Overview
What is Downtown Development Corporation?
The Downtown Development Corporation is a nonprofit organization situated in Rutland, Vermont, at 48 Merchants Row, 05701. Their primary focus and mission revolve around the ownership and management of supportive housing for the elderly. Specifically, they manage Parker House, a 46-unit apartment building, which serves as a residence for senior citizens. The organization's work provides a crucial service, offering elderly individuals a secure living environment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (65%)
The Downtown Development Corporation has received a two-star rating from Charity Navigator, indicating that there are areas needing improvement despite a strong score in accountability and finance, with a perfect score of 100%. The organization boasts 100% independent board members and has no material diversion of assets, suggesting a solid governance structure and financial integrity.
However, significant gaps in transparency are noted, including missing policies for conflicts of interest and whistleblower protections, as well as the lack of publicly available board meeting minutes. Furthermore, the organization's website does not list its tax forms, which is critical for ensuring openness and accountability to stakeholders.
Financially, while the program expense ratio is impressive at 80.81%, indicating a high proportion of spending on programs rather than administration, the liabilities to assets ratio of 86.87% raises concerns about financial stability. Overall, while the Downtown Development Corporation demonstrates a strong commitment to effective governance, there are notable deficiencies in transparency and financial health that need to be addressed.
This AI summary has been generated from information found on Charity Navigator.
Is Downtown Development Corporation legitimate?
Downtown Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Downtown 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Downtown Development Corporation?
The Downtown Development Corporation's mission is centered around providing and managing supportive housing for the elderly. Specifically, they oversee Parker House, a 46-unit apartment building, offering housing solutions for our senior population. Their mission is primarily focused on ensuring the elderly have a secure and suitable living environment.
Who is the CEO of Downtown Development Corporation?
Katye Munger is the President of Downtown Development Corporation.
What is the revenue of Downtown Development Corporation?
Downtown Development Corporation's revenue in 2022 was $519,893.
Who are the executives of Downtown Development Corporation and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Downtown Development Corporation?
Downtown Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Downtown Development Corporation
The Downtown Development Corporation, as outlined in the provided information, is dedicated to the ownership and management of supportive housing for the elderly. Specifically, this organization manages Parker House, a 46-unit apartment building, providing housing for elderlies in need. By overseeing this residential complex, the Downtown Development Corporation ensures a safe and secure living environment for the elderly population, providing them with the necessary support they require.
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Impact
July, 2024
Downtown Development Corporation's impact includes providing housing for the elderly at Parker House, a 46-unit apartment building in Rutland, VT. This initiative contributes to supporting the elderly population by offering supportive housing options tailored to their needs. Through their ownership and management of supportive housing, Downtown Development Corporation serves as a vital resource for elderly individuals seeking safe and comfortable living accommodations.
This information is meant to be a general summary of Downtown 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 2022.
- Investment Income: $42
- Program Service Revenue: $509,059
- Gross Receipts: $519,893
Assets and Liabilities:
- Total Assets: $849,758
- Total Liabilities: $831,216
- Net Assets: $18,542
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES FOR PROGRAMS
Revenue
$509,059
Organization Details
Founding Year
1974
Phone
(802) 773-9380Principal Officer
Katye Munger
Main Address
48 MERCHANTS ROW, RUTLAND, VT, 05701
NTEE Category
Code: L22 - Housing
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