Overview
What is Newark Development Partners?
Newark Development Partners is a nonprofit organization situated in Newark, Ohio. Its primary goal is to stimulate economic growth within the city by encouraging investments. This initiative aims to alleviate local poverty, promote sustainable economic development, generate employment opportunities, and enhance the business, industrial, and residential sectors of Newark, Ohio. The organization operates with a small team of two dedicated individuals, working diligently to achieve these objectives.
Official website here: www.wedignewark.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star rating)
Newark Development Partners has earned an impressive Four-Star rating from Charity Navigator, reflecting its strong performance in accountability and finance. The organization scored 92% overall, indicating a high level of transparency and effective financial management. The rating is based solely on the Accountability & Finance beacon, which suggests a solid foundation in maintaining ethical standards and operational integrity.
One of the standout features of Newark Development Partners is its governance structure, which includes a fully independent board composed of nine members. The organization also demonstrates a robust approach to financial oversight, as evidenced by its perfect scores in audit quality and asset management. The absence of material asset diversion further enhances its credibility, showcasing responsible stewardship of funds.
However, while the organization excels in many areas, it has been noted that it lacks a whistleblower policy, which could be a potential area for improvement. Overall, Newark Development Partners demonstrates a commitment to accountability and effective financial practices, making it a trustworthy option for potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Newark Development Partners legitimate?
Newark Development Partners is a legitimate nonprofit organization registered as a 501(c)(3) entity. Newark Development Partners 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: $143,688
Professional Fundraising Fees: $0
Other Salaries and Wages: $24,580
For more financial information, click here
Official website here: www.wedignewark.com
What is the mission statement of Newark Development Partners?
Newark Development Partners, as an organization, is committed to alleviating poverty and reducing the burden on city government. They achieve this by incentivizing investments within their city, promoting and sustaining economic development. This initiative aims to create job opportunities and enhance the business, industrial, and residential living areas. Ultimately, their mission is to improve the city's overall economic well-being.
Official website here: www.wedignewark.com
Who is the CEO of Newark Development Partners?
Noble B Snow Iii is the Chairman of Newark Development Partners.
Official website here: www.wedignewark.com
What is the revenue of Newark Development Partners?
Newark Development Partners's revenue in 2022 was $866,644.
Official website here: www.wedignewark.com
Who are the executives of Newark Development Partners and what are their salaries?
The average compensation at Newark Development Partners during 2022 was $84,134. There are 2 employees and 50 volunteers at Newark Development Partners.
Here are 11 key members and their salaries:
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- Compensation: $143,688
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Official website here: www.wedignewark.com
Where can I find the form 990 for Newark Development Partners?
Newark Development Partners's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wedignewark.com
Learn more at the official website: www.wedignewark.com
Mission Statement of Newark Development Partners
Newark Development Partners, as an organization, is committed to lessening the burdens of city government and alleviating poverty in the local area. They achieve this mission by incentivizing investments within the city, with the ultimate goal of promoting and sustaining economic development. This initiative creates job opportunities and enhances the business, industrial, and residential living areas of the city. In essence, Newark Development Partners is dedicated to encouraging economic growth and improvement in its community, aiming to uplift its citizens and foster a thriving local economy.
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Impact
July, 2024
Newark Development Partners works to encourage economic development in Newark, Ohio, by incentivizing investments that promote and sustain economic growth, create jobs, and enhance the overall business, industrial, and residential areas of the city. Their efforts help lessen the burdens on city government and alleviate poverty in the local area by fostering a more prosperous and vibrant community. Through their initiatives, Newark Development Partners significantly impacts the city's economic landscape, driving positive change and improvement in various key areas of development.
This information is meant to be a general summary of Newark Development Partners. 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: $208,384
- Program Service Revenue: $105,644
- Gross Receipts: $1,433,938
Assets and Liabilities:
- Total Assets: $12,379,098
- Total Liabilities: $663,651
- Net Assets: $11,715,447
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SPECIAL PROJECTS
Revenue
$105,644
Organization Details
Founding Year
2012
Phone
(740) 349-9340Principal Officer
Noble B Snow Iii
Main Address
PO BOX 4532, NEWARK, OH, 430584532
Website
www.wedignewark.comNTEE Category
Code: S31 - Community improvement
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