Overview
What is Chippewa Valley Innovation Center?
The Chippewa Valley Innovation Center is a nonprofit organization situated in Chippewa Falls, Wisconsin. Established over three decades ago, its primary mission is to foster industrial development and decrease small business failures. They accomplish this by offering financial, technical, and managerial assistance to budding entrepreneurs, addressing their needs in areas such as accounting, marketing, staffing, and more. Over its 35-year history, the center has assisted 63 growing businesses, contributing to the creation of over 600 jobs in the region.
Official website here: www.chippewavalleyinnovationcenter.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 66% (Two-Star out of Four Star Rating)
The Chippewa Valley Innovation Center has received a Two-Star rating from Charity Navigator, indicating a mixed performance in terms of accountability and financial management. While the organization excels in having a fully independent board and has no material diversion of assets, it has notable deficiencies in its governance policies, including the absence of a conflict of interest and whistleblower policy.
Financially, the organization maintains a reasonable liabilities to assets ratio of about 39.97% and a program expense ratio of 61.69%, suggesting a commitment to utilizing funds for programmatic purposes. However, its overall accountability score is impacted by missing essential governance documents, which could raise concerns about transparency and risk management practices.
To improve its standing and offer greater assurance to donors and stakeholders, the Chippewa Valley Innovation Center should prioritize the development and implementation of the missing governance policies. Enhancing these areas could lead to a stronger rating in future assessments and bolster confidence among supporters.
This AI summary has been generated from information found on Charity Navigator.
Is Chippewa Valley Innovation Center legitimate?
Chippewa Valley Innovation Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chippewa Valley Innovation Center 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.chippewavalleyinnovationcenter.com
What is the mission statement of Chippewa Valley Innovation Center?
The Chippewa Valley Innovation Center's mission is centered around promoting industrial development and reducing small business failures. They achieve this by offering instruction in crucial areas such as accounting, marketing, and staffing, among other business needs, specifically tailored for inexperienced entrepreneurs. The center's objective is to provide financial, technical, and managerial assistance to small businesses, aiming to help them grow and create job opportunities in the region. Over the course of its 35-year history, the Chippewa Valley Innovation Center has assisted 63 growing businesses, which in turn have generated over 600 jobs.
Official website here: www.chippewavalleyinnovationcenter.com
Who is the CEO of Chippewa Valley Innovation Center?
Tom Waldusky is the President of Chippewa Valley Innovation Center.
Official website here: www.chippewavalleyinnovationcenter.com
What is the revenue of Chippewa Valley Innovation Center?
Chippewa Valley Innovation Center's revenue in 2022 was $104,808.
Official website here: www.chippewavalleyinnovationcenter.com
Who are the executives of Chippewa Valley Innovation Center and what are their salaries?
There 17 volunteers at Chippewa Valley Innovation Center.
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Official website here: www.chippewavalleyinnovationcenter.com
Where can I find the form 990 for Chippewa Valley Innovation Center?
Chippewa Valley Innovation Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chippewavalleyinnovationcenter.com
Learn more at the official website: www.chippewavalleyinnovationcenter.com
Mission Statement of Chippewa Valley Innovation Center
Chippewa Valley Innovation Center, a nonprofit organization, is dedicated to fostering industrial development and minimizing small business failures. To achieve this, the center offers instruction in various business facets such as accounting, marketing, and staffing, catering to the needs of inexperienced entrepreneurs. By providing financial, technical, and managerial assistance, Chippewa Valley Innovation Center aims to assist small businesses, ultimately reducing the number of failures in the industry.
Over the course of its 35-year history, Chippewa Valley Innovation Center has made significant strides in supporting the growth of enterprises. To date, the organization has aided 63 such businesses, which collectively have created over 600 jobs within the region. This impactful work by the center underscores its commitment to promoting industrial development and bolstering the local economy.
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Impact
October, 2024
The Chippewa Valley Innovation Center significantly impacts the region by fostering industrial development and supporting small businesses. By offering comprehensive instruction in critical areas such as accounting, marketing, and staffing, it equips inexperienced entrepreneurs with the necessary tools to succeed. Over its 35-year history, the center has assisted 63 growing businesses, which in turn have created over 600 jobs in the Chippewa Falls area. This contribution not only reduces the likelihood of small business failures but also enhances the overall economic vitality of the community. Through its financial, technical, and managerial support, the Chippewa Valley Innovation Center plays a vital role in nurturing entrepreneurial growth and community improvement.
This information is meant to be a general summary of Chippewa Valley Innovation Center. 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: $332
- Program Service Revenue: $54,626
- Gross Receipts: $104,808
Assets and Liabilities:
- Total Assets: $593,614
- Total Liabilities: $237,358
- Net Assets: $356,256
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$54,626
Organization Details
Founding Year
1988
Principal Officer
Tom Waldusky
Main Address
PO BOX 156, CHIPPEWA FALLS, WI, 54729
NTEE Category
Code: S43Z - Community improvement
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