Program areas at Poverty Solutions Inc CED Capital
Entrepreneurship Development Training Managed 45 (legal and finance experts) volunteers, who spent 6,315 hours in our Civic Entrepreneurship, Small Business Accounting Seminars, and our Financial Literacy Classes. Capacity Building Technical Assistance: (1) Assisted 61 nonprofits needing accounting, audit and other technical assistance, helping 33 with strategic planning, budgeting, and compliance reviews; (2) Conducted 208 financial needs and technical capacity assessments for community-based nonprofits ? helping 29 of the participants to boost revenue; (3) Assisted 58 small businesses with strategic ?planning; and (4) Conducted 228 bookkeeping and budget projections.
Financial Literacy Hosted 28 Empowerment & Economic Opportunities Workshops Served 17,380 low-income persons needing financial literacy training Homeownership education, and entrepreneurship development.
Assisted 45 low-income families with down-payment assistance and home improvement/rehabilitation loans; Facilitated 97 small business loans as follows: (a) 21 real-estate facilities loans; (b) 19 equipment-loans, (c) 27 business expansion loans including 17 healthy-food expansion into food deserts.
Personnel at Poverty Solutions Inc CED Capital
| Name | Title | Compensation | Date of data |
|---|
| Frank Igwealor | President and Chief Executive Officer | $141,000 | 2024-08-09 |
| Patricia E. Bigay | Community Outreach Manager | | 2021-11-10 |
Financials for Poverty Solutions Inc CED Capital
| Revenues | FYE 12/2023 | FYE 12/2022 | % Change |
|---|
| Total grants, contributions, etc. | $3,524,165 | $6,050 | 58150.7% |
| Program services | $301,500 | $1,450,045 | -79.2% |
| Investment income and dividends | $0 | $0 | - |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $0 | $0 | - |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $0 | $0 | - |
| Total revenues | $3,825,665 | $1,456,095 | 162.7% |
Organizations like Poverty Solutions Inc CED Capital
| Organization | Type | Location | Revenue |
|---|
| Bottomless Closet | 501(c)(3) | New York, NY | $1,097,525 |
| ORC Industries | 501(c)(3) | La Crosse, WI | $1,227,536 |
| Nashville Entrepreneur Center (EC) | 501(c)(3) | Nashville, TN | $3,275,516 |
| Center For Nonprofit Management | 501(c)(3) | Nashville, TN | $2,233,297 |
| St Joseph Financial Services | 501(c)(3) | San Jose, CA | $1,329,397 |
| Small Business Empowerment Center | 501(c)(3) | Saint Louis, MO | $2,537,924 |
| Inquiring Systems | 501(c)(3) | Santa Rosa, CA | $6,271,136 |
| Renaissance Entrepreneurship Center | 501(c)(3) | San Francisco, CA | $5,570,660 |
| Onaben | 501(c)(3) | Tulsa, OK | $1,119,001 |
| Community Economic Development Center of Southeastern Mass | 501(c)(3) | New Bedford, MA | $1,433,095 |
Data update history
July 22, 2023
Posted financials
Added Form 990 for fiscal year 2022
July 3, 2023
Updated personnel
Identified 1 new personnel
June 17, 2023
Posted financials
Added Form 990 for fiscal year 2021
February 3, 2023
Posted financials
Added Form 990 for fiscal year 2020
August 22, 2021
Posted financials
Added Form 990 for fiscal year 2019
Nonprofit Types
Business and community development organizationsFamily service centersCharities
Issues
HealthDiseases and disordersBusiness and industry
Characteristics
Receives government fundingManagement and technical assistanceTax deductible donationsNo full-time employeesAccepts online donations
General information
- Address
- 370 Amapola Ave Ste 200a
- Torrance, CA 90501
- Metro area
- Los Angeles-Long Beach-Anaheim, CA
- County
- Los Angeles County, CA
- Website URL
- povsol.com/Â
- Phone
- (213) 325-3037
IRS details
- EIN
- 27-1916296
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 2008
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S40: Business and Industry
- NAICS code, primary
- 624190: Individual and Family Services
- Parent/child status
- Independent
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