Overview
What is Target Alpena Development Corporation?
Target Alpena Development Corporation is a nonprofit organization situated in Alpena, Michigan, specifically at 235 W Chisholm, ZIP code 49707. Their primary mission is to promote and enhance the social and general well-being of Alpena County. To achieve this, they manage and support two revolving loan funds, offering low-interest loans to small businesses. Moreover, they have played a significant role in developing an industrial park and supporting various community projects in collaboration with the Chamber of Commerce, Downtown Development Authority, and the Public School System.
Official website here: www.targetalpena.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
Target Alpena Development Corporation has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and transparency. The organization boasts a high percentage of independent board members and demonstrates no material diversion of assets, reflecting strong governance practices. Additionally, their program expense ratio is commendable at approximately 79.65%, suggesting that a significant portion of their funds is directed towards their programs.
However, there are some areas where improvements could be made. The organization lacks a whistleblower policy and a document retention and destruction policy, which are crucial for ensuring transparency and accountability. While they have made strides in several governance aspects, addressing these gaps is essential for enhancing their overall rating and public trust.
Overall, while Target Alpena Development Corporation maintains a respectable standing within the nonprofit sector, focusing on strengthening their governance policies could help bolster their credibility and operational effectiveness in the community they serve.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Target Alpena Development Corporation?
86% of 23 reviewers on Facebook recommend Target Alpena Development Corporation. Here is a summary of their reviews:
Many users express a sense of optimism about the organization's growth and future potential. However, some comments highlight a need for more support and activities for underserved populations, particularly during certain times of the year. This suggests that while there is appreciation for the efforts being made, there is also a desire for additional initiatives to address the community's needs more effectively.
Overall, the sentiment leans towards support for the corporation, though it indicates room for improvement in serving all segments of the community.
This AI summary has been generated from reviews found on Facebook.
Is Target Alpena Development Corporation legitimate?
Target Alpena Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Target Alpena 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: $79,000
For more financial information, click here
Official website here: www.targetalpena.com
What is the mission statement of Target Alpena Development Corporation?
The Target Alpena Development Corporation's mission is centered around promoting the social and general welfare of its community. In pursuit of this objective, the corporation actively manages and supports revolving loan funds, offering low-interest loans to small businesses. Additionally, they have developed an industrial park and have been involved in various community projects, often collaborating with local entities such as the Chamber of Commerce, Downtown Development Authority, and the public school system.
Official website here: www.targetalpena.com
Who is the CEO of Target Alpena Development Corporation?
Nathan Skibbe is the President of Target Alpena Development Corporation.
Official website here: www.targetalpena.com
What is the revenue of Target Alpena Development Corporation?
Target Alpena Development Corporation's revenue in 2022 was $132,955.
Official website here: www.targetalpena.com
Who are the executives of Target Alpena Development Corporation and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.targetalpena.com
Where can I find the form 990 for Target Alpena Development Corporation?
Target Alpena Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.targetalpena.com
Learn more at the official website: www.targetalpena.com
Mission Statement of Target Alpena Development Corporation
Target Alpena Development Corporation, as its name suggests, is committed to fostering the social and general welfare of Alpena County. To achieve this mission, the organization actively manages and supports two revolving loan funds, offering low-interest loans to small businesses. This financial assistance is instrumental in bolstering local enterprises, contributing to the overall well-being of the community.
Beyond its financial endeavors, Target Alpena Development Corporation also plays a role in community development. In collaboration with local entities such as the Chamber of Commerce, Downtown Development Authority, and the public school system, the organization supports various projects that enhance the region's social fabric. By working together with these organizations, Target Alpena Development Corporation is able to contribute to a diverse range of initiatives that ultimately promote the welfare of Alpena County as a whole.
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Impact
October, 2024
Target Alpena Development Corporation plays a crucial role in enhancing the welfare and economic development of Alpena County. By managing and supporting a revolving loan fund and a micro-revolving loan fund, the organization provides low-interest loans that empower small businesses to thrive.
In addition to financial support, the corporation has been actively involved in developing an industrial park, which fosters growth and attracts new industries to the region. Collaborating with local entities such as the Chamber of Commerce, Downtown Development Authority, and the public school system, Target Alpena supports a variety of community projects aimed at improving the overall quality of life in Alpena.
Their commitment to promoting social welfare not only stimulates economic activity but also strengthens community cohesion, making Alpena a more vibrant place to live and work.
This information is meant to be a general summary of Target Alpena 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: $478
- Program Service Revenue: $23,868
- Gross Receipts: $132,955
Assets and Liabilities:
- Total Assets: $1,365,489
- Total Liabilities: $31,273
- Net Assets: $1,334,216
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN FUND INTEREST - RLF LOAN
Revenue
$16,602
LOAN FUND INTEREST - MRLF LOA
Revenue
$2,695
LOAN FUND FEES - RLF FEES
Revenue
$2,080
LOAN ORIGINATION FEES - RLF
Revenue
$1,750
LOAN FUND FEES - MRLF FEES
Revenue
$741
Organization Details
Founding Year
1989
Phone
(989) 354-3181Principal Officer
Nathan Skibbe
Main Address
235 W CHISHOLM, ALPENA, MI, 49707
Website
www.targetalpena.comNTEE Category
Code: S30Z - Community improvement
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