Overview
What is The Ridc Regional Growth Fund?
The Ridc Regional Growth Fund is a nonprofit organization founded in 1985, based in Pittsburgh, Pennsylvania (PA, ZIP 15238). Its mission lies in fostering educational and training programs, primarily focusing on advanced technology sectors such as computer science, robotics, medical instrumentation, and technology. The organization achieves this goal by offering facilities and financing to colleges and universities in southwestern Pennsylvania. Their most notable project is the development and management of a 2.8-million-square-foot former Volkswagen plant/Sony factory, located in Westmoreland County, Pennsylvania. By providing diversified economic development services to businesses and industries, the Ridc Regional Growth Fund aims to revitalize the region.
Official website here: www.ridc.org
What are the reviews and ratings of this charity?
The Ridc Regional Growth Fund has received a Three-Star out of Four Star rating from Charity Navigator with an overall score of 81%. This rating reflects the organization's strong performance in accountability and finance, highlighting its commitment to transparency and effective governance practices.
One of the key strengths of the organization is its independent board composition, with 80% of board members being independent. Additionally, the fund has a solid financial oversight structure, as evidenced by perfect scores in areas such as audit and oversight committee evaluations and material diversion of assets, indicating a high level of ethical management and financial integrity.
However, while the organization's high program expense ratio of 92.73% demonstrates effective allocation of resources towards its mission, the rating may suggest opportunities for improvement in other areas that impact overall performance. Nonetheless, the Ridc Regional Growth Fund's policies and practices position it as a trustworthy entity within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is The Ridc Regional Growth Fund legitimate?
The Ridc Regional Growth Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Ridc Regional Growth Fund 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
For more financial information, click here
Official website here: www.ridc.org
What is the mission statement of The Ridc Regional Growth Fund?
The Ridc Regional Growth Fund is a supporting organization that provides diverse economic development services to businesses and industries. Established in 1985, its mission is geared towards promoting educational and training programs in various fields, including computer science, robotics, medical instrumentation, and advanced technology. The organization achieves this by offering facilities and financing to educational institutions in southwestern Pennsylvania. The primary project of the Regional Growth Fund is the management and development of a large-scale industrial complex, spanning over 2.8 million square feet. While the specific location is not mentioned, this facility has undergone significant transformation from its previous identity as the Volkswagen plant/Sony factory.
Official website here: www.ridc.org
What is the revenue of The Ridc Regional Growth Fund?
The Ridc Regional Growth Fund's revenue in 2023 was $17,522,772.
Official website here: www.ridc.org
Who are the executives of The Ridc Regional Growth Fund and what are their salaries?
Here are 18 key members and their salaries:
- Compensation: $0
- Related: $624,782
- Other: $43,865
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $377,057
- Other: $50,654
- Compensation: $0
- Related: $218,100
- Other: $39,603
- Compensation: $0
- Related: $297,129
- Other: $43,766
- Compensation: $0
- Related: $122,235
- Other: $33,399
- Compensation: $0
- Related: $179,565
- Other: $21,649
- Compensation: $0
- Related: $160,532
- Other: $35,928
- Compensation: $0
- Related: $143,149
- Other: $34,579
- Compensation: $0
- Related: $149,368
- Other: $35,636
- Compensation: $0
- Related: $127,325
- Other: $21,555
- Compensation: $0
- Related: $150,000
- Other: $0
Official website here: www.ridc.org
Where can I find the form 990 for The Ridc Regional Growth Fund?
The Ridc Regional Growth Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ridc.org
Learn more at the official website: www.ridc.org
Mission Statement of The Ridc Regional Growth Fund
The Ridc Regional Growth Fund, established in 1985, is a supportive organization based in southwestern Pennsylvania with a mission to provide diversified economic development services to businesses and industry. This nonprofit organization focuses on promoting educational and training programs, particularly in fields such as computer science, robotics, medical instrumentation, and advanced technology.
To accomplish this, The Ridc Regional Growth Fund offers facilities and financing to colleges and universities within its region. One of its most significant projects is the management and development of a 2,800,000-square-foot former Volkswagen plant/Sony factory located in Westmoreland County, Pennsylvania. This substantial project underlines The Ridc Regional Growth Fund's commitment to fostering economic growth and development within its community. By providing essential resources and support to educational institutions and businesses, The Ridc Regional Growth Fund is instrumental in driving innovation and progress in southwestern Pennsylvania.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
The Ridc Regional Growth Fund significantly impacts economic development in Southwestern Pennsylvania by facilitating diverse growth initiatives. Since its incorporation in 1985, the Fund has been instrumental in promoting educational and training programs in key areas such as computer science, robotics, medical instrumentation, and advanced technology. It achieves this by providing essential facilities and financing to local colleges and universities.
One of the Fund's principal projects involves the management and development of a substantial 2,800,000 square foot facility at the site of a former Volkswagen and Sony factory in Westmoreland County. This revitalization effort not only boosts local employment but also fosters innovation and entrepreneurship by creating a hub for businesses and industries to thrive.
Overall, the Ridc Regional Growth Fund plays a crucial role in supporting community improvement and driving economic vitality, positioning Southwestern Pennsylvania as a competitive player in various advanced sectors.
This information is meant to be a general summary of The Ridc Regional Growth Fund. 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: $3,993
- Program Service Revenue: $16,554,674
- Gross Receipts: $17,522,772
Assets and Liabilities:
- Total Assets: $37,936,694
- Total Liabilities: $30,900,688
- Net Assets: $7,036,006
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$16,552,276
SERVICE & MANAGEMENT
Revenue
$2,398
Organization Details
Founding Year
1985
Principal Officer
Kurta Marian D
Website
www.ridc.orgNTEE Category
Code: S300 - Community improvement
If you are a representative of The Ridc Regional Growth Fund and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.