Overview
What is Westedge Foundation Inc?
Westedge Foundation Inc is a nonprofit organization based in Charleston, South Carolina, with a primary focus on promoting economic development and neighborhood improvement. Their mission is to support the city of Charleston and the Medical University of South Carolina, contributing to the regional economy's knowledge-based sectors. To achieve this, they invest in supportive developments, managed projects, and increased opportunities, which enhance the quality of life in surrounding neighborhoods. By advocating for inclusion and addressing local challenges, they remove barriers to success and invest in public infrastructure. Westedge has attracted both large and small businesses, generating new jobs and promoting local prosperity. They have also contributed significantly to the local economy by increasing property tax, business license, and sales tax revenues, which fund long-term investments in public services and schools. Addressing the issue of food deserts, Publix Super Market has been introduced, providing healthy and affordable food options for the West Side of the Peninsula's residents, particularly lower-income and elderly individuals. Westedge also supports Burke High School and Charleston Development Academy, improving safe routes to schools and other facilities for students. When it comes to housing, Westedge ensures zero displacement of existing residents and increases Charleston's affordable housing, contributing over $7 million to affordable housing. They also aim to increase the number and diversity of housing opportunities close to employment centers like the Medical District.
Is Westedge Foundation Inc legitimate?
Westedge Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Westedge Foundation 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: $201,023
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Westedge Foundation Inc?
The Westedge Foundation Inc's mission is centered around supporting economic development and neighborhood improvement, with a focus on advancing knowledge-based sectors in a specific regional economy. The organization aims to strengthen its community by improving the quality of life, advocating for inclusion, and removing barriers to success. It also invests in public infrastructure to address local challenges. Westedge has attracted various businesses, generating new jobs, promoting local prosperity, and increasing property tax revenues. The foundation is committed to expanding access to essential services, like healthy food options, and improving safe routes to schools. In terms of housing, Westedge ensures no displacement of existing residents and works towards increasing affordable housing options.
Who is the CEO of Westedge Foundation Inc?
Michael T Maher is the Ceo of Westedge Foundation Inc. The CEO's salary of Westedge Foundation Inc is $201,945 and their total compensation is $255,415.
What is the revenue of Westedge Foundation Inc?
Westedge Foundation Inc's revenue in 2022 was $804,235.
Who are the executives of Westedge Foundation Inc and what are their salaries?
The average compensation at Westedge Foundation Inc during 2022 was $201,023. There is 1 employee and 12 volunteers at Westedge Foundation Inc.
Here are 13 key members and their salaries (Westedge Foundation Inc's CEO's salary is $201,945 and their total compensation is $255,415):
- Compensation: $201,945
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- Other: $53,470
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Where can I find the form 990 for Westedge Foundation Inc?
Westedge Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Westedge Foundation Inc
The Westedge Foundation, a bold economic and urban revitalization vision, is committed to advancing knowledge-based sectors within its regional economy. Its mission is to support the city and the Medical University of South Carolina, and the Medical University of South Carolina Foundation, by promoting economic development and neighborhood improvement. The foundation aims to strengthen the community by improving the quality of life in surrounding neighborhoods through supportive investments, managed development, and increased opportunities. It advocates for inclusion and improves the community by removing barriers to success and investing in public infrastructure to address local challenges.
Westedge Foundation's activities have resulted in significant economic growth. It has attracted both large and small businesses, generating new jobs and promoting local prosperity. The foundation has also increased property tax revenues, business license revenues, and sales tax revenues, which are used to fund long-term investments in public services and schools. In addition, Westedge Foundation has established a TIF district, dedicating incremental property tax revenues to public investments in infrastructure, drainage, and other public amenities directly in and around the Westedge district.
Westedge Foundation has also focused on expanding access and closing the grocery gap in the community. Prior to its intervention, the west side of the peninsula was a food desert. However, the establishment of a Publix Super Market has increased access to healthy and affordable food options for all residents, particularly lower-income and elderly residents. The foundation has also improved safe routes to schools and provided support for students at Burke High School and Charleston Development Academy.
In terms of housing, Westedge Foundation ensures zero displacement of existing residents and increases Charleston's affordable housing. It has contributed $3 million to affordable housing and, upon full build-out, could add over $7 million and create even more workforce housing units. Westedge Foundation also increases the number and diversity of housing opportunities close to employment centers like the Medical District.
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Impact
October, 2024
Westedge Foundation Inc plays a transformative role in advancing economic development and urban revitalization in Charleston, South Carolina. By promoting supportive investments and managed development, the organization enhances the quality of life for residents in the surrounding neighborhoods. Its initiatives focus on creating opportunities, advocating for inclusivity, and improving public infrastructure to address local challenges.
One significant impact of Westedge is the attraction of businesses, both large and small, which generates new jobs and stimulates local prosperity. This influx contributes to increased property tax, business license revenues, and sales tax revenues, which are vital for funding public services and educational institutions over the long term.
Moreover, Westedge addresses crucial community needs, such as improving access to healthy foods. The introduction of Publix Super Market has effectively reduced the food desert status of the area, providing residents, especially those from lower-income and elderly demographics, with healthier and more affordable food options. Their commitment to enhancing safe routes for students further supports the educational environment within the community.
In terms of housing, Westedge prioritizes community stability by ensuring that existing residents are not displaced during development. The foundation aims to increase affordable housing options, with project partners already contributing significant funds to this cause. As development continues, the potential for further investments could lead to the creation of more workforce housing units, enhancing diversity in housing opportunities near employment centers like the Medical District.
Overall, Westedge Foundation Inc is committed to strengthening the local community through strategic investments that foster economic growth, enhance well-being, and encourage inclusivity.
This information is meant to be a general summary of Westedge Foundation 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: $2,347
- Gross Receipts: $804,235
Assets and Liabilities:
- Total Assets: $15,433,566
- Total Liabilities: $11,847,266
- Net Assets: $3,586,300
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Organization Details
Founding Year
2011
Phone
(843) 209-4939Principal Officer
Michael T Maher
Main Address
PO BOX 20549, CHARLESTON, SC, 29413
NTEE Category
Code: S20 - Community improvement
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