Overview
What is Penn Northwest Development Corporation?
Penn Northwest Development Corporation is a nonprofit organization situated in Hermitage, Pennsylvania, specifically at 3580 Innovation Way. Its primary mission is to promote economic growth and prosperity in Mercer County and Western Pennsylvania. By serving as a bridge between the public and private sectors, the corporation facilitates job creation through financing and encouraging economic development. Its role includes advocating for infrastructure improvements, providing high-quality customer service, controlling expenses, and seeking new funding sources to increase operational flexibility. The organization aims to become an effective marketing company, maximizing current funding sources, and utilizing technology as a core competency. With a staff of 12 employees, Penn Northwest Development Corporation strives to make significant progress in membership, customer service, business attraction, retention, and expansion, all contributing to enriching the lives of its community.
Official website here: www.penn-northwest.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
The Penn Northwest Development Corporation has achieved an impressive Four-Star rating from Charity Navigator, reflecting its high standards in accountability and finance. The organization scored 96% in the Accountability & Finance category, indicating strong financial health and transparency. This rating is based entirely on its performance in this area for the most recent fiscal year (FY2023).
One of the notable strengths of Penn Northwest is its governance structure, with 95% of its board members being independent. This independence, alongside a well-sized board of 21 members, contributes positively to the organization's oversight and decision-making processes. Furthermore, the nonprofit has successfully implemented various policies, including conflict of interest and whistleblower policies, which are crucial for maintaining integrity and accountability.
While the organization has demonstrated strong financial practices, including a low liabilities to assets ratio of 11.77% and a significant program expense ratio of 71.08%, it remains essential for donors and stakeholders to continually evaluate its impact and effectiveness in achieving its mission. Overall, Penn Northwest Development Corporation stands out as a reliable nonprofit with a commitment to financial accountability and governance.
This AI summary has been generated from information found on Charity Navigator.
Is Penn Northwest Development Corporation legitimate?
Penn Northwest Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Penn Northwest 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: $135,030
Professional Fundraising Fees: $0
Other Salaries and Wages: $223,850
For more financial information, click here
Official website here: www.penn-northwest.com
What is the mission statement of Penn Northwest Development Corporation?
Penn Northwest Development Corporation's mission is to stimulate job creation and improve the quality of life in its region by promoting, financing, and encouraging economic development through collaborative efforts between the public and private sectors. The organization serves as the leading economic development entity in its area, representing the county in all economic development matters. As a membership-driven, non-profit marketing company, Penn Northwest Development Corporation provides leadership to attract, retain, and expand businesses, aiming to make significant progress in membership, customer service, business attraction, retention, and expansion, and identifying key regional initiatives that promote the overall economic health of the area.
Official website here: www.penn-northwest.com
Who is the CEO of Penn Northwest Development Corporation?
Rod Wilt is the Board Member of Penn Northwest Development Corporation.
Official website here: www.penn-northwest.com
What is the revenue of Penn Northwest Development Corporation?
Penn Northwest Development Corporation's revenue in 2023 was $1,416,771.
Official website here: www.penn-northwest.com
Who are the executives of Penn Northwest Development Corporation and what are their salaries?
The average compensation at Penn Northwest Development Corporation during 2023 was $29,907. There are 12 employees at Penn Northwest Development Corporation.
Here are 23 key members and their salaries:
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- Related: $126,100
- Other: $6,305
Official website here: www.penn-northwest.com
Where can I find the form 990 for Penn Northwest Development Corporation?
Penn Northwest Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.penn-northwest.com
Learn more at the official website: www.penn-northwest.com
Mission Statement of Penn Northwest Development Corporation
Penn Northwest Development Corporation serves as the leading economic development organization in its region, representing Mercer County in all economic development matters. Its mission is multifaceted, aiming to facilitate job creation and improve the quality of life for its community members. To achieve this, the corporation promotes, finances, and encourages economic development through collaborative efforts between the public and private sectors.
In essence, Penn Northwest Development Corporation acts as a catalyst for economic growth and prosperity. It exists to enrich the lives of those living, working, and playing in its jurisdiction. The organization is member-driven and non-profit, providing the leadership necessary to attract, retain, and expand businesses within the county and surrounding areas. Its ultimate goal is to make significant progress in the areas of membership, customer service, business attraction and retention, and the identification of regional initiatives that promote the economic health of Mercer County.
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Impact
October, 2024
Penn Northwest Development Corporation significantly impacts Mercer County and Western Pennsylvania by driving economic growth and enhancing the quality of life for local residents. By fostering collaboration between the public and private sectors, the organization works to create new jobs and attract businesses that invest in the community.
Its primary focus includes attracting new businesses that provide sustainable, family-wage jobs and supporting local industries through education and expansion opportunities. By advocating for infrastructure improvements and site development, Penn Northwest positions the county as an attractive destination for investment.
The organization builds strong relationships with local, state, and federal officials to ensure that economic development initiatives align with the broader community's needs. Emphasizing high-quality customer service and effective communication strategies, Penn Northwest aims to be an effective marketing company that continually seeks new funding sources and maximizes existing ones. Ultimately, its efforts contribute to the prosperity and enrichment of lives for those living and working in Mercer County.
This information is meant to be a general summary of Penn Northwest 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: $11,694
- Program Service Revenue: $263,006
- Gross Receipts: $1,440,930
Assets and Liabilities:
- Total Assets: $3,368,532
- Total Liabilities: $396,491
- Net Assets: $2,972,041
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN FEES & ADMIN INCO
Revenue
$131,705
FUTURE LEADERS PROGRAM
Revenue
$98,575
DEPT ECONOMIC DEVELOP
Revenue
$17,305
INTEREST ON LOANS
Revenue
$10,088
BAD DEBT RECOVERY
Revenue
$5,333
Organization Details
Founding Year
1985
Phone
(724) 662-3705Principal Officer
Rod Wilt
Main Address
3580 INNOVATION WAY, HERMITAGE, PA, 16148
Website
www.penn-northwest.comNTEE Category
Code: S31Z - Community improvement
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