Overview
What is Valley Economic Development Partners Inc?
Valley Economic Development Partners Inc, also known as Valley Partners, is a nonprofit organization located in Youngstown, Ohio. Their primary mission is to foster economic growth and create employment opportunities by supporting local businesses through loan programs and various services. By establishing strong partnerships with financial institutions, educational organizations, businesses, government entities, and development organizations, Valley Partners attracts investors for new business opportunities. In 2022, they closed 64 loans totaling $6,532,225 and provided 214 small business grants worth $1,965,995. Their mission is to lead in developing employment opportunities through business creation, expansion, and retention in collaboration with other regional organizations, empowering entrepreneurs and contributing to the local economy.
Official website here: www.valleyedp.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating) from Charity Navigator
Valley Economic Development Partners Inc has achieved a high rating primarily due to its accountability and financial practices. With a perfect score on several key beacons such as an independent board and effective financial oversight, the organization demonstrates strong governance, ensuring that donors can trust their contributions are used appropriately.
The charity's emphasis on maintaining low liabilities and high program expenses indicates a commitment to using resources for impactful programming, which is further underscored by its compliance with a comprehensive range of financial and operational policies. However, the absence of scores for leadership, culture, and impact suggests areas where the organization could enhance its transparency and effectiveness measurement.
User reviews from GreatNonprofits were not available to provide additional insights into stakeholder experiences. Overall, while the organization shines in financial accountability, it will benefit from addressing gaps in measurement of broader organizational effectiveness.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Valley Economic Development Partners Inc?
Valley Economic Development Partners Inc has not yet received a rating but has gathered two reviews that express positive sentiments. One reviewer specifically highlights the organization's role in "empowering the economy," indicating a focus on economic enhancement and support within the community.
Though limited in quantity, the enthusiasm present in the feedback suggests that the nonprofit is seen as impactful and beneficial to individuals and businesses alike. This reflects a promising outlook on their initiatives and contributions to economic development.
Overall, the organization shows potential in achieving its mission, and early impressions indicate a supportive reception from those who have engaged with its services.
This AI summary has been generated from reviews found on Facebook.
Is Valley Economic Development Partners Inc legitimate?
Valley Economic Development Partners Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Valley Economic Development Partners 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: $145,334
Professional Fundraising Fees: $0
Other Salaries and Wages: $419,875
For more financial information, click here
Official website here: www.valleyedp.com
What is the mission statement of Valley Economic Development Partners Inc?
Valley Economic Development Partners Inc's mission is centered around fostering entrepreneurship and promoting employment opportunities. They aim to achieve this by collaborating with regional organizations to facilitate business creation, expansion, and retention. Their activities include operating a diverse range of loan programs and other services to cater to the needs of local businesses. Valley Economic Development Partners Inc also maintains strong relationships with various organizations, such as financial institutions, educational centers, businesses, government bodies, and development organizations. They work towards attracting investors for new business opportunities. In 2022, Valley Partners closed 64 loans amounting to $6,532,225 and provided 214 small business grants worth $1,965,995.00, thereby contributing to economic development and employment growth in the region.
Official website here: www.valleyedp.com
Who is the CEO of Valley Economic Development Partners Inc?
Teresa Miller is the Executive Director of Valley Economic Development Partners Inc.
Official website here: www.valleyedp.com
What is the revenue of Valley Economic Development Partners Inc?
Valley Economic Development Partners Inc's revenue in 2022 was $7,559,367.
Official website here: www.valleyedp.com
Who are the executives of Valley Economic Development Partners Inc and what are their salaries?
The average compensation at Valley Economic Development Partners Inc during 2022 was $56,521. There are 10 employees at Valley Economic Development Partners Inc.
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- Compensation: $127,775
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- Other: $17,559
Official website here: www.valleyedp.com
Where can I find the form 990 for Valley Economic Development Partners Inc?
Valley Economic Development Partners Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.valleyedp.com
Learn more at the official website: www.valleyedp.com
Mission Statement of Valley Economic Development Partners Inc
Valley Economic Development Partners Inc, as a leading organization, is committed to fostering employment opportunities through business creation, expansion, and retention. The nonprofit collaborates with various regional organizations to achieve this mission. By promoting economic development, Valley Partners aims to create a conducive environment for businesses, thereby providing ample employment opportunities.
To accomplish its goals, Valley Partners develops and operates a diversified portfolio of loan programs and other services. These initiatives are designed to cater to the unique needs of regional businesses, thereby facilitating their growth and success. The organization also maintains strong relationships with financial, educational, business, government, and development organizations. These collaborations help Valley Partners attract investors for new business opportunities, thereby contributing to the regional economy.
In the year 2022, Valley Partners showcased its impact by closing 64 loans totaling $6,532,225 and providing 214 small business grants worth $1,965,995.00. These financial assistance programs underscore Valley Partners' dedication to supporting businesses, thereby contributing to job creation and economic growth in the region. In essence, Valley Economic Development Partners Inc is a catalyst for regional economic development, leveraging its loan programs and collaborations to create employment opportunities through business growth.
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Impact
October, 2024
Valley Economic Development Partners Inc significantly impacts the regional economy by empowering entrepreneurs and fostering job creation. Through a diversified portfolio of loan programs and support services, the organization promotes economic development by aiding in business creation, expansion, and retention.
In 2022, Valley Economic Development Partners closed 64 loans totaling $6,532,225, alongside providing 214 small business grants amounting to $1,965,995. This demonstrates a tangible commitment to enhancing employment opportunities in the area. The organization also builds strong relationships with financial, educational, business, government, and development entities, attracting investments in new business ventures.
By collaborating with various stakeholders, Valley Economic Development Partners positions itself as a leader in facilitating economic growth, thereby improving the community and contributing to a thriving business ecosystem in Youngstown, Ohio.
This information is meant to be a general summary of Valley Economic Development Partners 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: $661
- Program Service Revenue: $1,184,198
- Gross Receipts: $7,884,421
Assets and Liabilities:
- Total Assets: $34,171,948
- Total Liabilities: $11,398,432
- Net Assets: $22,773,516
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REVOLVING LOAN INTERES
Revenue
$795,611
LOAN SERVICING FEES
Revenue
$388,587
Organization Details
Founding Year
1977
Phone
(330) 759-3668Principal Officer
Teresa Miller
Main Address
4319 BELMONT AVE, YOUNGSTOWN, OH, 44505
Website
www.valleyedp.comNTEE Category
Code: S31Z - Community improvement
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