Overview
What is East Baltimore Development Foundation Inc?
East Baltimore Development Foundation Inc, established as a Type I supporting organization, is based in Baltimore, Maryland, with an address at 929 N Wolfe Street Suite 1106. Its primary mission is to aid and execute the charitable and educational purposes of its parent organization, East Baltimore Development, Inc. (EBDI). This foundation supports EBDI, a non-stock corporation formed in 2002, whose goal is to revitalize the East Baltimore community by attracting investments, development, population, and educational opportunities. The East Baltimore Revitalization Initiative leverages the world-class healthcare and research facilities in the area, fostering economic growth. As a supporting organization, East Baltimore Development Foundation Inc's activities are exclusively dedicated to furthering the objectives of EBDI.
Official website here: www.ebdi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
The East Baltimore Development Foundation Inc has achieved an excellent rating of 100%, indicating a high level of accountability and financial health. This score reflects the organization's strong governance practices, including a fully independent board and robust policies in place for conflict of interest and whistleblower protections. The foundation demonstrates a commitment to transparency by maintaining a well-documented record of board meeting minutes and accessibility of its financial documents.
In terms of financial management, the organization reports a very low liabilities to assets ratio of 34.18%, suggesting a solid financial footing with manageable debt levels. Additionally, the program expense ratio is impressively high at 97.66%, which indicates that the vast majority of its expenditures are directed toward fulfilling its mission rather than administrative costs. This is a positive sign for donors looking for effective use of their contributions.
While the foundation excels in various aspects of governance and financial management, the available information does not highlight any specific weaknesses or challenges currently facing the organization. Overall, the East Baltimore Development Foundation Inc is positioned as a trustworthy and competent nonprofit dedicated to its cause.
This AI summary has been generated from information found on Charity Navigator.
Is East Baltimore Development Foundation Inc legitimate?
East Baltimore Development Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. East Baltimore Development Foundation Inc 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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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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Official website here: www.ebdi.org
What is the mission statement of East Baltimore Development Foundation Inc?
The East Baltimore Development Foundation Inc., acting as a Type I supporting organization, is dedicated to fulfilling the charitable and educational purposes of its related organization, East Baltimore Development Inc. (EBDI). EBDI, founded in 2002, aims to attract market-oriented investment, development, population, and enterprise to the East Baltimore community. By doing so, they aim to equip community residents with the necessary skills, information, and resources to benefit from new housing, employment, business, and educational opportunities. The East Baltimore Revitalization Initiative leverages the world-class health and research facilities in the area, which anchor and economically power the neighborhood, city, and region.
Official website here: www.ebdi.org
Who is the CEO of East Baltimore Development Foundation Inc?
Cheryl Washington is the President of East Baltimore Development Foundation Inc.
Official website here: www.ebdi.org
What is the revenue of East Baltimore Development Foundation Inc?
East Baltimore Development Foundation Inc's revenue in 2022 was $10,115.
Official website here: www.ebdi.org
Who are the executives of East Baltimore Development Foundation Inc and what are their salaries?
There 1 volunteer at East Baltimore Development Foundation Inc.
There is 1 key member and their salary:
- Compensation: $0
- Related: $271,960
- Other: $23,524
Official website here: www.ebdi.org
Where can I find the form 990 for East Baltimore Development Foundation Inc?
East Baltimore Development Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ebdi.org
Learn more at the official website: www.ebdi.org
Mission Statement of East Baltimore Development Foundation Inc
East Baltimore Development Foundation Inc, as a type I supporting organization, is dedicated to upholding and fulfilling the charitable and educational objectives of its related organization, East Baltimore Development Inc. The mission of East Baltimore Development Foundation Inc involves supporting the initiatives of its parent organization, which was established in 2002 as a non-stock corporation. This related organization, East Baltimore Development Inc, aims to attract market-oriented investment, development, population, and enterprise to the East Baltimore community. It strives to equip community residents with the necessary skills, information, and resources to benefit from new housing, employment, business, and educational opportunities.
East Baltimore Development Foundation Inc's role is instrumental in supporting this mission. By leveraging the world-class health and research facilities that anchor and economically power the neighborhood, city, and region, the foundation seeks to drive development and revitalization in the East Baltimore community. This initiative not only benefits the community but also empowers its residents, providing them with the tools they need to capitalize on the new opportunities that arise from this revitalization.
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Impact
October, 2024
East Baltimore Development Foundation Inc plays a vital role in transforming the East Baltimore community by supporting initiatives that spur economic growth and enhance the quality of life for residents. By facilitating strategic investments and development projects, the Foundation helps attract market-oriented opportunities, including new housing, employment, and educational resources.
One of the key impacts of the Foundation is its focus on equipping community residents with the necessary skills and information to take full advantage of the revitalization efforts. This empowering approach ensures that local residents are not merely bystanders but active participants in the transformation of their neighborhood.
The East Baltimore Revitalization Initiative, anchored by world-class health and research facilities, serves as a catalyst for economic development in the area. By leveraging these assets, the Foundation aids in creating a vibrant community where residents can thrive.
Through its dedicated support of East Baltimore Development, Inc and its initiatives, the Foundation contributes to fostering a sustainable and inclusive economic environment, ultimately leading to enhanced community well-being and cohesion.
This information is meant to be a general summary of East Baltimore Development Foundation Inc. 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: $10,115
- Gross Receipts: $10,115
Assets and Liabilities:
- Total Assets: $2,131,082
- Total Liabilities: $699,729
- Net Assets: $1,431,353
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Organization Details
Founding Year
2008
Phone
(410) 234-0660Principal Officer
Cheryl Washington
Main Address
929 N WOLFE STREET SUITE 1106, BALTIMORE, MD, 21205
Website
www.ebdi.orgNTEE Category
Code: S20 - Community improvement
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