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Allen County Fort Wayne Development Trust Inc

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 352090277 ✦ Fort wayne, IN ✦ Designated as a 501(c)(3)

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Overview

What is Allen County Fort Wayne Development Trust Inc?

The Allen County-Fort Wayne Development Trust Inc, based in Fort Wayne, Indiana, is a nonprofit organization dedicated to advancing revitalization and promoting new economic development in the Allen County-Fort Wayne area. In 2022, they concluded their role in two local projects, acting as a financial convenor for Electric Works and The Landing redevelopment. Additionally, they started pre-development interests in key southeast Fort Wayne parcels, leading to option agreements, survey work, and environmental testing activities.

What are the reviews and ratings of this charity?

Charity Navigator Rating: Needs Improvement

Allen County Fort Wayne Development Trust Inc has received a two-star rating from Charity Navigator, indicating a need for improvement despite strong performance in accountability and finance. The organization scored 100% in several categories related to governance, such as having a majority of independent board members and a solid conflict of interest policy, reflecting good oversight practices.

However, the organization struggles significantly in transparency and financial reporting, with a score of 0 out of 15 for financial statements and several other categories related to documentation and policy posting. These weaknesses suggest that while the organization manages its finances well, it may not be effectively communicating that information to the public or maintaining adequate operational policies.

Addressing these transparency issues could enhance the trust and confidence of stakeholders and potential donors. Overall, while the organization demonstrates strong governance practices, the lack of adequate financial disclosure and missing policies represent critical areas that need attention for improvement.


This AI summary has been generated from information found on Charity Navigator.

Is Allen County Fort Wayne Development Trust Inc legitimate?

Allen County Fort Wayne Development Trust Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Allen County Fort Wayne Development Trust 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here

What is the mission statement of Allen County Fort Wayne Development Trust Inc?

The Allen County Fort Wayne Development Trust Inc is dedicated to promoting economic revitalization and development within its area of focus. The organization facilitates real estate acquisitions, redevelopment, rehabilitation, and construction projects of strategic significance that foster new economic growth. In 2022, the Trust moved closer to completing its role in two local projects and started pre-development interests in key parcel sites, leading to option agreements, survey work, and environmental testing activities.

Who is the CEO of Allen County Fort Wayne Development Trust Inc?

Robert S Walters is the President of Allen County Fort Wayne Development Trust Inc.

What is the revenue of Allen County Fort Wayne Development Trust Inc?

Allen County Fort Wayne Development Trust Inc's revenue in 2022 was $25,744,288.

Who are the executives of Allen County Fort Wayne Development Trust Inc and what are their salaries?

There 15 volunteers at Allen County Fort Wayne Development Trust Inc.


Here are 12 key members and their salaries:


Robert S Walters (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Trois Hart (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Karl Bandemer (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Michael J Erler Sr (Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Richard Beck (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kylee Shirey (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Damian Gosheff (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Heather Presley-Cowen (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Tim Smith (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Ellen Cutter (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Charles Heiny (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Susan Wesner (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Allen County Fort Wayne Development Trust Inc?

Allen County Fort Wayne Development Trust Inc's most recent form 990 was submitted in 2022 and can be accessed here.

Mission Statement of Allen County Fort Wayne Development Trust Inc

The Allen County Fort Wayne Development Trust Inc is a nonprofit organization dedicated to advancing current and future revitalization in the Allen County-Fort Wayne area. Through facilitating real estate acquisition, redevelopment, rehabilitation, and construction in projects of strategic significance, the Trust promotes new economic development or redevelopment in the community.

In 2022, the Trust made significant strides in concluding its role in two local projects - acting as a financial convenor for Electric Works and the Landing Redevelopment. Additionally, the Trust began pre-development interests in key southeastern Fort Wayne parcels, leading to option agreements, survey work, and environmental testing activity. By investing in and revitalizing key areas, the Allen County Fort Wayne Development Trust Inc is committed to driving economic growth and creating a better future for the Allen County-Fort Wayne community.

The Trust's mission is twofold: on one hand, it aims to breathe new life into existing structures and transform them into thriving economic hubs. On the other hand, it seeks to identify and develop strategic parcels of land, bringing new businesses and opportunities to the area. By focusing on projects of significance, the Allen County Fort Wayne Development Trust Inc not only revitalizes the community but also strengthens its economic foundation, ensuring a prosperous future for all its residents.

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Impact




October, 2024

Allen County Fort Wayne Development Trust Inc plays a pivotal role in driving revitalization and economic development in the Allen County-Fort Wayne area. In 2022, the organization focused on two significant local projects: serving as a financial convenor for the Electric Works initiative and facilitating the redevelopment of The Landing. These efforts not only enhance the infrastructure of the community but also foster economic growth.

Additionally, the Trust initiated pre-development activities for key parcels in Southeast Fort Wayne, which included option agreements, survey work, and environmental testing. These strategic efforts are vital for preparing sites for future development, ultimately promoting new opportunities and revitalization within the community. The Trust's mission to support real estate acquisition and significant redevelopment projects is integral to achieving long-term economic stability and improvement in the region.




This information is meant to be a general summary of Allen County Fort Wayne Development Trust 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.

Revenue
$25,744,288 (2022)
Expenses
$102,755 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $2
  • Program Service Revenue: $25,742,630
  • Gross Receipts: $25,744,288

Assets and Liabilities:

  • Total Assets: $113,715,549
  • Total Liabilities: $2,025,983
  • Net Assets: $111,689,566

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

INTEREST- NOTES RECEIVABLE

Revenue

$290,473

TAX CREDIT SALES

Revenue

$25,452,157

Organization Details

Founding Year

2011

Principal Officer

Robert S Walters

Main Address

200 EAST MAIN STREET SUITE 800, FORT WAYNE, IN, 46802

NTEE Category

Code: S20 - Community improvement

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