Overview
What is Madison Riverfront Development Madison Riverfront Development?
Madison Riverfront Development is a nonprofit organization situated in Madison, Indiana, specifically at 641 Green Road 1279. Their primary objective involves stimulating economic growth along the riverfront by hosting events and implementing improvements to the riverfront area. To achieve this goal, they provide financial support to various business projects within their designated zone. Currently, their focus lies on the Riverfront Development project.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, Two-Star out of Four Star rating.
Madison Riverfront Development has received a modest rating of 67% from Charity Navigator, indicating a Two-Star rating. This score reflects the organization’s accountability and finance practices and highlights that it has a high percentage of independent board members, showing a commitment to unbiased governance. The absence of material diversion of assets and a strong program expense ratio suggest efficient financial management focused on its mission.
The organization excels in maintaining a fully independent board, scoring 100% in that area, and demonstrates transparency by documenting board meeting minutes. Additionally, its liabilities to assets ratio is impressively low at 0.02%, which indicates a strong financial position. The program expense ratio of 96.33% signifies that a significant portion of its funding is directed toward its programs rather than administrative costs.
However, while the organization shows strengths in governance and financial health, the overall rating reflects areas where improvement may be necessary to enhance its credibility and impact further. Stakeholders may wish to monitor ongoing developments and future ratings to better understand the organization's overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Madison Riverfront Development Madison Riverfront Development legitimate?
Madison Riverfront Development Madison Riverfront Development is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madison Riverfront Development Madison Riverfront Development 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.
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Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Madison Riverfront Development Madison Riverfront Development?
Madison Riverfront Development's mission revolves around promoting economic growth in its designated area. It achieves this by providing funding for various business projects. One of its current ventures is the riverfront development project. The organization's activities are centered around organizing events on the riverfront and making improvements to enhance its appeal. The ultimate goal is to stimulate the economic development of the riverfront, contributing to the overall prosperity of the area.
Who is the CEO of Madison Riverfront Development Madison Riverfront Development?
James D Pruett is the Director of Madison Riverfront Development Madison Riverfront Development.
What is the revenue of Madison Riverfront Development Madison Riverfront Development?
Madison Riverfront Development Madison Riverfront Development's revenue in 2022 was $827,913.
Who are the executives of Madison Riverfront Development Madison Riverfront Development and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for Madison Riverfront Development Madison Riverfront Development?
Madison Riverfront Development Madison Riverfront Development's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Madison Riverfront Development Madison Riverfront Development
Madison Riverfront Development, in its mission, focuses on providing financial support to various business projects within a designated zone area. This encompasses a wide range of projects, with the current Riverfront Development project being a significant part of its initiatives. The organization's primary goal is to stimulate economic growth in the riverfront area by organizing events on the riverfront and implementing improvements to the area itself. By doing so, Madison Riverfront Development aims to contribute positively to the overall development of the riverfront, thereby enhancing the community's vitality and attractiveness.
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Impact
October, 2024
Madison Riverfront Development has a significant impact on the local economy and community by fostering economic growth through strategic funding for various business projects in the designated zone area. One of its primary initiatives is the Riverfront Development project, which enhances the waterfront area, making it an attractive destination for residents and visitors alike.
The organization plays a crucial role in organizing events along the riverfront, which not only promote community engagement but also stimulate local businesses. The improvements made to the riverfront area create a vibrant environment that encourages tourism and recreation, further contributing to economic development. Overall, Madison Riverfront Development strengthens the community by enhancing public spaces, supporting local entrepreneurship, and fostering a sense of community through events and activities.
This information is meant to be a general summary of Madison Riverfront Development Madison Riverfront Development. 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: $3,197
- Program Service Revenue: $185,091
- Gross Receipts: $827,913
Assets and Liabilities:
- Total Assets: $824,156
- Total Liabilities: $218
- Net Assets: $823,938
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
WINE STEIN & BARREL EVENT
Revenue
$122,482
GOLF CART INCOME
Revenue
$61,500
TELESCOPE INCOME
Revenue
$802
CONVENIENCE FEE
Revenue
$307
Organization Details
Founding Year
1985
Phone
(513) 213-5051Principal Officer
James D Pruett
Main Address
641 GREEN ROAD 1279, MADISON, IN, 47250
NTEE Category
Code: S31 - Community improvement
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