Overview
What is Economic Development Corporation Of New Haven?
The Economic Development Corporation of New Haven is a nonprofit organization situated in New Haven, Connecticut. Its primary objective is to stimulate business growth within the city, encompassing initiatives such as attracting new enterprises and sustaining existing ones. This includes the development of a medical district, housing projects, and support for small businesses. The organization also promotes a bioscience initiative and is involved in the revitalization of the Coliseum site, alongside various other projects. Its mission is to catalyze human and capital investment in New Haven, fostering a prosperous economic climate by retaining and attracting businesses. The corporation has a staff of nine dedicated individuals working towards these goals.
Official website here: www.rexdevelopment.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
The Economic Development Corporation of New Haven has received a 81% rating from Charity Navigator, indicating a solid performance in accountability and finance. This rating is based entirely on a single beacon score, reflecting strong governance practices and financial transparency. The organization has demonstrated an excellent level of board independence with 100% of its members being independent, which enhances its credibility and operational integrity.
Key strengths include a high program expense ratio of 92.24%, meaning the majority of its funding goes directly to its programs rather than administrative costs. Additionally, the organization has established comprehensive policies regarding conflicts of interest, whistleblower protections, and document retention, further solidifying its commitment to ethical governance. The financial statements are audited, ensuring accountability in its financial practices.
However, the organization has a liabilities to assets ratio of 77.58%, which may raise some concerns regarding financial stability. While this indicates a substantial level of liabilities compared to its assets, it's important to consider this in the context of the organization's overall financial health and operational goals. Overall, the Economic Development Corporation of New Haven demonstrates a strong commitment to financial accountability and effective program delivery.
This AI summary has been generated from information found on Charity Navigator.
Is Economic Development Corporation Of New Haven legitimate?
Economic Development Corporation Of New Haven is a legitimate nonprofit organization registered as a 501(c)(3) entity. Economic Development Corporation Of New Haven 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: $332,047
For more financial information, click here
Official website here: www.rexdevelopment.org
What is the mission statement of Economic Development Corporation Of New Haven?
The Economic Development Corporation of an unspecified city aims to establish a thriving business environment. It serves as a catalyst, drawing in human and financial investments, with the goal of retaining existing businesses and attracting new ones. This organization is committed to fostering a favorable economic climate, thereby contributing to the betterment of the city and its neighboring areas. Its initiatives include supporting various business sectors, such as medical districts, housing projects, small businesses, and bioscience initiatives, among others. The Corporation also plays a role in redevelopment projects, including the revitalization of significant sites, like the Coliseum.
Official website here: www.rexdevelopment.org
Who is the CEO of Economic Development Corporation Of New Haven?
Virginia Kozlowski is the CEO of Economic Development Corporation Of New Haven The CEO's salary of Economic Development Corporation Of New Haven is $127,846 and their total compensation is $127,846.
Official website here: www.rexdevelopment.org
What is the revenue of Economic Development Corporation Of New Haven?
Economic Development Corporation Of New Haven's revenue in 2023 was $668,117.
Official website here: www.rexdevelopment.org
Who are the executives of Economic Development Corporation Of New Haven and what are their salaries?
The average compensation at Economic Development Corporation Of New Haven during 2023 was $83,012. There are 4 employees at Economic Development Corporation Of New Haven.
Here are 5 key members and their salaries (Economic Development Corporation Of New Haven's CEO's salary is $127,846 and their total compensation is $127,846):
- Compensation: $127,846
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.rexdevelopment.org
Where can I find the form 990 for Economic Development Corporation Of New Haven?
Economic Development Corporation Of New Haven's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.rexdevelopment.org
Learn more at the official website: www.rexdevelopment.org
Mission Statement of Economic Development Corporation Of New Haven
The Economic Development Corporation of New Haven is dedicated to establishing a thriving business environment in an unspecified city. This organization serves as a driving force, stimulating human and financial investment in the city and its surrounding neighborhoods. Its primary objective is to retain existing businesses and attract new ones, thereby fostering a favorable economic climate. In pursuit of this mission, the Economic Development Corporation of New Haven actively engages in various initiatives, such as supporting small businesses, nurturing a bioscience initiative, and redeveloping key projects like the Coliseum site. Its ultimate goal is to contribute to the city's overall economic vitality.
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Impact
October, 2024
The Economic Development Corporation of New Haven plays a crucial role in shaping the economic landscape of New Haven, Connecticut. By fostering a vibrant business environment, it serves as a catalyst for attracting both human and capital investment to the city and its neighborhoods. This organization is dedicated to retaining and attracting businesses, which is essential for enhancing local economic growth and creating job opportunities.
Through various initiatives, including those focusing on small businesses, a medical district, housing projects, and bioscience support, the corporation actively works to improve the community's economic climate. The redevelopment of the Coliseum site and other targeted projects further exemplifies its commitment to long-term urban revitalization.
Overall, the corporation's efforts not only bolster existing businesses but also attract new enterprises, thereby contributing to the sustainability and growth of New Haven's economy. This comprehensive approach to economic development is vital for creating a thriving community where residents can thrive and businesses can flourish.
This information is meant to be a general summary of Economic Development Corporation Of New Haven. 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: $28
- Program Service Revenue: $218,522
- Gross Receipts: $668,117
Assets and Liabilities:
- Total Assets: $1,069,144
- Total Liabilities: $829,482
- Net Assets: $239,662
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Economic Development S
Revenue
$218,522
Organization Details
Founding Year
2008
Principal Officer
Virginia Kozlowski
Website
www.rexdevelopment.orgNTEE Category
Code: S30 - Community improvement
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