Overview
What is Ninth District Development Financin?
Ninth District Development Financing is a nonprofit organization, specifically an economic development organization, situated in Abingdon, Virginia. Their primary function involves managing a Revolving Loan Fund, which is a financial tool designed to support local businesses and stimulate economic growth within their community. As a development financier, their mission is to contribute to the economic well-being of the ninth district by providing financial resources and fostering sustainable development.
Official website here: www.nddf.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Stars)
Ninth District Development Financing has received a Three-Star rating from Charity Navigator, indicating a generally favorable evaluation primarily based on its Accountability & Finance score of 76%. This score reflects a strong commitment to accountability with a majority of independent board members and no reported material diversion of assets. The organization also maintains a low liabilities to assets ratio, showcasing financial stability.
However, the evaluation highlights some significant areas needing attention. The organization lacks essential governance policies, including a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which collectively detracted from its overall score. Additionally, the nonprofit has not posted its tax form on its website, which is a missed opportunity for transparency.
Despite these limitations, the nonprofit demonstrates a solid program expense ratio, indicating that all of its expenses are directed towards its programs. This commitment to program expenditure is a strength that can positively impact its reputation and effectiveness in the community it serves.
This AI summary has been generated from information found on Charity Navigator.
Is Ninth District Development Financin legitimate?
Ninth District Development Financin is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ninth District Development Financin 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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Official website here: www.nddf.org
What is the mission statement of Ninth District Development Financin?
Ninth District Development Financing is an economic development organization that primarily maintains a Revolving Loan Fund. Its mission is to support economic growth and development by providing financing options to eligible businesses or projects. By doing so, the organization aims to stimulate job creation and promote overall community development. The Revolving Loan Fund allows the organization to continually lend and reinvest funds, making them a valuable resource for local businesses seeking financial assistance.
Official website here: www.nddf.org
Who is the CEO of Ninth District Development Financin?
Leon Moore is the Chair of Ninth District Development Financin.
Official website here: www.nddf.org
What is the revenue of Ninth District Development Financin?
Ninth District Development Financin's revenue in 2022 was $53,944.
Official website here: www.nddf.org
Who are the executives of Ninth District Development Financin and what are their salaries?
Here are 23 key members and their salaries:
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Official website here: www.nddf.org
Where can I find the form 990 for Ninth District Development Financin?
Ninth District Development Financin's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.nddf.org
Learn more at the official website: www.nddf.org
Mission Statement of Ninth District Development Financin
Ninth District Development Financing, as a mission-driven organization, focuses on maintaining a Revolving Loan Fund. This fund serves as a catalyst for economic growth and development within its sphere. By functioning as an economic development organization, Ninth District Development Financing aims to contribute positively to the local community by providing financial support and resources to businesses and projects that align with its objectives. The Revolving Loan Fund allows the organization to continually reinvest the repaid loans back into the fund, ensuring a steady supply of capital for new borrowers. This continuous cycle of loan distribution and repayment is a testament to Ninth District Development Financing's commitment to fostering sustainable economic growth and development.
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Impact
August, 2024
Ninth District Development Financing's impact is significant in fostering economic development and community improvement in Abingdon, VA. Through their Revolving Loan Fund, they provide crucial financial support to local businesses and entrepreneurs, helping them grow and succeed. By investing in the community in this way, Ninth District Development Financing plays a vital role in strengthening the local economy and creating opportunities for sustainable growth.
This information is meant to be a general summary of Ninth District Development Financin. 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: $53,944
- Gross Receipts: $53,944
Assets and Liabilities:
- Total Assets: $1,988,119
- Total Liabilities: $18,887
- Net Assets: $1,969,232
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Organization Details
Phone
(276) 628-9188Principal Officer
Leon Moore
Main Address
PO BOX 983, ABINGDON, VA, 24212
Website
www.nddf.orgNTEE Category
Code: S300 - Community improvement
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