Overview
What is Goodsource Of Central Florida Inc?
Goodsource Of Central Florida Inc is a nonprofit organization situated in Orlando, Florida. Their primary objective is to support and stimulate capital investment and business operations in underserved and impoverished communities across the United States. They accomplish this by leasing a retail store and donation center, which they acquired through a New Markets Tax Credit program. This strategy aims to encourage growth and development within these communities.
Is Goodsource Of Central Florida Inc legitimate?
Goodsource Of Central Florida Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Goodsource Of Central Florida 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: $3,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Goodsource Of Central Florida Inc?
Goodsource of Central Florida Inc's mission is centered around supporting and encouraging capital investment and business operations in low-income and impoverished communities across the United States. They accomplish this by leasing a retail and donation center, an activity initiated through a new markets tax credit program. The acquisition and leasing of this property serve to stimulate and encourage financial investments and business operations within these communities. Goodsource purchased the retail store and donation center from Goodwill Industries of Central Florida, Inc., and subsequently leased it back to them, thereby contributing to the economic growth of underprivileged communities.
Who is the CEO of Goodsource Of Central Florida Inc?
Edward J Durkee is the Chairman of Goodsource Of Central Florida Inc. The CEO's salary of Goodsource Of Central Florida Inc is $1,500 and their total compensation is $1,500.
What is the revenue of Goodsource Of Central Florida Inc?
Goodsource Of Central Florida Inc's revenue in 2022 was $355,631.
Who are the executives of Goodsource Of Central Florida Inc and what are their salaries?
There 5 volunteers at Goodsource Of Central Florida Inc.
Here are 7 key members and their salaries (Goodsource Of Central Florida Inc's CEO's salary is $1,500 and their total compensation is $1,500):
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- Compensation: $1,500
- Related: $0
- Other: $0
- Compensation: $1,500
- Related: $0
- Other: $0
Where can I find the form 990 for Goodsource Of Central Florida Inc?
Goodsource Of Central Florida Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Goodsource Of Central Florida Inc
Goodsource Of Central Florida, a nonprofit organization, is committed to fostering and encouraging capital investment and business operations within low-income and impoverished communities across the United States. They accomplish this mission by acquiring, owning, and leasing a retail store and donation center. This leasing process is facilitated through a New Markets Tax Credit program, which serves to stimulate and promote financial investments in these underserved communities. By purchasing the retail store and donation center of Goodwill Industries of Central Florida, Inc. under this tax credit program and subsequently leasing the property back to Goodwill, Goodsource Of Central Florida plays a significant role in driving and encouraging capital investment and business operations in economically disadvantaged areas.
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Impact
October, 2024
Goodsource of Central Florida Inc plays a significant role in fostering economic growth and development in low-income and impoverished communities in the United States. By acquiring and leasing a retail store and donation center, Goodsource creates opportunities for capital investment and supports local business operations. This initiative not only provides essential goods and services to the community but also stimulates job creation and enhances the local economy.
Through its strategic use of the New Markets Tax Credit program, Goodsource leverages financial resources to drive meaningful change in communities that traditionally face economic challenges. This helps to build a sustainable infrastructure for business growth, facilitating greater access to employment opportunities and essential services for residents.
The presence of Goodsource enables organizations like Goodwill Industries of Central Florida to continue their mission, further promoting charitable activities and social services that benefit the community. Overall, Goodsource of Central Florida Inc significantly contributes to the economic vitality and resilience of the areas it serves.
This information is meant to be a general summary of Goodsource Of Central Florida 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.
- Program Service Revenue: $355,631
- Gross Receipts: $355,631
Assets and Liabilities:
- Total Assets: $9,230,377
- Total Liabilities: $5,780,667
- Net Assets: $3,449,710
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME
Revenue
$206,741
RENTAL INCOME
Revenue
$148,890
Organization Details
Founding Year
2013
Phone
(407) 857-0659Principal Officer
Edward J Durkee
Main Address
7531 S ORANGE BLOSSOM TRAIL, ORLANDO, FL, 32809
NTEE Category
Code: P20 - Human services
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