Overview
What is Belmont Community Development Corporation?
Belmont Community Development Corporation (Belmont CDC) is a nonprofit organization situated in Charlotte, North Carolina. Its primary objective is to enhance the living conditions of the Belmont neighborhood's residents by focusing on housing improvements and offering educational and business opportunities. By employing both traditional and innovative strategies for community economic development, Belmont CDC aims to preserve the neighborhood's historical integrity. The organization strives to provide affordable housing, educational prospects, and job opportunities with living wages. Additionally, it encourages entrepreneurship and business development, offers services for low-to-moderate-income residents, and guarantees their involvement in the community's economic revitalization. Belmont CDC operates with a modest workforce of two dedicated individuals.
Official website here: www.belmontcdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 74%, earning a Two-Star out of Four Star rating. The rating reflects the organization's accountability and finance practices, which score a total of 74 points. Belmont Community Development Corporation demonstrates strong governance with a fully independent board and effective policies in place for conflict of interest and whistleblowing.
Among its strengths, the organization excels in maintaining a majority independent board and has a solid liabilities to assets ratio, indicating sound financial health. However, the program expense ratio is notably low at 51.49%, suggesting that only a small portion of its expenses goes directly towards its programs, which may raise concerns about the effectiveness of its resource allocation.
Overall, while Belmont Community Development Corporation shows commendable governance and financial oversight, the low program expense ratio indicates potential limitations in its operational effectiveness. Stakeholders may want to consider these factors in assessing the organization's impact and efficiency.
This AI summary has been generated from information found on Charity Navigator.
Is Belmont Community Development Corporation legitimate?
Belmont Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Belmont 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: $83,394
Professional Fundraising Fees: $0
Other Salaries and Wages: $35,100
For more financial information, click here
Official website here: www.belmontcdc.org
What is the mission statement of Belmont Community Development Corporation?
The Belmont Community Development Corporation's mission is centered around preserving the heritage of a particular community, located in North Carolina and its surrounding areas. They achieve this goal through community economic development, employing both traditional and innovative methods. The organization's primary objectives include providing affordable housing, educational opportunities, and living wage employment to the community's residents. Additionally, they focus on developing business and entrepreneurship, creating elderly housing, and offering services to residents with low to moderate incomes. The Belmont CDC strives to ensure equitable participation in the community's economic revitalization, thereby fostering a sense of unity and progress within the neighborhood.
Official website here: www.belmontcdc.org
Who is the CEO of Belmont Community Development Corporation?
Reginald Jones is the Executive Dir. of Belmont Community Development Corporation.
Official website here: www.belmontcdc.org
What is the revenue of Belmont Community Development Corporation?
Belmont Community Development Corporation's revenue in 2022 was $38,294.
Official website here: www.belmontcdc.org
Who are the executives of Belmont Community Development Corporation and what are their salaries?
The average compensation at Belmont Community Development Corporation during 2022 was $59,247. There are 2 employees and 5 volunteers at Belmont Community Development Corporation.
Here are 6 key members and their salaries:
- Compensation: $83,394
- 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.belmontcdc.org
Where can I find the form 990 for Belmont Community Development Corporation?
Belmont Community Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.belmontcdc.org
Learn more at the official website: www.belmontcdc.org
Mission Statement of Belmont Community Development Corporation
Belmont Community Development Corporation, a not-for-profit organization, is committed to preserving the historical character of the Belmont neighborhood in Charlotte, North Carolina, and adjacent areas. Their mission is to achieve this goal through innovative and conventional methods of community economic development. By focusing on several key areas, Belmont CDC aims to provide affordable housing, educational opportunities, and job prospects that offer a living wage. Additionally, they promote business and entrepreneurship development, elderly housing, and essential services for low-income residents. Their ultimate objective is to ensure that all residents have equal access to and active participation in the community's economic revitalization process.
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Impact
August, 2024
Belmont Community Development Corporation works to preserve the historic integrity of the Belmont neighborhood in Charlotte, NC, by utilizing traditional and non-traditional methods of community economic development. The organization aims to provide affordable housing, educational opportunities, living wage employment, business development, elderly housing, and services for low-to-moderate-income residents. Through these efforts, Belmont CDC positively impacts the quality of life for residents by improving housing options and providing avenues for educational and business growth.
This information is meant to be a general summary of Belmont 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: -$2,640
- Gross Receipts: $40,934
Assets and Liabilities:
- Total Assets: $151,522
- Total Liabilities: $69,176
- Net Assets: $82,346
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Organization Details
Founding Year
1990
Phone
(704) 335-0450Principal Officer
Reginald Jones
Main Address
PO Box 33051, Charlotte, NC, 28233
Website
www.belmontcdc.orgNTEE Category
Code: S32Z - Community improvement
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