Overview
What is Bolivar Downtown Development?
Bolivar Downtown Development is a community-focused organization situated in Bolivar, Tennessee. Their primary purpose is to stimulate the revitalization of the city's downtown area. By promoting redevelopment projects, they aim to breathe new life into this central district, ultimately enhancing the overall appeal and vitality of Bolivar. The organization plays a significant role in driving positive changes within the city, contributing to its growth and development.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Star rating (67%)
Bolivar Downtown Development received a Two-Star rating from Charity Navigator, indicating a need for improvement in overall accountability and financial transparency. While the organization boasts a fully independent board and a strong program expense ratio of 100%, there are significant gaps in their financial reporting. The absence of financial statements and required policies such as conflict of interest, whistleblower, and document retention raises concerns about governance practices.
The organization demonstrates strengths in board independence and maintaining a low liabilities to assets ratio, which reflects a manageable level of debt. However, the lack of transparency in financial operations is a notable limitation. The missing essential documents and policies may hinder stakeholder trust and overall effectiveness in their mission.
In summary, while Bolivar Downtown Development shows strong programmatic commitment, their rating reflects critical areas for improvement in governance and financial disclosure. Addressing these deficiencies could enhance their credibility and operational integrity in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Bolivar Downtown Development legitimate?
Bolivar Downtown Development is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bolivar Downtown Development 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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Professional Fundraising Fees: $0
Other Salaries and Wages: $75,698
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What is the mission statement of Bolivar Downtown Development?
Bolivar Downtown Development, as an urban development organization, is committed to fostering the revitalization of its downtown area. Its mission, expressed in third person, is to actively promote the redevelopment of the downtown sector, aiming to breathe new life into the community and potentially enhance its overall appeal. The organization's activities may involve attracting businesses, improving infrastructure, and encouraging cultural events to help revitalize the downtown area. The ultimate goal is to transform the downtown region into a vibrant, sustainable, and culturally rich area where people can live, work, and enjoy their leisure time.
Who is the CEO of Bolivar Downtown Development?
Scott Ledbetter is the Board Member of Bolivar Downtown Development.
What is the revenue of Bolivar Downtown Development?
Bolivar Downtown Development's revenue in 2022 was $977,366.
Who are the executives of Bolivar Downtown Development and what are their salaries?
The average compensation at Bolivar Downtown Development during 2022 was $15,140. There are 5 employees at Bolivar Downtown Development.
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Where can I find the form 990 for Bolivar Downtown Development?
Bolivar Downtown Development's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Bolivar Downtown Development
Bolivar Downtown Development, as an urban development organization, is committed to driving the revitalization of Downtown Bolivar. Their mission is to actively promote this redevelopment process, working towards transforming the area into a vibrant and thriving community. By taking on this mission, Bolivar Downtown Development aims to contribute significantly to the overall improvement of Downtown Bolivar.
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Impact
October, 2024
Bolivar Downtown Development plays a crucial role in revitalizing and enhancing the downtown area of Bolivar, Tennessee. By focusing on the redevelopment of this central commercial hub, the organization fosters economic growth and community improvement.
The initiative encourages local businesses, attracts new investments, and increases foot traffic, which collectively enhances the vibrancy of downtown. The impact is seen through improved infrastructure, the promotion of small businesses, and the creation of a welcoming environment for residents and visitors alike.
Moreover, the redevelopment efforts contribute to a sense of community pride and identity, making Bolivar a more attractive place to live, work, and visit. This transformation not only bolsters the local economy but also enriches the cultural landscape of the area, leading to a stronger, more connected community.
This information is meant to be a general summary of Bolivar Downtown Development. 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: $17
- Gross Receipts: $977,366
Assets and Liabilities:
- Total Assets: $1,848,859
- Total Liabilities: $85,000
- Net Assets: $1,763,859
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Organization Details
Principal Officer
Scott Ledbetter
Main Address
116 SOUTH MAIN STREET, BOLIVAR, TN, 38008
NTEE Category
Code: S30 - Community improvement
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