Overview
What is Greater Gratiot Development Inc?
Greater Gratiot Development Inc is a nonprofit organization situated in Ithaca, Michigan. Its primary mission is to contribute to the economic growth and development of the Gratiot community. They achieve this by providing various loans that assist in the establishment of new businesses or the expansion of existing ones. In addition to financial aid, they offer community economic development services, such as small business consulting, industry retention and expansion initiatives, attraction efforts for new businesses, and promoting the region among various state and local groups. Furthermore, Greater Gratiot Development Inc serves as a valuable source of information for the community. With a team of four dedicated individuals, this organization plays a significant role in enhancing the economic climate in the Gratiot area.
Official website here: www.gratiot.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 95%, Four-Star out of Four Star rating
Greater Gratiot Development Inc has achieved an impressive score of 95%, reflecting its strong accountability and financial management practices. This rating is derived entirely from its Accountability & Finance beacon, indicating that the organization prioritizes transparency and proper governance. A Four-Star rating is a significant achievement, showcasing the nonprofit's commitment to high standards in financial health and operational integrity.
The organization benefits from an entirely independent board, consisting of six members, which is a critical factor in maintaining unbiased oversight. Additionally, it has received full marks for its financial statements and policies related to conflict of interest and whistleblower protections, demonstrating a comprehensive approach to ethical management. The low liabilities to assets ratio of 0.90% further indicates a strong financial position.
While the financial metrics and governance structures are commendable, the data does not provide insight into the specific programs or services offered by Greater Gratiot Development Inc. Understanding its impact and effectiveness in the community would enhance the overall evaluation of the nonprofit, but its high accountability score suggests a solid foundation for positive outcomes.
This AI summary has been generated from information found on Charity Navigator.
Is Greater Gratiot Development Inc legitimate?
Greater Gratiot Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Gratiot Development Inc 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: $160,785
Professional Fundraising Fees: $0
Other Salaries and Wages: $152,109
For more financial information, click here
Official website here: www.gratiot.org
What is the mission statement of Greater Gratiot Development Inc?
Greater Gratiot Development Inc's mission is centered around promoting business growth and enhancing the economic climate within its community. The organization actively retains, expands, and attracts businesses and industries, participating in various activities that contribute to this goal. Its activities extend to providing community economic development services, including small business consulting, industry retention and expansion efforts, attraction of new businesses, and community promotion. Additionally, the organization serves as a source for valuable information, fostering interaction among different state and local groups.
Official website here: www.gratiot.org
Who is the CEO of Greater Gratiot Development Inc?
Jim Wheeler is the President of Greater Gratiot Development Inc.
Official website here: www.gratiot.org
What is the revenue of Greater Gratiot Development Inc?
Greater Gratiot Development Inc's revenue in 2023 was $576,014.
Official website here: www.gratiot.org
Who are the executives of Greater Gratiot Development Inc and what are their salaries?
The average compensation at Greater Gratiot Development Inc during 2023 was $78,224. There are 4 employees and 6 volunteers at Greater Gratiot Development Inc.
Here are 7 key members and their salaries:
- Compensation: $134,406
- Related: $0
- Other: $35,606
- Compensation: $0
- 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
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.gratiot.org
Where can I find the form 990 for Greater Gratiot Development Inc?
Greater Gratiot Development Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.gratiot.org
Learn more at the official website: www.gratiot.org
Mission Statement of Greater Gratiot Development Inc
Greater Gratiot Development Inc is an organization dedicated to strengthening the economic climate within its community. Its primary mission is to retain existing businesses, encourage their expansion, and attract new industries to the area. The organization achieves this goal by providing various loans to aid in the establishment of start-up companies or the expansion of existing ones. In addition to financial assistance, Greater Gratiot Development Inc offers a range of community economic development services. These services include small business consulting, efforts to retain and expand local industries, and attraction initiatives to attract new businesses to the area. Furthermore, the organization serves as a source of information, fostering interaction and cooperation among various state and local groups. This holistic approach to economic development enables Greater Gratiot Development Inc to contribute positively to the community's economic growth and prosperity.
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Impact
July, 2024
Greater Gratiot Development Inc's impact is significant in Ithaca, MI, as it actively works to retain, expand, and attract businesses and industries in the community. The organization provides various loans to assist start-up companies and expansions, offers community economic development services including small business consulting, and engages in industry retention, expansion, and attraction efforts. Additionally, it promotes community interactions and serves as a valuable source of information for economic development in the area. Through these efforts, Greater Gratiot Development Inc plays a crucial role in enhancing the economic climate and overall community improvement within the Gratiot community.
This information is meant to be a general summary of Greater Gratiot Development Inc. 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: $26,434
- Program Service Revenue: $18,284
- Gross Receipts: $576,014
Assets and Liabilities:
- Total Assets: $2,769,536
- Total Liabilities: $25,020
- Net Assets: $2,744,516
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REVOLVING LOAN INTEREST
Revenue
$18,284
Organization Details
Founding Year
1978
Phone
(989) 875-2083Principal Officer
Jim Wheeler
Main Address
136 SOUTH MAIN, ITHACA, MI, 488471440
Website
www.gratiot.orgNTEE Category
Code: S31Z - Community improvement
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