Overview
What is Ashland Area Development Corp?
Ashland Area Development Corp is a nonprofit organization situated in Ashland, Wisconsin, specifically at 422 3rd St W, Suite 101. The primary objective of this organization is to foster economic growth and development within the Ashland area. With a team of eight dedicated individuals, Ashland Area Development Corp works tirelessly to contribute to the local economy, promoting a prosperous and thriving community. While the specific activities and initiatives undertaken by the organization are not detailed in the provided information, the general mission is to stimulate economic growth and development in the Ashland region.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 55%, One-Star out of Four Star rating.
The Ashland Area Development Corp has received a low score of 55%, indicating significant concerns regarding its financial accountability and transparency. While the organization demonstrates strengths such as having a fully independent board and no material diversion of assets, it falls short in several critical areas, including the absence of financial statements and key governance policies.
The lack of transparency is further compounded by missing documents like the tax form on its website and essential policies for conflict of interest and whistleblower protections. While the program expense ratio is relatively healthy at 60.33%, indicating a reasonable allocation of funds towards programs, the overall lack of financial documentation raises questions about the organization’s operational transparency and accountability practices.
Ultimately, while Ashland Area Development Corp has some positive governance features, the significant gaps in financial reporting and policy documentation underscore the need for improvement to build trust with donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Ashland Area Development Corp legitimate?
Ashland Area Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ashland Area 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $256,530
For more financial information, click here
What is the mission statement of Ashland Area Development Corp?
The Ashland Area Development Corp, as stated in its mission, aims to foster economic growth and development within its region. This organization actively works towards enhancing the economic landscape, striving to create opportunities and prosperity for all within its jurisdiction. The mission is primarily focused on driving economic development, with the ultimate goal of improving the overall economic well-being of the area. The corporation may engage in various activities to achieve this objective, such as promoting business growth, attracting new investments, and supporting local entrepreneurs. However, the exact nature and extent of these activities are not specified in the provided information.
Who is the CEO of Ashland Area Development Corp?
Tony Singler is the Treasurer of Ashland Area Development Corp.
What is the revenue of Ashland Area Development Corp?
Ashland Area Development Corp's revenue in 2022 was $684,891.
Who are the executives of Ashland Area Development Corp and what are their salaries?
The average compensation at Ashland Area Development Corp during 2022 was $32,066. There are 8 employees and 12 volunteers at Ashland Area Development Corp.
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Where can I find the form 990 for Ashland Area Development Corp?
Ashland Area Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ashland Area Development Corp
Ashland Area Development Corp, as its mission statement suggests, is dedicated to promoting economic growth in the Ashland area of Wisconsin. This nonprofit organization's primary objective is to foster sustainable development within this region, aiming to enhance its economic landscape and prosperity. By taking an active role in economic development, Ashland Area Development Corp contributes to the betterment of the community, potentially creating job opportunities and stimulating local businesses.
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Impact
July, 2024
Ashland Area Development Corp's impact on the Ashland area of Wisconsin has been significant in furthering economic development. Through its initiatives and programs, the organization has stimulated business growth, created job opportunities, and enhanced the overall economic landscape of the region. By focusing on community improvement and fostering a conducive environment for businesses to thrive, Ashland Area Development Corp has played a crucial role in strengthening the local economy and enhancing the quality of life for residents in the Ashland area.
This information is meant to be a general summary of Ashland Area 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: $2,006
- Program Service Revenue: $258,750
- Gross Receipts: $684,891
Assets and Liabilities:
- Total Assets: $2,135,703
- Total Liabilities: $144,878
- Net Assets: $1,990,825
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
AAEC BUILDING RENT
Revenue
$251,709
REVOLVING LOAN FUND INTEREST
Revenue
$5,072
ASHLAND CHAMBER-RLF ADMIN
Revenue
$1,000
AAEC TENANT SERVICES
Revenue
$969
Organization Details
Founding Year
1984
Phone
(715) 682-8344Principal Officer
Tony Singler
Main Address
422 3RD ST W RM/STE 101, ASHLAND, WI, 54806
NTEE Category
Code: S30Z - Community improvement
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