Overview
What is Town Center Inc?
Town Center Inc is a nonprofit organization situated in Trimont, Minnesota. Established in 2015, they opened a grocery store, addressing a significant need for such facilities in the area. The organization's primary mission is to stimulate and sustain economic development and services for the residents of Trimont, Minnesota, and its surrounding community. They raise funds and plan activities to achieve this goal, using the grocery store's profits as a means to support their mission. With a workforce of 45 individuals, Town Center Inc is committed to improving the quality of life and resources for the people in its local area.
Official website here: www.towncenterinc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 1 Star (58%)
Town Center Inc has received a low rating of 58%, resulting in a One-Star out of Four Stars designation. This score reflects serious concerns regarding the charity's accountability and financial practices, particularly due to the absence of financial statements and missing policies related to whistleblowing and document retention. While the organization boasts a majority of independent board members and a solid program expense ratio, the lack of transparency in financial reporting raises significant red flags.
The organization has shown strengths in certain governance areas, such as having a fully independent board and documented meeting minutes. However, the missing financial statements and the high liabilities to assets ratio indicate potential financial instability. The existing policies related to conflicts of interest are a positive note, but they are overshadowed by the absence of crucial governance frameworks that can ensure operational integrity.
Overall, while Town Center Inc demonstrates some good governance practices, the lack of transparency and financial disclosures significantly undermines its accountability. Stakeholders and potential donors may want to proceed with caution given the critical aspects of financial oversight that are currently lacking.
This AI summary has been generated from information found on Charity Navigator.
Is Town Center Inc legitimate?
Town Center Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Town Center 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: $52,413
For more financial information, click here
Official website here: www.towncenterinc.org
What is the mission statement of Town Center Inc?
Town Center Inc's mission is centered around promoting economic development and enhancing community services. The organization's primary goal is to sustain, stimulate, and revitalize the local economy for the benefit of its residents. They achieved this by opening a grocery store in November 2015, which generates profits used to further support their mission. Prior to the grocery store, the community was lacking in this essential service. Furthermore, Town Center Inc continues to raise funds and plan activities to continue its mission of economic development and service enhancement.
Official website here: www.towncenterinc.org
Who is the CEO of Town Center Inc?
Randy Grupe is the President of Town Center Inc.
Official website here: www.towncenterinc.org
What is the revenue of Town Center Inc?
Town Center Inc's revenue in 2022 was $742,500.
Official website here: www.towncenterinc.org
Who are the executives of Town Center Inc and what are their salaries?
The average compensation at Town Center Inc during 2022 was $1,165. There are 45 employees at Town Center Inc.
Here are 10 key members and their salaries:
- Compensation: $0
- 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
- Compensation: $0
- 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.towncenterinc.org
Where can I find the form 990 for Town Center Inc?
Town Center Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.towncenterinc.org
Learn more at the official website: www.towncenterinc.org
Mission Statement of Town Center Inc
Town Center Inc, a nonprofit organization, is committed to enhancing the economic development and improving the services for the local residents of Trimont, Minnesota, and its surrounding area. Their mission is twofold: to sustain the existing economic landscape and stimulate further growth, as well as to provide essential services to enrich the lives of the community members. To achieve this, they opened a grocery store in Trimont, Minnesota, in November 2015. The profits generated from this venture serve as a primary resource, fueling their efforts to revitalize the local economy and enhance the services available to the community. Prior to the grocery store, the residents of Trimont faced a significant lack of grocery store options. Town Center Inc continues to fundraise and plan activities aimed at strengthening the economic development and service provision 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
October, 2024
Town Center Inc has made a significant impact on the community of Trimont, Minnesota, by addressing a critical need for grocery store options in the area. Since opening a grocery store in November 2015, the organization has enhanced access to essential goods for residents, supporting local livelihoods and promoting healthier lifestyles. The profits from the grocery store are reinvested into initiatives that sustain and revitalize economic development and services, further bolstering the local economy. This approach has fostered a sense of community resilience and pride, as residents benefit not only from improved access to necessities but also from ongoing programs that contribute to the overall well-being of the community. Through continuous fundraising and strategic planning, Town Center Inc remains committed to stimulating growth and development in Trimont and its surrounding areas, creating a lasting positive impact.
This information is meant to be a general summary of Town Center 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: -$1,035,743
- Program Service Revenue: $410,938
- Gross Receipts: $2,378,243
Assets and Liabilities:
- Total Assets: $503,224
- Total Liabilities: $445,633
- Net Assets: $57,591
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.
Grocery Retail Sales
Revenue
$410,938
Organization Details
Founding Year
2010
Phone
(507) 736-8405Principal Officer
Randy Grupe
Main Address
PO Box 6, Trimont, MN, 56176
Website
www.towncenterinc.orgNTEE Category
Code: S30 - Community improvement
If you are a representative of Town Center 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.