Overview
What is Scotland County Economic Development Corporation?
Scotland County Economic Development Corporation is a nonprofit organization situated in Laurinburg, North Carolina, specifically at 517 Peden Street. Their primary mission is to foster the economic growth of Scotland County and the City of Laurinburg. They achieve this by attracting new businesses, creating job opportunities, and investing in infrastructure. This investment aims to stimulate economic growth and enhance the well-being of the community's citizens. The corporation's activities include recruiting businesses, encouraging job creation, and supporting infrastructure development.
Official website here: www.scotlandcountyedc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52%, One-Star out of Four Star Rating.
The Scotland County Economic Development Corporation has received a low rating of 52%, indicating significant challenges in its accountability and financial practices. While the organization excels in certain areas, such as maintaining a fully independent board and following policies for document retention and conflict of interest, it has notable weaknesses, particularly in its financial transparency and program expense efficiency.
One major limitation is the absence of a whistleblower policy and the failure to post its tax forms on its website, which raises concerns about transparency. Additionally, the organization reports a low program expense ratio of 39.88%, suggesting that a relatively small portion of its resources is devoted to its programs, which could impact its overall effectiveness in fulfilling its mission.
Despite these shortcomings, the organization demonstrates a commitment to governance with a majority of board members being independent and no reported diversion of assets. Stakeholders may want to consider these factors when evaluating the overall impact and reliability of the Scotland County Economic Development Corporation.
This AI summary has been generated from information found on Charity Navigator.
Is Scotland County Economic Development Corporation legitimate?
Scotland County Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Scotland County Economic Development Corporation 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.
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Official website here: www.scotlandcountyedc.org
What is the mission statement of Scotland County Economic Development Corporation?
The Scotland County Economic Development Corporation is committed to fostering the growth of its local economy. This is achieved by attracting new businesses, increasing the number of job opportunities, and investing in infrastructure to stimulate economic growth and create more jobs. The corporation aims to facilitate development and improvement in business properties, thereby contributing to the overall welfare of the community's citizens. Its mission is to promote economic growth and development in Scotland County, ultimately enhancing the quality of life for its residents.
Official website here: www.scotlandcountyedc.org
Who is the CEO of Scotland County Economic Development Corporation?
Kevin Patterson is the Vice President of Scotland County Economic Development Corporation.
Official website here: www.scotlandcountyedc.org
What is the revenue of Scotland County Economic Development Corporation?
Scotland County Economic Development Corporation's revenue in 2022 was $568,214.
Official website here: www.scotlandcountyedc.org
Who are the executives of Scotland County Economic Development Corporation and what are their salaries?
Here are 11 key members and their salaries:
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Official website here: www.scotlandcountyedc.org
Where can I find the form 990 for Scotland County Economic Development Corporation?
Scotland County Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.scotlandcountyedc.org
Learn more at the official website: www.scotlandcountyedc.org
Mission Statement of Scotland County Economic Development Corporation
Scotland County Economic Development Corporation, abbreviated as SCEDC, is dedicated to fostering the growth of its local economy. This mission is accomplished by attracting new businesses, stimulating job creation, and encouraging investments in business properties and infrastructure. The primary objective of SCEDC is to catalyze economic growth in Scotland County and the City of Laurinburg, thereby improving the overall well-being of its citizens. By promoting job opportunities and investing in business development, SCEDC aims to create a thriving and sustainable local economy.
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Impact
July, 2024
Scotland County Economic Development Corporation has made a significant impact on the local economy of Scotland County and the City of Laurinburg by actively recruiting new businesses, increasing job opportunities, and encouraging infrastructure investment. This has not only led to job creation but also stimulated economic growth in the region. Through its efforts, the organization has bolstered the overall welfare of the community by promoting sustainable development and improving opportunities for all citizens of Scotland County and the City of Laurinburg.
This information is meant to be a general summary of Scotland County Economic Development Corporation. 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: $368
- Gross Receipts: $568,214
Assets and Liabilities:
- Total Assets: $5,488,276
- Total Liabilities: $1,537,506
- Net Assets: $3,950,770
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Organization Details
Founding Year
2008
Phone
(910) 266-4326Principal Officer
Kevin Patterson
Main Address
517 Peden Street, Laurinburg, NC, 28352
Website
www.scotlandcountyedc.orgNTEE Category
Code: J990 - Employment
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