Overview
What is Ironbound Business Improvement District Management Corporation?
The Ironbound Business Improvement District Management Corporation, based at 76 Prospect Street, 2nd Floor, Newark, NJ 07105, is a charitable and educational nonprofit organization, operating under Section 501(c)(3) of the Internal Revenue Code. Established as the district management corporation for the Ironbound Special Improvement District, their primary mission is to enhance and improve the area, providing various community services, public relations, and street cleaning. As a Special Improvement District (SID) corporation, they aim to serve the Ironbound area, contributing to its development and betterment. With a small team of dedicated employees, they strive to contribute positively to the local community.
Official website here: www.goironbound.com
What are the reviews and ratings of this charity?
Charity Navigator Rating 92% - Four-Star out of Four Star rating
The Ironbound Business Improvement District Management Corporation has achieved a strong 92% rating, reflecting its commitment to accountability and financial integrity. This rating is derived solely from its exceptional performance in the Accountability & Finance category, showcasing the organization’s effective management of resources and transparency in operations.
Strengths noted include a fully independent board, with all members meeting the criteria for independence, and a solid financial structure highlighted by a 0.00% liabilities to assets ratio. The organization's program expense ratio is commendable at 79.59%, indicating that a significant majority of its funds are directed toward its programs rather than administrative costs.
However, there is a noted limitation regarding the absence of a whistleblower policy, which could be a point of concern for stakeholders seeking assurance on governance practices. Despite this, the organization maintains strong financial oversight and has no material diversion of assets, affirming its reliability as a nonprofit entity.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Ironbound Business Improvement District Management Corporation?
88% of 520 reviewers on Facebook recommend the Ironbound Business Improvement District Management Corporation. Many users express positive sentiments about the community atmosphere, highlighting friendships, respect, and practical support available within the organization.
Comments reflect a strong appreciation for the environment the nonprofit fosters, with phrases such as "Lugar Excelente" and enthusiastic endorsements like "Muiiiiito Bom!!!" indicating that people feel welcomed and valued.
Overall, the organization appears to effectively create a sense of community and support among its members, contributing to a positive reputation within the area it serves.
This AI summary has been generated from reviews found on Facebook.
Is Ironbound Business Improvement District Management Corporation legitimate?
Ironbound Business Improvement District Management Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ironbound Business Improvement District Management 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: $50,290
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.goironbound.com
What is the mission statement of Ironbound Business Improvement District Management Corporation?
The Ironbound Business Improvement District Management Corporation is established and operates exclusively for charitable and educational purposes, adhering to Section 501(C)(3) of the Internal Revenue Code of 1986. It serves as the management corporation for the Ironbound Special Improvement District, as per New Jersey state laws. The corporation's primary aim is to oversee and manage the district, working towards the betterment and growth of the area. This non-profit organization operates with the goal of contributing positively to the community, promoting development and improvement within its designated district.
Official website here: www.goironbound.com
Who is the CEO of Ironbound Business Improvement District Management Corporation?
Seth Grossman is the President Emeritus of Ironbound Business Improvement District Management Corporation.
Official website here: www.goironbound.com
What is the revenue of Ironbound Business Improvement District Management Corporation?
Ironbound Business Improvement District Management Corporation's revenue in 2022 was $1,059,177.
Official website here: www.goironbound.com
Who are the executives of Ironbound Business Improvement District Management Corporation and what are their salaries?
The average compensation at Ironbound Business Improvement District Management Corporation during 2022 was $50,290. There is 1 employee and 13 volunteers at Ironbound Business Improvement District Management Corporation.
Here are 14 key members and their salaries:
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Official website here: www.goironbound.com
Where can I find the form 990 for Ironbound Business Improvement District Management Corporation?
Ironbound Business Improvement District Management Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.goironbound.com
Learn more at the official website: www.goironbound.com
Mission Statement of Ironbound Business Improvement District Management Corporation
The Ironbound Business Improvement District Management Corporation, abbreviated as IBID Management Corp., is organized and operates primarily for charitable and educational purposes, adhering to the guidelines set by Section 501(c)(3) of the Internal Revenue Code of 1986, as amended. This nonprofit corporation serves as the management body for the Ironbound Special Improvement District, fulfilling its mandate to oversee and enhance the district in accordance with New Jersey state laws. The IBID Management Corp. plays a pivotal role in serving as the district management corporation, working towards the betterment of the Ironbound Special Improvement District.
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Impact
October, 2024
The Ironbound Business Improvement District Management Corporation plays a crucial role in enhancing the Ironbound community in Newark, NJ. By focusing on various community services, public relations, and street cleaning, the organization contributes significantly to the overall quality of life in the area.
Its efforts in community improvement foster a cleaner, safer, and more vibrant environment, which not only benefits local residents but also attracts visitors and potential businesses. The emphasis on public relations helps to elevate the visibility of the Ironbound District, showcasing its unique cultural heritage and economic potential.
Through its work, the corporation helps to create a cohesive community atmosphere, encourages local engagement, and enhances the economic viability of the district. By facilitating public improvements and promoting the area, the Ironbound Business Improvement District Management Corporation strengthens the local economy and cultivates a sense of pride among residents and business owners alike.
This information is meant to be a general summary of Ironbound Business Improvement District Management 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.
- Gross Receipts: $1,059,177
Assets and Liabilities:
- Total Assets: $462,442
- Total Liabilities: $0
- Net Assets: $462,442
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Organization Details
Founding Year
2000
Phone
(973) 491-9191Principal Officer
Seth Grossman
Main Address
76 PROSPECT STREET 2ND FL, NEWARK, NJ, 071052204
Website
www.goironbound.comNTEE Category
Code: S400 - Community improvement
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