Overview
What is Valparaiso Economic Development Corp?
Valparaiso Economic Development Corporation is a nonprofit organization situated within Valparaiso and Porter County. Its primary objective is to foster economic growth by actively engaging in business attraction and retention initiatives. This mission is carried out through various activities, ensuring a thriving business environment within the specified area. The corporation's role is essential in maintaining a vibrant economic landscape, contributing to the overall prosperity of the region.
Official website here: www.valpoedc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 74%)
The Valparaiso Economic Development Corp has received a "Needs Improvement" rating from Charity Navigator, scoring 74%. This rating reflects a solid performance in certain areas such as having a fully independent board and no material diversion of assets, indicating a commitment to governance and accountability. The organization also has a favorable liabilities to assets ratio, which suggests sound financial management.
However, there are notable weaknesses that impact the overall score. The absence of a whistleblower policy and a document retention and destruction policy raises concerns about transparency and accountability practices. While the organization maintains meeting minutes, the lack of these critical policies may hinder its effectiveness in oversight and ethical governance.
Additionally, the program expense ratio of 65.48% indicates that a significant portion of expenses is directed towards program activities, which is generally a positive sign. Still, the overall rating suggests that while the organization is operationally sound, it must address its governance policies to enhance its credibility and trustworthiness within the community.
This AI summary has been generated from information found on Charity Navigator.
Is Valparaiso Economic Development Corp legitimate?
Valparaiso Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Valparaiso Economic Development Corp 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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Official website here: www.valpoedc.com
What is the mission statement of Valparaiso Economic Development Corp?
The Valparaiso Economic Development Corporation's primary objective is to facilitate business attraction and retention within its operational area, which encompasses Valparaiso and Porter County. The corporation is dedicated to promoting economic growth, serving as an instrumental entity in this mission. Its activities are geared towards ensuring a thriving business environment, thereby contributing to the overall economic well-being of the region.
Official website here: www.valpoedc.com
What is the revenue of Valparaiso Economic Development Corp?
Valparaiso Economic Development Corp's revenue in 2023 was $143,460.
Official website here: www.valpoedc.com
Who are the executives of Valparaiso Economic Development Corp and what are their salaries?
There 20 volunteers at Valparaiso Economic Development Corp.
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Official website here: www.valpoedc.com
Where can I find the form 990EZ for Valparaiso Economic Development Corp?
Valparaiso Economic Development Corp's most recent form 990EZ was submitted in 2023 and can be accessed here.
Official website here: www.valpoedc.com
Learn more at the official website: www.valpoedc.com
Mission Statement of Valparaiso Economic Development Corp
Valparaiso Economic Development Corporation, abbreviated asVEDC, is dedicated to carrying out activities that foster business attraction and retention within the Valparaiso and Porter County area. The organization's primary objective is to promote economic growth in this region. By engaging in activities that support both new and existing businesses, VEDC plays a crucial role in stimulating the local economy and creating opportunities for sustainable growth. The corporation's mission is to ensure a thriving business environment, which ultimately benefits the community as a whole.
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Impact
October, 2024
Valparaiso Economic Development Corporation plays a vital role in fostering economic growth in Valparaiso and the surrounding Porter County area. By focusing on business attraction and retention, the organization implements strategies that create a favorable environment for existing businesses while also enticing new companies to establish operations in the region.
The corporation's efforts not only support the local economy by creating jobs and enhancing the workforce, but they also contribute to community improvement through increased commerce and investment. By prioritizing economic development, the Valparaiso Economic Development Corporation helps ensure a sustainable future for the area, enhancing the quality of life for residents and ensuring that the community thrives as a competitive hub for business.
This information is meant to be a general summary of Valparaiso Economic Development Corp. 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 2023.
- Investment Income: $10
- Gross Receipts: $143,460
Assets and Liabilities:
- Total Assets: $59,998
- Total Liabilities: $7,660
- Net Assets: $52,338
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Organization Details
Founding Year
1984
Principal Officer
Rex Richards
Website
www.valpoedc.comNTEE Category
Code: S31Z - Community improvement
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