Overview
What is Martin Luther King Economic Development Corporation?
Martin Luther King Economic Development Corporation is a nonprofit organization committed to revitalizing the Harambee Community. They achieve this goal by employing an integrated neighborhood revitalization strategy and project development programs. This approach aims to rebuild the community, fostering a sense of unity and progress. The corporation's mission is to drive sustainable growth and improvement within the Harambee area, providing essential resources and opportunities for community members.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 86% (Three-Star out of Four Stars)
The Martin Luther King Economic Development Corporation has received a solid Three-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. An overall score of 86% indicates that the organization prioritizes transparency and responsible financial management, which are crucial for donor trust and effective operations.
Strengths of the organization include a fully independent board, with all eight members meeting the criteria for independence. The financial statements are subject to an audit, and there is no history of material diversion of assets, highlighting the organization's integrity. Additionally, a high program expense ratio of nearly 90% suggests that a significant portion of its resources is directed towards its programs, maximizing the impact of donor contributions.
Despite its strong rating, the summary does not indicate any specific limitations or areas for improvement, suggesting that the organization is effectively managing its financial practices and governance. Overall, the Martin Luther King Economic Development Corporation appears to be a well-managed nonprofit dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Martin Luther King Economic Development Corporation legitimate?
Martin Luther King Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Martin Luther King Economic 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: $75,208
Professional Fundraising Fees: $0
Other Salaries and Wages: $97,929
For more financial information, click here
What is the mission statement of Martin Luther King Economic Development Corporation?
The Martin Luther King Economic Development Corporation works towards rebuilding the Harambee Community. They accomplish this through an integrated neighborhood revitalization strategy and various project development programs. The corporation's mission is focused on revitalizing the community as a whole, aiming to improve its overall condition and quality of life. By implementing strategic development projects, they aim to bring about positive change and foster a sense of community within Harambee.
Who is the CEO of Martin Luther King Economic Development Corporation?
Nicole Robbins is the President of Martin Luther King Economic Development Corporation.
What is the revenue of Martin Luther King Economic Development Corporation?
Martin Luther King Economic Development Corporation's revenue in 2022 was $1,169,611.
Who are the executives of Martin Luther King Economic Development Corporation and what are their salaries?
The average compensation at Martin Luther King Economic Development Corporation during 2022 was $86,568. There are 2 employees and 12 volunteers at Martin Luther King Economic Development Corporation.
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- Compensation: $75,208
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Where can I find the form 990 for Martin Luther King Economic Development Corporation?
Martin Luther King Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Martin Luther King Economic Development Corporation
Martin Luther King Economic Development Corporation, abbreviated as MLKEDC, is dedicated to rebuilding the Harambee Community. They accomplish this mission through an integrated neighborhood revitalization strategy and project development programs. This approach aims to revitalize the community as a whole, addressing various aspects of its development and growth. The corporation's efforts are focused on strategic project development, which is expected to contribute significantly to the rejuvenation of the Harambee Community.
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Impact
July, 2024
The Martin Luther King Economic Development Corporation's impact is focused on rebuilding the Harambee community in Milwaukee, Wisconsin. Through an integrated neighborhood revitalization strategy and project development programs, the organization is working to improve housing and economic opportunities in the area. Their mission is to uplift the community and create a better living environment for residents.
This information is meant to be a general summary of Martin Luther King Economic 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: $29,658
- Program Service Revenue: $783,718
- Gross Receipts: $1,169,611
Assets and Liabilities:
- Total Assets: $13,094,688
- Total Liabilities: $2,803,989
- Net Assets: $10,290,699
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL REVENUE
Revenue
$394,222
K-1 INVESTMENT INCOME
Revenue
$343,890
PROJECT INTEREST INCOM
Revenue
$38,041
PROJECT DEVELOPMENT IN
Revenue
$7,565
Organization Details
Founding Year
1993
Phone
(414) 264-5000Principal Officer
Nicole Robbins
Main Address
2745 N MARTIN LUTHER KING DRIVE, MILWAUKEE, WI, 53212
NTEE Category
Code: L20Z - Housing
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