Overview
What is Southeastern Connecticut Enterprise Region Corp?
The Southeastern Connecticut Enterprise Region Corp, based in Groton, Connecticut, serves as a significant regional economic development resource. With a vision to stimulate growth and prosperity in Southeastern Connecticut by 2030, their mission is to make the region stronger and more vibrant. Guided by values of supporting clients and communities, diversity and inclusiveness, and accountability, they aim to collaborate with clients and partners, advocate for their services, and reward integrity, teamwork, innovation, and excellence among their employees. The organization operates with a team of 13 individuals, working tirelessly to achieve their mission and vision.
Official website here: www.secter.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Stars)
The Southeastern Connecticut Enterprise Region Corp has received an 88% rating from Charity Navigator, reflecting a solid performance in accountability and finance. The organization boasts a fully independent board, demonstrating strong governance, and exhibits excellent financial practices with a high program expense ratio of 96.91%, indicating that a significant portion of its resources is directed towards its mission.
Despite these strengths, there are areas for improvement noted in the review. The absence of a whistleblower policy and a document retention and destruction policy are highlighted as limitations. Additionally, the organization's tax form is not posted on its website, which could affect transparency and accessibility for stakeholders.
Overall, while the Southeastern Connecticut Enterprise Region Corp demonstrates a commitment to financial integrity and has a strong governance structure, addressing the noted gaps in policy documentation and enhancing transparency could further strengthen its credibility and operational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Southeastern Connecticut Enterprise Region Corp legitimate?
Southeastern Connecticut Enterprise Region Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southeastern Connecticut Enterprise Region Corp 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: $152,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $685,262
For more financial information, click here
Official website here: www.secter.org
What is the mission statement of Southeastern Connecticut Enterprise Region Corp?
The Southeastern Connecticut Enterprise Region Corp aims to serve as the primary regional economic development resource, stimulating growth and prosperity in its area by 2030. Its mission is to make the region stronger and more vibrant, with a focus on supporting and making its clients and communities successful. The organization values collaboration, accountability, diversity, and inclusiveness, believing in rewarding integrity, teamwork, innovation, and excellence within its staff. It is responsive to clients and partners, advocating for its clients and services, and is accountable to all stakeholders financially and professionally.
Official website here: www.secter.org
Who is the CEO of Southeastern Connecticut Enterprise Region Corp?
Sean Nugent is the Chair of Southeastern Connecticut Enterprise Region Corp.
Official website here: www.secter.org
What is the revenue of Southeastern Connecticut Enterprise Region Corp?
Southeastern Connecticut Enterprise Region Corp's revenue in 2023 was $1,855,907.
Official website here: www.secter.org
Who are the executives of Southeastern Connecticut Enterprise Region Corp and what are their salaries?
The average compensation at Southeastern Connecticut Enterprise Region Corp during 2023 was $64,405. There are 13 employees at Southeastern Connecticut Enterprise Region Corp.
Here are 27 key members and their salaries:
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Official website here: www.secter.org
Where can I find the form 990 for Southeastern Connecticut Enterprise Region Corp?
Southeastern Connecticut Enterprise Region Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.secter.org
Learn more at the official website: www.secter.org
Mission Statement of Southeastern Connecticut Enterprise Region Corp
Southeastern Connecticut Enterprise Region Corp, often referred to as SECTER, is committed to serving as the leading regional economic development resource. Their vision is to stimulate growth and prosperity in Southeastern Connecticut by 2030. To achieve this mission, SECTER believes in various fundamental values. They prioritize supporting and contributing to the success of their clients and communities. The organization's board and staff reflect the diverse clientele they serve, and they value their employees, rewarding integrity, teamwork, innovation, and excellence.
SECTER collaborates with and remains responsive to their clients and partners, ensuring accountability both financially and professionally to all stakeholders. They advocate for their clients, their services, and their community, with a strong emphasis on diversity and inclusiveness. The ultimate goal of SECTER is to make Southeastern Connecticut stronger and more vibrant, working tirelessly to stimulate economic growth and development in the region.
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Impact
October, 2024
Southeastern Connecticut Enterprise Region Corp (SECTER) plays a vital role in driving economic growth and enhancing the quality of life in southeastern Connecticut. By acting as a leading regional economic development resource, SECTER is committed to making the region more prosperous and vibrant by 2030.
The organization focuses on supporting clients and communities, ensuring their success through tailored assistance and resource allocation. By fostering collaboration and responsive partnerships, SECTER enables businesses and local stakeholders to thrive. Their commitment to integrity, teamwork, innovation, and excellence is reflected in the professionalism of their staff and the accountability they hold to both clients and community partners.
SECTER champions diversity and inclusiveness in its operations, ensuring that the board and staff are representative of the communities they serve. This approach strengthens their advocacy efforts for clients and services, ultimately contributing to the overall well-being of the region.
Through initiatives like the Procurement Technical Assistance Center program, SECTER provides essential technical assistance that stimulates local economic activity and empowers businesses to reach their full potential. The organization's comprehensive vision and mission are integral to fostering sustainable growth and improving community dynamics, making southeastern Connecticut a stronger and more vibrant place to live and work.
This information is meant to be a general summary of Southeastern Connecticut Enterprise Region Corp. 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 2023.
- Investment Income: $294,120
- Program Service Revenue: $52,114
- Gross Receipts: $1,855,907
Assets and Liabilities:
- Total Assets: $8,711,019
- Total Liabilities: $700,968
- Net Assets: $8,010,051
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN COMMITMENT/SERVICE FEES
Revenue
$52,114
Organization Details
Founding Year
1987
Phone
(860) 437-4659Principal Officer
Sean Nugent
Main Address
19-B THAMES STREET, GROTON, CT, 06340
Website
www.secter.orgNTEE Category
Code: S30 - Community improvement
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