Overview
What is Lummi Community Development Financial Institution?
Lummi Community Development Financial Institution is a nonprofit organization situated in Bellingham, Washington. Its primary mission is to facilitate community growth, development, and education by offering small business loans, thereby keeping financial resources within the Lummi Tribe and surrounding area for their benefit. The institution aims to improve family prosperity and well-being by providing access to education through technical assistance, financial literacy, budgeting, and business plan counseling. By serving as a bridge to mainstream financing institutions, the organization offers collateralized loans for microenterprises and small businesses, supporting working capital and fixed asset needs. Lummi Community Development Financial Institution lends to members of the Lummi Nation, Lummi Reservation residents, and other eligible individuals and entities whose activities contribute to social or economic benefits for the Lummi community or its residents, all with a staff of four employees.
Official website here: www.lummicdfi.org
Is Lummi Community Development Financial Institution legitimate?
Lummi Community Development Financial Institution is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lummi Community Development Financial Institution 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: $89,603
Professional Fundraising Fees: $0
Other Salaries and Wages: $210,060
For more financial information, click here
Official website here: www.lummicdfi.org
What is the mission statement of Lummi Community Development Financial Institution?
The Lummi Community Development Financial Institution's mission is centered around improving the prosperity and well-being of families. It achieves this by providing access to education, financing, and asset growth. The organization offers technical assistance and development services, focusing on financial literacy, budgeting, and business plan counseling. Acting as a bridge to mainstream financing institutions, it offers collateralized loans for microenterprises and small businesses, aiding in working capital and fixed assets. The institution extends loans to members of the Lummi Nation, residents of the Lummi Reservation, and other eligible entities, whose activities will contribute to social or economic benefits for the Lummi Nation or its residents.
Official website here: www.lummicdfi.org
Who is the CEO of Lummi Community Development Financial Institution?
Rex Rhoades is the Chair of Lummi Community Development Financial Institution.
Official website here: www.lummicdfi.org
What is the revenue of Lummi Community Development Financial Institution?
Lummi Community Development Financial Institution's revenue in 2022 was $1,616,846.
Official website here: www.lummicdfi.org
Who are the executives of Lummi Community Development Financial Institution and what are their salaries?
The average compensation at Lummi Community Development Financial Institution during 2022 was $74,916. There are 4 employees and 9 volunteers at Lummi Community Development Financial Institution.
Here are 10 key members and their salaries:
- Nancy Jordan (Interim Executive Director)
- Rex Rhoades (Chair) [Trustee/Director]
- Ellie Wilbur (Board Member) [Trustee/Director]
- Fred A Enginowuk (Treasurer) [Trustee/Director]
- Becky Kinley (Board Member) [Trustee/Director]
- Lexie Tom (Board Member) [Trustee/Director]
- Joseph Bowen (Secretary) [Trustee/Director]
- Cindy Cultee (Vice-Chair) [Trustee/Director]
- John Michener (Board Member) [Trustee/Director]
- Marc Taylor (Board Member) [Trustee/Director]
Official website here: www.lummicdfi.org
Where can I find the form 990 for Lummi Community Development Financial Institution?
The Lummi Community Development Financial Institution’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.lummicdfi.org
Learn more at the official website: www.lummicdfi.org
Mission Statement of Lummi Community Development Financial Institution
Lummi Community Development Financial Institution, in its mission, aims to enhance the prosperity and well-being of families by providing them with access to education. To achieve this objective, the organization offers technical assistance and development services, focusing on financial literacy, budgeting, and business plan counseling. Its ultimate goal is to serve as a bridge connecting these individuals and entities to mainstream financing institutions.
In terms of financial services, Lummi Community Development Financial Institution offers collateralized loans to microenterprises and small businesses for working capital and fixed assets. These loans are primarily extended to members of the Lummi Nation, residents of the Lummi Reservation, and other Native Americans or private individuals and entities whose activities can generate social or economic benefits for the Lummi Nation or its residents. By providing these financial resources, the institution aims to support the growth and success of these ventures, ultimately contributing to the overall improvement of the families and communities involved.
Impact
This information is meant to be a general summary of Lummi Community Development Financial Institution. Please take the time to review official sources before making any decisions based upon the content provided here.
Saturday, July 20, 2024
Lummi Community Development Financial Institution's impact is significant in improving the prosperity and well-being of families in the Lummi Tribe and surrounding area. By providing small business loans, access to education, and development opportunities, they contribute to community growth and economic development while ensuring that funds remain within the community for the benefit of the Lummi Tribe. Their focus on financial literacy, budgeting, and business plan counseling serves as a bridge to mainstream financing institutions, enabling individuals and businesses to thrive and contribute to the social and economic advancement of the Lummi Nation and its residents. Through their lending products and services, Lummi Community Development Financial Institution plays a crucial role in fostering community improvement and sustainable growth.
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.
LOAN INTEREST
Revenue
$133,546
SERVICE REVENUE
Revenue
$16,197
Organization Details
Founding Year
2006
Phone
(360) 594-6004
Principal Officer
Rex Rhoades
Main Address
12 BELLWETHER WAY NO 224, BELLINGHAM, WA, 98225
Website
www.lummicdfi.org
NTEE Category
Code: S30 - Community improvement
If you are a representative of Lummi Community Development Financial Institution 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.