MINBANC FOUNDATION INC

WASHINGTON, DC | District of Columbia
Economic Development

Overview

MINBANC FOUNDATION INC
51-0386370
1513 P ST NW
WASHINGTON, DC 20005
District of Columbia
(202) 246-9557

Mission Statement info

A PRIVATE FOUNDATION FORMED WITH THE INTENT TO PROVIDE INCREASED OPPORTUNITIES FOR KEY EMPLOYEES IN THE MINORITY BANKING COMMUNITY. MINBANC FOUNDATION OFFERS A UNIQUE AND ESSENTIAL SUPPORT SYSTEM TO BANKS DESIGNATED AS "MINORITY-OWNED" BY THE BANKING REGULATORY AGENCIES BY PROVIDING UP TO $5,000 PER QUALIFY BANK PER YEAR IN TUITION REIMBURSEMENT FOR HIGH LEVEL, BANK-FOCUSED TRAINING.

Founded info
1999
Total Employees info
Not reported
Total Volunteers info
Not reported
CRA Category info
  • Economic Development
Nonprofit location info
  • This nonprofit is not located in any CRA geographies.
Awards & Certifications info
  • This nonprofit has not received any CRA awards or certifications.
Nonprofit Classification (NTEE Code) info
-

Not reported

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
-
Not reported

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
CRA Certification info
Has not applied.
Awards & Certifications info
Community Development Financial Institution info
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$165K
Revenue
-
Assets
$2.4M
Exempt Ruling Date info
2000-06
Deductibility Status info
Deductible
Tax Filing Year info
Not Applicable
Organization Type info
Corporation
Organization Tax Filing Status info
990 - Not required to file (all other)
Foundation Tax Filing Status info
990-PF required by IRS
Affiliation Classification info
Independent Organization
States Where Tax Return is Filed info
Not reported
Basis for Foundation/Public Charity Status info
Private non-operating foundation
IRS Reported Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Nonprofit Location

Physical Address info
1513 P ST NW
WASHINGTON, DC 20005
District of Columbia
FIPS Geocoded Address info
47900
MSA/CBSA info
11
State info
001
County info
0052.01
Tract info
Upper
Income Level info
Core-Based Statistical Area info
Washington-Arlington-Alexandria, DC-VA-MD-WV
Combined Statistical Area info
Washington-Baltimore-Arlington, DC-MD-VA-WV-PA
Metropolitan Division info
Washington-Arlington-Alexandria, DC-VA-MD-WV
Area Type info
Metropolitan Statistical Area
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 28.28%
Designated Distressed Census Tract info
Underserved Census Tract info

Market Data

Census Tract County
0052.01 District of Columbia
Population
Total Population 6,224 692,683
Total Households 4,104 284,386
Income
Median Family Income (Census*) $189,400 $86,420
Median Family Income (2019 FFIEC) $114,700 N/A
Tract Income Percentage 178.5% N/A
Below Poverty Level 7.9% 16.2%
Unemployment Level 2.8% 6.9%
Housing
Total Housing Units 4,473 315,176
Total Owner-Occupied Units 33.2% 41.6%
Total Renter-Occupied Units 58.6% 58.4%
Total Vacant Units 8.2% 7.9%
* Census tract income based on 2019 Census estimated data; County income based on 2019 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

Not reported
Total Voting Members
in Governing Body
info
Not reported
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Rod Alba
(202) 246-9557
Principal Officer info
Not reported by nonprofit.
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Wistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.