Overview
What is New Manayunk Corporation?
New Manayunk Corporation, formally known as Manayunk Development Corporation, is a community development organization situated in Philadelphia, Pennsylvania, at 4312 Main Street, 19127. This nonprofit entity was established with the mission of fostering economic growth that benefits the entire community of Manayunk. To accomplish this, they organize and sponsor various community events such as streets festivals, arts festivals, and special events. The purpose behind these events is to stimulate trade, promote community engagement, and enhance the overall condition of the area. With a dedicated workforce of 15 employees, New Manayunk Corporation serves as a driving force for the development and improvement of Manayunk.
Official website here: www.manayunk.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 74%)
The New Manayunk Corporation has received a two-star rating from Charity Navigator, indicating a need for improvement in its organizational practices and financial management. The accountability and finance score of 74% reflects strong governance aspects, such as having a fully independent board and a robust audit and oversight committee. However, there are areas where the organization falls short, particularly in its financial transparency, as evidenced by the missing tax form on its website.
Strengths of the organization include its independent board composition and the effective implementation of policies such as conflict of interest and whistleblower protections. The corporation demonstrates good management in terms of material asset diversion and maintaining proper documentation for board meetings. Nonetheless, the liabilities to assets ratio and program expense ratio suggest that the organization may face challenges in financial sustainability and effective allocation of resources.
Given the significant percentage of liabilities relative to assets, stakeholders may want to closely monitor the organization's financial health. While the corporation exhibits positive governance practices, improving financial transparency and accountability will be essential for enhancing its overall rating and fostering greater trust among donors and the community.
This AI summary has been generated from information found on Charity Navigator.
Is New Manayunk Corporation legitimate?
New Manayunk Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Manayunk 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: $135,368
Professional Fundraising Fees: $0
Other Salaries and Wages: $148,709
For more financial information, click here
Official website here: www.manayunk.com
What is the mission statement of New Manayunk Corporation?
The New Manayunk Corporation serves as a community development corporation, aimed at fostering economic growth that benefits the entire community. Its mission is to encourage and facilitate economic development, striving for the betterment of the community as a whole. To achieve this, the organization incurs expenses for various community events, such as street festivals, arts festivals, and special events. These events are intended to promote trade, stimulate the local economy, and enhance overall community conditions.
Official website here: www.manayunk.com
Who is the CEO of New Manayunk Corporation?
Gwen Mccauley is the Executive Director of New Manayunk Corporation.
Official website here: www.manayunk.com
What is the revenue of New Manayunk Corporation?
New Manayunk Corporation's revenue in 2022 was $1,903,736.
Official website here: www.manayunk.com
Who are the executives of New Manayunk Corporation and what are their salaries?
The average compensation at New Manayunk Corporation during 2022 was $18,938. There are 15 employees and 50 volunteers at New Manayunk Corporation.
Here are 22 key members and their salaries:
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Official website here: www.manayunk.com
Where can I find the form 990 for New Manayunk Corporation?
New Manayunk Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.manayunk.com
Learn more at the official website: www.manayunk.com
Mission Statement of New Manayunk Corporation
New Manayunk Corporation, a community development corporation, was established with a mission to foster economic growth that benefits the entire community of Manayunk. Their primary objective is to encourage sustainable development that enhances the community's trade and living conditions. To achieve this, the organization invests in various community events such as streets festivals, arts festivals, and special events. These events serve as a platform to promote local businesses, attract visitors, and create a vibrant and engaging community environment. By organizing these events, New Manayunk Corporation contributes to the overall economic development and improvement of the community.
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Impact
October, 2024
New Manayunk Corporation plays a pivotal role in enhancing the economic landscape and community spirit of Manayunk, Philadelphia. By organizing various community events such as street festivals, arts festivals, and special gatherings, the organization fosters an environment that stimulates trade and improves local conditions. These activities not only bring residents together, creating a vibrant community atmosphere, but also draw visitors to the area, providing a boost to local businesses. Through its focused efforts on community development, New Manayunk Corporation effectively encourages economic growth that benefits the entire community, ensuring a thriving and engaging environment for all residents and stakeholders.
This information is meant to be a general summary of New Manayunk 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: $1,596
- Program Service Revenue: $1,521,458
- Gross Receipts: $1,903,736
Assets and Liabilities:
- Total Assets: $3,533,398
- Total Liabilities: $2,256,418
- Net Assets: $1,276,980
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PARKING PROGRAM
Revenue
$907,652
EVENTS
Revenue
$390,365
COMMUNITY MAINTENANCE
Revenue
$223,441
Organization Details
Founding Year
1985
Phone
(215) 482-9565Principal Officer
Gwen Mccauley
Main Address
4312 MAIN STREET, PHILADELPHIA, PA, 19127
Website
www.manayunk.comNTEE Category
Code: S310 - Community improvement
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