Overview
What is Waterloo Development Corporation?
Waterloo Development Corporation is a nonprofit organization dedicated to fostering the civic, industrial, commercial, and agricultural growth of Waterloo, Cedar Falls, and the northeast Iowa region. Their primary mission is to drive economic development, focusing on various sectors such as industry, commerce, transportation, and agriculture. In the 2014 tax year, they accomplished a significant milestone by completing the construction of the Cedar Valley Sportsplex facility, contributing to the community's leisure and recreational activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82%, Three-Star out of Four Star Rating
Waterloo Development Corporation has achieved a solid Three-Star rating with a score of 82%, indicating a commendable level of performance in terms of accountability and finance. This rating is exclusively derived from its accountability and finance metrics, highlighting the organization’s commitment to transparent financial practices.
The organization boasts an exemplary independent board structure, with 100% of its board members being independent, and an independent board size of ten members. Their financial statements are thoroughly reviewed or compiled, and there are no reported material diversions of assets, which adds to their credibility. Additionally, they effectively document board meeting minutes, demonstrating good governance practices.
On the financial health front, the corporation maintains a strong liabilities to assets ratio of 0.00%, illustrating sound financial management. Their program expense ratio stands at 96.48%, indicating that a significant majority of their expenditures are directed toward program services, reinforcing their commitment to their mission. Overall, the Waterloo Development Corporation displays strong organizational practices but could benefit from enhancing its overall rating through diversification of score metrics.
This AI summary has been generated from information found on Charity Navigator.
Is Waterloo Development Corporation legitimate?
Waterloo Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Waterloo 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: $0
For more financial information, click here
What is the mission statement of Waterloo Development Corporation?
The Waterloo Development Corporation works towards promoting various interests in an economic development context. This encompasses civic, industrial, mercantile, transportation, agricultural, and other sectors. In the 2014 tax year, the organization achieved a notable milestone by completing the construction of the Cedar Valley Sportsplex facility. In essence, Waterloo Development Corporation strives to enhance the economic well-being of its designated areas.
Who is the CEO of Waterloo Development Corporation?
Daniel B Watters is the Principal Officer of Waterloo Development Corporation.
What is the revenue of Waterloo Development Corporation?
Waterloo Development Corporation's revenue in 2022 was $876,951.
Who are the executives of Waterloo Development Corporation and what are their salaries?
There 10 volunteers at Waterloo Development Corporation.
Here are 10 key members and their salaries:
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Where can I find the form 990 for Waterloo Development Corporation?
Waterloo Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Waterloo Development Corporation
Waterloo Development Corporation, a nonprofit organization, is dedicated to promoting various interests in the regions of Waterloo, Cedar Falls, and northeast Iowa. Their primary mission revolves around economic development, aiming to enhance civic, industrial, mercantile, traffic and transportation, agricultural, and other sectors in these areas. In 2014, the organization showcased its success by completing the construction of the Cedar Valley Sportsplex facility, further contributing to the economic growth and development of the regions they serve.
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Impact
July, 2024
Waterloo Development Corporation's impact is evident in its promotion of economic development in Waterloo, Cedar Falls, and northeast Iowa areas. The organization works towards enhancing various sectors such as civic, industrial, mercantile, traffic and transportation, and agriculture in these regions. An exemplary accomplishment of the corporation is the successful completion of the Cedar Valley Sportsplex facility during the 2014 tax year. This project not only contributes to the community's improvement but also serves as a testament to the organization's commitment to fostering growth and development in the area.
This information is meant to be a general summary of Waterloo 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
- Gross Receipts: $876,951
Assets and Liabilities:
- Total Assets: $695,702
- Total Liabilities: $0
- Net Assets: $695,702
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Organization Details
Founding Year
2000
Phone
(319) 292-3956Principal Officer
Daniel B Watters
Main Address
360 WESTFIELD AVE STE 200, WATERLOO, IA, 507011325
NTEE Category
Code: S30 - Community improvement
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