Overview
What is Association For Black Economic Power?
The Association for Black Economic Power (Abep) is a nonprofit organization that has been granted community development financial institutions fund certification. Their primary mission is to empower the community by establishing and strengthening a village trust financial cooperative. Abep accomplishes this by providing technical assistance and enhancing the cooperative's capacity. They are also dedicated to preventing and intervening in wealth extraction by advocating for systems change and developing products and services that support generational wealth building and capital access, offering an alternative to predatory financial practices. Abep continues to educate and train the community in their efforts to promote financial empowerment.
Official website here: www.abepmpls.org
Is Association For Black Economic Power legitimate?
Association For Black Economic Power is a legitimate nonprofit organization registered as a 501(c)(3) entity. Association For Black Economic Power 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: $0
Professional Fundraising Fees: $15,913
Other Salaries and Wages: $139,763
For more financial information, click here
Official website here: www.abepmpls.org
What is the mission statement of Association For Black Economic Power?
The Association for Black Economic Power is dedicated to addressing wealth extraction through systemic changes and the creation of alternative opportunities for generational wealth building. This is achieved by developing prevention and intervention models and providing access to capital through the development of products and services. The organization has also obtained the community development financial institutions fund certification and is working on a program to offer technical assistance and enhance the functionality of village trust financial cooperatives, while continuously training the community.
Official website here: www.abepmpls.org
Who is the CEO of Association For Black Economic Power?
Debra L Hurston is the Principal Officer of Association For Black Economic Power.
Official website here: www.abepmpls.org
What is the revenue of Association For Black Economic Power?
Association For Black Economic Power's revenue in 2022 was $500,502.
Official website here: www.abepmpls.org
Who are the executives of Association For Black Economic Power and what are their salaries?
The average compensation at Association For Black Economic Power during 2022 was $34,941. There are 4 employees and 6 volunteers at Association For Black Economic Power.
Here are 7 key members and their salaries:
- Debra Hurston (Executive Director)
- Valerie Geaither (Chair) [Trustee/Director]
- Grover Jones (Treasurer) [Trustee/Director]
- Simone Hardeman-Jones (Secretary) [Trustee/Director]
- Gracie George (Director)
- Ibrahim Owolabi (Director)
- Chaz Sandifer (Director)
Official website here: www.abepmpls.org
Where can I find the form 990 for Association For Black Economic Power?
The Association For Black Economic Power’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.abepmpls.org
Learn more at the official website: www.abepmpls.org
Mission Statement of Association For Black Economic Power
The Association for Black Economic Power, in its mission, aims to combat wealth extraction through systems change. They strive to create and implement prevention and intervention models that address this issue. Their ultimate goal is to develop products and services that offer generational wealth-building opportunities and provide access to capital. This is done as an alternative to traditional, often predatory, culturally incompetent, and inequitable practices.
In addition to this, the organization has received certification as a community development financial institution (CDFI). This certification allows them to develop a program that provides technical assistance and increases the capacity to make village trust financial cooperatives functional. The Association for Black Economic Power continues to train the community in this regard, furthering their mission of economic empowerment.
In summary, the Association for Black Economic Power is committed to addressing wealth extraction and promoting equitable financial practices. They do this by creating and implementing preventive and intervention models, developing wealth-building opportunities, and providing access to capital through their CDFI program. Moreover, they offer technical assistance and community training to make village trust financial cooperatives functional, contributing to the overall financial empowerment of the community.
Impact
This information is meant to be a general summary of Association For Black Economic Power. Please take the time to review official sources before making any decisions based upon the content provided here.
Wednesday, July 24, 2024
Association For Black Economic Power has created prevention and intervention models to address wealth extraction through systems change. They have developed products and services that provide generational wealth-building opportunities and access to capital, offering alternatives to traditional predatory, culturally incompetent, and inequitable practices. Additionally, they have received the community development financial institutions fund certification and are working on a program to provide technical assistance and increase capacity to make Village Trust Financial Cooperative functional. ABEP's ongoing training of the community has had a significant impact on promoting economic empowerment and financial inclusivity in Minneapolis, MN. Their efforts have been instrumental in driving community improvement and fostering a more equitable financial landscape.
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:
Organization Details
Founding Year
2017
Phone
(612) 588-7821
Principal Officer
Debra L Hurston
Main Address
227 COLFAX AVENUE NORTH 30, MINNEAPOLIS, MN, 55405
Website
www.abepmpls.org
NTEE Category
Code: S30 - Community improvement
If you are a representative of Association For Black Economic Power 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.