Overview
What is Bethlehem Economic Development Corporation?
Bethlehem Economic Development Corporation is a nonprofit organization, based in Bethlehem, Pennsylvania, with a focus on promoting economic growth and supporting small businesses in the area. Their mission involves emphasizing the development of manufacturing, industrial, research, and development enterprises, coordinating a unified downtown strategy, and collaborating with governmental and civic bodies to eliminate slums and blight. They aim to aid in the planning, renewal, development, and improvement of businesses in Bethlehem, Lehigh, and Northampton counties, primarily to combat economic challenges. The corporation, with a team of three employees, plays a significant role in the city's economic development and small business promotion.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 93% (Four-Star out of Four Star rating)
The Bethlehem Economic Development Corporation has achieved an impressive Four-Star rating from Charity Navigator, indicating strong performance in accountability and finance. Its overall score is based entirely on a single beacon focused on financial practices, reflecting its commitment to transparency and effective financial management.
The organization demonstrates notable strengths, including a fully independent board of directors, with all eight members meeting the standards for independence. Additionally, it has robust financial oversight mechanisms, as evidenced by its perfect scores in audit and oversight practices. The program expense ratio is exceptionally high at 97.91%, suggesting that a significant portion of its resources is directed towards its mission-related activities.
While the financial health indicators, such as the liabilities to assets ratio of 50.70%, are generally positive, any liabilities should be monitored closely. However, the absence of material diversions of assets and the presence of comprehensive policies on conflict of interest and whistleblower protections further enhance the organization's credibility and integrity. Overall, the Bethlehem Economic Development Corporation stands out as a well-managed nonprofit with a strong focus on accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Bethlehem Economic Development Corporation legitimate?
Bethlehem Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bethlehem Economic 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.
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Other Salaries and Wages: $0
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What is the mission statement of Bethlehem Economic Development Corporation?
The Bethlehem Economic Development Corporation, established under the Non-Profit Corporation Law of Pennsylvania, is dedicated to promoting economic growth and development in its area of operation. The corporation emphasizes the development of manufacturing, industrial, research, and development enterprises, and assists in the growth and development of all business concerns, including small businesses. It coordinates a unified downtown organization and retail strategy, and works in cooperation with federal, state, and local governmental and civic bodies to eliminate slums, blight, and blighting influences. The corporation's primary purpose is to aid in the planning, redevelopment, and improvement of businesses, with the goal of combating economic challenges.
What is the revenue of Bethlehem Economic Development Corporation?
Bethlehem Economic Development Corporation's revenue in 2023 was $702,058.
Who are the executives of Bethlehem Economic Development Corporation and what are their salaries?
There are 2 employees at Bethlehem Economic Development Corporation.
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Where can I find the form 990 for Bethlehem Economic Development Corporation?
Bethlehem Economic Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Bethlehem Economic Development Corporation
The Bethlehem Economic Development Corporation, established under the Non-Profit Corporation Law of Pennsylvania, is dedicated to promoting economic growth and development in its area of operation. Its primary focus is on nurturing all business concerns, including small businesses, with a particular emphasis on manufacturing, industrial, research, and development enterprises. Additionally, the corporation aims to coordinate a unified downtown organization and retail strategy, and collaborate with federal, state, and local governmental and civic bodies to eliminate slums, blight, and blighting influences. The ultimate goal is to foster planning, redevelopment, and improvement of businesses in the City of Bethlehem, Lehigh, and Northampton Counties, Pennsylvania, with the aim of combating economic decline.
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Impact
July, 2024
Bethlehem Economic Development Corporation plays a pivotal role in promoting the economic development of the City of Bethlehem. By focusing on assisting and fostering the growth of all types of businesses in the area, with a particular emphasis on manufacturing, industrial, and research enterprises, it contributes significantly to the overall economic vitality of the region. Additionally, the corporation works to eliminate slums, blight, and blighting influences in collaboration with various governmental and civic bodies, ensuring the city's continued growth and improvement. Through its strategic initiatives and coordinated efforts, the Bethlehem Economic Development Corporation effectively combats economic challenges and drives the enhancement of businesses in Bethlehem, Lehigh, and Northampton Counties, Pennsylvania.
This information is meant to be a general summary of Bethlehem Economic 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: $38,703
- Program Service Revenue: $663,355
- Gross Receipts: $702,058
Assets and Liabilities:
- Total Assets: $2,009,089
- Total Liabilities: $1,018,632
- Net Assets: $990,457
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
AMBASSADORS PROGRAM
Revenue
$308,640
SOUTH BETH MAIN ST INITIATIVE
Revenue
$188,455
521 E. 4TH ST. BETHLEHEM PA
Revenue
$88,046
KEYSTONE INNOVATION ZONE PROG
Revenue
$58,414
OTHER INCOME
Revenue
$19,800
Organization Details
Founding Year
1982
Principal Officer
Alicia Miller Karner
NTEE Category
Code: S30 - Community improvement
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