Overview
What is Solid Rock Community Developmentcorporation?
Solid Rock Community Development Corporation is a nonprofit organization situated in Colorado Springs, Colorado. Their primary mission is to foster a diverse and thriving economy in Southeast Colorado Springs, emphasizing the significance of affordable housing, small business development, and community wellbeing. To achieve this, they engage in community economic development initiatives, ensuring that business growth and job creation in the SE region align with the broader economic development of Colorado Springs. Recognizing the hurdle of affordable housing in the area, Solid Rock CDC actively collaborates with landlords, developers, community organizations, and government agencies to address this issue in Southeast Colorado Springs. Through strategic partnerships, they aim to dismantle concentrated poverty in the area, promoting projects that enhance the Southeast economy and improve the quality of life for its communities. Their goal is to establish a self-sustaining economy that is interconnected with the larger regional economy, creating job opportunities and investing in housing and community infrastructure to bolster economic health and safety in the region.
Official website here: www.solidrockcdc.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 83%, Three-Star out of Four Star rating.
Solid Rock Community Development Corporation demonstrates a strong commitment to accountability and financial management, reflected in its 83% overall score. This rating highlights the organization's effective practices, such as having a fully independent board and maintaining no material diversion of assets. The organization also excels in transparency, evidenced by its comprehensive policies on conflict of interest and document retention.
The organization maintains a high program expense ratio of 78.80%, indicating that a significant portion of its funds is directed towards its mission-driven activities. Additionally, the working capital ratio of 4.04 years suggests a robust financial position, ensuring the organization can sustain its operations over the long term.
However, while the organization performs well in accountability and finance, potential donors and stakeholders may seek more information on its programmatic impact and outreach efforts, which are not detailed in the available data. Overall, Solid Rock Community Development Corporation appears to be a reliable nonprofit focused on sustainability and ethical governance.
This AI summary has been generated from information found on Charity Navigator.
Is Solid Rock Community Developmentcorporation legitimate?
Solid Rock Community Developmentcorporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Solid Rock Community Developmentcorporation 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: $193,797
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.solidrockcdc.com
What is the mission statement of Solid Rock Community Developmentcorporation?
Solid Rock Community Development Corporation is committed to establishing a diverse economy in its community, focusing on affordable housing, small business development, and investing in healthy environments. Their objective is to dismantle concentrated poverty by building strong partnerships and investing in projects that improve the economy and quality of life. They aim to create a self-sustaining economy connected to the larger regional economy, support policies and systems that help businesses and communities thrive, and generate job opportunities to lift individuals and families out of poverty. Furthermore, they invest in housing and community infrastructure to promote economic health and safety.
Official website here: www.solidrockcdc.com
What is the revenue of Solid Rock Community Developmentcorporation?
Solid Rock Community Developmentcorporation's revenue in 2024 was $819,386.
Official website here: www.solidrockcdc.com
Who are the executives of Solid Rock Community Developmentcorporation and what are their salaries?
The average compensation at Solid Rock Community Developmentcorporation during 2024 was $48,449. There are 4 employees and 3 volunteers at Solid Rock Community Developmentcorporation.
Here are 13 key members and their salaries:
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Official website here: www.solidrockcdc.com
Where can I find the form 990 for Solid Rock Community Developmentcorporation?
Solid Rock Community Developmentcorporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.solidrockcdc.com
Learn more at the official website: www.solidrockcdc.com
Mission Statement of Solid Rock Community Developmentcorporation
Solid Rock Community Development Corporation is dedicated to fostering a diverse and self-sustaining economy in Southeast Colorado Springs. Their mission is threefold: firstly, they aim to promote the creation of more affordable housing and small business development in the area. This is done by establishing relationships with various stakeholders, including landlords, developers, community organizations, and government agencies.
Secondly, Solid Rock CDC strives to invest in projects that improve the Southeast economy and enhance the quality of life for its communities. They believe in leading and building strong partnerships that can bring about positive change in the region.
Lastly, Solid Rock CDC is committed to addressing and dismantling concentrated poverty in Southeast Colorado Springs. They do this by supporting policies and systems that help businesses and communities thrive. Moreover, they create job opportunities to help individuals and families move out of poverty. By investing in businesses, housing, and other community infrastructure, Solid Rock CDC aims to promote economic health and safety for the people and communities of Southeast Colorado Springs.
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Impact
October, 2024
Solid Rock Community Development Corporation has made a significant impact on Southeast Colorado Springs through its dedicated efforts in community economic development. By focusing on business development, it has facilitated the creation of jobs that align with the overall economic growth of Colorado Springs. The organization's approach emphasizes the transition from high dependence on government support to a more sustainable economy driven by increased employment opportunities and enhanced community infrastructure.
A cornerstone of its initiatives is addressing the critical shortage of affordable housing in the area. Recognizing that many residents face challenges due to factors like race, ethnicity, and social status, Solid Rock CDC has actively worked to forge partnerships with landlords, developers, community organizations, and government entities. This collaboration aims to tackle the barriers to affordable housing, allowing more residents the chance to establish stable living conditions that foster economic advancement.
Through its mission to cultivate a diverse economy, Solid Rock CDC prioritizes the development of affordable housing and small businesses while investing in healthy community environments. This holistic approach seeks to dismantle concentrated poverty and elevate the quality of life for individuals and families in Southeast Colorado Springs. By championing policies that support business growth and community well-being, the organization fosters a self-sustaining economy connected to the broader regional landscape, creating job opportunities and uplifting communities out of poverty.
This information is meant to be a general summary of Solid Rock Community Developmentcorporation. 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 2024.
- Investment Income: $23,841
- Gross Receipts: $982,086
Assets and Liabilities:
- Total Assets: $4,668,453
- Total Liabilities: $2,148,196
- Net Assets: $2,520,257
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Organization Details
Founding Year
2007
Principal Officer
Benjamin Anderson
Website
www.solidrockcdc.comNTEE Category
Code: P50 - Human services
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