Overview
What is Adelante Foundation Inc?
Adelante Foundation Inc is a microfinance institution based in Honduras, specifically with five offices located in various departments including Atlantida, Intibuca, and Choluteca. The organization's primary mission is to uplift the economic status of impoverished women in rural Honduras through small business loans. In 2019, the loan portfolio totaled $1,619,170, financing local enterprises to bolster the region's economy and overall quality of life. Adelante Foundation Inc also offers ongoing training on various business topics to its loan recipients, fostering their growth and success. The nonprofit, with a small workforce of one individual, positively impacts the lives of thousands of women in Honduras.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star rating)
The Adelante Foundation Inc has received a commendable rating of 79%, which reflects a solid performance in accountability and finance. The organization excels in governance, with 100% independent board members and robust financial practices, including a low liabilities to assets ratio. The majority of its scores in these areas indicate a commitment to transparency and effective management.
Strengths of the organization are highlighted by its perfect scores in culture and community, as well as leadership and adaptability. Feedback collection and usage are particularly noted for their effectiveness, suggesting that the organization actively engages with stakeholders to improve its operations. Additionally, the foundation's program expense ratio of 78.18% signifies a strong focus on its mission-driven programs.
However, a notable limitation is the absence of a whistleblower policy, which may impact perceptions of organizational integrity. Nonetheless, the overall metrics indicate that Adelante Foundation Inc maintains a sound operational framework while fostering a culture of accountability and engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Adelante Foundation Inc legitimate?
Adelante Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Adelante 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: $405,855
For more financial information, click here
What is the mission statement of Adelante Foundation Inc?
The Adelante Foundation Inc operates as a microfinance institution, primarily serving 4,000 impoverished women in rural areas of Honduras. The organization provides small business loans, totaling $1,619,170 in 2019, with the aim of improving the economic status and quality of life for these women and eventually, the nation as a whole. The foundation operates multiple offices across Honduras, providing ongoing business training to its loan recipients to ensure their success. The mission of the Adelante Foundation Inc can be summarized as empowering underprivileged women through microfinance and business education, thereby contributing to the overall economic growth of Honduras.
Who is the CEO of Adelante Foundation Inc?
Rich Lang is the Director/Founder of Adelante Foundation Inc.
What is the revenue of Adelante Foundation Inc?
Adelante Foundation Inc's revenue in 2022 was $1,060,392.
Who are the executives of Adelante Foundation Inc and what are their salaries?
The average compensation at Adelante Foundation Inc during 2022 was $405,855. There is 1 employee at Adelante Foundation Inc.
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Where can I find the form 990 for Adelante Foundation Inc?
Adelante Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Adelante Foundation Inc
Adelante Foundation Inc, operating as a microfinance institution, is dedicated to serving impoverished women in rural Honduras. Its primary mission is to provide these women with small business loans, aiming to enhance their economic standing and improve the overall quality of life in Honduras. Adelante Foundation Inc has established a presence in five locations across the country, with three offices situated along or near the North Coast in the Department of Atlantida, one in the Department of Intibuca, and another in the Department of Choluteca. In addition to offering financial assistance, the organization provides ongoing training to its loan recipients on various business-related topics, empowering them to effectively manage and grow their ventures. By supporting these women, Adelante Foundation Inc is contributing to the economic growth and development of Honduras.
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Impact
July, 2024
Adelante Foundation Inc's impact can be seen through its microfinance operations in Honduras, where it serves 4,000 poor women in rural areas. In 2019, the foundation's loan portfolio totaled $1,619,170, financing small businesses to improve the women's economic situation and, by extension, contributing to the overall economy and quality of life in Honduras. The organization has five offices in the country, providing ongoing training on various business topics to the loan recipients. This direct support and investment in women entrepreneurs in Honduras help empower them to build sustainable livelihoods and make a positive impact on their communities.
This information is meant to be a general summary of Adelante 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.
- Investment Income: $7
- Program Service Revenue: $918,826
- Gross Receipts: $1,060,392
Assets and Liabilities:
- Total Assets: $2,294,344
- Total Liabilities: $489,947
- Net Assets: $1,804,397
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MICROCREDIT INTEREST
Revenue
$769,041
Organization Details
Founding Year
1999
Phone
(415) 999-9647Principal Officer
Rich Lang
Main Address
37 UPENUF ROAD, WOODSIDE, CA, 94062
NTEE Category
Code: Q33 - International
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