Overview
What is The Economic Development Group Inc?
The Economic Development Group Inc, operating under the name Northland Workforce Training Center, is a nonprofit organization situated in Buffalo, New York. Their primary mission is to enhance the economic prosperity of Western New York by cultivating a skilled and diverse workforce to cater to the demands of the advanced manufacturing and energy sectors. To achieve this, Northland houses two co-located training facilities: the Advanced Manufacturing Training Center and the Utility of the Future & Clean Energy Training Center. These centers aim to expand the number and quality of local candidates prepared for careers in these industries. Northland's core offerings include for-credit, certificate, and degree programs in partnership with educational institutions such as SUNY Alfred State College and SUNY Erie Community College. They employ evidence-based placement strategies, like co-ops, apprenticeships, and internships, with an emphasis on securing permanent employment for their trainees. The organization's commitment extends beyond job placement, offering opportunities for career advancement and economic sustainability. With 18 employees, Northland Workforce Training Center is dedicated to driving the growth and development of Western New York's workforce.
Official website here: www.northlandwtc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The Economic Development Group Inc has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. The overall score reflects a strong performance in the Accountability & Finance category, which is crucial for donors looking to ensure their contributions are managed wisely. The organization has demonstrated transparency with fully independent board members and robust financial oversight practices.
Strengths highlighted include a 100% independent board, effective auditing processes, and a commitment to ethical governance with policies in place for conflict of interest and whistleblower protections. The charity’s financial management is solid, with a program expense ratio of 74.09%, meaning a significant portion of funds is directed towards its intended programs, enhancing its credibility among stakeholders.
However, the organization does face a challenge with fundraising efficiency, as indicated by a low ratio of $0.01. This could suggest that while the charity is effectively utilizing its funds, it may need to improve its fundraising strategies to increase revenue and sustainability. Overall, the Economic Development Group Inc appears to be a reliable nonprofit with a strong foundation in accountability, but it may benefit from enhancing its fundraising efforts.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about The Economic Development Group Inc?
90% of reviewers on Facebook recommend The Economic Development Group Inc. Here is a summary of their reviews:
Many users express their appreciation for the new facility and the range of resources it provides. They highlight the positive impact of the program on the local community, indicating that it effectively supports its mission. The overall sentiment is one of satisfaction, with reviewers feeling impressed by the services offered and the organization’s commitment to economic development.
The feedback showcases a community that values the nonprofit's efforts, noting its significance in improving the area. Overall, The Economic Development Group Inc appears to be making a meaningful contribution to its stakeholders, with many recommending it to others.
This AI summary has been generated from reviews found on Facebook.
Is The Economic Development Group Inc legitimate?
The Economic Development Group Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Economic Development Group 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $233,747
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,176,664
For more financial information, click here
Official website here: www.northlandwtc.org
What is the mission statement of The Economic Development Group Inc?
The Economic Development Group Inc, in its mission, aims to enhance the economic prosperity of Western New York. They accomplish this by fostering and maintaining a skilled and diverse workforce, catering to the demands of the advanced manufacturing and energy sectors. The organization provides opportunities for job seekers, offering pathways to gainful employment, career advancement, and economic sustainability. To achieve this, Northland houses two training facilities: the Advanced Manufacturing Training Center and the Utility of the Future & Clean Energy Training Center. These centers aim to increase the number and quality of local candidates prepared for careers in energy and advanced manufacturing. They offer academic programs through educational partners, incorporating evidence-based placement strategies such as co-ops, apprenticeships, and internships, with a focus on securing permanent employment.
Official website here: www.northlandwtc.org
Who is the CEO of The Economic Development Group Inc?
Stephen Tucker is the Chair of The Economic Development Group Inc. The CEO's salary of The Economic Development Group Inc is $177,660 and their total compensation is $193,079.
Official website here: www.northlandwtc.org
What is the revenue of The Economic Development Group Inc?
The Economic Development Group Inc's revenue in 2022 was $4,652,433.
Official website here: www.northlandwtc.org
Who are the executives of The Economic Development Group Inc and what are their salaries?
The average compensation at The Economic Development Group Inc during 2022 was $78,356. There are 18 employees at The Economic Development Group Inc.
Here are 19 key members and their salaries (The Economic Development Group Inc's CEO's salary is $177,660 and their total compensation is $193,079):
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- Compensation: $177,660
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- Compensation: $60,398
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- Other: $4,565
Official website here: www.northlandwtc.org
Where can I find the form 990 for The Economic Development Group Inc?
The Economic Development Group Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.northlandwtc.org
Learn more at the official website: www.northlandwtc.org
Mission Statement of The Economic Development Group Inc
The Economic Development Group Inc, abbreviated as Northland, is dedicated to enhancing the economic prosperity of Western New York. Their mission is twofold: firstly, they aim to cultivate and maintain a skilled and diverse workforce that can cater to the demands of the advanced manufacturing and energy sectors. Secondly, they provide opportunities for job seekers, offering pathways towards gainful employment, career advancement, and economic sustainability.
To achieve this mission, Northland operates two co-located training facilities: the Advanced Manufacturing Training Center and the Utility of the Future & Clean Energy Training Center. These facilities increase the number and quality of local candidates prepared for careers in energy and advanced manufacturing. Northland offers a range of educational programs, including for-credit, certificate, and degree courses, through its partners, SUNY Alfred State College and SUNY Erie Community College. Their educational strategy incorporates evidence-based placement strategies, such as cooperative education, apprenticeships, and internships, with a focus on securing permanent employment for their trainees.
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Impact
October, 2024
The Economic Development Group Inc. plays a crucial role in enhancing the economic landscape of Western New York by focusing on the advanced manufacturing and energy sectors. By fostering a skilled and diverse workforce, the organization addresses regional employment needs while empowering job seekers with meaningful opportunities.
With two co-located training facilities—the Advanced Manufacturing Training Center and the Utility of the Future & Clean Energy Training Center—The Economic Development Group Inc. significantly increases the pool of qualified candidates ready to fill critical roles in these high-demand industries. By collaborating with educational partners, including SUNY Alfred State College and SUNY Erie Community College, the organization offers accredited programs that incorporate practical, hands-on training through co-ops, apprenticeships, and internships.
Additionally, the focus on not just job placement but also career advancement ensures that individuals are equipped with not only immediate employment opportunities but also pathways toward long-term economic sustainability. Overall, The Economic Development Group Inc. serves as a vital catalyst for workforce development and economic growth, ultimately contributing to the prosperity of the Western New York community.
This information is meant to be a general summary of The Economic Development Group 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.
- Program Service Revenue: $168,069
- Gross Receipts: $4,759,244
Assets and Liabilities:
- Total Assets: $3,328,124
- Total Liabilities: $1,241,124
- Net Assets: $2,087,000
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$168,069
Organization Details
Founding Year
2000
Phone
(716) 436-3229Principal Officer
Stephen Tucker
Main Address
683 NORTHLAND AVE, BUFFALO, NY, 14211
Website
www.northlandwtc.orgNTEE Category
Code: N20 - Recreation
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