Overview
What is Franklinton Development Association?
The Franklinton Development Association is a community development corporation situated in Columbus, Ohio. With a dedicated workforce of two individuals, their primary mission is to revitalize the Franklinton neighborhood by creating affordable housing and facilitating commercial development projects. This strategic approach aims to stimulate economic growth within the community. The association serves as a catalyst for positive change, working tirelessly to enhance the living conditions and opportunities for the residents of Franklinton.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star rating)
The Franklinton Development Association has received a Three-Star rating from Charity Navigator, indicating a satisfactory level of accountability and finance. The charity's overall score is based entirely on its accountability and finance metrics, which scored 75%. This rating reflects a solid commitment to transparency and responsible financial management, critical factors for donor trust.
Among its strengths, the organization boasts a fully independent board, which adds to its governance credibility. The board consists of seven independent members, and it has demonstrated strong oversight with a well-structured audit and oversight committee. The charity has also effectively implemented policies for conflict of interest, document retention, and destruction, further enhancing its operational integrity.
However, the organization faces challenges related to its liabilities to assets ratio, which received no points in that category, indicating potential financial concerns that could affect its sustainability. Despite these limitations, the high program expense ratio of 80.76% highlights a strong commitment to its mission and programmatic activities, suggesting that a significant portion of its resources is directed toward fulfilling its charitable objectives.
This AI summary has been generated from information found on Charity Navigator.
Is Franklinton Development Association legitimate?
Franklinton Development Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Franklinton Development Association 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: $90,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $56,000
For more financial information, click here
What is the mission statement of Franklinton Development Association?
The Franklinton Development Association serves as a community development corporation, with a mission to spearhead the revitalization of a specific neighborhood by creating affordable housing and fostering commercial development. This initiative aims to stimulate economic growth. In simpler terms, the association's primary goal is to enhance the living conditions and promote economic prosperity within the community by constructing affordable homes and facilitating commercial development projects.
Who is the CEO of Franklinton Development Association?
Carlie Boos is the President of Franklinton Development Association.
What is the revenue of Franklinton Development Association?
Franklinton Development Association's revenue in 2022 was $576,639.
Who are the executives of Franklinton Development Association and what are their salaries?
The average compensation at Franklinton Development Association during 2022 was $73,000. There are 2 employees at Franklinton Development Association.
Here are 8 key members and their salaries:
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- Compensation: $90,000
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Where can I find the form 990 for Franklinton Development Association?
Franklinton Development Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Franklinton Development Association
The Franklinton Development Association, as a community development corporation, is committed to revitalizing the Franklinton neighborhood in Columbus, Ohio. Their mission is twofold: firstly, they aim to create affordable housing within the community, providing a much-needed solution for residents seeking affordable living options. Secondly, they focus on promoting commercial development projects, thereby fostering economic growth in the area. By undertaking these initiatives, the Franklinton Development Association seeks to contribute positively to the neighborhood's overall development and improvement.
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Impact
July, 2024
Franklinton Development Association's impact can be seen in the revitalization of the Franklinton neighborhood in Columbus, Ohio. Through their efforts to create affordable housing and promote commercial development projects, they are driving economic growth in the community. Their work is not only transforming the physical landscape of the neighborhood but also providing opportunities for residents to thrive. The organization's commitment to community improvement is evident in the positive changes taking place in Franklinton.
This information is meant to be a general summary of Franklinton Development Association. 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: $2,200
- Program Service Revenue: $217,204
- Gross Receipts: $576,639
Assets and Liabilities:
- Total Assets: $7,750,057
- Total Liabilities: $6,581,534
- Net Assets: $1,168,523
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTALS
Revenue
$133,342
ACCRUED INTEREST INCOME
Revenue
$62,859
DEVELOPER FEES
Revenue
$21,003
Organization Details
Founding Year
1993
Phone
(614) 275-4988Principal Officer
Carlie Boos
Main Address
1091 WEST BROAD STREET, COLUMBUS, OH, 43222
NTEE Category
Code: S20Z - Community improvement
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