Overview
What is Greater Jamaica Local Development Company Inc?
Greater Jamaica Local Development Company Inc is a nonprofit organization situated in Queens County, New York, specifically catering to the 114xx and 116xx zip codes within the area or Queens itself. Their primary mission is to extend loans to commercially viable prospects who have struggled to secure financing from conventional lenders. They frequently collaborate with other financial institutions to finance projects that exceed their individual capacities. This company plays a crucial role in bridging the financing gap in the local business community within Queens County, New York.
Official website here: www.gjdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
Greater Jamaica Local Development Company Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The charity scored 96%, indicating a high level of transparency and effective management of resources. With a focus on financial oversight, the organization employs a fully independent board and has put in place rigorous policies to ensure ethical operations.
The organization stands out for its excellent management practices, with 100% of its board members being independent. It has also excelled in various financial metrics, maintaining a low liabilities to assets ratio and a high program expense ratio of nearly 96%. This suggests that the majority of its funds are directed toward programs rather than administrative costs, demonstrating a commitment to its mission.
Despite the positive rating, the summary does not mention any specific limitations or areas for improvement, indicating that the organization is currently performing well in its operational and financial practices. Overall, Greater Jamaica Local Development Company Inc's high rating reflects its effective governance and financial health, positioning it as a trustworthy nonprofit in its field.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Jamaica Local Development Company Inc legitimate?
Greater Jamaica Local Development Company Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Jamaica Local Development Company 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $198,265
For more financial information, click here
Official website here: www.gjdc.org
What is the mission statement of Greater Jamaica Local Development Company Inc?
The Greater Jamaica Local Development Company Inc's mission is centered around providing financial aid to eligible commercial ventures that have struggled to secure funding from conventional lenders. The company often collaborates with other financial institutions to finance projects beyond their individual capabilities. Their primary focus is on supporting businesses in Queens County, New York, specifically the areas with the zip codes 114xx and 116xx, or simply within Queens itself. The company's objective is to extend financial assistance to those in need, thereby contributing to the growth and development of the local commercial sector.
Official website here: www.gjdc.org
Who is the CEO of Greater Jamaica Local Development Company Inc?
Justin Rodgers is the CEO of Greater Jamaica Local Development Company Inc The CEO's salary of Greater Jamaica Local Development Company Inc is $0 and their total compensation is $342,485.
Official website here: www.gjdc.org
What is the revenue of Greater Jamaica Local Development Company Inc?
Greater Jamaica Local Development Company Inc's revenue in 2023 was $593,689.
Official website here: www.gjdc.org
Who are the executives of Greater Jamaica Local Development Company Inc and what are their salaries?
There 30 volunteers at Greater Jamaica Local Development Company Inc.
Here are 39 key members and their salaries (Greater Jamaica Local Development Company Inc's CEO's salary is $0 and their total compensation is $342,485):
- Compensation: $0
- Related: $291,195
- Other: $51,290
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- Other: $38,167
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- Related: $182,699
- Other: $35,392
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- Related: $117,164
- Other: $31,143
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- Related: $158,111
- Other: $14,695
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Official website here: www.gjdc.org
Where can I find the form 990 for Greater Jamaica Local Development Company Inc?
Greater Jamaica Local Development Company Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.gjdc.org
Learn more at the official website: www.gjdc.org
Mission Statement of Greater Jamaica Local Development Company Inc
Greater Jamaica Local Development Company, a nonprofit organization, is dedicated to providing financial assistance to commercial prospects who have been unsuccessful in securing funding from conventional lenders. Typically, the organization collaborates with other financial institutions to finance projects that exceed their individual capabilities. The company's focus is on qualified businesses located within Queens County, New York, specifically in the 114xx and 116xx zip codes, or within Queens itself. By offering loans, Greater Jamaica Local Development Company aims to bridge the financing gap for businesses that might otherwise struggle to grow or operate effectively. The organization's mission is to contribute to the economic development and vitality of the local community by providing much-needed financial support to qualified commercial prospects.
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Impact
July, 2024
Greater Jamaica Local Development Company Inc has a significant impact on the economic development and community improvement in Queens County, New York. By offering loans to qualified commercial prospects who have struggled to obtain financing from traditional lenders, the organization plays a vital role in supporting local businesses and entrepreneurs. Their participation in financing projects that exceed the capabilities of other lending institutions further showcases their commitment to fostering growth and development in the region. With a focus on the 114xx and 116xx zip codes within Queens County, Greater Jamaica Local Development Company Inc directly contributes to the economic vitality and success of the local community.
This information is meant to be a general summary of Greater Jamaica Local Development Company 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 2023.
- Investment Income: $2,867
- Program Service Revenue: $104,372
- Gross Receipts: $593,689
Assets and Liabilities:
- Total Assets: $4,516,114
- Total Liabilities: $256,230
- Net Assets: $4,259,884
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST ON LOANS
Revenue
$104,372
Organization Details
Founding Year
1979
Principal Officer
Justin Rodgers
Website
www.gjdc.orgNTEE Category
Code: S31Z - Community improvement
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