Overview
What is The Local Development Corporation Of Crown Heights?
The Local Development Corporation of Crown Heights, established in November 1987, is a charitable nonprofit organization situated in Brooklyn, New York. Originally formed with the purpose of alleviating unemployment, its mission has since expanded to include providing housing accommodations for low-income individuals and families, as well as supporting the surrounding community through various programs. In 2021, the organization offered training sessions, informational meetings, and individual assistance to residents of Crown Heights and Central Brooklyn, focusing on essential financial concepts such as credit, budgeting, and debt reduction. With around six employees, The Local Development Corporation of Crown Heights continues its mission to uplift and empower the local community.
Official website here: www.ldcch.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56% (One-Star out of Four Stars)
The Local Development Corporation Of Crown Heights received a One-Star rating from Charity Navigator, indicating significant concerns regarding its financial management and transparency. While the organization demonstrates strengths in governance, with a fully independent board and robust policies in place for conflict of interest and whistleblowing, it struggles overall in financial accountability.
The charity's financial indicators raise alarms, particularly with a program expense ratio of only 10.22%, suggesting that a minimal portion of its expenditures is directed towards its programs. In addition, the liabilities to assets ratio is notably low at 3.32%, which likely reflects inefficiencies or underutilization of resources. The absence of the tax form on its website further detracts from transparency and accountability.
Despite these challenges, the Local Development Corporation of Crown Heights maintains a strong governance framework, indicating some level of commitment to ethical management. However, the financial metrics suggest a need for improvement in operational effectiveness to better serve its mission and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is The Local Development Corporation Of Crown Heights legitimate?
The Local Development Corporation Of Crown Heights is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Local Development Corporation Of Crown Heights 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: $179,103
Professional Fundraising Fees: $0
Other Salaries and Wages: $248,961
For more financial information, click here
Official website here: www.ldcch.org
What is the mission statement of The Local Development Corporation Of Crown Heights?
The Local Development Corporation of Crown Heights, established in November 1987, was originally organized as a not-for-profit charitable corporation with the purpose of alleviating and reducing unemployment. Over time, its mission expanded to include providing housing accommodations for individuals and families of low income and operating various programs to support the surrounding community. The corporation continues to strive towards these objectives, aiming to contribute positively to its community's wellbeing and development.
Official website here: www.ldcch.org
Who is the CEO of The Local Development Corporation Of Crown Heights?
Val Henry is the Chairman of The Local Development Corporation Of Crown Heights. The CEO's salary of The Local Development Corporation Of Crown Heights is $172,274 and their total compensation is $179,103.
Official website here: www.ldcch.org
What is the revenue of The Local Development Corporation Of Crown Heights?
The Local Development Corporation Of Crown Heights's revenue in 2022 was $1,270,264.
Official website here: www.ldcch.org
Who are the executives of The Local Development Corporation Of Crown Heights and what are their salaries?
The average compensation at The Local Development Corporation Of Crown Heights during 2022 was $71,344. There are 6 employees and 13 volunteers at The Local Development Corporation Of Crown Heights.
Here are 15 key members and their salaries (The Local Development Corporation Of Crown Heights's CEO's salary is $172,274 and their total compensation is $179,103):
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- Compensation: $172,274
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- Other: $6,829
- Compensation: $116,019
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- Other: $4,550
Official website here: www.ldcch.org
Where can I find the form 990 for The Local Development Corporation Of Crown Heights?
The Local Development Corporation Of Crown Heights's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ldcch.org
Learn more at the official website: www.ldcch.org
Mission Statement of The Local Development Corporation Of Crown Heights
The Local Development Corporation of Crown Heights, established in November 1987, was initially organized as a not-for-profit charitable corporation with a mission to alleviate and decrease unemployment, among other objectives. Over time, its purpose was expanded to include providing housing accommodations for individuals and families of low income, in addition to operating various programs to support the surrounding community. The organization aims to contribute positively to the community by addressing unemployment and housing needs, thereby improving the living standards of its residents.
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Impact
July, 2024
The Local Development Corporation Of Crown Heights has had a significant impact on the Crown Heights and Central Brooklyn community. Since its establishment in 1987, the organization has been dedicated to relieving and reducing unemployment, providing housing accommodations to low-income individuals and families, and supporting various community programs. One of their key initiatives is the provision of training and information sessions on financial literacy, including topics such as credit, budgeting, and debt reduction.
Through their community and social services programs, which are complemented by their financial education initiatives, The Local Development Corporation Of Crown Heights has been able to empower residents of Crown Heights and Central Brooklyn by equipping them with valuable financial knowledge and skills. By offering individual assistance and resources, the organization plays a crucial role in improving the economic well-being and overall quality of life for individuals in these communities.
Overall, The Local Development Corporation Of Crown Heights's impact can be seen in the positive changes and opportunities it creates for residents, contributing to community improvement and empowerment in Brooklyn, NY.
This information is meant to be a general summary of The Local Development Corporation Of Crown Heights. 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: -$25,145
- Program Service Revenue: $1,024,000
- Gross Receipts: $5,039,319
Assets and Liabilities:
- Total Assets: $10,056,426
- Total Liabilities: $334,616
- Net Assets: $9,721,810
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$1,024,000
Organization Details
Founding Year
1987
Phone
(718) 467-8800Principal Officer
Val Henry
Main Address
230 KINGSTON AVENUE, BROOKLYN, NY, 11213
Website
www.ldcch.orgNTEE Category
Code: S200 - Community improvement
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