Greater Norfolk Economic Development Foundation

Charity Navigator Rating: Needs Improvement (64%)

The Greater Norfolk Economic Development Foundation has received a two-star rating, indicating that there are areas for improvement in its operations and transparency. The organization has a strong accountability framework, as evidenced by 100% independent board members and the presence of key policies related to conflict of interest, whistleblower protections, and document retention. However, it lacks financial statements and has not made its tax form available on its website, which significantly impacts its transparency score.

Financially, the organization shows a high program expense ratio of 98.47%, suggesting that it allocates most of its resources toward its programs. However, it struggles with a liabilities to assets ratio of 80.12%, indicating potential financial vulnerabilities. The absence of public financial documents may raise concerns for potential donors regarding the foundation's financial health.

Overall, while the Greater Norfolk Economic Development Foundation demonstrates commitment through its program spending and independent governance, its lack of financial transparency and missing documentation are critical shortcomings that could affect trust and donor confidence.

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

Greater Norfolk Economic Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Norfolk Economic Development Foundation 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

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