Overview
What is Fac Center Local Development Corporation?
The Fac Center Local Development Corporation, located in South Brooklyn, New York, functions as a community hub. Its primary goal is to combat unemployment in the area by enhancing individuals' job skills and improving their employability. To achieve this, the organization offers training programs. Additionally, it strives to attract businesses and agencies from outside the area to relocate or expand, thereby bolstering the local economy. Furthermore, the Fac Center Local Development Corporation works to retain existing businesses and agencies within the community. In essence, its mission is to foster job growth and opportunities in South Brooklyn.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 90% (Four-Star out of Four Star rating)
The Fac Center Local Development Corporation has achieved a commendable rating of 90%, which reflects a strong performance in accountability and finance. This high score is a result of various metrics, with the organization excelling in areas such as having a fully independent board and maintaining a robust financial oversight structure. Key indicators, including a program expense ratio of 99.27%, suggest that the majority of their funds are effectively directed towards their programs.
The organization demonstrates a solid commitment to transparency and governance, highlighted by a full score in conflict of interest policies and document retention practices. Further, the absence of material diversion of assets indicates a reliable stewardship of resources. The board's independence and size also contribute positively to their governance structure, which is crucial for maintaining trust among stakeholders.
However, while the financial metrics are strong, the summary does not provide insights into the specific programs or impact of the organization, which could offer a more rounded view of its effectiveness. Overall, the Fac Center Local Development Corporation appears to operate with strong ethical practices and a focus on maximizing programmatic impact.
This AI summary has been generated from information found on Charity Navigator.
Is Fac Center Local Development Corporation legitimate?
Fac Center Local Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fac Center Local 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Fac Center Local Development Corporation?
The Fac Center Local Development Corporation's mission is centered around reducing unemployment and expanding job opportunities within its community. Serving as a community hub in an unspecified area, this organization aims to equip individuals with improved job skills and enhance their employability. Furthermore, it strives to attract businesses and agencies from outside the area to either relocate or expand within the locality, and retains existing businesses and agencies to strengthen the economic landscape.
Who is the CEO of Fac Center Local Development Corporation?
Dany Cunnigham is the President of Fac Center Local Development Corporation.
What is the revenue of Fac Center Local Development Corporation?
Fac Center Local Development Corporation's revenue in 2022 was $710,334.
Who are the executives of Fac Center Local Development Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $229,758
- Other: $10,667
- 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 Fac Center Local Development Corporation?
Fac Center Local Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fac Center Local Development Corporation
The Fac Center Local Development Corporation, as a community organization, is dedicated to reducing unemployment and expanding job opportunities in the South Brooklyn area. In pursuit of this mission, the organization functions as a local hub, offering training programs to individuals aiming to enhance their job skills and improve their employability. Beyond this, the Fac Center Local Development Corporation endeavors to attract businesses and agencies from outside the area, encouraging them to either relocate or expand within the locality. Additionally, the organization works to retain existing businesses and agencies within the South Brooklyn community.
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Impact
July, 2024
Fac Center Local Development Corporation's impact is significant in the South Brooklyn area, where it plays a key role in reducing unemployment and expanding job opportunities. By serving as a community center that offers training programs to enhance job skills and marketability, the organization directly contributes to boosting employment prospects for individuals in the region. Additionally, Fac Center works to attract businesses and agencies from outside the area to relocate or expand in South Brooklyn, thereby stimulating economic growth and creating more employment opportunities. By retaining local businesses and agencies, the organization also helps in maintaining a sustainable and vibrant economic ecosystem within the community.
This information is meant to be a general summary of Fac Center Local 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
- Program Service Revenue: $710,159
- Gross Receipts: $710,334
Assets and Liabilities:
- Total Assets: $4,397,685
- Total Liabilities: $3,288,365
- Net Assets: $1,109,320
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REMIBURSEMENTS
Revenue
$2,767
RENTAL INCOME
Revenue
$707,392
Organization Details
Founding Year
2004
Phone
(718) 237-2017Principal Officer
Dany Cunnigham
Main Address
621 DEGRAW STREET, BROOKLYN, NY, 11217
NTEE Category
Code: S99 - Community improvement
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