Overview
What is Crosstown Redevelopment Cooperative Association Inc?
Crosstown Redevelopment Cooperative Association Inc is a Memphis, Tennessee-based nonprofit organization with a workforce of two individuals. Their primary mission is to contribute to the revitalization and economic development of the Crosstown neighborhood by actively managing and overseeing the preservation and redevelopment of the Crosstown Project, now known as Crosstown Concourse. They facilitate this role as a manager and/or building owner. The Cooperative Association also engages in partnerships, such as launching WYXR and the Crosstown Radio Partnership with the University of Memphis and The Daily Memphian, which replaced WUMR, 91.7 station. Additionally, they continue to own and support the Crosstown Curb Market, Inc.
What are the reviews and ratings of this charity?
Charity Navigator rating: 84%, Three-Star out of Four Star rating.
Crosstown Redevelopment Cooperative Association Inc has received a solid Three-Star rating, reflecting its strong performance in accountability and finance. With an overall score of 84%, the organization demonstrates a commitment to transparency and ethical management. Notably, it has an independent board comprised of 88% independent members, which contributes positively to its governance structure.
The organization scored exceptionally well in key areas, such as having no material diversion of assets and a fully compliant conflict of interest policy. It also effectively documents board meeting minutes and maintains a favorable liabilities to assets ratio, indicating sound financial health. The program expense ratio is also commendable, signifying that a significant portion of funds is directed towards its programs.
While the financial health and accountability aspects reflect positively on the organization, the rating is derived solely from the accountability and finance beacon, which may limit the overall picture of its impact and effectiveness in achieving its mission. Nonetheless, the robust governance structure and financial practices suggest that Crosstown Redevelopment Cooperative Association Inc is well-managed and responsible in its operations.
This AI summary has been generated from information found on Charity Navigator.
Is Crosstown Redevelopment Cooperative Association Inc legitimate?
Crosstown Redevelopment Cooperative Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Crosstown Redevelopment Cooperative Association 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: $250,598
Professional Fundraising Fees: $0
Other Salaries and Wages: $70,154
For more financial information, click here
What is the mission statement of Crosstown Redevelopment Cooperative Association Inc?
The Crosstown Redevelopment Cooperative Association Inc is dedicated to revitalizing and economically developing a neighborhood through the management, preservation, and redevelopment of a project, known as Crosstown Concourse. They facilitate these efforts by acting as a manager and/or member of building owners. Their goal is to breathe new life into the community by overseeing the restoration and transformation of the area. The Association's work encompasses a range of activities, from acting as a manager to becoming a member of building ownership, all in an effort to revitalize and develop the neighborhood. Their commitment is to contribute positively to the growth and renewal of the community.
Who is the CEO of Crosstown Redevelopment Cooperative Association Inc?
Todd Richardson is the Chairman of Crosstown Redevelopment Cooperative Association Inc.
What is the revenue of Crosstown Redevelopment Cooperative Association Inc?
Crosstown Redevelopment Cooperative Association Inc's revenue in 2022 was $20,419,420.
Who are the executives of Crosstown Redevelopment Cooperative Association Inc and what are their salaries?
The average compensation at Crosstown Redevelopment Cooperative Association Inc during 2022 was $160,376. There are 2 employees at Crosstown Redevelopment Cooperative Association Inc.
Here are 9 key members and their salaries:
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- Compensation: $250,598
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- Other: $14,000
Where can I find the form 990 for Crosstown Redevelopment Cooperative Association Inc?
Crosstown Redevelopment Cooperative Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Crosstown Redevelopment Cooperative Association Inc
The Crosstown Redevelopment Cooperative Association Inc is a nonprofit organization dedicated to revitalizing and economically developing the Crosstown neighborhood in Memphis, Tennessee. Through their mission, they facilitate and assist in the management, preservation, and redevelopment of the Crosstown Project, now known as Crosstown Concourse. The Association's role encompasses acting as a manager and/or member of building owner, enabling them to make a significant impact on the community's revitalization. By working towards the restoration and enhancement of the Crosstown neighborhood, the Crosstown Redevelopment Cooperative Association Inc contributes to creating a vibrant and thriving area for residents and businesses alike. This mission is essential for the continued growth and prosperity of Crosstown, ensuring its transformation into a desirable and sustainable community.
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Impact
October, 2024
Crosstown Redevelopment Cooperative Association Inc has played a pivotal role in the revitalization and economic development of the Crosstown neighborhood in Memphis, Tennessee. Its efforts have focused on managing, preserving, and redeveloping the Crosstown Project, now known as Crosstown Concourse, transforming a significant area into a vibrant hub for the community.
By overseeing operations and programming at Crosstown Concourse, the association has fostered an environment that encourages local engagement, cultural activities, and economic opportunities. The launch of WYXR and the Crosstown radio partnership demonstrates their commitment to enhancing community connectivity through media and arts, providing a platform that reflects local voices and perspectives.
Additionally, Crosstown Curb Market Inc., under their guidance, supports local vendors and artisans, promoting sustainability and enhancing access to fresh produce while creating a gathering space for residents. This integration of various initiatives has not only rejuvenated the neighborhood but also inspired a sense of community pride and collaboration. Their impact is visible in both the physical transformation of the area and the strengthened sense of community among its residents.
This information is meant to be a general summary of Crosstown Redevelopment Cooperative Association 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: $346,132
- Gross Receipts: $20,419,420
Assets and Liabilities:
- Total Assets: $26,466,461
- Total Liabilities: $1,212,003
- Net Assets: $25,254,458
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEE INCOME
Revenue
$346,132
Organization Details
Founding Year
2014
Phone
(901) 507-1179Principal Officer
Todd Richardson
Main Address
20 HULING AVENUE, MEMPHIS, TN, 38103
NTEE Category
Code: S30 - Community improvement
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