Overview
What is The Cohoes Local Development Corporation?
The Cohoes Local Development Corporation is a community-focused organization situated in Cohoes, New York. Their primary objective is to stimulate employment opportunities within the city, serving as a catalyst for local economic growth and development. The corporation operates with a mission to facilitate employment, thereby contributing positively to the local workforce and community at large.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 80% (Three-Star out of Four Star rating)
The Cohoes Local Development Corporation has received an 80% rating from Charity Navigator, indicating a solid performance in terms of accountability and financial health. The organization showcases strong governance with a fully independent board, and it maintains no material diversion of assets, which reflects a commitment to ethical management.
Strengths of the organization include a high program expense ratio of 94.30%, suggesting that a significant portion of its resources is directed towards its programs rather than administrative costs. Additionally, essential policies like conflict of interest protocols are in place, enhancing transparency and trustworthiness in their operations.
However, the organization does have areas that require improvement, specifically the absence of a whistleblower policy and a document retention and destruction policy, both of which could pose risks to accountability. Addressing these limitations would further bolster the organization’s credibility and operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is The Cohoes Local Development Corporation legitimate?
The Cohoes Local Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Cohoes Local 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:
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What is the mission statement of The Cohoes Local Development Corporation?
The Cohoes Local Development Corporation, as an urban development organization, is committed to promoting employment within its operational area. Its mission is to facilitate the creation of job opportunities, thereby contributing to the local economy and community development. The corporation's activities are centered around fostering employment opportunities, aiming to enhance the livelihood of the local population. It serves as a catalyst for economic growth by promoting businesses and industries that create job opportunities, thereby contributing to the overall development of the community.
Who is the CEO of The Cohoes Local Development Corporation?
Barbara Hildreth is the Director of The Cohoes Local Development Corporation.
What is the revenue of The Cohoes Local Development Corporation?
The Cohoes Local Development Corporation's revenue in 2022 was $47,777.
Who are the executives of The Cohoes Local Development Corporation and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for The Cohoes Local Development Corporation?
The Cohoes Local Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of The Cohoes Local Development Corporation
The Cohoes Local Development Corporation, as an urban development organization, is dedicated to fostering employment opportunities within the city it serves. Its mission, in its own words, is to 'Facilitate employment within the city of Cohoes.' This mission implies that the corporation is actively involved in creating a conducive environment for employment, potentially through initiatives such as job creation, workforce development, and business support. By focusing on employment, the corporation likely aims to improve the economic well-being of the city and its residents.
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Impact
August, 2024
The Cohoes Local Development Corporation's impact is facilitating employment within the city of Cohoes, NY. Their focus on community improvement is centered around creating opportunities for individuals to find meaningful work within the city, ultimately contributing to economic growth and prosperity for the community.
This information is meant to be a general summary of The Cohoes Local 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: $24,977
- Gross Receipts: $47,777
Assets and Liabilities:
- Total Assets: $428,398
- Total Liabilities: $280
- Net Assets: $428,118
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
GAIN ON SALE OF PROPERTY HELD
Revenue
$17,339
INTEREST ON LOANS
Revenue
$4,435
OTHER
Revenue
$3,203
Organization Details
Founding Year
2002
Phone
(518) 233-2119Principal Officer
Barbara Hildreth
Main Address
97 MOHAWK STREET, COHOES, NY, 12047
NTEE Category
Code: S30 - Community improvement
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