Overview
What is Binghampton Development Corporation?
The Binghampton Development Corporation is a nonprofit organization situated in Memphis, Tennessee. With a primary focus on the Binghampton community, their mission is to enhance the overall quality of life within this neighborhood. They achieve this goal by supporting the revitalization of Binghampton through initiatives in housing and economic development. This includes various activities aimed at building a healthier and more thriving community.
Official website here: www.bdcmemphis.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 95% (Four-Star out of Four Star rating)
Binghampton Development Corporation has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The organization scores particularly well in areas such as board independence, financial transparency, and adherence to governance policies. The absence of any material diversion of assets and a thorough audit and oversight process underscore its financial integrity.
Strengths include a high program expense ratio of 89.85%, indicating that a significant portion of its budget is directed toward its programs rather than administrative costs. Additionally, the organization boasts a solid working capital ratio, allowing it to sustain its operations effectively over an extended period. These metrics highlight the nonprofit's efficiency in utilizing resources to achieve its mission.
However, the organization faces a notable challenge in fundraising efficiency, with a ratio of $0.01. This indicates that the costs associated with fundraising efforts may be disproportionately high relative to the funds raised. Despite this limitation, the overall financial health and governance practices of Binghampton Development Corporation position it as a responsible and well-managed nonprofit.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Binghampton Development Corporation?
100% of 9 reviewers on Facebook recommend Binghampton Development Corporation. Here is a summary of their reviews:
Reviewers express strong support for the organization, emphasizing the positive impact it has on the community. Many appreciate the initiatives and efforts put forth by the nonprofit, encouraging them to continue their great work. The overall sentiment is highly favorable, reflecting a deep satisfaction with the services provided.
In conclusion, the community clearly values the contributions of Binghampton Development Corporation, highlighting its dedication to making a meaningful difference. The enthusiasm shown in the reviews indicates that the organization is on the right track in fulfilling its mission.
This AI summary has been generated from reviews found on Facebook.
Is Binghampton Development Corporation legitimate?
Binghampton Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Binghampton 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: $75,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $536,108
For more financial information, click here
Official website here: www.bdcmemphis.org
What is the mission statement of Binghampton Development Corporation?
The Binghampton Development Corporation is committed to enhancing the well-being of its community. Their mission is to foster the revitalization of a specific neighborhood, located in Memphis, Tennessee, by focusing on housing and economic development. This initiative aims to ultimately better the lives of the community's residents. The organization strives to build a healthier community, contributing positively to its social and economic fabric.
Official website here: www.bdcmemphis.org
Who is the CEO of Binghampton Development Corporation?
Robert Montague is the Chairman of Binghampton Development Corporation.
Official website here: www.bdcmemphis.org
What is the revenue of Binghampton Development Corporation?
Binghampton Development Corporation's revenue in 2022 was $3,329,941.
Official website here: www.bdcmemphis.org
Who are the executives of Binghampton Development Corporation and what are their salaries?
There 75 volunteers at Binghampton Development Corporation.
Here are 12 key members and their salaries:
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- Compensation: $75,000
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Official website here: www.bdcmemphis.org
Where can I find the form 990 for Binghampton Development Corporation?
Binghampton Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bdcmemphis.org
Learn more at the official website: www.bdcmemphis.org
Mission Statement of Binghampton Development Corporation
Binghampton Development Corporation, a nonprofit organization, is dedicated to enhancing the living standards within its community. Their primary mission is to foster the revitalization of the Binghampton neighborhood in Memphis, Tennessee, by focusing on housing and economic development initiatives. By implementing these strategies, the organization aims to significantly improve the overall quality of life for the community's residents. In a nutshell, Binghampton Development Corporation strives to create a thriving, healthier community by supporting its growth and development in various aspects.
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Impact
October, 2024
Binghampton Development Corporation significantly impacts the Binghampton neighborhood in Memphis, Tennessee, by fostering community improvement and revitalization. Through targeted housing initiatives and economic development projects, the organization enhances the quality of life for residents. By prioritizing sustainable growth and collaboration within the community, it promotes a healthier environment that attracts new businesses while supporting existing local enterprises. Overall, the Binghampton Development Corporation plays a crucial role in transforming the neighborhood, making it a better place to live and work.
This information is meant to be a general summary of Binghampton 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: -$27,134
- Program Service Revenue: $629,463
- Gross Receipts: $3,437,547
Assets and Liabilities:
- Total Assets: $13,924,793
- Total Liabilities: $5,003,355
- Net Assets: $8,921,438
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Gateway Center
Revenue
$439,399
Renovated low-income h
Revenue
$190,064
Organization Details
Founding Year
2003
Phone
(901) 347-0504Principal Officer
Robert Montague
Main Address
PO Box 111447, Memphis, TN, 38111
Website
www.bdcmemphis.orgNTEE Category
Code: S31 - Community improvement
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