Overview
What is Stark Economic Development Board Inc?
Stark Economic Development Board Inc, located in Canton, Ohio, is a nonprofit organization dedicated to promoting business growth and economic transformation in Stark County. By serving as a bridge to funding sources, such as the Stark County Port Authority and Team NEOhio/JobsOhio, the board assists businesses in attracting, expanding, and retaining investments. With a mission to strengthen the region, the Stark Economic Development Board Inc aims to drive business growth and contribute to Stark County's economic transformation. The organization has a small team of nine dedicated individuals working towards these goals.
Official website here: www.starkcoohio.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating
The Stark Economic Development Board Inc has achieved an impressive 96% rating from Charity Navigator, indicating a strong commitment to accountability and financial transparency. This rating is derived entirely from their high scores in various metrics, showcasing their effective governance practices and financial health. The charity has a 100% independent board, reflecting a robust oversight mechanism.
Strengths highlighted include a solid program expense ratio of 84.23%, which signifies that a significant portion of its resources is directed towards its mission-related activities. Additionally, the organization has demonstrated excellent practices in accountability, with no material diversion of assets noted and comprehensive policies in place, such as a conflict of interest policy and a whistleblower policy.
While the organization shows exceptional financial management and transparency, the data does not disclose any specific limitations or areas for improvement. Overall, the Stark Economic Development Board Inc presents itself as a reliable and effective nonprofit dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Stark Economic Development Board Inc legitimate?
Stark Economic Development Board Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Stark Economic Development Board 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: $237,372
Professional Fundraising Fees: $0
Other Salaries and Wages: $582,140
For more financial information, click here
Official website here: www.starkcoohio.com
What is the mission statement of Stark Economic Development Board Inc?
The Stark Economic Development Board Inc, as an organization, is committed to enhancing its operational area by fostering business growth and spearheading economic transformation. Their mission is to attract, expand, and retain business investments, acting as a bridge to funding sources through the Stark County Port Authority and serving as the local partner for TEAM NO/JOBS Ohio. By doing so, they aim to contribute positively to the economic landscape of the region.
Official website here: www.starkcoohio.com
Who is the CEO of Stark Economic Development Board Inc?
Ray Hexamer is the CEO of Stark Economic Development Board Inc The CEO's salary of Stark Economic Development Board Inc is $197,581 and their total compensation is $240,331.
Official website here: www.starkcoohio.com
What is the revenue of Stark Economic Development Board Inc?
Stark Economic Development Board Inc's revenue in 2024 was $3,350,050.
Official website here: www.starkcoohio.com
Who are the executives of Stark Economic Development Board Inc and what are their salaries?
The average compensation at Stark Economic Development Board Inc during 2024 was $68,293. There are 12 employees and 52 volunteers at Stark Economic Development Board Inc.
Here are 53 key members and their salaries (Stark Economic Development Board Inc's CEO's salary is $197,581 and their total compensation is $240,331):
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- Compensation: $197,581
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- Other: $42,750
Official website here: www.starkcoohio.com
Where can I find the form 990 for Stark Economic Development Board Inc?
Stark Economic Development Board Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.starkcoohio.com
Learn more at the official website: www.starkcoohio.com
Mission Statement of Stark Economic Development Board Inc
Stark Economic Development Board, Inc., is an organization committed to enhancing Stark County's economic landscape. Their primary mission is to catalyze business growth within the region, playing a pivotal role in driving its overall economic transformation. By attracting, expanding, and retaining business investments, this organization serves as a vital catalyst for economic development in Stark County, Ohio. The Stark Economic Development Board, Inc., also acts as a conduit to various funding sources for businesses, leveraging its partnership with the Stark County Port Authority and its role as a local Team NEO/Jobs Ohio partner. This multifaceted approach ensures that businesses in Stark County have the necessary support to thrive and contribute to the region's economic prosperity.
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Impact
October, 2024
Stark Economic Development Board Inc plays a pivotal role in enhancing the economic landscape of Stark County, Ohio, by actively driving business growth and leading the region's economic transformation. By attracting, expanding, and retaining business investments, the organization serves as a critical catalyst for economic vitality in the area.
Through its partnerships with funding sources, such as the Stark County Port Authority and Team NEO/JOBS Ohio, it provides essential support to local businesses, facilitating access to resources that help them thrive. This strategic approach not only fosters individual business success but also contributes to a more robust local economy, bolstering job creation and community development.
Ultimately, the impact of the Stark Economic Development Board is seen in the strengthened economic infrastructure of Stark County, marked by increased investment, enhanced business opportunities, and a vibrant community eager to grow and prosper.
This information is meant to be a general summary of Stark Economic Development Board 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 2024.
- Investment Income: $92,622
- Program Service Revenue: $69,600
- Gross Receipts: $3,350,050
Assets and Liabilities:
- Total Assets: $3,682,250
- Total Liabilities: $731,016
- Net Assets: $2,951,234
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROJECT INCOME
Revenue
$69,600
Organization Details
Founding Year
1985
Principal Officer
Ray Hexamer
Website
www.starkcoohio.comNTEE Category
Code: S32Z - Community improvement
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