Overview
What is Lucas County Economic Development Corporation?
Lucas County Economic Development Corporation, serving as the designated community improvement organization for the Lucas County Commissioners, is committed to promoting, advancing, and encouraging the industrial, economic, commercial, and civic development of Lucas County. Based in Toledo, Ohio, this nonprofit organization works strategically to enhance employment opportunities and improve the industrial and commercial life of the community through targeted investments. Their mission is to foster growth and development in various sectors, contributing positively to the well-being of the community and its surrounding areas.
Official website here: www.workreadylucascounty.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Lucas County Economic Development Corporation has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 69%. This rating reflects several strengths within the organization, including a fully independent board and a strong financial audit score, indicating effective oversight and management of funds. Notably, the organization demonstrates high program expense efficiency, allocating a significant portion of its resources directly to programs.
However, there are significant areas where the organization falls short, particularly regarding governance and transparency. The absence of essential policies such as a conflict of interest policy, whistleblower policy, and document retention policy raises concerns about the organization's commitment to best practices in nonprofit management. Additionally, the liabilities to assets ratio is concerning, suggesting potential financial risks.
Overall, while the Lucas County Economic Development Corporation shows promise in its financial management and independence, it must address its governance shortcomings to improve its accountability and transparency, thereby enhancing its overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Lucas County Economic Development Corporation legitimate?
Lucas County Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lucas County 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:
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For more financial information, click here
Official website here: www.workreadylucascounty.com
What is the mission statement of Lucas County Economic Development Corporation?
The Lucas County Economic Development Corporation was established with the purpose of fostering, enhancing, and encouraging the industrial, economic, commercial, and civic development in Lucas County and its surrounding areas. As the designated community improvement corporation for the Lucas County Commissioners, the organization works to promote the industrial, economic, commercial, and civic growth of Lucas County. They achieve this through strategic investments, which ultimately improve employment opportunities and advance the industrial and commercial life of the community.
Official website here: www.workreadylucascounty.com
Who is the CEO of Lucas County Economic Development Corporation?
Matt Heyrman is the Secretary of Lucas County Economic Development Corporation.
Official website here: www.workreadylucascounty.com
What is the revenue of Lucas County Economic Development Corporation?
Lucas County Economic Development Corporation's revenue in 2022 was $2,020,086.
Official website here: www.workreadylucascounty.com
Who are the executives of Lucas County Economic Development Corporation and what are their salaries?
There 5 volunteers at Lucas County Economic Development Corporation.
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Official website here: www.workreadylucascounty.com
Where can I find the form 990 for Lucas County Economic Development Corporation?
Lucas County Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.workreadylucascounty.com
Learn more at the official website: www.workreadylucascounty.com
Mission Statement of Lucas County Economic Development Corporation
The Lucas County Economic Development Corporation, in its mission, aims to promote, advance, and encourage the industrial, economic, commercial, and civic development of Lucas County and its surrounding area. Established with this purpose, the organization serves as a significant driving force in promoting the industrial, economic, commercial, and civic growth of the community. As the designated Community Improvement Corporation for the Lucas County Commissioners, the Lucas County Economic Development Corporation (LCEDC) works tirelessly to improve employment opportunities and advance the industrial and commercial life of the community through strategic investment. By doing so, the corporation contributes significantly to the overall development and progress of Lucas County.
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Impact
July, 2024
The Lucas County Economic Development Corporation plays a crucial role in promoting and advancing the economic, industrial, commercial, and civic development of Lucas County. As the designated community improvement corporation for the Lucas County Commissioners, LCEDC strategically invests in the region to improve employment opportunities and enhance the overall industrial and commercial landscape of the community. Through its focused efforts, the organization has a significant impact on driving economic growth, attracting new businesses, and creating a more robust environment for business development in Toledo, Ohio, and the surrounding area.
This information is meant to be a general summary of Lucas County 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: $995,845
- Program Service Revenue: $105,775
- Gross Receipts: $2,020,086
Assets and Liabilities:
- Total Assets: $43,278,006
- Total Liabilities: $40,484,478
- Net Assets: $2,793,528
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SPONSORSHIP
Revenue
$160,113
LOSS ON LLC INVESTMENT
Revenue
-$54,338
Organization Details
Founding Year
1964
Phone
(419) 213-4604Principal Officer
Matt Heyrman
Main Address
ONE GOVERNMENT CENTER 800, TOLEDO, OH, 43604
Website
www.workreadylucascounty.comNTEE Category
Code: S31 - Community improvement
If you are a representative of Lucas County Economic Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.