Overview
What is Shelton Economic Development Corp?
Shelton Economic Development Corp is a nonprofit organization situated in Shelton, Connecticut, specifically at 25 Brook St STE 203. Their primary goal is to promote economic development within the city, achieving this by facilitating various services such as site studies, map creation, soil testing, and utility improvements. The organization's mission is to enhance the economic development and public welfare of Shelton, aiming to increase employment opportunities and expand businesses and industries for the local citizens. With a modest team of two dedicated individuals, Shelton Economic Development Corp plays a crucial role in fostering the city's growth and prosperity.
Official website here: www.sheltonedc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement, Overall Score: 70%)
The Shelton Economic Development Corp has received a two-star rating from Charity Navigator, indicating a need for improvement, with an overall score of 70%. The organization exhibits strong accountability measures, such as having a majority of independent board members and various essential policies in place. Their program expense ratio is also impressive, demonstrating effective fund allocation towards their primary mission.
Despite these strengths, the organization faces challenges regarding its financial health, as evidenced by a liabilities to assets ratio of 73.56%, which raises concerns about its sustainability and fiscal management. This aspect significantly impacts their overall performance rating, suggesting a need for focused efforts on improving financial stability.
While the nonprofit has implemented solid governance practices and transparency through accessible documentation, addressing its financial liabilities will be crucial for enhancing its rating and overall effectiveness in serving its community.
This AI summary has been generated from information found on Charity Navigator.
Is Shelton Economic Development Corp legitimate?
Shelton Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Shelton 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: $205,987
For more financial information, click here
Official website here: www.sheltonedc.com
What is the mission statement of Shelton Economic Development Corp?
The Shelton Economic Development Corp's mission is centered around advancing economic development and public welfare. They strive to achieve this by increasing employment opportunities and expanding businesses and industries within the community. To facilitate this growth, they offer services such as site studies, map and soil testing, and utility improvements. Their ultimate goal is to enhance the economic well-being of the community's residents.
Official website here: www.sheltonedc.com
Who is the CEO of Shelton Economic Development Corp?
William Partington is the Board Chair of Shelton Economic Development Corp.
Official website here: www.sheltonedc.com
What is the revenue of Shelton Economic Development Corp?
Shelton Economic Development Corp's revenue in 2022 was $513,356.
Official website here: www.sheltonedc.com
Who are the executives of Shelton Economic Development Corp and what are their salaries?
The average compensation at Shelton Economic Development Corp during 2022 was $102,994. There are 2 employees at Shelton Economic Development Corp.
Here are 6 key members and their salaries:
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Official website here: www.sheltonedc.com
Where can I find the form 990 for Shelton Economic Development Corp?
Shelton Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.sheltonedc.com
Learn more at the official website: www.sheltonedc.com
Mission Statement of Shelton Economic Development Corp
Shelton Economic Development Corporation, in its mission, strives to boost the economic growth and public welfare of the city of Shelton. It seeks to expand employment opportunities and encourage the expansion of businesses and industries within the community. To achieve this, the organization undertakes various initiatives such as conducting site studies, mapping, soil testing, and facilitating utility improvements, among others. By doing so, Shelton Economic Development Corporation aims to create a favorable environment for businesses, thereby attracting investment and creating job opportunities for local residents, ultimately contributing to the overall prosperity of the city.
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Impact
July, 2024
Shelton Economic Development Corp plays a significant role in advancing economic development and public welfare in the city of Shelton by increasing employment opportunities and expanding business and industry for its residents. The organization actively promotes economic growth by facilitating site studies, maps, soil testing, utility improvements, and other initiatives. Through its efforts, Shelton Economic Development Corp contributes to the overall community improvement and prosperity of Shelton, CT.
This information is meant to be a general summary of Shelton 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: $33
- Gross Receipts: $513,356
Assets and Liabilities:
- Total Assets: $314,497
- Total Liabilities: $231,373
- Net Assets: $83,124
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Organization Details
Founding Year
1983
Phone
(203) 924-2521Principal Officer
William Partington
Main Address
25 BROOK ST STE 203, SHELTON, CT, 06484
Website
www.sheltonedc.comNTEE Category
Code: S30 - Community improvement
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