Overview
What is Fifth District Economic Development Fund Inc?
Fifth District Economic Development Fund Inc is a charitable organization located in Lees Summit, Missouri, with an address at 2804 SW 12th TERRACE. Established and reinstated in 2020, the organization primarily focuses on providing financial assistance to churches for necessary repairs and updates. In addition to this, scholarships are offered to members or students who apply for support. The organization's annual contributions have remained under $5,000 until 2022, when its revenue exceeded $200,000. However, as of the end of 2022, committees for scholarship review and church assistance applications had not been activated, aligning with the organization's mission.
Is Fifth District Economic Development Fund Inc legitimate?
Fifth District Economic Development Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fifth District Economic Development Fund Inc 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: $102,020
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Fifth District Economic Development Fund Inc?
The Fifth District Economic Development Fund Inc's mission is centered around providing financial assistance. Specifically, it aids churches in need of repairs and essential updates. Additionally, the organization offers scholarships to its members or students seeking support. The fund filed necessary documents to reinstate its status as a charitable organization in February 2020, and its contributions remained below $5,000 until April 2022, when its revenue surpassed $200,000. Unfortunately, as of the end of 2022, the organization did not have committees activated to review scholarship applications or church assistance requests, which may have impacted its consistency with its mission.
Who is the CEO of Fifth District Economic Development Fund Inc?
Chester Thompson Jr is the Exec. Director of Fifth District Economic Development Fund Inc.
What is the revenue of Fifth District Economic Development Fund Inc?
Fifth District Economic Development Fund Inc's revenue in 2022 was $327,990.
Who are the executives of Fifth District Economic Development Fund Inc and what are their salaries?
Here are 25 key members and their salaries:
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Where can I find the form 990 for Fifth District Economic Development Fund Inc?
Fifth District Economic Development Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fifth District Economic Development Fund Inc
The Fifth District Economic Development Fund Inc is dedicated to providing financial assistance for churches in need of repairs and necessary updates. This nonprofit organization also offers scholarships to its members or students seeking support. Their mission is to contribute financially to the upkeep of religious institutions and aid individuals in furthering their education.
Initially, the nonprofit operated with limited contributions, filing Form 990-N for the previous two years. Following re-establishment as a charitable organization, the Fifth District Economic Development Fund Inc received reinstatement in February 2020. For the 2020 calendar year, the organization's contributions remained below $5,000, necessitating the filing of Form 990-EZ. However, by April 2022, the nonprofit's revenues surpassed $200,000. Despite this growth, committees responsible for reviewing scholarship applications for college-bound students and evaluating church assistance requests had not been activated by the end of 2022, aligning with the organization's mission.
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Impact
October, 2024
Fifth District Economic Development Fund Inc plays a crucial role in fostering community well-being and supporting educational opportunities. By providing financial assistance to churches, the organization enables these institutions to maintain and upgrade their facilities, which are often pivotal in community life. This support helps ensure that places of worship remain safe, welcoming, and functional for their congregations.
Additionally, the fund offers scholarships to students and members, opening doors to educational advancement. This investment in education not only benefits individual recipients but also strengthens the community by cultivating a more educated and skilled populace.
The organization's financial growth demonstrates its increasing impact, with revenues exceeding $200,000 in April 2022. As it continues to support churches and students, it contributes to the vibrancy and resilience of the local community in Lees Summit, MO.
This information is meant to be a general summary of Fifth District Economic Development Fund Inc. 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: $3,253
- Program Service Revenue: $324,737
- Gross Receipts: $374,990
Assets and Liabilities:
- Total Assets: $225,920
- Total Liabilities: $0
- Net Assets: $225,920
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
DEVELOPMENT FEES
Revenue
$324,737
Organization Details
Founding Year
1977
Phone
(816) 289-5862Principal Officer
Chester Thompson Jr
Main Address
2804 SW 12th TERRACE, LEES SUMMIT, MO, 64081
NTEE Category
Code: X99 - Religion related
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