Overview
What is Monadnock Economic Development Corp?
Monadnock Economic Development Corp is a nonprofit organization situated in Keene, New Hampshire. Their primary focus is on fostering business growth and attractions within the Monadnock region of New Hampshire. Through their promotion efforts, they aim to encourage business development and relocations, contributing to the region's economic prosperity. The organization's mission is deeply rooted in this objective, striving to enhance the Monadnock region's economic landscape.
Official website here: www.monadnock-development.org
What are the reviews and ratings of this charity?
Charity Navigator rating: 81% (Three-Star out of Four Star rating)
Monadnock Economic Development Corp has received a Three-Star rating, reflecting a solid score of 81% based on its accountability and finance metrics. The organization demonstrates a strong commitment to transparency and governance, with a fully independent board and effective oversight mechanisms in place. Their financial management practices, including a high program expense ratio of 91.27%, indicate that a significant portion of their resources is allocated directly to their programs.
The board's structure is commendable, consisting entirely of independent members, which enhances decision-making integrity. Additionally, the organization has implemented key policies, such as conflict of interest and whistleblower protections, which further solidify its accountability framework. The inclusion of meeting minutes and financial statement audits indicates a thorough approach to oversight, reinforcing trust among stakeholders.
While Monadnock Economic Development Corp showcases strong financial health and governance practices, users may want to be aware of the executive director's salary, which is reported to be $90,500. This figure might raise questions about compensation structures within nonprofit organizations, but it does not seem to detract significantly from the overall positive assessment of the organization's accountability and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Monadnock Economic Development Corp legitimate?
Monadnock Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Monadnock Economic Development Corp 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $36,963
For more financial information, click here
Official website here: www.monadnock-development.org
What is the mission statement of Monadnock Economic Development Corp?
The Monadnock Economic Development Corp's mission involves promoting business growth and relocations to the Monadnock region of New Hampshire. Their primary objective is to stimulate economic development in this region. By doing so, they aim to attract new businesses and help existing ones expand, thereby contributing to the region's overall economic prosperity. They work tirelessly to create an environment conducive to business growth, providing necessary resources and support to businesses looking to relocate to the Monadnock region.
Official website here: www.monadnock-development.org
Who is the CEO of Monadnock Economic Development Corp?
George Hansel is the President of Monadnock Economic Development Corp.
Official website here: www.monadnock-development.org
What is the revenue of Monadnock Economic Development Corp?
Monadnock Economic Development Corp's revenue in 2022 was $1,917,108.
Official website here: www.monadnock-development.org
Who are the executives of Monadnock Economic Development Corp and what are their salaries?
Here are 10 key members and their salaries:
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- Compensation: $52,900
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- Compensation: $7,554
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- Other: $2,793
Official website here: www.monadnock-development.org
Where can I find the form 990 for Monadnock Economic Development Corp?
Monadnock Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.monadnock-development.org
Learn more at the official website: www.monadnock-development.org
Mission Statement of Monadnock Economic Development Corp
Monadnock Economic Development Corp, as the name suggests, is dedicated to fostering business growth and facilitating relocations within the Monadnock region of New Hampshire. This nonprofit organization's mission revolves around promoting business development and encouraging businesses to establish their operations in this region. By doing so, Monadnock Economic Development Corp aims to contribute to the economic prosperity of the region and stimulate local economic activity. This mission is carried out through various initiatives and strategies, ultimately leading to a stronger and more vibrant business environment in the Monadnock region.
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Impact
July, 2024
Monadnock Economic Development Corp's impact can be seen in the significant increase in business development and relocations to the Monadnock region of New Hampshire. Their focused efforts have contributed to economic growth, job creation, and overall enhancement of the local community. By actively promoting business opportunities and fostering relocation initiatives, Monadnock Economic Development Corp is instrumental in driving positive change and prosperity in the region.
This information is meant to be a general summary of Monadnock Economic Development Corp. Please take the time to review official sources before making any decisions based upon the content provided here.
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.
- Investment Income: -$152,388
- Program Service Revenue: $1,772,065
- Gross Receipts: $2,706,996
Assets and Liabilities:
- Total Assets: $42,887,115
- Total Liabilities: $44,864,717
- Net Assets: -$1,977,602
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTS
Revenue
$1,617,227
INCOME FROM LOANS
Revenue
$149,838
APPLICATION FEES
Revenue
$5,000
Organization Details
Founding Year
1986
Phone
(603) 352-1000Principal Officer
George Hansel
Main Address
PO BOX 704, KEENE, NH, 03431
NTEE Category
Code: S310 - Community improvement
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