Overview
What is Edgewater Development Corporation?
Edgewater Development Corporation is a nonprofit organization situated in Chicago, Illinois (specifically at 1210 W Rosedale, ZIP 60660). Their primary mission is to assist and draw in entrepreneurs and small businesses by offering a range of programs such as orientations, workshops, training sessions, and networking events. These initiatives aim to pave the way for success by offering empowerment, valuable insights, and practical solutions to these businesses. By doing so, the corporation aims to foster growth and development within the entrepreneurial community.
Official website here: www.edgewater.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 36%, Zero-Star out of Four Star rating.
The Edgewater Development Corporation has received a low score primarily due to its Accountability & Finance metrics. While it boasts a fully independent board and has no material diversion of assets, the organization falls short in several key areas such as lacking essential policies, including a conflict of interest policy and a whistleblower policy. The absence of these items has significantly impacted its overall rating.
Additionally, the organization has a low program expense ratio of only 28.08%, indicating that a minimal portion of its expenses is allocated directly to its programs. Coupled with a high liabilities to assets ratio of 1.17%, this raises concerns about its financial health and sustainability. Though some aspects of governance are strong, the failures in policies and financial commitment to programs are crucial limitations that potential donors should consider.
Overall, while Edgewater Development Corporation shows promise in governance aspects, the significant shortcomings in accountability and program funding make it a less favorable option for support. Interested individuals should weigh these factors before making any donations.
This AI summary has been generated from information found on Charity Navigator.
Is Edgewater Development Corporation legitimate?
Edgewater Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Edgewater 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.
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Official website here: www.edgewater.org
What is the mission statement of Edgewater Development Corporation?
The Edgewater Development Corporation's mission is centered around supporting and attracting entrepreneurs and small businesses. They achieve this through a range of initiatives, including orientations, workshops, training programs, and networking events. These activities are designed to empower these businesses, offer valuable insights, and provide solutions to help them succeed. By doing so, the corporation aims to pave the way for small businesses to thrive and grow, ultimately contributing to a vibrant and thriving business community.
Official website here: www.edgewater.org
Who is the CEO of Edgewater Development Corporation?
Michael Caramagno is the Board Member of Edgewater Development Corporation.
Official website here: www.edgewater.org
What is the revenue of Edgewater Development Corporation?
Edgewater Development Corporation's revenue in 2022 was $42,962.
Official website here: www.edgewater.org
Who are the executives of Edgewater Development Corporation and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.edgewater.org
Where can I find the form 990 for Edgewater Development Corporation?
Edgewater Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.edgewater.org
Learn more at the official website: www.edgewater.org
Mission Statement of Edgewater Development Corporation
Edgewater Development Corporation, a nonprofit organization, is committed to supporting and attracting entrepreneurs and small businesses. They accomplish this mission by providing a variety of programs. These programs include orientations, workshops, and training sessions, all aimed at empowering these businesses and providing them with valuable insights and solutions. Through networking events, Edgewater Development Corporation facilitates connections between entrepreneurs and potential partners, creating opportunities for growth and success. The organization's mission is to provide a pathway to success for these businesses, fostering an environment of empowerment and innovation.
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Impact
October, 2024
Edgewater Development Corporation significantly impacts the entrepreneurial landscape in Chicago by fostering the growth and success of small businesses. Through a variety of programs, including orientations, workshops, and training sessions, it empowers entrepreneurs with the essential resources and knowledge they need to thrive.
The organization serves as a vital hub for networking, connecting aspiring business owners with established entrepreneurs and industry experts. This creates an environment of collaboration and innovation, enabling participants to share insights and solutions that drive success.
By focusing on community improvement, Edgewater Development Corporation not only supports individual businesses but also contributes to the overall economic vitality of the region. Its commitment to empowering local entrepreneurs paves the way for sustainable growth, ultimately enhancing the fabric of the Chicago community.
This information is meant to be a general summary of Edgewater 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.
- Investment Income: $49
- Gross Receipts: $42,962
Assets and Liabilities:
- Total Assets: $501,982
- Total Liabilities: $5,899
- Net Assets: $496,083
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Organization Details
Founding Year
1990
Phone
(773) 561-6000Principal Officer
Michael Caramagno
Main Address
1210 W Rosedale, Chicago, IL, 60660
Website
www.edgewater.orgNTEE Category
Code: S31 - Community improvement
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