Overview
What is Memorial Community Development Corporation?
Memorial Community Development Corporation is a nonprofit organization dedicated to improving living conditions in low-income communities. Their primary focus includes developing and managing affordable housing and fostering economic growth by offering various services. Through job training programs, they aim to empower individuals, ultimately contributing to neighborhood development and providing emergency repair assistance when necessary.
Official website here: www.memorialcdc.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 84% (Three-Star out of Four Star rating)
Memorial Community Development Corporation has received a Three-Star rating based on its strong accountability and finance practices, scoring 84%. The organization demonstrates a commitment to transparency and responsible management, particularly highlighted by its majority independent board and the absence of material asset diversion. Its financial oversight mechanisms, including an audit and oversight committee, contribute positively to its evaluation.
The organization excels in several key areas, such as having a robust program expense ratio of 100% and a favorable liabilities to assets ratio of 14.97%. These metrics indicate effective allocation of resources towards its mission-driven programs. Additionally, the charity maintains proper documentation of board meeting minutes and ensures that financial statements are readily available on its website.
However, there are notable limitations, particularly the absence of a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which are marked as missing in the evaluation. While the overall financial health appears strong, addressing these governance gaps could enhance the organization's credibility and operational integrity moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Memorial Community Development Corporation legitimate?
Memorial Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memorial Community Development Corporation 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: $708,011
For more financial information, click here
Official website here: www.memorialcdc.org
What is the mission statement of Memorial Community Development Corporation?
The Memorial Community Development Corporation is dedicated to providing low-income services and facilitating job training. Their primary mission involves the development and management of affordable housing, as well as fostering economic growth in the community. The organization extends its services to individuals, offering programs in neighborhood development and emergency repairs.
Official website here: www.memorialcdc.org
Who is the CEO of Memorial Community Development Corporation?
Charles Alexander Iii is the President of Memorial Community Development Corporation.
Official website here: www.memorialcdc.org
What is the revenue of Memorial Community Development Corporation?
Memorial Community Development Corporation's revenue in 2022 was $2,891,956.
Official website here: www.memorialcdc.org
Who are the executives of Memorial Community Development Corporation and what are their salaries?
The average compensation at Memorial Community Development Corporation during 2022 was $7,613. There are 93 employees at Memorial Community Development Corporation.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.memorialcdc.org
Where can I find the form 990 for Memorial Community Development Corporation?
Memorial Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.memorialcdc.org
Learn more at the official website: www.memorialcdc.org
Mission Statement of Memorial Community Development Corporation
Memorial Community Development Corporation, in its mission, focuses on two key areas: the development and management of low-income housing, and promoting economic development. The organization achieves this by providing essential services to individuals and offering job training opportunities. Through its neighborhood development and emergency repair programs, Memorial Community Development Corporation strives to improve living conditions for those in need, thereby contributing to the overall betterment of the community. By offering job training, the corporation aims to empower individuals, enabling them to become self-sufficient and contribute positively to society.
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Impact
October, 2024
Memorial Community Development Corporation significantly impacts the Evansville community by focusing on the development and management of low-income housing and fostering economic growth. Through the creation of affordable housing options, it addresses the pressing needs of low-income individuals and families, providing them with stable living environments.
Furthermore, the organization actively promotes economic development by offering essential services, including job training programs that equip individuals with valuable skills for the workforce. This approach not only enhances employment opportunities but also empowers residents to improve their economic situations. Additionally, initiatives in neighborhood development and emergency repair services contribute to maintaining safe and comfortable living conditions in the community.
Overall, Memorial Community Development Corporation plays a crucial role in uplifting the local population by addressing housing needs and supporting job readiness, ultimately fostering a stronger, more resilient community.
This information is meant to be a general summary of Memorial Community Development Corporation. 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: $1,893,361
- Gross Receipts: $2,891,956
Assets and Liabilities:
- Total Assets: $6,275,753
- Total Liabilities: $939,840
- Net Assets: $5,335,913
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROPERTYMANAGEMENT
Revenue
$1,893,361
Organization Details
Founding Year
2003
Phone
(812) 423-2500Principal Officer
Charles Alexander Iii
Main Address
645 CONNIE ROBINSON WAY, Evansville, IN, 47713
Website
www.memorialcdc.orgNTEE Category
Code: P20 - Human services
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