Canandaigua Area Development Corporation

Charity Navigator Rating: 56%, One-Star out of Four Star rating. This rating indicates significant concerns regarding the organization's financial health and transparency. While the Canandaigua Area Development Corporation scores well in several governance metrics, including having a fully independent board and maintaining a conflict of interest policy, its overall financial performance is a critical concern.

The accountability and finance score reflects weaknesses, particularly highlighted by its liabilities-to-assets ratio of 104.24%, suggesting that the organization may have more obligations than assets. This financial instability can pose risks to its sustainability and ability to fulfill its mission effectively. The program expense ratio, however, is strong, indicating that a substantial portion of its expenses is directed towards its programs.

While the organization demonstrates positive practices in governance and transparency, the financial challenges it faces raise important questions for potential donors and stakeholders. Continued monitoring and improvements in financial management will be crucial for the Canandaigua Area Development Corporation to enhance its rating and reliability as a nonprofit entity.

This AI summary has been generated from information found on Charity Navigator.

Canandaigua Area Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Canandaigua Area 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: $0

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