Overview
What is Franklin County Economic Development Corporation?
Franklin County Economic Development Corporation is a dedicated nonprofit organization situated in Franklin County. Its primary mission involves serving both new and established businesses and industries, with a focus on fostering job creation and retention. This mission is achieved through direct and collaborative funding of various projects, aiming to promote economic growth within the county. The corporation also offers grants to other entities and provides support to local businesses, thereby contributing to the overall economic prosperity of Franklin County.
Official website here: www.franklinida.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Franklin County Economic Development Corporation (FCEDC) has achieved an impressive 96% rating from Charity Navigator, which reflects its strong commitment to accountability and financial health. The rating is based entirely on the organization's Accountability & Finance metrics, indicating that they maintain transparent and responsible financial practices. This high score suggests that FCEDC effectively manages its resources to fulfill its mission.
The organization has demonstrated significant strengths, including a fully independent board of directors, with all eight members meeting the criteria for independence. Additionally, FCEDC has robust financial oversight, with a perfect score for its audit and oversight committee. The organization has also established comprehensive policies regarding conflict of interest, whistleblowing, and document retention, which further exemplify its dedication to ethical governance.
While the data highlights FCEDC’s strengths, there are no noted limitations in the provided information. The organization maintains a strong program expense ratio, with over 95% of its budget allocated to program services, underscoring its efficiency in utilizing funds for developmental initiatives in the community. Overall, FCEDC stands out as a well-managed nonprofit with a solid reputation for accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Franklin County Economic Development Corporation legitimate?
Franklin County Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Franklin County Economic 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $187,312
For more financial information, click here
Official website here: www.franklinida.org
What is the mission statement of Franklin County Economic Development Corporation?
The Franklin County Economic Development Corporation is dedicated to supporting both new and established businesses and industries in their mission. Their primary goal is to contribute to the creation and retention of high-quality job opportunities. They achieve this by providing direct and collaborative funding for various projects, aiming to enhance the economic prosperity of Franklin County. The corporation's activities encompass grant distribution, involvement in Industrial Development Authorities, and offering assistance to businesses and fostering overall economic development in the area.
Official website here: www.franklinida.org
Who is the CEO of Franklin County Economic Development Corporation?
Jeremy Evans is the Chairman of Franklin County Economic Development Corporation. The CEO's salary of Franklin County Economic Development Corporation is $0 and their total compensation is $0.
Official website here: www.franklinida.org
What is the revenue of Franklin County Economic Development Corporation?
Franklin County Economic Development Corporation's revenue in 2022 was $888,839.
Official website here: www.franklinida.org
Who are the executives of Franklin County Economic Development Corporation and what are their salaries?
The average compensation at Franklin County Economic Development Corporation during 2022 was $37,462. There are 5 employees and 8 volunteers at Franklin County Economic Development Corporation.
Here are 9 key members and their salaries (Franklin County Economic Development Corporation's CEO's salary is $0 and their total compensation is $0):
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Official website here: www.franklinida.org
Where can I find the form 990 for Franklin County Economic Development Corporation?
Franklin County Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.franklinida.org
Learn more at the official website: www.franklinida.org
Mission Statement of Franklin County Economic Development Corporation
The Franklin County Economic Development Corporation, as a committed entity, is dedicated to serving both new and existing businesses and industries. Its primary objective is to contribute to the creation and retention of quality jobs within the county by providing direct and collaborative funding for various projects that promote economic growth and prosperity. This nonprofit organization actively works towards enhancing the economic well-being of Franklin County through various initiatives, including grants to other entities, the Industrial Development Authority (IDA), and supporting local businesses in their economic development ventures.
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Impact
October, 2024
The Franklin County Economic Development Corporation plays a significant role in enhancing the economic landscape of Franklin County. By actively supporting both new and existing businesses, the corporation fosters an environment conducive to growth and innovation. Its commitment to creating and retaining quality jobs directly impacts the local workforce, contributing to a stable economic foundation.
Through various programs, including grants and collaborative funding initiatives, the corporation not only assists businesses in their development but also facilitates broader economic development activities that benefit the entire community. This strategic approach ensures that Franklin County continues to thrive economically, ultimately improving the quality of life for its residents. The corporation's efforts promote community improvement, making it a vital player in shaping the future of the region.
This information is meant to be a general summary of Franklin County Economic 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.
- Investment Income: $304
- Program Service Revenue: $71,924
- Gross Receipts: $888,839
Assets and Liabilities:
- Total Assets: $2,712,658
- Total Liabilities: $169,155
- Net Assets: $2,543,503
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST INCOME
Revenue
$63,171
CHARGES FOR SERVICES
Revenue
$8,753
Organization Details
Founding Year
1995
Phone
(518) 483-9472Principal Officer
Jeremy Evans
Main Address
355 WEST MAIN STREET SUITE 428, MALONE, NY, 12953
Website
www.franklinida.orgNTEE Category
Code: S31 - Community improvement
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