Overview
What is New Charlotte Corporation?
New Charlotte Corporation is a nonprofit organization situated in Charlotte, North Carolina, with the address 600 East Fourth Street, 28202. Their mission is to contribute to the welfare of the city by acquiring, constructing, operating, or leasing real estate, facilities, and equipment for the public benefit. The organization's primary role is to help and support Charlotte by managing the procurement and maintenance of essential infrastructure.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 0 Stars
New Charlotte Corporation received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding accountability and financial health. The organization's score of 45% reflects a lack of independent governance, as it has no independent board members and fails to provide necessary financial statements. The absence of a posted tax form on their website further raises questions about transparency.
Despite a 100% program expense ratio, signifying that all expenses are directed towards their programs, the organization struggles with fundamental governance practices. They have a conflict of interest policy in place, but lack a whistleblower policy, which is critical for accountability. The liabilities to assets ratio is concerning at 100%, meaning their liabilities equal their total assets, suggesting potential financial instability.
Overall, while New Charlotte Corporation appears to allocate its resources effectively towards its programs, the lack of transparency, independent oversight, and financial documentation points to serious gaps in governance that potential donors should consider.
This AI summary has been generated from information found on Charity Navigator.
Is New Charlotte Corporation legitimate?
New Charlotte Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Charlotte 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: $0
For more financial information, click here
What is the mission statement of New Charlotte Corporation?
The New Charlotte Corporation is dedicated to enhancing the well-being of the community by acquiring, constructing, operating, or leasing real estate, facilities, and equipment for public use. Originating with the intention of supporting the city, the organization strives to contribute to the general welfare and betterment of the public. Through its efforts in procuring and managing essential infrastructure, it aims to bring about positive change and improvement within the community. The corporation's mission is focused on providing the necessary resources and assets to foster a thriving and vibrant community.
Who is the CEO of New Charlotte Corporation?
Teresa T Smith is the President of New Charlotte Corporation.
What is the revenue of New Charlotte Corporation?
New Charlotte Corporation's revenue in 2022 was $38,290,341.
Who are the executives of New Charlotte Corporation and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $186,268
- Other: $26,620
- Compensation: $0
- Related: $105,501
- Other: $15,065
Where can I find the form 990 for New Charlotte Corporation?
New Charlotte Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New Charlotte Corporation
New Charlotte Corporation, a dedicated organization, works toward enhancing the overall well-being of Charlotte City by acquiring, constructing, operating, or leasing real estate, facilities, and equipment for the benefit of the public. The company's primary objective is to support the city by providing essential resources and infrastructure, ultimately improving the quality of life for its residents.
By engaging in various real estate projects, New Charlotte Corporation contributes significantly to the city's development. Their efforts encompass the acquisition of new properties, the construction of new facilities, the operation of existing structures, and the leasing of equipment. Each project they undertake aims to serve the needs of the community and contribute to the city's growth.
Moreover, New Charlotte Corporation's commitment to Charlotte City extends beyond their business transactions. Their mission is deeply rooted in the belief that a thriving city requires a strong community. By investing in the city's infrastructure and resources, they create opportunities for residents to live, work, and play in a vibrant and supportive environment. The organization's work lays the foundation for a better future, positioning Charlotte City for continued success and prosperity.
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Impact
October, 2024
New Charlotte Corporation plays a vital role in enhancing the overall welfare of the city of Charlotte through strategic initiatives focused on real estate and community facilities. By acquiring, constructing, operating, and leasing various properties and equipment, the organization directly contributes to the development and improvement of public infrastructure, which benefits residents and visitors alike.
Through these efforts, New Charlotte Corporation not only bolsters the local economy but also ensures that spaces and facilities are available for community use, fostering engagement and accessibility. Their work supports essential services and amenities that are critical to maintaining the quality of life in Charlotte, ultimately helping to create a more vibrant and sustainable urban environment.
This information is meant to be a general summary of New Charlotte 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: $40,050
- Gross Receipts: $323,505,102
Assets and Liabilities:
- Total Assets: $852,065,000
- Total Liabilities: $852,065,000
- Net Assets: $0
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Organization Details
Founding Year
1990
Phone
(704) 336-4940Principal Officer
Teresa T Smith
Main Address
600 EAST FOURTH STREET, CHARLOTTE, NC, 282022848
NTEE Category
Code: W190 - Public benefit
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