Overview
What is New Durham Corporation?
New Durham Corporation is a nonprofit organization situated in Durham, North Carolina, with the mission to foster the growth and improvement of the city. Established to lessen the financial burden on the government, the corporation facilitates public development projects through innovative financing methods, rather than relying on municipal financing. Its primary objective is to revitalize the City of Durham, achieving this by acquiring, constructing, or leasing real estate, facilities, and equipment for public use. The organization operates as a means to enhance the city's infrastructure, ultimately benefiting the community as a whole.
Is New Durham Corporation legitimate?
New Durham Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Durham 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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What is the mission statement of New Durham Corporation?
The New Durham Corporation's mission is centered around promoting and fostering the revitalization of a city, specifically identified as unspecified, but implied to be Durham North Carolina. They accomplish this mission by engaging in various activities such as the acquisition, construction, and leasing of real estate, facilities, improvements, and equipment. These initiatives are primarily aimed at serving the public, with the intention of alleviating the burden on the government by utilizing specialized financing alternatives instead of municipal financing. The corporation also serves as a vehicle for municipal financing within the city.
Who is the CEO of New Durham Corporation?
Wanda Page is the President of New Durham Corporation.
What is the revenue of New Durham Corporation?
New Durham Corporation's revenue in 2023 was $7,352,191.
Who are the executives of New Durham Corporation and what are their salaries?
There 3 volunteers at New Durham Corporation.
Here are 3 key members and their salaries:
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Where can I find the form 990 for New Durham Corporation?
New Durham Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of New Durham Corporation
New Durham Corporation, as a nonprofit organization, is dedicated to fostering the revitalization of a city, specifically Durham, North Carolina. The corporation achieves this mission by engaging in various real estate activities. It acquires, constructs, or leases properties, facilities, equipment, and improvements, all with the intention of serving the public's needs. This approach allows the organization to lessen the government's burdens in financing public improvements, offering alternative financing options. Moreover, New Durham Corporation serves as a tool for municipal financing, contributing to the overall development of the city.
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Impact
October, 2024
New Durham Corporation plays a crucial role in the revitalization of the City of Durham, North Carolina. By facilitating public improvements and addressing community needs, it serves as a vital partner to the local government. The organization leverages special financing alternatives to ease the financial burdens typically associated with municipal projects, allowing for more innovative and efficient development.
Through its efforts, New Durham Corporation actively acquires, constructs, and leases real estate and facilities that benefit the general public. This approach not only enhances the city’s infrastructure but also fosters a sense of community by improving public spaces and resources. The organization’s mission aligns closely with the broader goals of urban revitalization, making it a key player in Durham's ongoing development and transformation.
This information is meant to be a general summary of New Durham 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.
- Program Service Revenue: $7,352,191
- Gross Receipts: $7,352,191
Assets and Liabilities:
- Total Assets: $226,600,958
- Total Liabilities: $226,600,958
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FINANCING INCOME
Revenue
$7,352,191
Organization Details
Founding Year
1986
Phone
(919) 560-4455Principal Officer
Wanda Page
Main Address
101 City Hall Plaza, Durham, NC, 27701
NTEE Category
Code: S410 - Community improvement
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