Poverty Solutions Inc.
Poverty Solutions Inc.
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About this organization
Mission
Poverty Solutions designs and deploys programs that empower lowincome to permanently escape poverty through financial capability training
About
P-Solutions matched 175 IDA participants' savings that helped them to become entrepreneurs, purchased their first homes and paid post secondary education tuitions. The matches ranged from $2,000 to $4,000. Additionally, we hosted 26 Empowerment & Economic Opportunities and Financial Literacy Workshops. Lending direct and through wholesale agreements with other lenders (1) Assisted 14 low income families with down payment assistance and home improvement/rehabilitation loans in the amount of $1,206,826 Facilitated 18 small businesses loans. 10 real-estate facilities loans in the total amount of $1,684,408
Interesting data from their 2020 990 filing
The non-profit's aim, as stated in the filing, is “During the year ended 12/31/2018, poverty solutions (p-solutions) successfully served 14,682 low-income persons needing financial education, and entrepreneurship development.”.
When detailing its duties, they were outlined as: “Poverty solutions designs and deploys programs that empower lowincome to permanently escape poverty through financial capability training”.
- The non-profit has complied with legal obligations by reporting their state of operation as CA.
- The non-profit's address in 2020 is noted in the filing as 370 Amapola Ave Ste 200A, Torrance, CA, 90501.
- The non-profit's form for the year 2020 reports a total of 0 employees on their payroll.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is less than $100,000.
- Revenue less expenses is -$716,744.
- The salary policy for the CEO of the organization is established through a review and approval by an impartial party.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 5 independent voting members.
- The organization was formed in 2008.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule O.
- The organization pays $372,119 in salary, compensation, and benefits to its employees.
- The organization pays $1,825 in fundraising expenses.
- The organization provides Form 990 to its governing body.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
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