Overview
What is Developspringfield Corporation?
DevelopSpringfield Corporation is a nonprofit organization situated in Springfield, Massachusetts, with a primary focus on stimulating and supporting economic growth within the city. Their mission involves facilitating development and redevelopment projects, expediting the revitalization process, and managing necessary facilities and infrastructure. This encompasses the transformation of underutilized or undeveloped areas, thereby contributing to the city's overall development and progress.
Official website here: www.developspringfield.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 78% (Three-Star out of Four Star rating)
Developspringfield Corporation has received a 78% score from Charity Navigator, reflecting a solid level of accountability and financial health. The organization demonstrates transparency with 100% of its board members being independent, which is crucial for unbiased governance. Additionally, the absence of any material diversion of assets and the presence of essential policies like conflict of interest and whistleblower policies highlight its commitment to ethical practices.
Despite its strengths, the program expense ratio stands at 54.79%, indicating that a significant portion of its expenses may not be directly related to its programs. This could be a concern for potential donors looking for nonprofits that prioritize program funding. However, the organization maintains a low liabilities to assets ratio of 13.80%, suggesting that it is financially stable and not overly reliant on debt.
Overall, Developspringfield Corporation displays a commendable level of ethical governance and financial transparency, but potential supporters might want to consider its program funding efficiency when making donations.
This AI summary has been generated from information found on Charity Navigator.
Is Developspringfield Corporation legitimate?
Developspringfield Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Developspringfield 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.
Heare are some key statistics you may want to consider:
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For more financial information, click here
Official website here: www.developspringfield.com
What is the mission statement of Developspringfield Corporation?
The Developspringfield Corporation's mission is centered around promoting development or redevelopment within a specified area. Their primary objective is to facilitate the swift and organized development or redevelopment of properties, including underutilized or undeveloped areas. Furthermore, they are involved in the establishment, operation, and management of necessary facilities and infrastructure. Their activities aim to advance development and redevelopment projects, stimulate economic growth, and expedite the revitalization process within the city.
Official website here: www.developspringfield.com
Who is the CEO of Developspringfield Corporation?
J Jeffrey Sullivan is the Chair of Developspringfield Corporation.
Official website here: www.developspringfield.com
What is the revenue of Developspringfield Corporation?
Developspringfield Corporation's revenue in 2022 was $166,652.
Official website here: www.developspringfield.com
Who are the executives of Developspringfield Corporation and what are their salaries?
There 19 volunteers at Developspringfield Corporation.
Here are 13 key members and their salaries:
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Official website here: www.developspringfield.com
Where can I find the form 990 for Developspringfield Corporation?
Developspringfield Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.developspringfield.com
Learn more at the official website: www.developspringfield.com
Mission Statement of Developspringfield Corporation
Developspringfield Corporation, a notable entity, is committed to aiding development or redevelopment in various sectors of a city. Its mission is multifaceted, focusing on expediting the orderly and swift transformation of property, particularly in underutilized, unused, or undeveloped areas. The corporation's primary objective is to advance development and redevelopment projects, fostering economic growth and revitalization within the city. By managing and operating necessary facilities and infrastructure, Developspringfield Corporation contributes significantly to the overall improvement and progress of the urban landscape.
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Impact
October, 2024
Developspringfield Corporation plays a crucial role in the development and revitalization of Springfield, Massachusetts. By focusing on advancing development and redevelopment projects, the organization stimulates economic growth within the city. Its efforts are directed towards expediting the revitalization process, particularly in unused, underused, or undeveloped areas, which helps to enhance the urban landscape and community infrastructure.
Through its initiatives, Developspringfield Corporation supports the creation and management of essential facilities, which not only improves the quality of life for residents but also attracts new businesses and investments. This, in turn, contributes to a more vibrant economy and community improvement, making Springfield a more attractive place for both locals and newcomers.
This information is meant to be a general summary of Developspringfield 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: -$16,978
- Program Service Revenue: $159,940
- Gross Receipts: $166,652
Assets and Liabilities:
- Total Assets: $6,116,230
- Total Liabilities: $844,463
- Net Assets: $5,271,767
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE INCOME
Revenue
$125,000
OTHER INCOME - SUSPENS
Revenue
$34,700
BILLABLE EXPENSE INCOM
Revenue
$240
Organization Details
Founding Year
2008
Phone
(413) 209-8808Principal Officer
J Jeffrey Sullivan
Main Address
1331 MAIN STREET, SPRINGFIELD, MA, 01103
Website
www.developspringfield.comNTEE Category
Code: S30 - Community improvement
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