Overview
What is Norcorp Inc?
Norcorp Inc, based in Westbury, New York, serves as a trustee for Northern Westchester Hospital Association. Their primary role involves managing funds and properties on behalf of the association, including rental income. Although their main focus is financial administration, they contribute to the overall operations of the hospital association in some capacity.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, Two-Star out of Four Star rating
Norcorp Inc has received a Two-Star rating from Charity Navigator, reflecting a score of 74%. This rating is based solely on the Accountability & Finance category, indicating that while the organization demonstrates some strong financial practices, there are significant areas for improvement, particularly in governance and transparency.
The organization excels in certain aspects, such as having a strong program expense ratio of 100%, which suggests that all resources are directed towards its programs. Additionally, it has a perfect score for its conflict of interest policy, whistleblower policy, and document retention practices. However, the lack of independent board members and a publicly available tax form are notable weaknesses that impact its overall accountability score.
Overall, while Norcorp Inc shows a commitment to its mission by allocating funds effectively, the absence of independent governance structures raises concerns regarding oversight and transparency. The organization could benefit from boosting its governance practices to improve its rating and ensure better accountability to its stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Norcorp Inc legitimate?
Norcorp Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norcorp 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: $0
For more financial information, click here
What is the mission statement of Norcorp Inc?
Norcorp Inc's primary role is to manage funds, primarily rental income, and hold real or personal property on behalf of the Northern Westchester Hospital Association. This mission is aimed at providing financial and property management services, effectively supporting the operations of the hospital association. Norcorp Inc's activities involve receiving funds and managing their allocation, as well as safeguarding real and personal property for the benefit of the hospital association. This role facilitates the smooth operation of the association, allowing it to focus on its primary medical services.
Who is the CEO of Norcorp Inc?
Michael J Dowling is the Principal Officer of Norcorp Inc.
What is the revenue of Norcorp Inc?
Norcorp Inc's revenue in 2022 was $116,230.
Who are the executives of Norcorp Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $290,513
- Other: $61,418
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Norcorp Inc?
Norcorp Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Norcorp Inc
Norcorp Inc, as outlined in the provided information, is an organization primarily dedicated to serving a specific purpose on behalf of the Northern Westchester Hospital Association. Their mission is twofold: they receive and manage funds, primarily in the form of rental income, and they hold real or personal property on behalf of the association. In essence, Norcorp Inc acts as a trustee, managing assets for the benefit of the Northern Westchester Hospital Association. This role allows the association to focus on its primary healthcare operations, while Norcorp Inc ensures the proper administration and protection of its property and funds.
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Impact
October, 2024
Norcorp Inc plays a vital role in supporting the Northern Westchester Hospital Association by managing real and personal property on its behalf. This organization is instrumental in receiving and administering funds, primarily through rental income, which contributes to the financial stability and operational capacity of the hospital. By holding and managing these assets, Norcorp Inc ensures that the hospital can focus on providing healthcare services to the community, thereby enhancing the quality of life for residents in the region. Additionally, the management of these resources aids in community improvement efforts, underscoring Norcorp’s commitment to supporting local health initiatives and infrastructure.
This information is meant to be a general summary of Norcorp 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 2022.
- Program Service Revenue: $116,230
- Gross Receipts: $116,230
Assets and Liabilities:
- Total Assets: $3,517,600
- Total Liabilities: $1,425,425
- Net Assets: $2,092,175
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$116,230
Organization Details
Founding Year
1984
Phone
(516) 321-6058Principal Officer
Michael J Dowling
Main Address
972 BRUSH HOLLOW RD 5TH FL, WESTBURY, NY, 11590
NTEE Category
Code: S41 - Community improvement
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