Overview
What is Elwood Community Development Corporation?
The Elwood Community Development Corporation, established in Elwood, IN, is a dedicated nonprofit organization whose primary mission is to stimulate local growth. They achieve this by managing a modern website for numerous local agencies and actively negotiating the acquisition of commercial properties for redevelopment within the community. Furthermore, this organization demonstrates its commitment to the area by donating substantial funds, totaling over $40,000, to local schools, public programs, parks, and various other community initiatives. These contributions aim to enhance the overall quality of life in Elwood, IN, while continuously fostering growth and development within the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (54%)
The Elwood Community Development Corporation has been rated one star by Charity Navigator, indicating significant concerns regarding its financial practices. The overall score is primarily based on the Accountability & Finance category, where it scored 54%. While the organization demonstrates strengths in governance, such as having a majority of independent board members and various policies in place, the low score can be attributed to a concerning liabilities to assets ratio and a low program expense ratio.
The accountability measures in place, including a conflict of interest policy and whistleblower policy, are commendable, as they reflect a commitment to transparency and ethical operations. However, the financial figures suggest that the organization may not be allocating sufficient resources toward its programs, which raises questions about its overall effectiveness in fulfilling its mission.
In summary, while the Elwood Community Development Corporation has established strong governance practices, the alarming financial metrics highlight significant limitations that potential donors and stakeholders should consider. The low program expense ratio implies that the organization may struggle to achieve its goals effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Elwood Community Development Corporation legitimate?
Elwood Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Elwood Community 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: $6,890
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,454
For more financial information, click here
What is the mission statement of Elwood Community Development Corporation?
The Elwood Community Development Corporation promotes local development by taking several initiatives. One of their key activities is maintaining a new website for various local agencies, aiming to facilitate information exchange and connectivity within the community. Additionally, they engage in property negotiations, specifically focusing on the purchase of local commercial properties for redevelopment. The corporation demonstrates its commitment to community enhancement by donating substantial funds to various programs, including school initiatives, public events, parks, and other worthy causes. These contributions aim to enhance the overall quality of life in the community and foster growth within it.
Who is the CEO of Elwood Community Development Corporation?
Marcy Fry is the Executive Director of Elwood Community Development Corporation.
What is the revenue of Elwood Community Development Corporation?
Elwood Community Development Corporation's revenue in 2022 was $47,679.
Who are the executives of Elwood Community Development Corporation and what are their salaries?
The average compensation at Elwood Community Development Corporation during 2022 was $7,672. There are 2 employees and 6 volunteers at Elwood Community Development Corporation.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Elwood Community Development Corporation?
Elwood Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Elwood Community Development Corporation
Elwood Community Development Corporation, as its name suggests, is dedicated to fostering local development in a proactive manner. This nonprofit organization accomplishes this mission by maintaining a user-friendly website for various local agencies. This digital platform serves as a central hub, providing easy access to information and resources for the community.
Beyond digital initiatives, Elwood Community Development Corporation also actively participates in the physical development of the area. It achieves this by negotiating the purchase of commercial properties within the community and overseeing their subsequent redevelopment. This strategic approach not only revitalizes the local landscape but also creates opportunities for new businesses and employment.
Moreover, Elwood Community Development Corporation demonstrates its commitment to the community by donating substantial funds to various local programs. These funds support educational initiatives in schools, public programs, and projects related to parks and community improvement. By investing in these areas, the corporation seeks to enhance the quality of life for its residents while encouraging sustainable growth and development.
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Impact
August, 2024
Elwood Community Development Corporation's impact is significant in fostering local development in Elwood, IN. It has facilitated the creation of a new website for various local agencies and successfully negotiated the purchase of commercial properties for redevelopment projects. Additionally, the organization has made substantial contributions, totaling over $40,000, to support local school programs, public initiatives, parks, and other community causes. These efforts have not only enhanced the quality of life in Elwood but have also played a crucial role in driving growth and progress in the community.
This information is meant to be a general summary of Elwood Community 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: $10,559
- Gross Receipts: $47,679
Assets and Liabilities:
- Total Assets: $1,376,382
- Total Liabilities: $142,398
- Net Assets: $1,233,984
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Organization Details
Founding Year
2004
Principal Officer
Marcy Fry
Main Address
108 SOUTH ANDERSON STREET, ELWOOD, IN, 460362013
NTEE Category
Code: S30 - Community improvement
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