Overview
What is Chatham County Economic Development Corporation?
Chatham County Economic Development Corporation (EDC) is a nonprofit organization situated in Pittsboro, North Carolina. Its primary mission is to foster a policy-driven approach aimed at creating job opportunities, boosting the commercial tax base, and enhancing the standard of living for county residents. The EDC achieves this by coordinating and promoting economic development activities, with a focus on attracting, retaining, and nurturing entrepreneurship. By leveraging Chatham County's strategic location between the Triad and Triangle regions, the EDC positions the county as an attractive location for emerging growth companies. The organization supports infrastructure improvements and preserves the county's strong quality of life, thereby contributing to its overall prosperity. With a team of four dedicated individuals, the EDC plays a significant role in shaping the economic landscape of Chatham County.
Official website here: www.chathamedc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Chatham County Economic Development Corporation has received a Two-Star out of Four Star rating from Charity Navigator, with an overall score of 62%. While the organization excels in accountability and finance, achieving a perfect score in that category, it struggles with transparency, as evidenced by missing financial statements and policies related to whistleblowing and document retention.
Strengths include a strong independent board composition, with 90% of board members being independent, and a low liabilities-to-assets ratio, indicating a stable financial footing. Additionally, the organization maintains a program expense ratio of 61.50%, suggesting a commitment to its mission-related activities.
However, the absence of key financial documentation and policies raises concerns about operational transparency and governance practices. Addressing these shortcomings could enhance the organization’s accountability and overall performance in the eyes of donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Chatham County Economic Development Corporation legitimate?
Chatham County Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chatham County Economic 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: $147,106
Professional Fundraising Fees: $83,025
Other Salaries and Wages: $155,588
For more financial information, click here
Official website here: www.chathamedc.org
What is the mission statement of Chatham County Economic Development Corporation?
The Chatham County Economic Development Corporation's mission is centered around fostering economic growth and development. They aim to create high-paying jobs, expand the commercial tax base, and enhance the standard of living for the county's residents. Leveraging its strategic location between the Triad and Triangle regions, the corporation is positioning Chatham as an attractive location for emerging growth companies. Their policy-driven approach focuses on targeted attraction, retention, and entrepreneurship to improve the lives of county residents. Furthermore, the corporation supports infrastructure improvements and preserves the county's strong quality of place.
Official website here: www.chathamedc.org
Who is the CEO of Chatham County Economic Development Corporation?
Greg Lewis is the Director of Chatham County Economic Development Corporation.
Official website here: www.chathamedc.org
What is the revenue of Chatham County Economic Development Corporation?
Chatham County Economic Development Corporation's revenue in 2022 was $1,328,079.
Official website here: www.chathamedc.org
Who are the executives of Chatham County Economic Development Corporation and what are their salaries?
The average compensation at Chatham County Economic Development Corporation during 2022 was $75,674. There are 4 employees and 25 volunteers at Chatham County Economic Development Corporation.
Here are 10 key members and their salaries:
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- Compensation: $121,212
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- Other: $20,157
Official website here: www.chathamedc.org
Where can I find the form 990 for Chatham County Economic Development Corporation?
Chatham County Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chathamedc.org
Learn more at the official website: www.chathamedc.org
Mission Statement of Chatham County Economic Development Corporation
Chatham County Economic Development Corporation, often abbreviated as EDC, is dedicated to fostering economic growth in the county. Their mission is multifaceted, aiming to create high-paying job opportunities, increase the commercial tax base, and ultimately enhance the standard of living for the county's residents. EDC achieves this by leveraging its strategic location between the Triad and Triangle regions. They position Chatham as an attractive location for emerging growth companies, implementing a policy-driven approach that focuses on targeted attraction, retention, and entrepreneurship. This strategy is designed to improve the lives of the county's residents. EDC also supports infrastructure improvements and works towards preserving the county's strong quality of place, ensuring that Chatham remains an appealing and prosperous location for businesses and residents alike.
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Impact
July, 2024
Chatham County Economic Development Corporation plays a significant role in spearheading economic development initiatives in the region. By coordinating and promoting economic development, the organization focuses on creating good-paying jobs, expanding the commercial tax base, and enhancing the standard of living for Chatham County residents. Through a policy-driven approach that collaborates with local governments, the corporation aims to attract, retain, and foster entrepreneurship to build prosperity within the community. Positioned strategically between the Triad and Triangle regions, Chatham County is being promoted as the preferred location for emerging growth companies, with a strong emphasis on infrastructure enhancements and preservation of the area's quality of place. This targeted strategy is aimed at improving the lives of county residents and contributing to overall community improvement.
This information is meant to be a general summary of Chatham County Economic 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: $7,781
- Gross Receipts: $1,338,429
Assets and Liabilities:
- Total Assets: $1,387,229
- Total Liabilities: $24,194
- Net Assets: $1,363,035
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Organization Details
Founding Year
1997
Phone
(919) 542-8274Principal Officer
Greg Lewis
Main Address
P O BOX 1627, PITTSBORO, NC, 27312
Website
www.chathamedc.orgNTEE Category
Code: S30 - Community improvement
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