Overview
What is Regional Economic Development Corp?
The Regional Economic Development Corp, based in Southern Illinois, is a dedicated nonprofit organization. Its primary objective is to foster economic growth in the region. They achieve this by creating and implementing programs that support their mission. The organization's activities are geared towards promoting economic viability in Southern Illinois, thereby contributing to its overall development.
Official website here: www.redco.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84%, Three-Star out of Four Star Rating. The three-star rating indicates that the Regional Economic Development Corp is performing adequately in terms of accountability and finance. The organization has scored particularly well in areas such as having a majority of independent board members and maintaining a strong audit for its financial statements. However, the overall score relies solely on the Accountability & Finance beacon.
Despite strong performance in many financial metrics, the organization has some limitations. Notably, it lacks essential policies such as a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which could affect transparency and governance practices. Additionally, the tax form is not available on the nonprofit's website, which is crucial for public transparency.
Overall, while the Regional Economic Development Corp demonstrates solid financial management, improvements in governance policies and transparency practices are necessary to enhance its overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Regional Economic Development Corp legitimate?
Regional Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Regional 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.
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Official website here: www.redco.org
What is the mission statement of Regional Economic Development Corp?
The Regional Economic Development Corporation, in its mission, works towards enhancing the economic strength of Southern Illinois. This is achieved by creating and implementing various development programs, with the primary objective of fostering the region's economic viability. The corporation's activities are geared towards promoting economic growth and stability within the region, thereby contributing to its overall development.
Official website here: www.redco.org
Who is the CEO of Regional Economic Development Corp?
Frank Colombo is the President of Regional Economic Development Corp.
Official website here: www.redco.org
What is the revenue of Regional Economic Development Corp?
Regional Economic Development Corp's revenue in 2023 was $985,503.
Official website here: www.redco.org
Who are the executives of Regional Economic Development Corp and what are their salaries?
Here are 21 key members and their salaries:
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Official website here: www.redco.org
Where can I find the form 990 for Regional Economic Development Corp?
Regional Economic Development Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.redco.org
Learn more at the official website: www.redco.org
Mission Statement of Regional Economic Development Corp
The Regional Economic Development Corp, a nonprofit organization, is dedicated to promoting the economic well-being of Southern Illinois. It achieves this goal by developing and implementing various programs that aim to enhance the region's economic viability. The organization's mission is to foster growth and development in Southern Illinois, contributing to a stronger and more prosperous economic landscape. By investing in programs that support this mission, the Regional Economic Development Corp plays a vital role in driving economic progress in the region.
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Impact
October, 2024
The Regional Economic Development Corp significantly enhances the economic landscape of Southern Illinois by devising and implementing programs that bolster local viability. Based in Marion, IL, the organization focuses on driving initiatives that stimulate growth, increase job opportunities, and improve community resources. By prioritizing the economic needs of the region, it fosters a more sustainable and prosperous environment for businesses and residents alike. The corporation's commitment to community improvement plays a crucial role in attracting investment and encouraging collaboration among various stakeholders, ultimately contributing to the overall development and resilience of Southern Illinois.
This information is meant to be a general summary of Regional 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 2023.
- Investment Income: $742,903
- Gross Receipts: $1,205,227
Assets and Liabilities:
- Total Assets: $3,377,912
- Total Liabilities: $243,523
- Net Assets: $3,134,389
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Organization Details
Founding Year
1999
Principal Officer
Frank Colombo
Main Address
2305 W MAIN STREET, MARION, IL, 62959
Website
www.redco.orgNTEE Category
Code: S30 - Community improvement
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