Overview
What is Greater Lake City Community Development Corp Inc?
Greater Lake City Community Development Corp Inc, situated in Lake City, Florida, is a nonprofit organization with a focus on community improvement and affordable housing. With a mission aligned with educational, scientific, and socio-economic development, as well as community revitalization, the corporation has successfully revitalized local areas and provides housing solutions for individuals in need. Their efforts are consistent with the not-for-profit sector, contributing positively to their community's well-being with a team of just two dedicated individuals.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement)
The Greater Lake City Community Development Corp Inc has received a rating of 73% from Charity Navigator, indicating a need for improvement in its overall performance. The organization is noted for having a fully independent board, which is a strong point in terms of governance. Furthermore, it demonstrates a commitment to transparency by documenting board meeting minutes and maintains a favorable liabilities to assets ratio.
However, while the organization excels in certain financial metrics, such as a high program expense ratio of 97.78%, the overall two-star rating suggests room for growth in areas that may impact its operational effectiveness or outreach. Adopting best practices in additional areas could enhance its overall impact and community trust. The rating reflects the balance between commendable governance and the need for improvements in other performance aspects.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Lake City Community Development Corp Inc legitimate?
Greater Lake City Community Development Corp Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Lake City Community Development Corp Inc 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: $18,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Greater Lake City Community Development Corp Inc?
Greater Lake City Community Development Corp Inc is organized with a mission to serve educational, scientific, and socio-economic needs, as well as contribute to community revitalization. This organization's activities are not limited to these areas and can encompass any matters that align with its non-profit status. Its primary goal is to revitalize communities and provide affordable housing for individuals in need.
Who is the CEO of Greater Lake City Community Development Corp Inc?
Lester Mckellum is the Executive Director of Greater Lake City Community Development Corp Inc.
What is the revenue of Greater Lake City Community Development Corp Inc?
Greater Lake City Community Development Corp Inc's revenue in 2021 was $170,318.
Who are the executives of Greater Lake City Community Development Corp Inc and what are their salaries?
The average compensation at Greater Lake City Community Development Corp Inc during 2021 was $9,000. There are 2 employees at Greater Lake City Community Development Corp Inc.
Here are 7 key members and their salaries:
- Compensation: $10,200
- Related: $0
- Other: $0
- Compensation: $7,800
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Greater Lake City Community Development Corp Inc?
Greater Lake City Community Development Corp Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Greater Lake City Community Development Corp Inc
Greater Lake City Community Development Corp Inc, as a nonprofit organization, is dedicated to serving various educational, scientific, and socio-economic needs within the community. Its purpose is to promote community revitalization and engage in any other activities that align with its nonprofit status. The corporation's mission is to contribute to the betterment of the community by addressing various matters and fostering an environment that supports its growth and development. Greater Lake City Community Development Corp Inc has demonstrated its commitment to this mission by successfully revitalizing certain areas of the community and providing affordable housing solutions for individuals in need.
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Impact
October, 2024
Greater Lake City Community Development Corp Inc has made significant strides in revitalizing local communities and addressing housing needs in Lake City, Florida. By focusing on educational, scientific, and socio-economic initiatives, the organization has successfully transformed areas within the community, enhancing the quality of life for residents. One of its key accomplishments includes providing low-income housing to individuals and families, ensuring that those in need have access to safe and stable living conditions. This commitment to community revitalization not only improves housing standards but also fosters a stronger, more connected community. Through its efforts, Greater Lake City Community Development Corp Inc continues to play a vital role in the social and economic fabric of the area.
This information is meant to be a general summary of Greater Lake City Community Development Corp Inc. 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 2021.
- Investment Income: $10
- Program Service Revenue: $60,470
- Gross Receipts: $170,318
Assets and Liabilities:
- Total Assets: $698,810
- Total Liabilities: $383,232
- Net Assets: $315,578
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Housing Rental
Revenue
$60,470
Organization Details
Founding Year
2002
Principal Officer
Lester Mckellum
Main Address
363 NW BASCOM NORRIS DRIVE, LAKE CITY, FL, 32055
NTEE Category
Code: L80 - Housing
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