Overview
What is Piedmont Triad Regional Development Corporation?
The Piedmont Triad Regional Development Corporation, situated in Kernersville, North Carolina, is a nonprofit organization dedicated to fostering economic growth and community welfare in its surrounding areas. Through the formulation and execution of a comprehensive economic development strategy, it serves the Piedmont Triad Economic Development District. A significant part of its mission involves processing Small Business Administration (SBA) Section 504 loans, aiming to support local businesses and promote economic development. The organization's activities extend beyond financial assistance, as it actively develops and implements strategies to improve the economic landscape of its region.
Official website here: www.ptrc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 69%)
The Piedmont Triad Regional Development Corporation has received a Two-Star rating from Charity Navigator, indicating areas requiring improvement. The organization boasts a commendable financial health score with a program expense ratio of 90.10%, showcasing a strong commitment to directing funds towards its mission. Additionally, it benefits from a fully independent board, which suggests a commitment to ethical governance.
However, the organization faces significant challenges in terms of accountability and transparency. It scored poorly in key areas such as the absence of financial statements, conflict of interest policy, and whistleblower policy, which are critical for ensuring accountability to stakeholders. The lack of these policies may hinder trust and confidence among donors and the community.
Overall, while there are positive aspects regarding the governance structure and financial health of the Piedmont Triad Regional Development Corporation, the lack of essential accountability measures presents barriers that need to be addressed to improve its standing and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Piedmont Triad Regional Development Corporation legitimate?
Piedmont Triad Regional Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Piedmont Triad Regional 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.
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Official website here: www.ptrc.org
What is the mission statement of Piedmont Triad Regional Development Corporation?
The Piedmont Triad Regional Development Corporation's mission is centered around processing Small Business Administration Section 504 loans and the development and implementation of a comprehensive economic development strategy. This strategy is designed to foster economic growth and improve social welfare in the surrounding areas. The corporation serves to enhance the region's economic prospects by strategically planning and executing initiatives aimed at promoting economic development.
Official website here: www.ptrc.org
Who is the CEO of Piedmont Triad Regional Development Corporation?
Matthew Dolge is the Director of Piedmont Triad Regional Development Corporation.
Official website here: www.ptrc.org
What is the revenue of Piedmont Triad Regional Development Corporation?
Piedmont Triad Regional Development Corporation's revenue in 2023 was $1,204,917.
Official website here: www.ptrc.org
Who are the executives of Piedmont Triad Regional Development Corporation and what are their salaries?
Here are 34 key members and their salaries:
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Official website here: www.ptrc.org
Where can I find the form 990 for Piedmont Triad Regional Development Corporation?
Piedmont Triad Regional Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.ptrc.org
Learn more at the official website: www.ptrc.org
Mission Statement of Piedmont Triad Regional Development Corporation
The Piedmont Triad Regional Development Corporation, in its mission, is dedicated to processing Small Business Administration (SBA) Section 504 loans and developing and implementing a comprehensive economic development strategy for the Piedmont Triad Economic Development District. By performing these tasks, the organization aims to contribute to the economic development and social welfare of the surrounding areas, ultimately fostering a prosperous community.
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Impact
July, 2024
Piedmont Triad Regional Development Corporation has a significant impact on the economic development and social welfare of the surrounding areas. By processing SBA Section 504 loans and implementing a comprehensive economic development strategy for the Piedmont Triad Economic Development District, the organization plays a crucial role in fostering community improvement. Their efforts help businesses thrive, create jobs, and stimulate economic growth in the region.
This information is meant to be a general summary of Piedmont Triad Regional 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: $84,149
- Gross Receipts: $1,204,917
Assets and Liabilities:
- Total Assets: $4,723,817
- Total Liabilities: $420,936
- Net Assets: $4,302,881
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Organization Details
Founding Year
1983
Phone
(336) 904-0300Principal Officer
Matthew Dolge
Main Address
1398 CARROLLTON CROSSING DRIVE, KERNERSVILLE, NC, 27284
Website
www.ptrc.orgNTEE Category
Code: S31 - Community improvement
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