Overview
What is Roanoke Economic Development Inc?
Roanoke Economic Development Inc is a nonprofit organization with a charitable, educational, and scientific mission, established under the Internal Revenue Code of 1986. It operates with the aim of making distributions to other organizations that fall under the 501(C)(3) and 170(C)(2) exemptions. The organization, located in Aulander, North Carolina (518 NC 561 WEST, AULANDER, NC 27805), is likely dedicated to supporting various causes within its community and beyond, contributing to the betterment of society through its charitable activities.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 79% (Three-Star out of Four Star Rating)
Roanoke Economic Development Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in its accountability and finance practices. The organization scored 79% overall, which is derived solely from its accountability and finance metrics. This score reflects the charity's strong governance practices, including a fully independent board and effective financial oversight.
The organization showcases several strengths, notably a well-structured board with 100% independent members and a commendable program expense ratio of 86.77%. This suggests that a significant portion of its expenses goes directly towards its programs, which is a positive indicator of financial health and mission focus. Additional strengths include the presence of essential policies such as conflict of interest, whistleblower, and document retention policies, all of which contribute to its accountability framework.
However, there is a significant concern regarding the organization’s liabilities to assets ratio, which stands at 191.82%. This high ratio indicates potential financial strain, as liabilities far exceed assets, which could impact future sustainability. Overall, while Roanoke Economic Development Inc demonstrates solid governance and financial practices, the high liabilities should be noted by potential donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Roanoke Economic Development Inc legitimate?
Roanoke Economic Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Roanoke Economic Development Inc 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: $225,466
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What is the mission statement of Roanoke Economic Development Inc?
Roanoke Economic Development Inc is established with charitable, educational, and scientific objectives. Its mission is to make distributions to organizations that fall under Section 501(C)(3) and 170(C)(2) of the Internal Revenue Code of 1986. In simpler terms, the corporation aims to support exempt organizations that contribute to charitable, educational, and scientific causes. It does this by providing financial assistance, promoting these sectors, and contributing to their growth and development.
Who is the CEO of Roanoke Economic Development Inc?
Marshall Cherry is the Chairman of Roanoke Economic Development Inc.
What is the revenue of Roanoke Economic Development Inc?
Roanoke Economic Development Inc's revenue in 2022 was $712,657.
Who are the executives of Roanoke Economic Development Inc and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Roanoke Economic Development Inc?
Roanoke Economic Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Roanoke Economic Development Inc
Roanoke Economic Development Inc, as per its organizational structure, is established with a multifaceted mission. Primarily, it is organized for charitable, educational, scientific, and indulging purposes. This mission encompasses making distributions to organizations that fall under sections 501(C)(3) and 170(C)(2) of the Internal Revenue Code of 1986. In simpler terms, Roanoke Economic Development Inc aims to support and contribute to entities that are recognized as exempt organizations under the mentioned sections of the Internal Revenue Code. The corporation's purpose is to engage in activities that promote these sectors, ultimately contributing to the betterment of society.
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Impact
July, 2024
Roanoke Economic Development Inc's impact is focused on community improvement in Aulander, NC. They work towards charitable, educational, and scientific goals, making distributions to organizations that qualify as exempt organizations. Their mission is centered around enhancing the overall well-being and development of the local community.
This information is meant to be a general summary of Roanoke Economic Development Inc. 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.
- Program Service Revenue: $48,603
- Gross Receipts: $712,657
Assets and Liabilities:
- Total Assets: $1,564,458
- Total Liabilities: $3,000,967
- Net Assets: -$1,436,509
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
THE ROANOKE CENTER
Revenue
$48,603
Organization Details
Founding Year
1999
Phone
(252) 209-2236Principal Officer
Marshall Cherry
Main Address
518 NC 561 WEST, AULANDER, NC, 27805
NTEE Category
Code: S20 - Community improvement
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