Overview
What is Mohawk Valley Economic Development District Inc?
Mohawk Valley Economic Development District Inc, situated in Mohawk, New York, is a nonprofit organization committed to fostering economic growth in the region. It collaborates with local governments, municipalities, and small businesses, sharing a common objective. The primary mission of this organization is to offer staff support, aiming to expand existing businesses within the region or attract new ones through relocation. With a team of 12 dedicated individuals, Mohawk Valley Economic Development District Inc plays a pivotal role in driving economic development within its community.
Official website here: www.mvedd.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
Mohawk Valley Economic Development District Inc has received an impressive Four-Star rating from Charity Navigator, reflecting its exceptional accountability and financial health. The organization scored 100% in its Accountability & Finance category, indicating a strong commitment to transparency and responsible financial management. This high rating is based on various factors, including the independence of its board members and the absence of material diversion of assets.
The nonprofit boasts a fully independent board, with 100% of its members meeting this criterion, which enhances its governance quality. Additionally, it has a strong program expense ratio of 93.78%, suggesting that a significant portion of its resources is dedicated to programmatic efforts rather than administrative costs. Furthermore, the organization has established comprehensive policies regarding conflict of interest, whistleblower protection, and document retention, all of which contribute to its trusted status.
While the rating highlights many strengths, there are no specific limitations mentioned in the data. Overall, Mohawk Valley Economic Development District Inc presents itself as a well-managed nonprofit, focused on effectively utilizing resources to achieve its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Mohawk Valley Economic Development District Inc legitimate?
Mohawk Valley Economic Development District Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mohawk Valley Economic Development District 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: $96,037
Professional Fundraising Fees: $0
Other Salaries and Wages: $407,339
For more financial information, click here
Official website here: www.mvedd.org
What is the mission statement of Mohawk Valley Economic Development District Inc?
The Mohawk Valley Economic Development District Inc's mission is centered around providing essential staff support to facilitate the expansion or retention of businesses and industrial relocation within the region. Their primary objective is to collaborate with local governments, municipalities, and small businesses, all sharing a common goal of stimulating economic growth. This organization plays a crucial role in supporting the region's economic development efforts.
Official website here: www.mvedd.org
What is the revenue of Mohawk Valley Economic Development District Inc?
Mohawk Valley Economic Development District Inc's revenue in 2023 was $994,565.
Official website here: www.mvedd.org
Who are the executives of Mohawk Valley Economic Development District Inc and what are their salaries?
The average compensation at Mohawk Valley Economic Development District Inc during 2023 was $45,761. There are 11 employees at Mohawk Valley Economic Development District Inc.
Here are 51 key members and their salaries:
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- Compensation: $96,037
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- Other: $26,289
Official website here: www.mvedd.org
Where can I find the form 990 for Mohawk Valley Economic Development District Inc?
Mohawk Valley Economic Development District Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.mvedd.org
Learn more at the official website: www.mvedd.org
Mission Statement of Mohawk Valley Economic Development District Inc
Mohawk Valley Economic Development District Inc is an organization dedicated to supporting the expansion and retention of businesses within its region. Its mission is to provide essential staff assistance, working collaboratively with local governments, municipalities, and small businesses with a shared goal of promoting economic development. By offering comprehensive support, the organization aims to facilitate business relocation within the region, thereby contributing to its overall growth and prosperity.
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Impact
October, 2024
Mohawk Valley Economic Development District Inc plays a crucial role in enhancing regional economic vitality by providing essential staff support to local governments, municipalities, and small businesses. Their focused efforts facilitate the expansion and retention of businesses and industries within the Mohawk Valley, thereby fostering a more robust economic environment.
By working collaboratively with various stakeholders, they aim to streamline processes for business relocation and expansion, ensuring that critical resources are available to support these initiatives. This approach not only bolsters existing businesses but also attracts new investments to the region, ultimately driving job creation and enhancing community development.
Their mission to promote economic growth and resilience is pivotal in strengthening the local economy, ensuring that the Mohawk Valley remains competitive and sustainable in an ever-evolving landscape. Through their initiatives, they contribute significantly to the overall improvement of the community and the quality of life for its residents.
This information is meant to be a general summary of Mohawk Valley Economic Development District 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 2023.
- Investment Income: $1,578
- Program Service Revenue: $428,775
- Gross Receipts: $994,565
Assets and Liabilities:
- Total Assets: $1,949,860
- Total Liabilities: $46,302
- Net Assets: $1,903,558
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMINISTRATIVE FEES
Revenue
$382,971
REV LOAN FUND INTEREST
Revenue
$45,804
Organization Details
Founding Year
1966
Principal Officer
Stephen R Smith
Website
www.mvedd.orgNTEE Category
Code: S430 - Community improvement
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