Overview
What is Initiative For A Competitive Inner City Inc?
Initiative For A Competitive Inner City Inc, based in Roxbury, Massachusetts, is a nonprofit organization dedicated to fostering economic prosperity in underprivileged communities. They achieve this goal through various initiatives, such as Inner City Capital Connections, which helps small and medium-sized businesses build capacity and resilience, create jobs, and secure capital. Another initiative, 10,000 Small Businesses, partners with Goldman Sachs to provide education, financial capital, and business support services to entrepreneurs. Their Black in Business program, launched in 2022, focuses on empowering Black women entrepreneurs. Cultivate Small Business supports early-stage entrepreneurs, especially those from underrepresented communities, with education, networking, and mentoring. The Inner City 100 awards are given to fast-growing companies in underprivileged areas, offering them national recognition and mentorship opportunities. Building for Growth is a tuition-free executive education program specifically for BIPOC and women-owned construction companies. Lastly, Succession Ready is a series of workshops to help small business owners develop and execute successful succession plans for their businesses.
Official website here: www.icic.org
Is Initiative For A Competitive Inner City Inc legitimate?
Initiative For A Competitive Inner City Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Initiative For A Competitive Inner City 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.
Here are some key statistics you may want to consider:
Executive Compensation: $790,676
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,616,293
For more financial information, click here
Official website here: www.icic.org
What is the mission statement of Initiative For A Competitive Inner City Inc?
The Initiative For A Competitive Inner City Inc, often referred to as ICIC, aims to drive inclusive economic prosperity in under-resourced communities. They accomplish this through innovative research and programs, focusing on creating jobs, income, and wealth for local residents. ICIC's mission encompasses seven initiatives, including Inner City Capital Connections, 10,000 Small Businesses, Black in Business, Cultivate Small Business, Inner City 100, Building for Growth, and Succession Ready. These programs provide various resources such as business education, coaching, and access to capital, ultimately leading to increased revenue growth, job creation, and capital raising.
Official website here: www.icic.org
Who is the CEO of Initiative For A Competitive Inner City Inc?
Steve Grossman is the Chief Executive Officer of Initiative For A Competitive Inner City Inc. The CEO's salary of Initiative For A Competitive Inner City Inc is $330,656 and their total compensation is $348,438.
Official website here: www.icic.org
What is the revenue of Initiative For A Competitive Inner City Inc?
Initiative For A Competitive Inner City Inc's revenue in 2022 was $11,628,829.
Official website here: www.icic.org
Who are the executives of Initiative For A Competitive Inner City Inc and what are their salaries?
The average compensation at Initiative For A Competitive Inner City Inc during 2022 was $62,957. There are 70 employees and 19 volunteers at Initiative For A Competitive Inner City Inc.
Here are 27 key members and their salaries (Initiative For A Competitive Inner City Inc's CEO's salary is $330,656 and their total compensation is $348,438):
- Steve Grossman (Chief Executive Officer) [Trustee/Director]
- Howard Wial (Sr. Vp Of Research)
- Oksana Bondar (Chief Financial Officer)
- Elizabeth Pugh (Development Director)
- Sonia Moin (Senior Director)
- Diego Portillo-Mazal (Program Director)
- Michael Shore (Program Director)
- Anna Marie Cruz (Program Deputy Director)
- Michael Porter (Founder & Chairman Emeritus) [Trustee/Director]
- Ronald Homer (Chairman) [Trustee/Director]
- Barry White (Vice Chairman & Treasurer) [Trustee/Director]
- Brenda Mckenzie (Secretary) [Trustee/Director]
- Linda Applegate (Board Member) [Trustee/Director]
- Barbara Berke (Board Member) [Trustee/Director]
- Rena Clark (Board Member) [Trustee/Director]
- George Gendron (Board Member) [Trustee/Director]
- Dennis Green (Board Member) [Trustee/Director]
- Stephanie Hickman (Board Member) [Trustee/Director]
- Jair Lynch (Board Member) [Trustee/Director]
- Judy Pagliuca (Board Member) [Trustee/Director]
- Jennifer Pinck (Board Member) [Trustee/Director]
- Kevin Prokop (Board Member) [Trustee/Director]
- Kim Sawyer (Board Member) [Trustee/Director]
- Susan Schiro (Board Member) [Trustee/Director]
- Darryl Settles (Board Member) [Trustee/Director]
- Carl Stern (Board Member) [Trustee/Director]
- Willie Woods (Board Member) [Trustee/Director]
Official website here: www.icic.org
Where can I find the form 990 for Initiative For A Competitive Inner City Inc?
The Initiative For A Competitive Inner City Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.icic.org
Learn more at the official website: www.icic.org
Mission Statement of Initiative For A Competitive Inner City Inc
Initiative For A Competitive Inner City Inc, often referred to as ICIC, is a nonprofit organization dedicated to fostering inclusive economic prosperity in underprivileged communities. Its mission is to accomplish this by driving research and implementing programs that create jobs, income, and wealth for local residents. By providing innovative solutions, ICIC aims to bridge the gap between disadvantaged areas and opportunities for growth, ultimately leading to sustainable long-term revenue growth, profitability, and local job creation. The organization's approach encompasses seven initiatives, including Inner City Capital Connections, 10,000 Small Businesses, Black in Business, Cultivate Small Business, Inner City 100, Building for Growth, and Succession Ready. Each initiative addresses specific challenges faced by small businesses and entrepreneurs in under-resourced communities, providing them with the necessary tools, resources, and support to thrive and contribute to their local economies.
Impact
This information is meant to be a general summary of Initiative For A Competitive Inner City Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Initiative For A Competitive Inner City Inc's impact can be seen in the significant outcomes of its programs. For example, the Inner City Capital Connections initiative has served over 5,800 businesses, resulting in an average of 141% revenue growth, creation of 26,000 jobs, and raising over $2.4 billion in capital over the past 17 years. In addition, the 10,000 Small Businesses program has served over 13,600 small businesses from all 50 states and has seen increased revenue among its graduates. Furthermore, the Black In Business initiative, which was launched in 2022, has already served 450 participants, addressing the obstacles faced by Black women sole proprietors in starting and growing their businesses. These initiatives demonstrate ICIC's commitment to driving economic prosperity and creating opportunities for under-resourced communities.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EARNED INCOME
Revenue
$237,600
Organization Details
Founding Year
1994
Phone
(617) 238-1740
Principal Officer
Steve Grossman
Main Address
PO BOX 191297, ROXBURY, MA, 02119
Website
www.icic.org
NTEE Category
Code: L50 - Housing
If you are a representative of Initiative For A Competitive Inner City 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.