Overview
What is University Neighborhoods Development Corporation?
University Neighborhoods Development Corporation (UNDC) is a collaborative nonprofit entity, working closely with architects and the city of Memphis. Their primary goal is to establish a tax increment finance district in the vicinity of the University of Memphis. This project aims to promote student mobility, engage students in community life, and retain local talent in Memphis. UNDC's mission is to foster a vibrant campus and community environment by enhancing the physical and economic infrastructure of the neighborhoods surrounding the university. By doing so, UNDC strives to encourage and strengthen these areas, ultimately improving the overall quality of life for the community.
Official website here: www.undcmemphis.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (69%)
The University Neighborhoods Development Corporation holds a two-star rating from Charity Navigator, indicating that while there are some strengths, there are significant areas for improvement. The organization scores well in having a fully independent board and a strong program expense ratio, with 92.67% of its expenses directed towards programs. This suggests a commitment to delivering impactful services within the community.
However, the organization faces critical shortcomings in its accountability and financial transparency. Key policies, such as conflict of interest, whistleblower protections, and document retention, are missing. Furthermore, financial statements are not publicly available, which raises concerns about the transparency of its financial practices. These gaps contribute to the overall need for improvement in governance and accountability practices.
While the high percentage of independent board members and no reported issues of asset diversion are positive indicators, stakeholders may want to see enhanced policy frameworks and more accessible financial documentation to build trust and ensure responsible stewardship of resources.
This AI summary has been generated from information found on Charity Navigator.
Is University Neighborhoods Development Corporation legitimate?
University Neighborhoods Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. University Neighborhoods 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:
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For more financial information, click here
Official website here: www.undcmemphis.org
What is the mission statement of University Neighborhoods Development Corporation?
University Neighborhoods Development Corporation (UNDC) collaborates with architects and the local city government to establish a tax increment finance district around the University of Memphis. The primary objective of this partnership is to enhance the living experience for students by promoting walkability and integrating them into the community life. UNDC aims to retain talent within Memphis by creating a thriving campus and community environment. This is achieved by improving the physical and economic infrastructure of the neighborhoods surrounding the university, thereby strengthening and fostering their growth. UNDC's mission is to build a vibrant and enriching environment for students and the local community by investing in the development of the surrounding neighborhoods.
Official website here: www.undcmemphis.org
Who is the CEO of University Neighborhoods Development Corporation?
Zach Terhune is the President of University Neighborhoods Development Corporation.
Official website here: www.undcmemphis.org
What is the revenue of University Neighborhoods Development Corporation?
University Neighborhoods Development Corporation's revenue in 2022 was $75,074.
Official website here: www.undcmemphis.org
Who are the executives of University Neighborhoods Development Corporation and what are their salaries?
There 15 volunteers at University Neighborhoods Development Corporation.
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Official website here: www.undcmemphis.org
Where can I find the form 990 for University Neighborhoods Development Corporation?
University Neighborhoods Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.undcmemphis.org
Learn more at the official website: www.undcmemphis.org
Mission Statement of University Neighborhoods Development Corporation
University Neighborhoods Development Corporation (UNDC) works collaboratively with architects and the city of Memphis to establish a tax increment finance district around the University of Memphis. The organization's mission is to enhance the area surrounding the university, promoting a student-friendly environment and fostering a sense of community. By creating this district, UNDC aims to encourage student involvement in local life, retain talent within Memphis, and ultimately build a thriving campus and community environment. This is achieved by improving the physical and economic infrastructure of the surrounding neighborhoods, thereby strengthening the area and attracting further development.
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Impact
August, 2024
University Neighborhoods Development Corporation partners with architects and the city of Memphis to create a tax increment finance district around the University of Memphis area. This project focuses on improving student walkability, engaging students in community life, and retaining talent in Memphis. By enhancing the physical and economic infrastructure of the neighborhoods surrounding the University of Memphis, UNDC is working to build a thriving campus and community environment while encouraging and strengthening these areas. Their efforts contribute to the community's overall improvement and help to create a more vibrant and sustainable environment for all those living and studying in the vicinity.
This information is meant to be a general summary of University Neighborhoods 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: $175
- Gross Receipts: $75,074
Assets and Liabilities:
- Total Assets: $35,798
- Total Liabilities: $0
- Net Assets: $35,798
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Organization Details
Founding Year
2003
Phone
(901) 766-4223Principal Officer
Zach Terhune
Main Address
578 S HIGHLAND ST, MEMPHIS, TN, 381114346
Website
www.undcmemphis.orgNTEE Category
Code: S31 - Community improvement
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