Overview
What is Greater Portsmouth Development Corp?
Greater Portsmouth Development Corp is a nonprofit organization situated in Portsmouth, Virginia, at 739 High Street. Their primary objective is to stimulate industrial and economic growth within the city. They achieve this by assisting existing industries, improving them, and aiding prospective industries in acquiring land and buildings, particularly in blighted areas. Additionally, they leverage funds for the acquisition of deteriorating properties or contribute to other redevelopment projects within the city. By doing so, Greater Portsmouth Development Corp aims to strengthen and revitalize the local economy.
Is Greater Portsmouth Development Corp legitimate?
Greater Portsmouth Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Portsmouth Development Corp 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 Greater Portsmouth Development Corp?
The Greater Portsmouth Development Corp's mission is centered around promoting economic development within a specific city. They accomplish this by leveraging funds to acquire deteriorating properties and assist in various redevelopment projects. Additionally, the corporation stimulates interest in industrial and economic development, improves and develops existing industries, and assists prospective industries in acquiring land and buildings in blighted areas. In essence, their goal is to revitalize the economy by investing in property and business development.
Who is the CEO of Greater Portsmouth Development Corp?
David R Tynch is the President of Greater Portsmouth Development Corp.
What is the revenue of Greater Portsmouth Development Corp?
Greater Portsmouth Development Corp's revenue in 2020 was -$1,705,982.
Who are the executives of Greater Portsmouth Development Corp and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Greater Portsmouth Development Corp?
Greater Portsmouth Development Corp's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of Greater Portsmouth Development Corp
Greater Portsmouth Development Corp, as a nonprofit organization, is committed to fostering economic development within its respective city. This is achieved through two primary strategies. Firstly, the corporation leverages funds to acquire deteriorating properties, aiming to revitalize these areas. Secondly, it assists the city in various redevelopment projects, contributing to the overall improvement and growth of the industrial sector. By stimulating interest in economic development, assisting existing industries, and aiding prospective industries in acquiring land and buildings in blighted areas, Greater Portsmouth Development Corp plays a significant role in driving the city's economic progress.
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Impact
October, 2024
Greater Portsmouth Development Corp plays a crucial role in revitalizing the economic landscape of Portsmouth, Virginia. By focusing on the acquisition and redevelopment of deteriorating properties, the organization is instrumental in transforming blighted areas into productive spaces that can attract new businesses and industries.
This commitment to economic development not only stimulates interest in Portsmouth as an industrial hub but also nurtures existing industries by facilitating their growth and expansion. By providing resources and support for the acquisition of land and buildings, the organization helps potential industries establish a presence in the city, ultimately contributing to job creation and community improvement.
Through its initiatives, Greater Portsmouth Development Corp fosters an environment conducive to economic growth, enhancing the overall quality of life for residents while driving significant progress in the local economy. The impact of their efforts is measurable in the revitalization of neighborhoods, increased property values, and a more robust job market, making Portsmouth a more attractive place for both businesses and families.
This information is meant to be a general summary of Greater Portsmouth Development Corp. 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 2020.
- Investment Income: -$1,717,154
- Gross Receipts: $1,022,018
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
1997
Phone
(757) 397-8473Principal Officer
David R Tynch
Main Address
739 HIGH STREET, PORTSMOUTH, VA, 23704
NTEE Category
Code: S30 - Community improvement
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