Overview
What is Greater Dwight Community Investment Corp?
Greater Dwight Community Investment Corp is a 509(a)(3) supporting organization, dedicated to enhancing economic vitality in the economically distressed Greater Dwight community in Connecticut. They achieved this by participating in Coral New Haven Associates II, LLC, a limited liability company, to purchase, finance, lease, manage, and sell a commercial retail site, Dwight Place, which houses a supermarket. The project brought positive cash flow, allowing them to transfer funds to the Greater Dwight Development Corporation (GDDC) for its charitable purposes, thereby generating market-rate jobs and affordable quality food for the community. In addition, they offer management services for the project.
Is Greater Dwight Community Investment Corp legitimate?
Greater Dwight Community Investment Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Dwight Community Investment 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: $0
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What is the mission statement of Greater Dwight Community Investment Corp?
The Greater Dwight Community Investment Corp, functioning as a charitable organization under Section 509(A)(3) of the Code, is committed to enhancing economic vitality in a distressed community. Their activities are geared towards this mission, encompassing various initiatives. One such activity involves participating in Coral New Haven Associates II, LLC, an entity established to purchase, finance, lease, manage, and sell a commercial retail site, including a supermarket (referred to as the Project). They also provide management services for this project and transfer funds to other organizations or the Greater Dwight Development Corporation to further their charitable purposes.
Who is the CEO of Greater Dwight Community Investment Corp?
Linda Townsend Maier is the President of Greater Dwight Community Investment Corp.
What is the revenue of Greater Dwight Community Investment Corp?
Greater Dwight Community Investment Corp's revenue in 2023 was $1,837,052.
Who are the executives of Greater Dwight Community Investment Corp and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $120,113
- Other: $3,023
- 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 Dwight Community Investment Corp?
Greater Dwight Community Investment Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Greater Dwight Community Investment Corp
Greater Dwight Community Investment Corp, as a supporting organization under Section 509(A)(3) of the code, is committed to enhancing economic vitality in the economically distressed Greater Dwight community. Their mission encompasses various charitable activities aimed at this cause. One of their significant undertakings is their membership in Coral New Haven Associates II, LLC, a limited liability company established for purchasing, financing, leasing, managing, and selling a commercial retail site, including a supermarket, in the Greater Dwight community. Beyond this, they provide management services for this project. Furthermore, they transfer funds to the Greater Dwight Development Corporation (GDDC) to support its charitable purposes or to other organizations to perform functions that align with GDDC's 501(C)(3) mission. Overall, Greater Dwight Community Investment Corp plays a vital role in fostering economic growth and development in the distressed Greater Dwight community.
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Impact
October, 2024
Greater Dwight Community Investment Corporation significantly enhances the economic vitality of the Greater Dwight community. By managing and overseeing "Dwight Place," a commercial retail site that includes a supermarket, the organization ensures that residents have access to reasonably priced, quality food options. This initiative not only improves food availability but also creates market-rate job opportunities, contributing to local employment and economic stability.
The impact is further amplified by the organization's ability to generate positive cash flow, allowing for the transfer of $215,618 to the Greater Dwight Development Corporation. This financial support bolsters initiatives aimed at revitalizing the community, thus reinforcing the organization's commitment to uplifting economically distressed areas. Overall, Greater Dwight Community Investment Corporation's activities play a vital role in fostering sustainable growth and community improvement in New Haven, CT.
This information is meant to be a general summary of Greater Dwight Community Investment 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: $18,953
- Program Service Revenue: $1,818,099
- Gross Receipts: $1,837,052
Assets and Liabilities:
- Total Assets: $10,524,320
- Total Liabilities: $7,615,997
- Net Assets: $2,908,323
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$1,818,099
Organization Details
Founding Year
1992
Phone
(203) 777-7374Principal Officer
Linda Townsend Maier
Main Address
230 EDGEWOOD AVENUE, NEW HAVEN, CT, 06511
NTEE Category
Code: S31Z - Community improvement
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