Overview
What is Holly City Development Corporation?
Holly City Development Corporation is a nonprofit organization based in Millville, New Jersey, specifically at 14 E Mulberry Street. Their primary mission is to spearhead the redevelopment of the city center to enhance the quality of life for Millville's residents. They achieve this through various initiatives, including real estate development and redevelopment, housing construction, rehabilitation, and financing. Moreover, they engage in community building and resident engagement, as well as economic development activities. With a modest team of five employees, Holly City Development Corporation is dedicated to revitalizing and improving their community.
What are the reviews and ratings of this charity?
Charity Navigator Rating 94% - Four-Star out of Four Star rating
Holly City Development Corporation has achieved a high rating of 94%, reflecting strong performance in accountability and finance. This score is entirely based on their comprehensive accountability metrics, indicating the organization effectively manages its resources and adheres to best practices in governance.
The organization boasts a fully independent board, showcasing its commitment to transparency and ethical oversight. With a high program expense ratio of nearly 93%, it demonstrates a strong emphasis on channeling funds directly into its programs rather than administrative costs, which is an essential aspect for nonprofits aiming to maximize their impact.
No significant limitations were noted in the data, suggesting that Holly City Development Corporation maintains sound financial practices and robust operational policies. Overall, the organization stands out for its accountability, making it a trustworthy choice for donors and supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Holly City Development Corporation legitimate?
Holly City Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Holly City 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: $126,657
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Holly City Development Corporation?
The Holly City Development Corporation is committed to continuously revitalizing communities through several key areas. These include the development and renovation of real estate, housing construction and renovation, financing for such projects, community building, and engaging with residents. Economic development is also a significant focus of their work. Their mission is to contribute to the improvement of community living standards by aiding in the redevelopment of urban areas, enhancing the quality of life for the residents.
Who is the CEO of Holly City Development Corporation?
Paula Ring is the Secretary of Holly City Development Corporation.
What is the revenue of Holly City Development Corporation?
Holly City Development Corporation's revenue in 2023 was $1,039,071.
Who are the executives of Holly City Development Corporation and what are their salaries?
The average compensation at Holly City Development Corporation during 2023 was $25,331. There are 5 employees at Holly City Development Corporation.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Holly City Development Corporation?
Holly City Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Holly City Development Corporation
Holly City Development Corporation is dedicated to the continuous renewal of communities, focusing on several key areas. These include the development and redevelopment of real estate, housing construction and rehabilitation, financing, community building, resident engagement, and economic development. By engaging in these activities, the organization aims to improve the quality of life for the residents of the communities it serves. Specifically, Holly City Development Corporation has set its sights on the redevelopment of center-city Millville, with the goal of enhancing the living standards of Millville's residents.
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Impact
October, 2024
Holly City Development Corporation significantly impacts the Millville community through its comprehensive approach to continuous community renewal. By focusing on the development and redevelopment of real estate, it enhances the physical environment of the city, improving housing options and fostering vibrant neighborhoods.
The organization emphasizes housing construction, rehabilitation, and financing, thereby addressing the need for quality living spaces and making homeownership more accessible for residents. Through these efforts, it contributes to improved living conditions and increased property values in the area.
Additionally, Holly City Development Corporation prioritizes community building and resident engagement, fostering a sense of belonging and empowerment among local residents. By involving the community in various initiatives, it ensures that development aligns with the residents' needs and aspirations.
Economic development is another crucial area of focus, as the corporation works to stimulate local job creation and support local businesses. This holistic approach not only revitalizes the center city but also promotes sustainability and resilience within the community of Millville, ultimately enhancing the quality of life for its residents.
This information is meant to be a general summary of Holly City 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 2023.
- Investment Income: $76
- Program Service Revenue: $153,819
- Gross Receipts: $1,039,071
Assets and Liabilities:
- Total Assets: $1,444,595
- Total Liabilities: $156,472
- Net Assets: $1,288,123
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$119,167
MISCELLANEOUS REVENUE
Revenue
$4,648
RENTAL INCOME
Revenue
$30,004
Organization Details
Phone
(856) 825-8860Principal Officer
Paula Ring
Main Address
14 E MULBERRY STREET, MILLVILLE, NJ, 08332
NTEE Category
Code: L20 - Housing
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