Overview
What is Florence Downtown Development Corporation Inc?
Florence Downtown Development Corporation Inc is a non-profit organization based in Florence, South Carolina, specifically located at 324 W Evans Street. Their primary mission is to facilitate and promote the redevelopment and revitalization of the downtown area of the city. They achieve this mission through various events and initiatives. One of their key events is the Pecan Festival, a weekend celebration held in November. They also host Florence After Five, an event that takes place on Friday afternoons during warm weather months, which aims to promote local vendors in the downtown district. Furthermore, the Art Trail initiative encourages various art mediums within the downtown area. Beyond these events, the Corporation also organizes numerous other activities throughout the year, all geared towards promoting the redevelopment and revitalization of the downtown redevelopment district. While the specifics of these activities are not detailed, it's clear that the Corporation plays a significant role in enhancing the downtown area of Florence, South Carolina.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Florence Downtown Development Corporation Inc has received a two-star rating from Charity Navigator, with an overall score of 73%. This rating reflects a solid performance in accountability and finance, demonstrating strengths such as a fully independent board and no material diversion of assets. Additionally, the organization has an impressive program expense ratio of 99.28%, indicating that most of its resources are directed towards its mission.
However, several critical areas were identified where the organization falls short. The absence of key policies, including a conflict of interest policy, a whistleblower policy, and a document retention policy, raises concerns about governance and transparency. Furthermore, the organization's website is lacking essential documents, such as its tax form, which affects its score in accountability.
Overall, while the Florence Downtown Development Corporation shows strong fiscal responsibility and a dedicated board, improvements in policy implementation and transparency are necessary for enhancing its overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Florence Downtown Development Corporation Inc legitimate?
Florence Downtown Development Corporation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Florence Downtown Development Corporation 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.
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What is the mission statement of Florence Downtown Development Corporation Inc?
The Florence Downtown Development Corporation Inc is dedicated to driving the redevelopment and revitalization of a specific urban district. Their primary mission is to stimulate the growth and transformation of this area, with the aim of making it more vibrant and appealing. They execute this goal through various means, such as organizing events like the Pecan Festival and Florence After Five, which support local vendors. Additionally, they foster creativity by promoting artistic expression through the Art Trail, and regularly host other events throughout the year to further enhance the district's appeal.
Who is the CEO of Florence Downtown Development Corporation Inc?
Michael Scott Collins is the Board Chairman of Florence Downtown Development Corporation Inc.
What is the revenue of Florence Downtown Development Corporation Inc?
Florence Downtown Development Corporation Inc's revenue in 2022 was $349,597.
Who are the executives of Florence Downtown Development Corporation Inc and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Florence Downtown Development Corporation Inc?
Florence Downtown Development Corporation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Florence Downtown Development Corporation Inc
The Florence Downtown Development Corporation Inc, a dedicated nonprofit organization, focuses on the redevelopment and revitalization of the downtown redevelopment district. With a clear vision, this corporation works tirelessly to transform the city's downtown area, making it a vibrant and thriving hub.
The organization facilitates a variety of events and initiatives designed to boost the downtown area's appeal. The Pecan Festival, held annually during November, is one such event that attracts a large crowd, adding to the district's lively atmosphere. Another event, Florence After Five, takes place on Friday afternoons during warmer months, aiming to draw attention to the downtown vendors.
Furthermore, the corporation encourages artistic expression in the downtown area through the Art Trail, promoting various art mediums. These events and more, which occur throughout the year, contribute significantly to the continued development and revitalization of the downtown district.
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Impact
June, 2024
Florence Downtown Development Corporation Inc's impact is evident in its efforts to promote the redevelopment and revitalization of the downtown district of Florence. Through events such as the Pecan Festival, Florence After Five, and the Art Trail, the Corporation actively engages the community and encourages economic growth in the city. By facilitating a vibrant downtown area, they contribute to the overall prosperity and cultural richness of Florence, South Carolina.
This information is meant to be a general summary of Florence Downtown Development Corporation 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: $4,314
- Program Service Revenue: $265,960
- Gross Receipts: $349,597
Assets and Liabilities:
- Total Assets: $1,241,699
- Total Liabilities: $6,077
- Net Assets: $1,235,622
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Sales
Revenue
$97,911
Vendor Fees
Revenue
$59,723
Registration Fees
Revenue
$9,665
Memberships and Sponsorships
Revenue
$98,661
Organization Details
Founding Year
2002
Phone
(843) 678-5913Principal Officer
Michael Scott Collins
Main Address
324 W Evans Street, Florence, SC, 29503
NTEE Category
Code: C50 - Environment
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