Overview
What is Norwich Building Tomorrow Foundation Inc?
Norwich Building Tomorrow Foundation Inc, located at 52 South Broad St, Norwich, NY 13815, is a dedicated nonprofit organization committed to fostering and stimulating economic growth within its community. The foundation's primary mission is to promote and assist in the development of economic concerns in the areas covered by their operations, aiming to enhance the economic well-being of Norwich, NY. The organization has the authority to carry out activities that contribute to the community's economic development and does not have a specific focus on a particular sector or cause, as the information provided does not specify this.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
The Norwich Building Tomorrow Foundation Inc has received a strong rating of 86%, indicating a solid level of accountability and financial health. The rating is driven entirely by its Accountability & Finance score, highlighting the organization's adherence to best practices in governance and finance. An important aspect of its governance is the presence of a majority independent board, which demonstrates a commitment to unbiased decision-making.
The foundation has excelled in several key areas, achieving a perfect score in categories such as independent board member representation and financial statements review. With a program expense ratio of 98.14%, the organization allocates a significant portion of its resources directly to its programs, reflecting an effective use of funds toward its mission.
While the ratings are favorable, they are based solely on one beacon score focused on accountability and finance. This means that aspects such as program impact or community feedback are not evaluated in this score, which could offer a more comprehensive understanding of the foundation's effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Norwich Building Tomorrow Foundation Inc legitimate?
Norwich Building Tomorrow Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Norwich Building Tomorrow 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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Other Salaries and Wages: $0
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What is the mission statement of Norwich Building Tomorrow Foundation Inc?
The Norwich Building Tomorrow Foundation Inc's mission is centered around fostering economic growth and development. The organization has the authority to promote and aid in the expansion of economic concerns within the areas it operates. Its purpose is to contribute to the betterment of the community's economy, aiming to stimulate and support economic development. The foundation plays a role in promoting and facilitating growth in various economic sectors within its operational scope.
Who is the CEO of Norwich Building Tomorrow Foundation Inc?
Martin Dietrich is the Chair of Norwich Building Tomorrow Foundation Inc.
What is the revenue of Norwich Building Tomorrow Foundation Inc?
Norwich Building Tomorrow Foundation Inc's revenue in 2022 was $630,498.
Who are the executives of Norwich Building Tomorrow Foundation Inc and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Norwich Building Tomorrow Foundation Inc?
Norwich Building Tomorrow Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Norwich Building Tomorrow Foundation Inc
Norwich Building Tomorrow Foundation Inc is committed to driving the economic development of its surrounding community. The organization holds the authority to foster and support the expansion of various economic concerns within its operational areas. Its mission is twofold: firstly, to promote the growth of existing economic interests, and secondly, to assist in the development of new economic ventures. By undertaking these tasks, Norwich Building Tomorrow Foundation Inc contributes to the overall prosperity and advancement of its community.
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Impact
July, 2024
Norwich Building Tomorrow Foundation Inc is dedicated to furthering the economic development of the Norwich, NY community and surrounding areas. Through its activities, the organization aims to promote and assist in the growth and development of economic concerns within its operational areas. By providing and promoting the growth of the community in various aspects, Norwich Building Tomorrow Foundation Inc has a significant impact on the overall economic well-being and improvement of the region.
This information is meant to be a general summary of Norwich Building Tomorrow 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: $10,748
- Gross Receipts: $630,498
Assets and Liabilities:
- Total Assets: $890,643
- Total Liabilities: $0
- Net Assets: $890,643
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Organization Details
Founding Year
2010
Phone
(607) 337-6399Principal Officer
Martin Dietrich
Main Address
52 SOUTH BROAD ST, NORWICH, NY, 13815
NTEE Category
Code: S31 - Community improvement
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