Overview
What is Center City Development Corporation?
The Center City Development Corporation, situated in Richmond, Indiana, serves as a catalyst for downtown revitalization. With a modest workforce of just two individuals, they actively promote the area's growth through various means. Primarily, they provide loans to encourage development and offer consulting services to help improve downtown facilities. Additionally, they organize special events to attract foot traffic, thereby enhancing the overall appeal of the downtown area. The corporation's mission is to revitalize downtown Richmond, making it a more vibrant and attractive destination.
Official website here: www.richmondinnovates.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Stars
The Center City Development Corporation has achieved an impressive score of 96%, which signifies a high level of accountability and financial health. This rating is derived entirely from their performance in the Accountability & Finance beacon, indicating robust practices in these areas. The organization has received perfect scores in several metrics, including having a fully independent board and no material diversion of assets, which enhances its credibility.
Strengths of the organization include its strong governance practices, evident from its conflict of interest and whistleblower policies, both of which are in place. Additionally, the organization maintains a healthy liabilities-to-assets ratio and a high program expense ratio, showing that a significant portion of its funds is directed toward its mission-driven activities. This comprehensive adherence to best practices contributes to its overall positive standing in the nonprofit sector.
While the data highlights many strengths, the overall rating does not reflect qualitative measures such as community impact or user satisfaction, which are also important for a holistic evaluation. Nonetheless, the financial indicators and governance practices suggest that the Center City Development Corporation is well-managed and committed to transparency and accountability in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Center City Development Corporation legitimate?
Center City Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Center City Development Corporation 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: $70,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.richmondinnovates.com
What is the mission statement of Center City Development Corporation?
The Center City Development Corporation is committed to revitalizing downtown areas, specifically in this context, Richmond. They achieve this mission by offering loans, providing consulting services for improvements, and organizing special events. The primary objective is to increase foot traffic in the revitalized area, thereby contributing to its overall development and attractiveness. The corporation's activities aim to enhance the downtown area, making it a more vibrant and appealing destination for residents and visitors alike.
Official website here: www.richmondinnovates.com
Who is the CEO of Center City Development Corporation?
Renee Doty is the President of Center City Development Corporation.
Official website here: www.richmondinnovates.com
What is the revenue of Center City Development Corporation?
Center City Development Corporation's revenue in 2022 was $68,923.
Official website here: www.richmondinnovates.com
Who are the executives of Center City Development Corporation and what are their salaries?
The average compensation at Center City Development Corporation during 2022 was $35,000. There are 2 employees and 98 volunteers at Center City Development Corporation.
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- Compensation: $70,000
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Official website here: www.richmondinnovates.com
Where can I find the form 990 for Center City Development Corporation?
Center City Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.richmondinnovates.com
Learn more at the official website: www.richmondinnovates.com
Mission Statement of Center City Development Corporation
The Center City Development Corporation, a nonprofit organization, is dedicated to revitalizing the downtown area. They accomplish this mission through various strategies. Primarily, they provide loans to aid in the improvement of buildings and facilities within the downtown sector. Furthermore, they offer consulting services to help guide these improvement projects, ensuring they contribute positively to the overall revitalization effort. Moreover, the corporation organizes special events designed to draw more foot traffic to the downtown area, thereby fostering a more vibrant and active community.
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Impact
August, 2024
The Center City Development Corporation plays a crucial role in driving the revitalization of downtown Richmond. Through its strategic initiatives such as providing loans, offering consulting services on improvements, and organizing special events to boost foot traffic, the organization significantly contributes to the enhancement and vibrancy of the community. Their proactive approach fosters economic growth, creates a more inviting urban environment, and helps to attract both residents and visitors to the city center. Overall, the impact of the Center City Development Corporation on Richmond's downtown area is integral to its ongoing revitalization and progress.
This information is meant to be a general summary of Center City Development Corporation. 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: $677
- Program Service Revenue: $74,998
- Gross Receipts: $139,385
Assets and Liabilities:
- Total Assets: $602,956
- Total Liabilities: $310,015
- Net Assets: $292,941
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INCUBATOR RENT PROGRAM
Revenue
$66,917
OTHER
Revenue
$5,881
PUMPKIN TRAIL INCOME
Revenue
$2,200
Organization Details
Founding Year
1987
Phone
(765) 962-8151Principal Officer
Renee Doty
Main Address
814 EAST MAIN STREET, RICHMOND, IN, 47374
Website
www.richmondinnovates.comNTEE Category
Code: S200 - Community improvement
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