Overview
What is Downtown Smithfield Development Corporation?
The Downtown Smithfield Development Corporation is a nonprofit organization with an objective to stimulate economic growth in the downtown area. While specific details about its activities, reach, or employee count are unavailable in the provided information, it is known that their primary mission is to foster downtown development. By doing so, they aim to contribute positively to the local economy and community.
Official website here: www.downtownsmithfield.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 36% (Zero-Star out of Four Star rating)
The Downtown Smithfield Development Corporation has received a low rating of 36%, which corresponds to a Zero-Star rating. This score is derived entirely from an Accountability & Finance assessment, indicating significant concerns regarding its financial practices. The organization has some strengths, such as having a fully independent board and no material diversion of assets, which shows a commitment to governance.
However, the organization lacks essential policies, such as a conflict of interest policy and a whistleblower policy, both of which are critical for transparency and accountability. Furthermore, the program expense ratio is notably low at 49.99%, suggesting that less than half of its expenditures are directed towards its programs, raising questions about its operational efficiency and impact.
Overall, while the Downtown Smithfield Development Corporation demonstrates good governance through its independent board, it faces serious challenges in financial accountability and policy implementation that may hinder its effectiveness as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Downtown Smithfield Development Corporation legitimate?
Downtown Smithfield Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Downtown Smithfield 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: $44,864
For more financial information, click here
Official website here: www.downtownsmithfield.com
What is the mission statement of Downtown Smithfield Development Corporation?
The Downtown Smithfield Development Corporation's mission is focused on fostering economic growth in the downtown area. Their primary objective is to promote sustainable development, aiming to enhance the economic vitality of the downtown sector. By doing so, they contribute to the overall improvement and revitalization of the community. The corporation's activities may include attracting businesses, encouraging investment, and implementing initiatives that boost the economic appeal of the downtown area. Their mission ultimately seeks to create a thriving and prosperous downtown environment, benefiting both local businesses and the community as a whole.
Official website here: www.downtownsmithfield.com
Who is the CEO of Downtown Smithfield Development Corporation?
Troy Brindle is the Director of Downtown Smithfield Development Corporation.
Official website here: www.downtownsmithfield.com
What is the revenue of Downtown Smithfield Development Corporation?
Downtown Smithfield Development Corporation's revenue in 2023 was $169,018.
Official website here: www.downtownsmithfield.com
Who are the executives of Downtown Smithfield Development Corporation and what are their salaries?
The average compensation at Downtown Smithfield Development Corporation during 2023 was $44,864. There is 1 employee at Downtown Smithfield Development Corporation.
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Official website here: www.downtownsmithfield.com
Where can I find the form 990 for Downtown Smithfield Development Corporation?
Downtown Smithfield Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.downtownsmithfield.com
Learn more at the official website: www.downtownsmithfield.com
Mission Statement of Downtown Smithfield Development Corporation
Downtown Smithfield Development Corporation, abbreviated as DSDC, is dedicated to advancing the economic development of the downtown area. Their primary mission is to promote the economic growth and revitalization of the downtown sector, aiming to enhance its overall appeal and competitiveness. By fostering a thriving downtown area, DSDC contributes to the overall well-being and prosperity of the community as a whole. The corporation does not provide specific details about its strategies or initiatives, but their mission implies a commitment to improving the local economy and attracting businesses, residents, and visitors to the downtown district.
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Impact
October, 2024
Downtown Smithfield Development Corporation plays a crucial role in fostering economic growth and enhancing the vibrancy of the downtown area in Smithfield, NC. By promoting initiatives that stimulate local businesses and attract visitors, it helps revitalize the community, making it more appealing for residents and tourists alike.
The organization focuses on community improvement, implementing strategies that support economic development and draw attention to the unique offerings of downtown Smithfield. Through its efforts, it contributes to creating a more dynamic urban landscape, which can lead to increased job opportunities, improved public spaces, and a stronger sense of community. As a result, the activities of Downtown Smithfield Development Corporation are instrumental in shaping a thriving, sustainable environment that benefits both the local economy and quality of life for its residents.
This information is meant to be a general summary of Downtown Smithfield 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 2023.
- Investment Income: $197
- Program Service Revenue: $7,103
- Gross Receipts: $169,018
Assets and Liabilities:
- Total Assets: $183,352
- Total Liabilities: $0
- Net Assets: $183,352
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FESTIVAL REVENUE
Revenue
$7,103
Organization Details
Phone
(919) 934-0887Principal Officer
Troy Brindle
Main Address
200 SOUTH FRONT STREET, SMITHFIELD, NC, 27577
Website
www.downtownsmithfield.comNTEE Category
Code: S20Z - Community improvement
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