
Joe Sky-Tucker
Main Address
12720 GATEWAY DR S 207, TUKWILA, WA, 98144
Website
www.businessimpactnw.orgNTEE Category
Code: S21 - Community improvement
If you are a representative of Seattle Economic Development Fund Business Impact Nw 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.