Overview
What is Bay Future Inc?
Bay Future Inc, situated in Bay City, Michigan, is a nonprofit organization with a mission to foster economic development strategies. They aim to retain, grow, and attract new industries, thereby creating high-quality job opportunities for the local community. Their activities are geared towards strengthening the economic environment in Bay County, supporting existing businesses, and promoting market stability. With a team of five dedicated individuals, Bay Future Inc plays an essential role in driving economic growth and job creation within its community.
Official website here: www.bayfuture.com
What are the reviews and ratings of this charity?
Charity Navigator rating: 92% (Four-Star out of Four Star rating)
Bay Future Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting its commitment to accountability and financial health. With a score of 92%, the organization excels particularly in the accountability and finance category, which is crucial for donor trust and transparency. The organization’s fiscal practices, audited and overseen by a dedicated committee, demonstrate a robust commitment to ethical management of funds.
The nonprofit boasts a strong independent board, with 96% of its members being independent, which enhances its governance structure. Additionally, Bay Future Inc maintains a high program expense ratio of 93.05%, indicating that the majority of its funds are directed towards its mission-driven programs rather than administrative overhead. This efficient allocation of resources is a positive aspect, reassuring stakeholders about the organization’s focus on impactful outcomes.
While the data does not highlight specific programmatic achievements, the strong financial practices and governance metrics suggest that Bay Future Inc is well-positioned to fulfill its mission effectively. Overall, the charity’s focus on transparency and responsible financial management contributes to its strong reputation within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Bay Future Inc legitimate?
Bay Future Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bay Future 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: $111,700
Professional Fundraising Fees: $0
Other Salaries and Wages: $112,743
For more financial information, click here
Official website here: www.bayfuture.com
What is the mission statement of Bay Future Inc?
Bay Future Inc is committed to enhancing the economic environment by supporting existing businesses, fostering growth, and promoting market stability. Their mission is to facilitate economic development strategies that secure opportunities for business retention, growth, and the attraction of new industries. These industries are expected to create high-quality job opportunities for the local community.
Official website here: www.bayfuture.com
Who is the CEO of Bay Future Inc?
Trevor Keyes is the Ex-Officio Board Member of Bay Future Inc. The CEO's salary of Bay Future Inc is $111,700 and their total compensation is $111,700.
Official website here: www.bayfuture.com
What is the revenue of Bay Future Inc?
Bay Future Inc's revenue in 2022 was $1,923,474.
Official website here: www.bayfuture.com
Who are the executives of Bay Future Inc and what are their salaries?
The average compensation at Bay Future Inc during 2022 was $44,889. There are 5 employees at Bay Future Inc.
Here are 31 key members and their salaries (Bay Future Inc's CEO's salary is $111,700 and their total compensation is $111,700):
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Official website here: www.bayfuture.com
Where can I find the form 990 for Bay Future Inc?
Bay Future Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bayfuture.com
Learn more at the official website: www.bayfuture.com
Mission Statement of Bay Future Inc
Bay Future Inc is committed to enhancing the economic environment in its operating region. Its primary objective is to support existing businesses, foster growth, and promote stability within the marketplace. The organization is dedicated to implementing economic development strategies that secure opportunities for business retention, expansion, and the attraction of new industries. These initiatives aim to create high-quality job opportunities for local community residents. In essence, Bay Future Inc serves as a catalyst for economic growth and job creation, contributing to the overall prosperity of the community it serves.
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Impact
October, 2024
Bay Future Inc has a significant impact on the economic landscape of Bay County. By focusing on business retention and growth, the organization actively supports existing businesses, nurturing their development and ensuring their stability in the marketplace. This approach not only helps maintain local employment levels but also fosters a thriving economic environment that encourages the attraction of new industries.
Through its strategic facilitation of economic development, Bay Future Inc creates opportunities that lead to the generation of quality jobs for community residents. By promoting and securing initiatives that enhance the local economy, the organization plays a crucial role in improving the overall quality of life in Bay City and its surroundings. Its commitment to community improvement drives sustained economic vitality, ensuring a prosperous future for the region and its residents.
This information is meant to be a general summary of Bay Future 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: $337,308
- Gross Receipts: $1,923,474
Assets and Liabilities:
- Total Assets: $1,152,121
- Total Liabilities: $26,024
- Net Assets: $1,126,097
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PUBLIC SECTOR
Revenue
$208,500
PRIVATE SECTOR
Revenue
$59,124
GRANTS & SPECIAL PROJE
Revenue
$50,000
PASS THROUGH GIFT CARD
Revenue
$10,924
OTHER
Revenue
$8,760
Organization Details
Founding Year
2004
Phone
(989) 892-1400Principal Officer
Trevor Keyes
Main Address
812 N WATER ST, BAY CITY, MI, 487085724
Website
www.bayfuture.comNTEE Category
Code: S31 - Community improvement
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