Overview
What is Enterprise Development Fund Of Erie County Inc?
Enterprise Development Fund of Erie County Inc is a nonprofit organization, headquartered in Erie, Pennsylvania. Its primary mission is to stimulate community and economic development by offering credit, capital, and technical support to businesses. This assistance aims to create and retain employment opportunities for underserved populations. By providing these resources, the organization contributes to the economic development and community development strategy of the region.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
The Enterprise Development Fund Of Erie County Inc has received a score of 79%, indicating a moderate level of performance in terms of accountability and finance. This rating reflects the organization’s strong commitment to transparency and governance, with a perfect score for having an independent board and comprehensive financial oversight. The majority of board members are independent, and the organization has established policies for conflict of interest, whistleblowing, and document retention.
However, the organization has a significant challenge concerning its financial health, as indicated by a low score in the liabilities-to-assets ratio, where it received 0 out of 15 points. While the program expense ratio is very high at 90.35%, demonstrating effective allocation of resources towards its mission, the overall financial stability may be a concern for potential donors. The lack of material diversion of assets is a positive aspect, showcasing integrity in its financial dealings.
This AI summary has been generated from information found on Charity Navigator.
Is Enterprise Development Fund Of Erie County Inc legitimate?
Enterprise Development Fund Of Erie County Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Enterprise Development Fund Of Erie County 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:
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What is the mission statement of Enterprise Development Fund Of Erie County Inc?
The Enterprise Development Fund of Erie County Inc. is committed to aiding in the region's economic and community development strategy. They accomplish this by providing credit, capital, and technical support to businesses, with the primary goal of creating and retaining jobs for underserved populations. This organization's mission is to stimulate community development and boost employment opportunities for underrepresented groups, contributing to the region's overall growth and prosperity. To achieve this, they have established a loan fund to assist businesses, thereby promoting economic development in the area.
Who is the CEO of Enterprise Development Fund Of Erie County Inc?
Charles Barber is the Chairman of Enterprise Development Fund Of Erie County Inc.
What is the revenue of Enterprise Development Fund Of Erie County Inc?
Enterprise Development Fund Of Erie County Inc's revenue in 2022 was $583,744.
Who are the executives of Enterprise Development Fund Of Erie County Inc and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Enterprise Development Fund Of Erie County Inc?
Enterprise Development Fund Of Erie County Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Enterprise Development Fund Of Erie County Inc
Enterprise Development Fund of Erie County Inc is committed to contributing to the region's economic and community development strategy. They achieve this by providing credit, capital, and technical support to businesses. Their mission is to assist in creating and retaining jobs for underserved populations, thereby stimulating community and economic development. This nonprofit organization aims to increase employment opportunities in underrepresented communities, thereby promoting overall development and prosperity.
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Impact
July, 2024
The Enterprise Development Fund Of Erie County Inc's impact is centered around providing credit, capital, and technical support to businesses in order to create and retain jobs for underserved populations. By creating a loan fund to assist businesses in stimulating community and economic development, as well as increasing employment opportunities for underserved groups, the organization plays a vital role in advancing the region's economic and community development strategy. This initiative directly contributes to community improvement by fostering entrepreneurship, job creation, and overall economic growth in Erie County, PA.
This information is meant to be a general summary of Enterprise Development Fund Of Erie County 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.
- Investment Income: $1,395
- Program Service Revenue: $184,088
- Gross Receipts: $583,744
Assets and Liabilities:
- Total Assets: $4,870,106
- Total Liabilities: $4,442,081
- Net Assets: $428,025
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest Income-Notes
Revenue
$184,088
Organization Details
Founding Year
1986
Phone
(814) 450-0002Principal Officer
Charles Barber
Main Address
1314 Griswold Plaza, Erie, PA, 16501
NTEE Category
Code: S31Z - Community improvement
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