Overview
What is Theater Development Council Local Development Corp?
The Theater Development Council Local Development Corp, situated in New York City, primarily focuses on fostering the growth and preservation of theatrical activities within its designated district. This nonprofit organization, located at 120 Broadway, 31st Floor, New York, NY 10271, serves to promote the theater subdistrict's wellbeing and encourage theater-related endeavors. The organization's mission is multifaceted, encompassing the preservation of existing theatrical venues and the encouragement of new theater-related developments within the subdistrict.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50%, One-Star out of Four Star rating.
The Theater Development Council Local Development Corp has received a low rating primarily due to its Accountability & Finance score of 50%. While it has a strong governance structure indicated by perfect scores in board independence and conflict of interest policies, it faces significant challenges regarding its financial performance. Notably, the organization has a program expense ratio of 0.00%, suggesting that it is not allocating resources towards its stated charitable programs.
Additionally, the organization has a liabilities to assets ratio of 5.32%, which did not earn any points in the evaluation. This indicates potential financial instability or inefficiency in managing its resources. While the presence of a whistleblower policy and documentation of board meeting minutes are positive aspects, the overall financial metrics raise concerns about the charity's operational effectiveness and sustainability.
In summary, while the Theater Development Council Local Development Corp demonstrates strong accountability measures, its financial performance and lack of programmatic spending are significant limitations that contribute to its low rating. Prospective donors should carefully consider these factors when evaluating the organization’s impact and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Theater Development Council Local Development Corp legitimate?
Theater Development Council Local Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Theater Development Council Local Development Corp 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 Theater Development Council Local Development Corp?
The Theater Development Council Local Development Corp, referred to as the Theater Subdistrict Council (TSC), is established with a mission to foster the growth and preservation of theater and theater-related activities within its designated area. Their primary objective is to enhance the overall well-being of the theater subdistrict. In simpler terms, the TSC works towards promoting theater and related activities, as well as safeguarding the theater district's interests. This organization is dedicated to enhancing the theater scene and contributing positively to the cultural landscape of the community.
What is the revenue of Theater Development Council Local Development Corp?
Theater Development Council Local Development Corp's revenue in 2024 was $3,758.
Who are the executives of Theater Development Council Local Development Corp and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Theater Development Council Local Development Corp?
Theater Development Council Local Development Corp's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Theater Development Council Local Development Corp
The Theater Development Council Local Development Corp, abbreviated as TSC, is established with a mission to foster and encourage theater and related activities within its designated area, known as the theater subdistrict. The primary objective of this nonprofit organization is to preserve and promote the use of theaters, thereby contributing to the overall welfare of the theater subdistrict. TSC aims to serve as a catalyst for the growth and development of the theater scene, encouraging various theater-related activities that enrich the local community.
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Impact
August, 2024
The Theater Development Council Local Development Corp, operating under the name Theater Subdistrict Council (TSC), plays a significant role in promoting theater and theater-related activities in the theater subdistrict of New York City. By focusing on the preservation, promotion, and overall welfare of the theater subdistrict, the organization helps maintain the cultural vibrancy and artistic heritage of the area. Its impact can be seen in the support and growth of the local theater community, the preservation of historical theaters, and the enhancement of the overall arts scene in the city.
This information is meant to be a general summary of Theater Development Council Local Development Corp. 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: $3,758
- Gross Receipts: $3,758
Assets and Liabilities:
- Total Assets: $206,391
- Total Liabilities: $11,000
- Net Assets: $195,391
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Organization Details
Founding Year
2000
Principal Officer
Dan Garodnick
NTEE Category
Code: A65 - Arts
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