Overview
What is Rockingham Economic Development Corp?
Rockingham Economic Development Corp, also known as the Regional Economic Development Center of Southern New Hampshire, is a nonprofit organization established in Raymond, New Hampshire. Located at 57 Main Street, this corporation is committed to fostering economic growth and creating employment opportunities primarily for low and moderate-income individuals. They achieve this goal by utilizing their revolving loan fund. The organization's mission is to support and promote the economic stability and development in Rockingham County and part of Hillsborough County, contributing to the overall growth and prosperity of the region. With a team of 16 dedicated employees, Rockingham Economic Development Corp plays a crucial role in strengthening local communities.
Official website here: www.redc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 92% - Four-Star out of Four Star rating
The Rockingham Economic Development Corp has achieved a commendable Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial management. The rating is based entirely on their exceptional performance in the Accountability & Finance category, where they scored 92%. This score indicates that the organization manages its financial resources effectively and adheres to best practices in transparency.
Key strengths of the organization include a fully independent board, with 100% of its members not affiliated with the organization, enhancing governance integrity. They also maintain rigorous financial oversight, evidenced by their high scores in the audit and oversight category and a solid program expense ratio of 77.78%. This suggests that a significant portion of their budget is directed towards fulfilling their mission.
While the data reflects strong financial health and governance, there are no specific limitations noted. The organization appears to be effectively utilizing its resources and maintaining high standards of accountability, positioning it well within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Rockingham Economic Development Corp legitimate?
Rockingham Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rockingham 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: $497,733
Professional Fundraising Fees: $0
Other Salaries and Wages: $680,804
For more financial information, click here
Official website here: www.redc.com
What is the mission statement of Rockingham Economic Development Corp?
The Rockingham Economic Development Corp's mission is centered around supporting and advocating for the economic stability and development in a specific region, encompassing parts of Rockingham and Hillsborough Counties. Their primary goal is to foster employment opportunities, with a particular focus on benefiting individuals from lower and moderate income backgrounds. They achieve this objective by utilizing their revolving loan fund, which is a tool for promoting economic growth.
Official website here: www.redc.com
Who is the CEO of Rockingham Economic Development Corp?
Scott Zeller is the Chairman of Rockingham Economic Development Corp.
Official website here: www.redc.com
What is the revenue of Rockingham Economic Development Corp?
Rockingham Economic Development Corp's revenue in 2023 was $2,388,683.
Official website here: www.redc.com
Who are the executives of Rockingham Economic Development Corp and what are their salaries?
The average compensation at Rockingham Economic Development Corp during 2023 was $73,659. There are 16 employees and 40 volunteers at Rockingham Economic Development Corp.
Here are 11 key members and their salaries:
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- Compensation: $267,500
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- Compensation: $155,385
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- Other: $37,380
Official website here: www.redc.com
Where can I find the form 990 for Rockingham Economic Development Corp?
Rockingham Economic Development Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.redc.com
Learn more at the official website: www.redc.com
Mission Statement of Rockingham Economic Development Corp
Rockingham Economic Development Corporation, in its mission, seeks to bolster and foster economic stability and advancement in Rockingham County and a portion of Hillsborough County. This nonprofit organization is dedicated to creating employment opportunities, primarily for individuals with lower and moderate incomes, through strategic use of its revolving loan fund. By promoting economic growth, Rockingham Economic Development Corporation aims to contribute positively to the community, ultimately benefiting its residents.
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Impact
July, 2024
Rockingham Economic Development Corp's impact is clearly visible in the economic stability and growth of Rockingham County and parts of Hillsborough County. Through the promotion of economic development and the creation of employment opportunities, the organization plays a crucial role in supporting the local community. Its revolving loan fund specifically targets the creation of jobs for low and moderate-income individuals, contributing to a more inclusive and prosperous local economy. The efforts of Rockingham Economic Development Corp ultimately lead to tangible improvements in the overall well-being of the community, making a significant impact on the lives of residents in the area.
This information is meant to be a general summary of Rockingham 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 2023.
- Investment Income: $12,522
- Program Service Revenue: $797,396
- Gross Receipts: $2,388,683
Assets and Liabilities:
- Total Assets: $17,997,679
- Total Liabilities: $5,392,173
- Net Assets: $12,605,506
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Other N/R Interest
Revenue
$365,340
RLF N/R Interest
Revenue
$197,725
IRP N/R Interest
Revenue
$129,454
Application Fees
Revenue
$25,452
Recovery of Bad Debt
Revenue
$7,348
Organization Details
Founding Year
1994
Phone
(603) 772-2655Principal Officer
Scott Zeller
Main Address
57 Main Street, Raymond, NH, 03077
Website
www.redc.comNTEE Category
Code: S30Z - Community improvement
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