Overview
What is 2523 Market Corp?
2523 Market Corp is a nonprofit organization established in Cleveland, Ohio. Their primary focus is on neighborhood revitalization, accomplishing this by renting out commercial spaces at reduced rates to local businesses. Beyond this, they also contribute to community enhancement by redeveloping and maintaining parking lots. This proactive approach aims to breathe new life into the surrounding areas, thereby promoting economic growth and development.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%
2523 Market Corp has received a Three-Star out of Four Star rating from Charity Navigator, reflecting a score of 79%. This rating is based solely on the Accountability & Finance category, which emphasizes the organization’s financial health and commitment to transparency. A strong emphasis on these aspects is crucial for donor confidence and organizational sustainability.
The organization demonstrates notable strengths in accountability practices, boasting a fully independent board of directors and a comprehensive set of governance policies, including conflict of interest and whistleblower policies. Additionally, 100% of its expenses are directed towards programs, indicating efficient allocation of resources. These factors contribute positively to its overall score, showcasing the organization's commitment to responsible financial management.
However, there is a concerning aspect regarding the liabilities to assets ratio, which stands at 79.23%, scoring no points in this area. This indicates potential financial risks which could affect the organization's stability in the long run. Overall, while 2523 Market Corp shows solid governance and program focus, attention to its financial liabilities may be necessary for future growth and security.
This AI summary has been generated from information found on Charity Navigator.
Is 2523 Market Corp legitimate?
2523 Market Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. 2523 Market 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of 2523 Market Corp?
2523 Market Corp's mission revolves around neighborhood revitalization. They accomplish this by providing commercial spaces to businesses at rates lower than the market average. Furthermore, they engage in the redevelopment and maintenance of parking lots, contributing to the overall enhancement of the community. This organization's work is aimed at revitalizing neighborhoods, ultimately promoting the growth and prosperity of the community as a whole.
Who is the CEO of 2523 Market Corp?
Thomas Mcnair is the Executive Di of 2523 Market Corp.
What is the revenue of 2523 Market Corp?
2523 Market Corp's revenue in 2022 was $1,125,830.
Who are the executives of 2523 Market Corp and what are their salaries?
There 4 volunteers at 2523 Market Corp.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $116,290
- Other: $2,812
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for 2523 Market Corp?
2523 Market Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of 2523 Market Corp
2523 Market Corp, as a mission-driven organization, focuses on neighborhood revitalization. They accomplish this by leasing commercial spaces to businesses at reduced rates, providing them with an opportunity to thrive in their community. Additionally, the corporation takes an active role in redeveloping and maintaining parking lots, enhancing the overall appearance and functionality of the neighborhood. By doing so, 2523 Market Corp contributes to the betterment of the community, creating an environment that is conducive to growth and development.
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Impact
October, 2024
2523 Market Corp plays a crucial role in neighborhood revitalization in Cleveland, Ohio. By renting spaces to businesses at below-market rates, it fosters entrepreneurship and supports local economies, making it easier for small businesses to thrive. This strategic approach not only helps sustain local commerce but also stimulates job creation within the community.
Furthermore, the organization focuses on the redevelopment and maintenance of parking lots, which enhances the overall aesthetic and functionality of the neighborhood. Improved facilities not only boost community pride but also attract visitors, contributing to a vibrant and engaging atmosphere.
Overall, 2523 Market Corp facilitates community improvement and fosters a sense of belonging, ultimately leading to a more sustainable and resilient neighborhood.
This information is meant to be a general summary of 2523 Market 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 2022.
- Program Service Revenue: $270,103
- Gross Receipts: $1,125,830
Assets and Liabilities:
- Total Assets: $1,289,788
- Total Liabilities: $963,217
- Net Assets: $326,571
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$270,103
Organization Details
Founding Year
1981
Phone
(216) 781-3222Principal Officer
Thomas Mcnair
Main Address
3308 LORAIN AVENUE, CLEVELAND, OH, 44113
NTEE Category
Code: S30Z - Community improvement
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