Overview
What is Trufund Financial Services Inc?
Trufund Financial Services Inc is a New York-based financial organization situated at 39 West 37th Street, 7th Floor, with a mission to support small businesses and non-profit entities within low-income communities. Historically disadvantaged populations, including minority and women-owned business enterprises, are their primary focus, as they often face challenges in accessing financial services from mainstream institutions. Trufund's activities involve providing financing and technical assistance to these organizations. Their mission aims to foster economic development and uplift underprivileged communities. The company employs a team of 55 individuals dedicated to this purpose.
Official website here: www.trufund.org
Is Trufund Financial Services Inc legitimate?
Trufund Financial Services Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Trufund Financial Services 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: $882,011
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,245,177
For more financial information, click here
Official website here: www.trufund.org
What is the mission statement of Trufund Financial Services Inc?
Trufund Financial Services Inc's mission is focused on promoting economic development in underprivileged communities and among disadvantaged populations. They achieve this by offering financing and technical assistance to small businesses and non-profit organizations. A significant portion of their work involves supporting minority and women-owned businesses and enterprises located within low-income or moderately income communities. Historically, these groups have faced economic disadvantages and limited access to financial institutions. For further information on their mission and initiatives, refer to Schedule O.
Official website here: www.trufund.org
Who is the CEO of Trufund Financial Services Inc?
James Bason is the President - Chief Executive Officer of Trufund Financial Services Inc. The CEO's salary of Trufund Financial Services Inc is $365,554 and their total compensation is $366,266.
Official website here: www.trufund.org
What is the revenue of Trufund Financial Services Inc?
Trufund Financial Services Inc's revenue in 2022 was $16,024,804.
Official website here: www.trufund.org
Who are the executives of Trufund Financial Services Inc and what are their salaries?
The average compensation at Trufund Financial Services Inc during 2022 was $93,222. There are 55 employees and 12 volunteers at Trufund Financial Services Inc.
Here are 20 key members and their salaries (Trufund Financial Services Inc's CEO's salary is $365,554 and their total compensation is $366,266):
- James Bason (President - Chief Executive Officer)
- Michael Vaugh (Svp - Chief Credit Officer)
- Kenneth Harvey (Svp - Director Of Finance)
- Brian Gurski (Svp - Dir Of Strategy & Innovation)
- Aisha Benson (Executive Vice President)
- Robert Benitez (Svp - National Director Of Lending)
- Akimie Carter Evans (Svp - Managing Director Nat'L Marketing)
- Mathew Shapiro (Svp Director Of Resource Development)
- Charlotte Lee (Chairperson) [Trustee/Director]
- Douglas Jackson (Board Member - Retired June 2023) [Trustee/Director]
- Cheri Morial Ausberry (Board Member) [Trustee/Director]
- Celayne Hill (Secretary) [Trustee/Director]
- Carra Wallace (Board Member) [Trustee/Director]
- Ronald Torok (Board Member) [Trustee/Director]
- Terrence Clark (Vice-Chair) [Trustee/Director]
- Dr Adrian Franco (Board Member) [Trustee/Director]
- Marc Thompson Jr (Treasurer) [Trustee/Director]
- Heidi Hamilton (Board Member) [Trustee/Director]
- Carmen Manoyan (Board Member) [Trustee/Director]
- Worley Barker (Board Member) [Trustee/Director]
Official website here: www.trufund.org
Where can I find the form 990 for Trufund Financial Services Inc?
The Trufund Financial Services Inc’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.trufund.org
Learn more at the official website: www.trufund.org
Mission Statement of Trufund Financial Services Inc
Trufund Financial Services Inc, a financial institution, is dedicated to promoting economic development in underserved communities and among disadvantaged populations. Their mission is twofold: providing financing and technical assistance to small businesses and non-profit organizations.
Capitalizing on its expertise, Trufund Financial Services Inc focuses on serving minority and women-owned business enterprises and small businesses situated in low-income or moderate-income communities. Historically, these groups have been economically disadvantaged and disconnected from the mainstream financial sector. By extending financial services to these communities, Trufund Financial Services Inc aims to bridge this gap and foster economic growth.
In pursuit of their mission, Trufund Financial Services Inc prioritizes the needs of underrepresented groups. Their commitment to serving these populations extends beyond just lending; they also offer technical assistance to help businesses thrive. This comprehensive approach allows Trufund Financial Services Inc to make a significant impact in the lives of entrepreneurs and communities that might otherwise face obstacles in accessing essential financial resources.
Impact
This information is meant to be a general summary of Trufund Financial Services Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Trufund Financial Services Inc's impact lies in providing crucial financing and technical assistance to small businesses and non-profit organizations, particularly focusing on minority and women-owned enterprises as well as those located within low or moderate-income communities. By serving historically economically disadvantaged populations and those traditionally disconnected from mainstream financial institutions, Trufund plays a vital role in promoting economic development in underserved communities and among disadvantaged populations. Through its efforts, Trufund contributes directly to community improvement and the empowerment of marginalized entrepreneurs and organizations.
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.
PROGRAM AND PROCESSING FEES
Revenue
$992,906
LOAN INTEREST INCOME
Revenue
$972,448
Organization Details
Founding Year
2005
Phone
(212) 204-1328
Principal Officer
James Bason
Main Address
39 WEST 37TH STREET 7TH FLOOR, NEW YORK, NY, 10018
Website
www.trufund.org
NTEE Category
Code: S30 - Community improvement
If you are a representative of Trufund Financial Services 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.