Overview
What is Macomb Area Economic Development Corp?
The Macomb Area Economic Development Corporation is a nonprofit organization that plays a significant role in promoting the development of new and existing industries. Their mission is centered around fostering economic growth within the area, which they achieve by providing necessary support to various industries. The specifics of their activities are not provided in the information, but it can be inferred that they likely offer resources, guidance, and networking opportunities to help businesses thrive. Their exact services and impact within the community remain to be explored further.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% (Four-Star out of Four Star rating)
The Macomb Area Economic Development Corp has achieved a commendable rating of 94%, reflecting its strong performance in accountability and finance. This rating is entirely derived from its accountability and finance score, demonstrating the organization's commitment to transparency and responsible management of resources. With a Four-Star rating, it indicates that donors can trust the organization to utilize their contributions effectively.
The organization has a fully independent board, with 100% of its members being independent, which enhances its governance standards. It also maintains a zero material diversion of assets and has robust policies in place regarding conflict of interest, whistleblower protection, and document retention. These factors contribute positively to its overall financial health and operational integrity.
While the organization has received high marks across various accountability metrics, potential donors might consider looking into its programmatic impact and outcomes to get a fuller picture of its effectiveness in driving economic development in the community. Overall, the Macomb Area Economic Development Corp stands out for its strong governance practices and fiscal responsibility.
This AI summary has been generated from information found on Charity Navigator.
Is Macomb Area Economic Development Corp legitimate?
Macomb Area Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Macomb Area Economic Development Corp 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: $75,650
Professional Fundraising Fees: $0
Other Salaries and Wages: $30,184
For more financial information, click here
What is the mission statement of Macomb Area Economic Development Corp?
The Macomb Area Economic Development Corp's mission is centered around promoting the growth of both new and existing industries. Their primary objective is to foster an environment that encourages business expansion and development. They strive to contribute to the economic progress of their community by offering support and resources to various industries. However, the provided information does not contain specific details about their approach or the scope of their activities beyond promoting industry development.
Who is the CEO of Macomb Area Economic Development Corp?
Todd Lester is the Principal Officer of Macomb Area Economic Development Corp.
What is the revenue of Macomb Area Economic Development Corp?
Macomb Area Economic Development Corp's revenue in 2022 was $197,186.
Who are the executives of Macomb Area Economic Development Corp and what are their salaries?
The average compensation at Macomb Area Economic Development Corp during 2022 was $52,917. There are 2 employees at Macomb Area Economic Development Corp.
Here are 5 key members and their salaries:
- Compensation: $75,650
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Macomb Area Economic Development Corp?
Macomb Area Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Macomb Area Economic Development Corp
Macomb Area Economic Development Corp, as its name suggests, is committed to fostering the growth of both new and established industries. Its mission is to actively promote the development of various industries within its scope, aiming to contribute positively to the economic landscape. The corporation's role is to support and facilitate the expansion of existing businesses and attract new ones, thereby driving economic growth and job creation. By promoting the development of industries, Macomb Area Economic Development Corp seeks to enhance the overall economic vitality of the community, fostering a prosperous and thriving economic environment.
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Impact
October, 2024
The Macomb Area Economic Development Corp plays a significant role in fostering the growth of both new and existing industries in the region. By actively promoting development, it helps create a more vibrant economic landscape that can attract businesses and support local employment opportunities. The organization's focus on community improvement not only enhances the local economy but also contributes to the overall quality of life for residents in Macomb, IL. Through its initiatives, the Macomb Area Economic Development Corp serves as a catalyst for progress, ensuring that the area remains competitive and prosperous in an ever-changing economic environment.
This information is meant to be a general summary of Macomb Area Economic Development Corp. 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: $848
- Gross Receipts: $197,186
Assets and Liabilities:
- Total Assets: $1,005,548
- Total Liabilities: $90,148
- Net Assets: $915,400
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Organization Details
Founding Year
1985
Phone
(309) 837-4684Principal Officer
Todd Lester
Main Address
1406 EAST CARROLL STREET, MACOMB, IL, 61455
NTEE Category
Code: S30 - Community improvement
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