Overview
What is Phoenix Economic Development Corpor?
Phoenix Economic Development Corporation is a nonprofit organization situated in Decatur, Illinois, specifically at 1969 N Main St. Their primary mission is to extend housing opportunities to underserved communities. To achieve this goal, they actively engage in various initiatives, providing essential resources to those in need. The organization's work is focused on creating a positive impact in its local community, contributing to a more inclusive and equitable housing landscape.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79%, Three-Star out of Four Star rating.
Phoenix Economic Development Corporation has received a Three-Star rating, reflecting a strong performance in accountability and finance. The organization boasts a perfect score for its independent board members, with all ten board members being independent, which enhances its governance quality. Additionally, there are no reported issues regarding asset diversion, and the organization maintains comprehensive policies on conflicts of interest and whistleblower protection.
However, the charity's overall score is affected by a concerning liabilities to assets ratio of 128.56%, indicating potential financial instability. Despite high program expense ratios, suggesting that a significant portion of its funds is directed towards programmatic activities, the financial health highlighted by the liabilities may raise concerns for potential donors and stakeholders. Overall, while the organization shows strength in governance and operational integrity, its financial ratios may require closer examination.
This AI summary has been generated from information found on Charity Navigator.
Is Phoenix Economic Development Corpor legitimate?
Phoenix Economic Development Corpor is a legitimate nonprofit organization registered as a 501(c)(3) entity. Phoenix Economic Development Corpor 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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What is the mission statement of Phoenix Economic Development Corpor?
The Phoenix Economic Development Corporation, as per its mission, is dedicated to offering housing opportunities to underserved individuals. This organization's primary goal is to cater to the housing needs of those who may be overlooked or lack access to such opportunities. By providing housing, they aim to make a significant impact on the lives of these individuals, thereby contributing to a more equitable community. The corporation's activities are centered around this mission, working tirelessly to identify and address housing-related challenges faced by the underserved population.
Who is the CEO of Phoenix Economic Development Corpor?
Ron Butler is the President of Phoenix Economic Development Corpor.
What is the revenue of Phoenix Economic Development Corpor?
Phoenix Economic Development Corpor's revenue in 2022 was $68,980.
Who are the executives of Phoenix Economic Development Corpor and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Phoenix Economic Development Corpor?
Phoenix Economic Development Corpor's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Phoenix Economic Development Corpor
Phoenix Economic Development Corporation, in its mission, focuses on providing housing opportunities to the underserved. This nonprofit organization works tirelessly to ensure that individuals who are in need of housing have access to suitable living spaces. By doing so, it strives to make a positive impact on the community and improve the living conditions of those who are often overlooked.
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Impact
August, 2024
Phoenix Economic Development Corporation's impact can be seen in the increased availability of housing opportunities for the underserved population in Decatur, IL. Their focused mission of providing housing options to those in need has contributed to community improvement and the overall well-being of residents in the area. Through their efforts, Phoenix Economic Development Corporation has played a vital role in addressing housing challenges and creating a more stable living environment for vulnerable individuals and families.
This information is meant to be a general summary of Phoenix Economic Development Corpor. 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.
- Gross Receipts: $68,980
Assets and Liabilities:
- Total Assets: $516,771
- Total Liabilities: $664,389
- Net Assets: -$147,618
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Organization Details
Founding Year
2013
Principal Officer
Ron Butler
Main Address
1969 N MAIN ST, Decatur, IL, 62526
NTEE Category
Code: S31 - Community improvement
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