Overview
What is Monroe County Business Development Corporation?
Monroe County Business Development Corporation is a nonprofit organization located at 9 Washington Street, Monroe, MI 48161. Their primary mission is to stimulate economic growth in the county by fostering new and diverse job opportunities for its residents. They achieve this by assisting existing businesses in their growth and expansion within the area, as well as collaborating with regional partnerships to attract new businesses to suitable locations. The organization's efforts are supported by Monroe Bank & Trust, which donated facilities with a value of 15,428 for their use. The corporation is led by a team of four dedicated individuals.
Official website here: www.monroecountybdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84%, Three-Star out of Four Star rating.
The Monroe County Business Development Corporation has achieved a respectable rating of 84%, indicating a strong performance in accountability and finance. This rating reflects a focus on responsible financial management, as evidenced by the 100% independent board and a strong program expense ratio of 84.27%. Such figures suggest that the organization prioritizes its mission and effectively uses its resources to benefit the community.
Strengths of the organization include full compliance with financial oversight, as demonstrated by its successful audit and oversight committee, and the absence of material diversion of assets. The board's structure is also commendable, with a majority of independent members, ensuring diverse perspectives in decision-making. However, the organization has some notable limitations, particularly the absence of a conflict of interest policy and whistleblower policy, which may raise concerns about governance practices.
Overall, while the Monroe County Business Development Corporation shows strong financial health and governance through its independent board and effective use of funds, attention to enhancing its policy frameworks could further strengthen its operational integrity and credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Monroe County Business Development Corporation legitimate?
Monroe County Business Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Monroe County Business 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $199,617
For more financial information, click here
Official website here: www.monroecountybdc.org
What is the mission statement of Monroe County Business Development Corporation?
The Monroe County Business Development Corporation's mission is centered around promoting economic growth in the region. Specifically, their goal is to create a variety of job opportunities for local citizens by fostering the development of new businesses and encouraging the expansion of existing ones. This organization works collaboratively with regional partnerships to attract new ventures to suitable locations within their jurisdiction. Notably, Monroe Bank & Trust contributed facilities worth 15,428 units to support the corporation's endeavors.
Official website here: www.monroecountybdc.org
Who is the CEO of Monroe County Business Development Corporation?
Tim Lake is the Principal Officer of Monroe County Business Development Corporation.
Official website here: www.monroecountybdc.org
What is the revenue of Monroe County Business Development Corporation?
Monroe County Business Development Corporation's revenue in 2022 was $506,256.
Official website here: www.monroecountybdc.org
Who are the executives of Monroe County Business Development Corporation and what are their salaries?
The average compensation at Monroe County Business Development Corporation during 2022 was $49,904. There are 4 employees at Monroe County Business Development Corporation.
Here are 18 key members and their salaries:
- 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
- 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
- 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.monroecountybdc.org
Where can I find the form 990 for Monroe County Business Development Corporation?
Monroe County Business Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.monroecountybdc.org
Learn more at the official website: www.monroecountybdc.org
Mission Statement of Monroe County Business Development Corporation
The Monroe County Business Development Corporation, as its name suggests, is dedicated to fostering economic growth in Monroe County. This nonprofit organization's mission is to create a multitude of new and varied job opportunities for the county's residents. To achieve this, it assists existing businesses in their expansion within Monroe County and collaborates with regional partnerships to draw in new businesses to the area. Notably, Monroe Bank & Trust has generously donated facilities to the tune of 15,428 square feet to support the corporation's endeavors.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Monroe County Business Development Corporation plays a crucial role in growing Monroe County's economy by creating new and diversified job opportunities for its citizens. The organization assists existing businesses with growth and expansion within the county, while also working with regional partnerships to attract new businesses to the area. This contributes to boosting economic development, increasing employment opportunities, and enhancing the overall prosperity of the local community. The support provided by the corporation, facilitated by partnerships like Monroe Bank & Trust's donation of facilities, directly impacts the economic landscape of the region and helps ensure a thriving business environment in Monroe County, Michigan.
This information is meant to be a general summary of Monroe County Business 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: $23,097
- Gross Receipts: $506,256
Assets and Liabilities:
- Total Assets: $1,256,866
- Total Liabilities: $69,890
- Net Assets: $1,186,976
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Phone
(734) 241-8081Principal Officer
Tim Lake
Main Address
9 WASHINGTON ST, MONROE, MI, 48161
Website
www.monroecountybdc.orgNTEE Category
Code: M99 - Public safety
If you are a representative of Monroe County Business Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.