Overview
What is Valley Shenango Economic Development Corporation?
The Valley Shenango Economic Development Corporation is a nonprofit organization based in Sharon, Pennsylvania, situated at 32 W State St. Their primary goal is to stimulate economic growth in a deprived area by leasing space to businesses. Specifically, they aim to attract companies to the Winner Industrial Park and renovate the former Westinghouse property. By providing businesses with operational spaces, the organization contributes to job creation in Sharon, PA.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Stars)
Valley Shenango Economic Development Corporation has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. With a score of 79%, the organization exhibits a strong commitment to transparency and responsible financial practices. The evaluation reflects a thorough assessment of the organization’s financial management and governance structures.
The nonprofit excels particularly in its governance, boasting a fully independent board of directors with no material diversion of assets. It has also implemented key policies such as a conflict of interest policy and a whistleblower policy, which contribute to a culture of accountability. Additionally, the organization reports an impressive program expense ratio of 99.36%, suggesting that a significant portion of its funds is directed towards its mission-related activities.
While the rating is generally favorable, the overall score is based solely on the Accountability & Finance category, with no assessment of other potential impact indicators, such as program outcomes or community engagement. This limitation means that while the organization demonstrates strong financial stewardship, there may be additional qualitative aspects of its work that are not captured in this rating.
This AI summary has been generated from information found on Charity Navigator.
Is Valley Shenango Economic Development Corporation legitimate?
Valley Shenango Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Valley Shenango Economic Development Corporation 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.
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What is the mission statement of Valley Shenango Economic Development Corporation?
The Valley Shenango Economic Development Corporation serves as a not-for-profit entity focused on economic development. Its primary goal is to attract businesses to a specific industrial park and renovate a former Westinghouse property. The organization's mission is to lease space to companies, particularly in a depressed area, with the aim of creating job opportunities. By leasing space to businesses, the Valley Shenango Economic Development Corporation contributes to the growth and revitalization of the local economy.
Who is the CEO of Valley Shenango Economic Development Corporation?
Charles Miller is the Chairman of Valley Shenango Economic Development Corporation.
What is the revenue of Valley Shenango Economic Development Corporation?
Valley Shenango Economic Development Corporation's revenue in 2022 was $799,319.
Who are the executives of Valley Shenango Economic Development Corporation and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Valley Shenango Economic Development Corporation?
Valley Shenango Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Valley Shenango Economic Development Corporation
Valley Shenango Economic Development Corporation is a not-for-profit organization with a mission to stimulate business growth in a depressed area. They achieve this by leasing space to companies, thereby creating job opportunities. This economic development corporation is committed to attracting businesses to the Winner Industrial Park and renovating the former Westinghouse property. By providing businesses with space, Valley Shenango Economic Development Corporation contributes to the economic revitalization of the area, providing a much-needed boost to the local job market.
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Impact
July, 2024
Valley Shenango Economic Development Corporation's impact lies in attracting businesses to the Winner Industrial Park and renovating the former Westinghouse property in Sharon, PA. By leasing space to companies in this area, the organization is actively working to create jobs and improve the economic conditions in a previously depressed area. Through its efforts, Valley Shenango Economic Development Corporation is directly contributing to community improvement by fostering economic growth and development in Sharon, PA.
This information is meant to be a general summary of Valley Shenango Economic Development Corporation. 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.
- Program Service Revenue: $197,819
- Gross Receipts: $799,319
Assets and Liabilities:
- Total Assets: $6,251,673
- Total Liabilities: $5,614,009
- Net Assets: $637,664
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$197,819
Organization Details
Founding Year
2003
Phone
(724) 981-1152Principal Officer
Charles Miller
Main Address
32 W STATE ST, SHARON, PA, 16146
NTEE Category
Code: S30 - Community improvement
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