Overview
What is Economic Development Growth Enterprises Corporation?
Economic Development Growth Enterprises Corporation (EDGE) is a nonprofit organization situated in Rome, New York. Its primary mission is to enhance and expand business, community, and employment opportunities within Oneida County and its surroundings. This is achieved through various means, including arranging financial packages for local businesses, often in collaboration with local banks, the Small Business Administration, and the Empire State Development Corporation. EDGE additionally prepares economic development plans, conducts research, and implements a unified marketing program to promote overall economic growth in the region. A substantial portion of their revenue is derived from government grants, furthering their mission to improve and expand opportunities in Oneida County.
Official website here: www.mvedge.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating from Charity Navigator.
Economic Development Growth Enterprises Corporation has achieved a commendable Four-Star rating, reflecting its strong performance in accountability and finance. The organization scores 96% in this area, indicating a high level of transparency and effective management of resources. The rating is primarily based on a single beacon score that emphasizes the importance of sound financial practices and governance.
The nonprofit boasts an independent board composition, with 75% of its members being independent, which enhances its accountability. It meets various benchmarks, including having an audit and oversight committee that performs effectively. Additionally, the organization maintains a strong program expense ratio of 88.44%, demonstrating its commitment to using funds for its mission-related activities.
While the organization has a solid financial standing, with a liabilities to assets ratio of 32.64%, the review does not highlight any significant limitations or areas of concern. Overall, the Economic Development Growth Enterprises Corporation presents itself as a responsible and effective nonprofit, dedicated to its economic development goals.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Economic Development Growth Enterprises Corporation?
92% of 9 reviewers on Facebook recommend Economic Development Growth Enterprises Corporation. Here is a summary of their reviews:
While the majority of users express support for the organization, there is a notable critical perspective regarding financial management and transparency. One commenter raised concerns about the handling of taxpayer money, specifically highlighting issues related to a proposed downtown development project that they deem questionable.
Overall, the sentiment leans positive, but there are significant concerns from some individuals about potential mismanagement. This suggests that while many appreciate the services and initiatives offered, there may be underlying issues that warrant further attention from the nonprofit.
This AI summary has been generated from reviews found on Facebook.
Is Economic Development Growth Enterprises Corporation legitimate?
Economic Development Growth Enterprises Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Economic Development Growth Enterprises 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: $520,305
Professional Fundraising Fees: $0
Other Salaries and Wages: $758,368
For more financial information, click here
Official website here: www.mvedge.org
What is the mission statement of Economic Development Growth Enterprises Corporation?
The Economic Development Growth Enterprises Corporation's mission is centered around improving and expanding business, community, and employment opportunities. This mission extends beyond its immediate vicinity, aiming to positively impact a broader area as well. The corporation undertakes various activities to achieve this goal, including arranging financing packages for local businesses through financial institutions like local banks, the Small Business Administration, and the Empire State Development Corporation. Additionally, they prepare economic development plans, conduct research, and execute a unified marketing strategy to advance economic growth in the area. A substantial portion of their revenue comes from government grants, contributing to their mission.
Official website here: www.mvedge.org
What is the revenue of Economic Development Growth Enterprises Corporation?
Economic Development Growth Enterprises Corporation's revenue in 2023 was $8,193,120.
Official website here: www.mvedge.org
Who are the executives of Economic Development Growth Enterprises Corporation and what are their salaries?
The average compensation at Economic Development Growth Enterprises Corporation during 2023 was $75,216. There are 17 employees and 57 volunteers at Economic Development Growth Enterprises Corporation.
Here are 63 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $83,110
- Related: $0
- Other: $9,534
- Compensation: $114,297
- Related: $0
- Other: $21,580
- Compensation: $284,668
- Related: $0
- Other: $29,628
- Compensation: $136,962
- Related: $0
- Other: $42,228
- Compensation: $121,270
- Related: $0
- Other: $32,864
- Compensation: $112,497
- Related: $0
- Other: $14,167
Official website here: www.mvedge.org
Where can I find the form 990 for Economic Development Growth Enterprises Corporation?
Economic Development Growth Enterprises Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mvedge.org
Learn more at the official website: www.mvedge.org
Mission Statement of Economic Development Growth Enterprises Corporation
Economic Development Growth Enterprises Corporation, often referred to as EDGE, is dedicated to enhancing and expanding business, community, and employment opportunities beyond Oneida County, New York. Their mission is multifaceted, aiming to improve and broaden the economic landscape in the area. EDGE accomplishes this through various activities, including arranging financing packages for local businesses, primarily in collaboration with local banks, the Small Business Administration, and the Empire State Development Corporation.
Furthermore, EDGE prepares economic development plans, conducts research, and implements a unified marketing strategy. The ultimate goal is to stimulate economic growth throughout the region. A significant portion of EDGE's revenue comes from government grants, which further underscores its commitment to promoting economic development. In essence, Economic Development Growth Enterprises Corporation serves as a catalyst for business growth and community development, working tirelessly to improve economic opportunities within its sphere of influence.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Economic Development Growth Enterprises Corporation significantly impacts Oneida County, New York, by enhancing business operations, community engagement, and employment opportunities. Through strategic financing packages for local businesses, EDGE collaborates with banks, the Small Business Administration, and the Empire State Development Corporation to stimulate economic activity.
Additionally, EDGE undertakes pivotal research and develops comprehensive economic plans, enabling informed decision-making and fostering sustainable growth in the region. Their unified marketing program effectively promotes the local economy, attracting investment and supporting existing enterprises. By prioritizing community improvement, EDGE contributes to a more vibrant economic landscape, driving development and elevating the quality of life for residents in Oneida County and its surrounding areas.
This information is meant to be a general summary of Economic Development Growth Enterprises 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 2023.
- Investment Income: $22,805
- Program Service Revenue: $5,205,358
- Gross Receipts: $8,304,182
Assets and Liabilities:
- Total Assets: $40,406,038
- Total Liabilities: $12,932,322
- Net Assets: $27,473,716
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PAYMENT IN LIEU OF TAX
Revenue
$3,127,426
SERVICE CONTRACTS
Revenue
$1,822,418
LEASE INCOME
Revenue
$220,000
LOAN INTEREST INCOME
Revenue
$35,514
Organization Details
Founding Year
1963
Principal Officer
Shawna Papale
Website
www.mvedge.orgNTEE Category
Code: S31 - Community improvement
If you are a representative of Economic Development Growth Enterprises Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.