Overview
What is Centerstate Development Foundation Inc?
The Centerstate Development Foundation Inc, based in Syracuse, New York, is a nonprofit organization dedicated to fostering economic growth and community development in the city and its surrounding areas. Their primary activities involve combating urban deterioration by creating and promoting land use plans, offering solutions to urban problems, and encouraging the development of cultural and educational activities. They also conduct studies to identify community health needs and encourage industrial and commercial firms to establish facilities within depressed areas, providing employment opportunities for local residents. The foundation's mission is centered around enhancing the economic vitality of Syracuse and its urban region in Upstate New York.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90%, Four-Star out of Four Star rating.
Centerstate Development Foundation Inc demonstrates a strong commitment to accountability and financial transparency, as evidenced by its 90% score in these areas. The organization has an independent board, scoring a perfect 100% for having eight out of eight members who are not affiliated with the organization, which is a significant strength in governance. Additionally, the foundation is diligent in its financial oversight, as indicated by its robust audit and oversight committee.
The foundation maintains a favorable financial health profile with a program expense ratio of 75.37%, signaling that a substantial portion of its resources is directed toward its programs rather than administrative costs. The organization's liabilities to assets ratio of 14.94% further illustrates its strong financial position, suggesting it manages its obligations effectively.
While the organization exhibits impressive strengths in governance and financial practices, potential supporters and stakeholders may want to consider overall program impact, as this summary focuses primarily on the financial and accountability aspects. Nonetheless, the high rating reflects a well-managed organization committed to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Centerstate Development Foundation Inc legitimate?
Centerstate Development Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Centerstate Development Foundation 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: $132,595
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Centerstate Development Foundation Inc?
The Centerstate Development Foundation Inc's mission is centered around promoting economic development in a city and its surrounding urban area. Its primary objective is to combat urban deterioration by creating and disseminating land use plans, providing solutions to urban problems, and preventing the destruction of existing areas. The foundation also encourages community cultural and educational activities and undertakes studies to identify community health needs. Additionally, it encourages industrial and commercial firms to establish facilities in depressed areas, thereby providing employment opportunities for local residents.
Who is the CEO of Centerstate Development Foundation Inc?
Robert Simpson is the Chair of Centerstate Development Foundation Inc.
What is the revenue of Centerstate Development Foundation Inc?
Centerstate Development Foundation Inc's revenue in 2022 was $1,470,410.
Who are the executives of Centerstate Development Foundation Inc and what are their salaries?
Here are 22 key members and their salaries:
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- Compensation: $116,502
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- Other: $16,093
Where can I find the form 990 for Centerstate Development Foundation Inc?
Centerstate Development Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Centerstate Development Foundation Inc
Centerstate Development Foundation, a nonprofit organization, is dedicated to promoting economic development in an urban area, specifically in Syracuse, New York. Their mission is multifaceted, aimed at combating the deterioration of the city and surrounding areas. They achieve this by developing and disseminating land use plans, offering solutions to urban problem areas, and encouraging the elimination of existing deteriorated areas while preventing the destruction of existing ones.
Beyond physical development, Centerstate Development Foundation also encourages community cultural and educational activities. They undertake studies to identify community health needs, aiming to address these challenges and improve the overall well-being of the area's residents. Furthermore, the foundation encourages industrial and commercial firms to establish their facilities within depressed areas. This initiative provides employment opportunities for local residents, fostering economic growth and vitality in these communities.
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Impact
October, 2024
Centerstate Development Foundation Inc significantly impacts the city of Syracuse and its surrounding areas by addressing urban deterioration and fostering community revitalization. Through the development and dissemination of strategic land use plans, the organization effectively combats the decline of neighborhoods, offering solutions to urban challenges and focusing on the elimination of existing blight.
By encouraging community cultural and educational initiatives, the foundation enhances the quality of life for residents, promoting engagement and learning opportunities that uplift the community. Additionally, the foundation conducts studies to identify community health needs, ensuring that the voices and requirements of local residents are heard and addressed.
The organization plays a crucial role in driving economic development by attracting industrial and commercial firms to set up facilities in economically depressed areas. This effort not only provides job opportunities for local residents but also stimulates overall economic growth in the region. By working collaboratively with stakeholders and leveraging resources, Centerstate Development Foundation Inc creates a more vibrant and sustainable urban environment, ultimately transforming Syracuse into a healthier, more prosperous community.
This information is meant to be a general summary of Centerstate Development Foundation 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.
- Investment Income: $88,777
- Program Service Revenue: $1,381,633
- Gross Receipts: $1,470,410
Assets and Liabilities:
- Total Assets: $3,630,271
- Total Liabilities: $542,498
- Net Assets: $3,087,773
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LM COMMON AREA MAINT C
Revenue
$1,381,633
Organization Details
Founding Year
1981
Phone
(315) 470-1800Principal Officer
Robert Simpson
Main Address
115 WEST FAYETTE STREET, SYRACUSE, NY, 13202
NTEE Category
Code: S31Z - Community improvement
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