Overview
What is Corry Industrial Benefit Association?
The Corry Industrial Benefit Association is a charitable organization situated in Corry, Pennsylvania. With a primary focus on alleviating poverty, dependency, and unemployment in the region, the association aims to improve the economic well-being of the Corry Area in Northwest Pennsylvania. Their mission involves providing essential economic relief to the local community, working towards reducing tensions in an economically challenged area.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Corry Industrial Benefit Association has received a Two-Star out of Four Star rating from Charity Navigator, indicating a need for improvement in certain accountability and transparency areas. While the organization scored well in program expense ratio (86.16%) and maintained a healthy liabilities to assets ratio (8.27%), the overall score of 70% reflects several significant gaps in governance practices, notably the absence of essential policies and documentation.
Strengths of the organization include its fully independent board, which consists of six members, and a solid record of no material diversion of assets. These aspects suggest a commitment to responsible financial management and integrity in operations. However, the lack of a conflict of interest policy, whistleblower policy, and proper documentation such as meeting minutes and tax forms on the website reveals critical weaknesses in its governance structure.
To enhance its rating, the Corry Industrial Benefit Association should prioritize addressing the missing policies and transparency measures. By implementing these improvements, the nonprofit can better demonstrate accountability to stakeholders and the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Corry Industrial Benefit Association legitimate?
Corry Industrial Benefit Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Corry Industrial Benefit Association 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
What is the mission statement of Corry Industrial Benefit Association?
The Corry Industrial Benefit Association's mission is centered around providing economic relief. Specifically, its purpose is to alleviate conditions of poverty, dependency, chronic unemployment, and underemployment in a economically challenged community. The association also works towards reducing community tensions in this area, aiming to improve its overall socio-economic situation.
What is the revenue of Corry Industrial Benefit Association?
Corry Industrial Benefit Association's revenue in 2023 was $115,050.
Who are the executives of Corry Industrial Benefit Association and what are their salaries?
Here are 5 key members and their salaries:
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Where can I find the form 990 for Corry Industrial Benefit Association?
Corry Industrial Benefit Association's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Corry Industrial Benefit Association
The Corry Industrial Benefit Association is dedicated to alleviating economic hardships in the Corry Area of Northwest Pennsylvania. This nonprofit organization's mission is centered around providing relief from conditions of poverty, dependency, chronic unemployment, and underemployment. Furthermore, the association aims to decrease community tensions in an economically depressed area. By working towards these goals, the Corry Industrial Benefit Association strives to improve the overall well-being and livelihood of the community it serves.
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Impact
August, 2024
Corry Industrial Benefit Association's impact includes providing economic relief to the Corry Area of Northwest Pennsylvania by targeting conditions of poverty, dependency, chronic unemployment, and underemployment. Their efforts aim to reduce community tensions in an economically depressed community, leading to improvements in overall community well-being and promoting economic stability in the region.
This information is meant to be a general summary of Corry Industrial Benefit Association. 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: $14
- Gross Receipts: $115,050
Assets and Liabilities:
- Total Assets: $1,064,035
- Total Liabilities: $88,175
- Net Assets: $975,860
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Organization Details
Principal Officer
David S Sample
NTEE Category
Code: S41J - Community improvement
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