Overview
What is Washburn Park Inc?
Washburn Park Inc is a nonprofit organization situated at 100 Institute Road, Worcester, MA 01609. Their primary mission is to aid in the economic development of distressed areas by offering office space, infrastructure, and parking facilities. This initiative relieves the burden of government and contributes to combating community deterioration, specifically in reclaimed brownfields. The organization operates exclusively for charitable purposes, focusing on uplifting the economic landscape of distressed areas through their facilities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star Rating, 64%)
Washburn Park Inc has received a Two-Star rating from Charity Navigator, reflecting a need for improvement in various areas of accountability and finance. The organization scored 64% overall, indicating that while it shows some strengths, there are significant areas that require attention, particularly in governance and board independence.
One notable strength is the organization’s program expense ratio, which stands at an impressive 100%. This suggests that all of its expenditures are directed towards program services, a positive indicator of its commitment to fulfilling its mission. However, the lack of independent board members is a serious concern, as it scored 0% in both the majority independent board members and independent board size categories. This raises questions about potential conflicts of interest and the effectiveness of oversight.
Additional limitations include the absence of a publicly accessible website and the posting of tax forms, which were both marked as missing. While Washburn Park Inc has policies in place for conflict of interest, whistleblowing, and document retention, the low score for liabilities to assets indicates potential financial risks that could impact the organization's stability and trustworthiness in the eyes of donors.
This AI summary has been generated from information found on Charity Navigator.
Is Washburn Park Inc legitimate?
Washburn Park Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Washburn Park 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Washburn Park Inc?
Washburn Park Inc's mission is centered around operating for charitable purposes, primarily focusing on economic development. They achieve this by providing essential office space, infrastructure, and parking facilities in a distressed area. This initiative aims to alleviate the burden on government resources, thereby contributing to the economic growth of the area. By offering such facilities, Washburn Park Inc plays a vital role in combating community deterioration, promoting development in reclaimed brownfields, and ultimately, aiding in the revitalization of the distressed area.
Who is the CEO of Washburn Park Inc?
Jinliu Wang is the Principal Officer of Washburn Park Inc.
What is the revenue of Washburn Park Inc?
Washburn Park Inc's revenue in 2022 was $492,483.
Who are the executives of Washburn Park Inc and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $1,905,265
- Other: $100,018
- Compensation: $0
- Related: $738,198
- Other: $43,552
- Compensation: $0
- Related: $148,280
- Other: $39,042
- Compensation: $0
- Related: $564,121
- Other: $104,990
- Compensation: $0
- Related: $194,712
- Other: $22,211
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Washburn Park Inc?
Washburn Park Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Washburn Park Inc
Washburn Park Inc, a nonprofit organization, is committed to operating exclusively for charitable purposes. Its mission is to contribute to economic development by providing office space, infrastructure, and parking facilities in a distressed area. By doing so, Washburn Park Inc aims to alleviate the burden of government, offering much-needed aid in the reclamation of brownfields. This initiative not only combats community deterioration but also plays a significant role in promoting economic growth in the area.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Washburn Park Inc's impact is significant in providing office space, infrastructure, and parking facilities in a distressed area. By owning and operating an office building and an 880-space garage facility, Washburn Park Inc aids in the economic development of the community, specifically focusing on reclaimed brownfields in an economically distressed area. This organization's efforts lessen the burden on the government and help combat community deterioration by creating opportunities for businesses to thrive in an area that may have otherwise been neglected. Washburn Park Inc's mission to assist economic development through its charitable activities is instrumental in revitalizing the community and promoting public benefit.
This information is meant to be a general summary of Washburn Park 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.
- Program Service Revenue: $492,483
- Gross Receipts: $492,483
Assets and Liabilities:
- Total Assets: $37,099,195
- Total Liabilities: $10,848,650
- Net Assets: $26,250,545
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LEASE OF OFFICE SPACE
Revenue
$253,378
PARKING LEASE INCOME
Revenue
$239,105
Organization Details
Founding Year
2009
Phone
(508) 831-5000Principal Officer
Jinliu Wang
Main Address
100 INSTITUTE ROAD, WORCESTER, MA, 01609
NTEE Category
Code: W02 - Public benefit
If you are a representative of Washburn Park Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.