Overview
What is Greater Norfolk Economic Development Foundation?
The Greater Norfolk Economic Development Foundation is a nonprofit organization situated in Norfolk, Nebraska. With a focus on the community's future, they offer support in various sectors, including education, recreation, and the local economy. Their mission is to promote development, aiming to enhance these key aspects of the community. They provide a range of programs to facilitate this development, working towards a prosperous and well-rounded future for Norfolk and its residents.
What are the reviews and ratings of this charity?
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.
Is Greater Norfolk Economic Development Foundation legitimate?
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.
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What is the mission statement of Greater Norfolk Economic Development Foundation?
The Greater Norfolk Economic Development Foundation's mission is centered around providing support to foster development in various sectors. This encompasses education, recreation, and the local economy, among other community issues that may impact the future. The organization's activities are geared towards promoting growth and improvement in these areas, thereby contributing positively to the community.
What is the revenue of Greater Norfolk Economic Development Foundation?
Greater Norfolk Economic Development Foundation's revenue in 2023 was $1,274,311.
Who are the executives of Greater Norfolk Economic Development Foundation and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Greater Norfolk Economic Development Foundation?
Greater Norfolk Economic Development Foundation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Greater Norfolk Economic Development Foundation
The Greater Norfolk Economic Development Foundation is committed to providing assistance in promoting development within the community. Their mission is to support various initiatives that contribute to the advancement of education, recreation, and the local economy. By doing so, the foundation aims to address and address issues that may impact the community's future positively. The Greater Norfolk Economic Development Foundation serves as a catalyst for growth and improvement, working tirelessly to ensure that the community thrives and prospers. Through their programs, they seek to foster sustainable development and create opportunities for community members to engage in meaningful activities.
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Impact
October, 2024
The Greater Norfolk Economic Development Foundation plays a vital role in enhancing the local economy and community well-being in Norfolk, Nebraska. By implementing programs that focus on education and recreation, it fosters an environment conducive to growth and development. The foundation addresses various issues impacting the community, ensuring that resources are directed toward sustainable solutions that benefit residents in the long term. Its efforts to bolster local economic initiatives create opportunities for businesses and individuals alike, promoting overall community improvement and resilience.
This information is meant to be a general summary of Greater Norfolk Economic Development Foundation. 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 2023.
- Investment Income: $3,301
- Program Service Revenue: $253,859
- Gross Receipts: $1,274,311
Assets and Liabilities:
- Total Assets: $9,485,734
- Total Liabilities: $7,544,528
- Net Assets: $1,941,206
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Lease/Rental Revenue
Revenue
$253,859
Organization Details
Founding Year
1986
Principal Officer
Stephen Sunderman
NTEE Category
Code: S30 - Community improvement
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