Overview
What is Ocdc Inc?
Ocdc Inc, located in Orange City, Iowa, is a dedicated nonprofit organization with a mission to foster economic growth in its community. They achieve this by promoting public awareness and involvement, supporting small business development, and facilitating access to financial resources and assistance programs. The organization also assists in small business creation by redeveloping existing properties and developing new ones. In addition, Ocdc Inc collaborates with the regional community college to establish and implement professional development programs for new business owners and train potential employees with current job skills. Their ultimate goal is to create the necessary economic pillars to sustain the community's future growth, improve its quality of life amenities, and attract new families and population growth.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (58%)
Ocdc Inc has received a One-Star rating from Charity Navigator, reflecting significant concerns regarding its accountability and financial practices. While the organization boasts a fully independent board and no material diversion of assets, it struggles with critical governance policies that are not in place, such as a conflict of interest policy and whistleblower policy. These deficiencies have adversely affected its overall score, indicating potential risks in transparency and ethical management.
On the positive side, Ocdc Inc demonstrates notable financial strength, exemplified by a program expense ratio of 100%, suggesting that all of its expenses are directed towards its programs rather than administration. This focus is commendable for its mission impact, allowing the charity to operate effectively in its primary objectives. Furthermore, the organization has successfully documented its board meeting minutes and maintained a high level of independent board membership.
Despite these strengths, the absence of essential policies and the high liabilities to assets ratio (65.23%) raises concerns over financial stability and governance practices. Future improvements in these areas could enhance Ocdc Inc's accountability and overall organizational health, allowing it to better serve its mission and gain trust from stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Ocdc Inc legitimate?
Ocdc Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ocdc 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.
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What is the mission statement of Ocdc Inc?
Ocdc Inc's mission is centered around creating a robust economic foundation for community growth and development. This involves enhancing the community's quality of life amenities, expanding the tax base for public services, and establishing a balanced mix of commercial goods and services. To achieve this, Ocdc Inc focuses on fostering new business start-ups with local ownership and expanding existing businesses. This strategy aims to generate new career and job opportunities, attracting new families and contributing to future population growth.
Who is the CEO of Ocdc Inc?
Dave Hughes is the President of Ocdc Inc.
What is the revenue of Ocdc Inc?
Ocdc Inc's revenue in 2022 was $1,405,437.
Who are the executives of Ocdc Inc and what are their salaries?
Here are 14 key members and their salaries:
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Where can I find the form 990 for Ocdc Inc?
Ocdc Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ocdc Inc
Ocdc Inc, a nonprofit organization, is committed to building the economic foundations necessary for the community's future growth and development. Their focus is on improving the community's quality of life amenities, expanding the tax base for public services, and establishing a balanced mix of commercial goods and services. To achieve this, Ocdc Inc targets new business start-ups with local ownership and supports the expansion of existing businesses. This strategic approach will lead to the creation of new career and job opportunities, attracting new families and contributing to future population growth. By fostering local entrepreneurship and business growth, Ocdc Inc aims to establish a strong and sustainable economic base for the community.
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Impact
October, 2024
Ocdc Inc significantly impacts the community by fostering economic growth and enhancing quality of life in Orange City, IA. By focusing on creating robust economic pillars, Ocdc Inc aims to sustain future development, which includes improving public amenities and expanding the tax base to fund essential services.
A critical aspect of their work is supporting small business development. Ocdc Inc facilitates access to financial resources and assistance programs, enabling new startups and helping existing businesses expand. This proactive approach not only stimulates job creation but also attracts new families to the area, contributing to population growth.
Additionally, Ocdc Inc collaborates with the regional community college to provide professional development programs, ensuring that new business owners are well-equipped and prospective employees possess the skills needed in the current job market. Through these initiatives, Ocdc Inc is pivotal in driving community improvement, supporting local entrepreneurship, and creating a sustainable economic environment conducive to growth.
This information is meant to be a general summary of Ocdc 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: $210,446
- Program Service Revenue: $1,055,832
- Gross Receipts: $2,126,079
Assets and Liabilities:
- Total Assets: $11,225,515
- Total Liabilities: $7,322,418
- Net Assets: $3,903,097
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LEASE INCOME
Revenue
$831,001
SALE OF SPEC PROPERTIES
Revenue
$181,361
REFUNDS & REIMBURSEMENTS
Revenue
$43,470
Organization Details
Founding Year
2005
Phone
(712) 737-2030Principal Officer
Dave Hughes
Main Address
113 3RD ST NE, ORANGE CITY, IA, 51041
NTEE Category
Code: S31 - Community improvement
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