Overview
What is Udi Community Development Corporation?
Udi Community Development Corporation is a nonprofit organization located in Durham, North Carolina, specifically at 631 United Drive STE 100. Their primary mission is to stimulate economic and community development in the area, with a particular focus on uplifting the economic status of disadvantaged and low-income residents in Durham. They achieve this by managing and maintaining the 91-acre UDI Industrial Park, providing a platform for local entrepreneurs. The organization also expands the business skills of these entrepreneurs, fosters cooperative partnerships, and actively promotes job creation and retention within the Durham corridor. Notably, they have a Revolving Loan Fund that provides financial assistance to local businesses, as demonstrated by disbursing funds to three businesses amounting to $180,000 during the year in question.
Official website here: www.udicdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating
Udi Community Development Corporation has received a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance, scoring 96%. The rating is based solely on a single beacon score, emphasizing the charity's exceptional performance in financial health, governance, and transparency.
The organization boasts a fully independent board with 100% independent members and a strong oversight committee, indicating robust governance practices. Additionally, Udi’s financial management shows a favorable liabilities-to-assets ratio of 23.66% and a program expense ratio of 71.31%, highlighting its effective allocation of funds towards its mission.
While the data points to strong organizational strengths, there are no noted limitations in the provided information. This solid rating reflects Udi Community Development Corporation's dedication to operating with integrity and efficiency, making it a trustworthy option for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Udi Community Development Corporation legitimate?
Udi Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Udi Community Development Corporation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $140,064
For more financial information, click here
Official website here: www.udicdc.org
What is the mission statement of Udi Community Development Corporation?
The Udi Community Development Corporation's mission is centered around stimulating economic and community development. Its primary objective is to enhance the economic well-being of underprivileged residents. The corporation also manages industrial park facilities. Beyond this, it aims to empower local entrepreneurs from historically disadvantaged communities, expanding their business skills, fostering cooperative partnerships, and promoting job creation and retention. Notably, the corporation has a Revolving Loan Fund, which provided financial aid to three businesses during the year, amounting to 180,000.
Official website here: www.udicdc.org
Who is the CEO of Udi Community Development Corporation?
William V Bell is the Chairman of Udi Community Development Corporation.
Official website here: www.udicdc.org
What is the revenue of Udi Community Development Corporation?
Udi Community Development Corporation's revenue in 2022 was $1,121,579.
Official website here: www.udicdc.org
Who are the executives of Udi Community Development Corporation and what are their salaries?
The average compensation at Udi Community Development Corporation during 2022 was $70,032. There are 2 employees at Udi Community Development Corporation.
Here are 8 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.udicdc.org
Where can I find the form 990 for Udi Community Development Corporation?
Udi Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.udicdc.org
Learn more at the official website: www.udicdc.org
Mission Statement of Udi Community Development Corporation
Udi Community Development Corporation, a nonprofit organization, is committed to fostering economic and community development in Durham, North Carolina. Their mission is to enhance the economic well-being of the city's low-income and underprivileged residents. To achieve this, Udi Community Development Corporation maintains industrial park facilities. Beyond this, the corporation also seeks to empower local entrepreneurs from historically disadvantaged communities. They do this by expanding their business skills, facilitating cooperative partnerships, and promoting job creation and retention within the Durham corridor. Notable initiatives include the Gateway Project, which involves the renovation and upfit of a mixed-use facility in Downtown Durham, providing space for retail, business incubation, offices, and residential accommodations. Furthermore, the organization manages a Revolving Loan Fund, which in the previous year, provided financing to three businesses, totaling 180,000 dollars.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Udi Community Development Corporation's impact can be seen in the tangible improvements made to the economic and community landscape of Durham, NC. By developing and maintaining the UDI Industrial Park, they have provided a platform for historically disadvantaged and low asset entrepreneurs to expand their businesses and create job opportunities. Additionally, through initiatives like the Gateway Project, they are revitalizing areas of Downtown Durham by renovating mixed-use facilities for various purposes, such as retail, business incubation, offices, and residential accommodations.
Furthermore, their Revolving Loan Fund has directly supported local businesses by providing funding for growth and development. This strategic investment has not only helped individual businesses thrive but has also contributed to the overall economic empowerment of low-income and underprivileged residents in Durham. Overall, Udi Community Development Corporation's dedication to community improvement is evident in their efforts to foster economic growth and create opportunities for all members of the Durham community.
This information is meant to be a general summary of Udi Community Development Corporation. 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: $496
- Program Service Revenue: $885,286
- Gross Receipts: $1,121,579
Assets and Liabilities:
- Total Assets: $9,344,908
- Total Liabilities: $2,211,191
- Net Assets: $7,133,717
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rental Income
Revenue
$856,466
RLF Income
Revenue
$24,703
Other Fees
Revenue
$4,117
Organization Details
Founding Year
1974
Phone
(919) 544-4597Principal Officer
William V Bell
Main Address
631 United Drive STE 100, Durham, NC, 27713
Website
www.udicdc.orgNTEE Category
Code: S31 - Community improvement
If you are a representative of Udi Community Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.