Overview
What is Norwich Community Development Corporation?
The Norwich Community Development Corporation (NCDC) is a nonprofit organization situated in Norwich, Connecticut, specifically at 66 Franklin Street, 06360. Their primary objective is to foster economic growth and development within the Norwich community. This is achieved through various initiatives, including the expansion and revitalization of the Norwich Business Park, the enhancement of the downtown Norwich area, and the preservation of the historic Norwich Harbor and waterfront. The NCDC recognizes and supports existing industries and commerce, facilitating their expansion, while also encouraging and assisting in the attraction of new developments for the community and the Norwich area. As a testament to their commitment, NCDC manages an $18.9 million, 81,000 square foot building in downtown Norwich, leased for 20 years. The corporation operates with a dedicated workforce of 4 individuals.
Official website here: www.askncdc.com
What are the reviews and ratings of this charity?
77% rating from Charity Navigator indicates that Norwich Community Development Corporation has a Three-Star out of Four Star rating, reflecting a solid performance in accountability and finance. The overall score is derived entirely from a single beacon score, showcasing strengths in governance and financial practices, particularly in terms of board independence and transparency.
The organization scored perfectly in areas such as having an independent board, material diversion of assets, and maintaining comprehensive policies for conflict of interest and whistleblowing. Its program expense ratio is notably high at 92.57%, indicating that the majority of funds are directed towards its mission-driven programs.
However, there are areas for improvement, particularly in the liabilities to assets ratio and fundraising efficiency. The liabilities to assets ratio of 61.51% suggests a moderate level of debt relative to assets, and the fundraising efficiency ratio of $0.002 indicates that the organization may face challenges in generating revenue through fundraising efforts. Overall, while there are some financial concerns, the organization demonstrates strong governance and a commitment to accountability.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Norwich Community Development Corporation?
60% of 22 reviewers on Facebook recommend the Norwich Community Development Corporation. Here is a summary of their reviews:
Many individuals recognize the organization as a valuable management group, particularly for single, identified industrial buildings. Reviewers appreciate their knowledgeable staff, noting that they serve as a helpful resource in navigating which city departments need to be contacted for specific services. However, there is a sentiment that NCDC focuses mainly on projects of direct interest to them, suggesting a limitation in their engagement with broader city needs.
While some find the nonprofit's targeted approach effective, the mixed level of recommendations indicates that opinions vary on its overall impact within the community.
This AI summary has been generated from reviews found on Facebook.
Is Norwich Community Development Corporation legitimate?
Norwich Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norwich Community 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $119,538
Professional Fundraising Fees: $0
Other Salaries and Wages: $111,579
For more financial information, click here
Official website here: www.askncdc.com
What is the mission statement of Norwich Community Development Corporation?
The Norwich Community Development Corporation's mission is centered around stimulating economic growth in its community. This is achieved by fostering the development of the local business park, revitalizing the downtown area, and preserving historical sites such as the harbor and waterfront. The organization recognizes the importance of existing industries and commerce, working to expand them, and actively encourages and assists in attracting new development to benefit the community.
Official website here: www.askncdc.com
Who is the CEO of Norwich Community Development Corporation?
Kevin Brown is the Chairwoman of Norwich Community Development Corporation.
Official website here: www.askncdc.com
What is the revenue of Norwich Community Development Corporation?
Norwich Community Development Corporation's revenue in 2022 was $928,313.
Official website here: www.askncdc.com
Who are the executives of Norwich Community Development Corporation and what are their salaries?
The average compensation at Norwich Community Development Corporation during 2022 was $57,779. There are 4 employees at Norwich Community Development Corporation.
Here are 17 key members and their salaries:
- 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
- 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
- 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
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $55,385
- Related: $0
- Other: $0
Official website here: www.askncdc.com
Where can I find the form 990 for Norwich Community Development Corporation?
Norwich Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.askncdc.com
Learn more at the official website: www.askncdc.com
Mission Statement of Norwich Community Development Corporation
The Norwich Community Development Corporation is dedicated to fostering economic growth and development within the community. Their mission revolves around three key areas: the expansion and development of the Norwich Business Park, the revitalization of the downtown Norwich area, and the preservation of the historic Norwich Harbor and waterfront. This organization recognizes the importance of existing industries and commerce in the area, working to further their expansion. Additionally, Norwich Community Development Corporation actively encourages and assists in attracting new development to benefit the community and the Norwich area as a whole. By focusing on these aspects, the corporation aims to enhance the economic well-being of the community it serves.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Norwich Community Development Corporation plays a vital role in furthering the economic growth and development of the Norwich community. By focusing on the growth and development of the Norwich Business Park, revitalizing the downtown Norwich area, and preserving the historic Norwich Harbor and waterfront, the organization effectively recognizes existing industry and commerce, encourages their expansion, and assists in attracting new development for the benefit of the community and the Norwich area. The ownership of the Mercantile Exchange, an $18.9 million, 81,000 square foot building in downtown Norwich, reflects its commitment to providing strategic spaces for economic activities. Their efforts contribute significantly to community improvement and economic vitality in Norwich, Connecticut.
This information is meant to be a general summary of Norwich Community 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.
- Investment Income: $78
- Program Service Revenue: $420,505
- Gross Receipts: $928,313
Assets and Liabilities:
- Total Assets: $5,168,285
- Total Liabilities: $2,173,207
- Net Assets: $2,995,078
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GENERAL ECONOMIC DEVEL
Revenue
$208,319
MERCANTILE EXCHANGE
Revenue
$140,547
SPECIAL PROJECTS
Revenue
$71,639
Organization Details
Founding Year
1963
Phone
(860) 887-6964Principal Officer
Kevin Brown
Main Address
66 FRANKLIN STREET, NORWICH, CT, 06360
Website
www.askncdc.comNTEE Category
Code: S31Z - Community improvement
If you are a representative of Norwich Community Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.