Overview
What is Fulton Economic Development Corp?
Fulton Economic Development Corp is a nonprofit organization situated in Rochester, Indiana, specifically at 822 Main Street, with a five-strong workforce. Their primary mission is to foster the growth and expansion of small businesses and industries within Fulton County, Indiana. By doing so, they aim to reduce unemployment and underemployment in the region. To achieve this objective, they actively work on developing and supporting local businesses and industries within the county.
Official website here: www.fultondevelopment.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating.
Fulton Economic Development Corp has achieved a solid 81% rating from Charity Navigator, indicating a commendable level of accountability and financial health. The rating reflects a robust performance in several key areas, particularly in its financial management. The organization boasts a high program expense ratio of 88.46%, which suggests that a significant portion of its resources is allocated directly to its programs, demonstrating a strong commitment to its mission.
The organization maintains an independent board structure, with all 13 members being independent, which is a positive indicator of governance practices. Additionally, it has implemented various policies, such as conflict of interest and whistleblower policies, which are crucial for transparency and ethical operations. The absence of material diversion of assets further underscores its integrity in financial practices.
However, while the overall score is strong, it is based solely on the Accountability & Finance beacon, meaning there are no additional ratings on areas such as impact or leadership. This could suggest a potential limitation in how the organization is evaluated, as it does not provide a comprehensive view of its overall effectiveness and programmatic success.
This AI summary has been generated from information found on Charity Navigator.
Is Fulton Economic Development Corp legitimate?
Fulton Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fulton Economic Development 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: $51,448
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,628
For more financial information, click here
Official website here: www.fultondevelopment.org
What is the mission statement of Fulton Economic Development Corp?
The Fulton Economic Development Corp's mission is centered around fostering business and industrial growth within its jurisdiction. Specifically, the organization aims to assist in the development and expansion of small businesses and industries, with the ultimate goal of reducing unemployment and under-employment. In essence, the Fulton Economic Development Corp serves as a catalyst for economic growth and development within its community.
Official website here: www.fultondevelopment.org
Who is the CEO of Fulton Economic Development Corp?
Michael Ladd is the Exec Assistinterim Exec Dire of Fulton Economic Development Corp.
Official website here: www.fultondevelopment.org
What is the revenue of Fulton Economic Development Corp?
Fulton Economic Development Corp's revenue in 2022 was $735,312.
Official website here: www.fultondevelopment.org
Who are the executives of Fulton Economic Development Corp and what are their salaries?
The average compensation at Fulton Economic Development Corp during 2022 was $12,015. There are 5 employees and 7 volunteers at Fulton Economic Development Corp.
Here are 13 key members and their salaries:
- Compensation: $51,448
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Official website here: www.fultondevelopment.org
Where can I find the form 990 for Fulton Economic Development Corp?
Fulton Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.fultondevelopment.org
Learn more at the official website: www.fultondevelopment.org
Mission Statement of Fulton Economic Development Corp
The Fulton Economic Development Corp, as its name suggests, is dedicated to a significant mission. Its primary objective is to foster the growth and expansion of businesses and industries within Fulton County. This nonprofit organization strives to contribute to reducing unemployment and under-employment in the area by providing assistance to small businesses and industries. In essence, the Fulton Economic Development Corp serves as a catalyst for economic development and prosperity within Fulton County.
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Impact
October, 2024
Fulton Economic Development Corp significantly impacts Fulton County by actively fostering business and industry growth. By focusing on the development and expansion of small businesses, the organization plays a crucial role in reducing unemployment and under-employment in the region. Its initiatives aim to create a vibrant economic landscape in Fulton County, particularly in Rochester, Indiana. Through targeted efforts, Fulton Economic Development Corp enhances community improvement, empowering local entrepreneurs and contributing to the overall prosperity of the area.
This information is meant to be a general summary of Fulton Economic Development 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.
- Investment Income: $21,684
- Program Service Revenue: $7,550
- Gross Receipts: $767,682
Assets and Liabilities:
- Total Assets: $1,509,505
- Total Liabilities: $12,738
- Net Assets: $1,496,767
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OLINGER IT
Revenue
$229
JARRETYS PLACE 3
Revenue
$315
GRASS CREEK CATTLE CO
Revenue
$242
SN PIZZA 1
Revenue
$143
OTHER PSR INTEREST
Revenue
$3,252
Organization Details
Founding Year
2010
Principal Officer
Michael Ladd
Main Address
822 MAIN STREET, ROCHESTER, IN, 46975
Website
www.fultondevelopment.orgNTEE Category
Code: S20 - Community improvement
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