Overview
What is Terrebonne Economic Development Foundation?
The Terrebonne Economic Development Foundation is a dedicated nonprofit organization situated in Terrebonne Parish. Their primary mission revolves around fostering industrial growth and improvement. By actively participating in industrial development and stimulating commerce, industry, and research, they aim to invigorate the local economy. Additionally, they leverage the area's natural, physical, and human resources to drive progress and development. The foundation's activities are geared towards promoting industrial improvement and utilization of resources within the parish.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 94% - Four-Star out of Four Star rating.
The Terrebonne Economic Development Foundation has achieved an impressive 94% rating, reflecting a strong commitment to accountability and finance. This score is derived solely from a robust accountability framework, indicating that the organization operates with transparency and integrity. The foundation’s fiscal health is underscored by a program expense ratio of 92.63%, demonstrating that a significant portion of its resources is devoted to its programs.
Strengths of the Terrebonne Economic Development Foundation include an entirely independent board, with 100% of its members being independent, which enhances its governance. Additionally, there are no reported material diversions of assets, and the organization has established comprehensive policies regarding conflict of interest, whistleblowing, and document retention. These factors contribute to the foundation's solid financial management and ethical standards.
While the rating highlights many strengths, ongoing evaluation of the foundation's programmatic effectiveness and community impact would be beneficial. Nevertheless, the current financial practices and governance structure position the Terrebonne Economic Development Foundation as a reputable entity in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Terrebonne Economic Development Foundation legitimate?
Terrebonne Economic Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Terrebonne Economic Development Foundation 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
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What is the mission statement of Terrebonne Economic Development Foundation?
The Terrebonne Economic Development Foundation's mission is centered around promoting industrial growth and development. They actively encourage industries to expand and participate in this process. Their objectives include stimulating the local economy through commerce, industry, and research. Furthermore, they utilize and enhance the area's natural, physical, and human resources to foster this industrial improvement. In essence, their goal is to contribute to the overall development of the industrial sector in a sustainable manner.
Who is the CEO of Terrebonne Economic Development Foundation?
Cohen Guidry is the President of Terrebonne Economic Development Foundation. The CEO's salary of Terrebonne Economic Development Foundation is $0 and their total compensation is $63,872.
What is the revenue of Terrebonne Economic Development Foundation?
Terrebonne Economic Development Foundation's revenue in 2022 was $66,465.
Who are the executives of Terrebonne Economic Development Foundation and what are their salaries?
There 3 volunteers at Terrebonne Economic Development Foundation.
Here are 10 key members and their salaries (Terrebonne Economic Development Foundation's CEO's salary is $0 and their total compensation is $63,872):
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- Other: $63,872
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Where can I find the form 990 for Terrebonne Economic Development Foundation?
Terrebonne Economic Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Terrebonne Economic Development Foundation
Terrebonne Economic Development Foundation, in its mission, focuses on promoting industrial improvement within its sphere. This nonprofit organization actively encourages and participates in industrial development, aiming to stimulate economic growth through commerce, industry, and research. Furthermore, Terrebonne Economic Development Foundation utilizes and develops the available natural, physical, and human resources within Terrebonne Parish to foster a thriving industrial sector. By doing so, the foundation contributes to the overall economic well-being of the community, leveraging its resources to drive progress and development.
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Impact
August, 2024
The Terrebonne Economic Development Foundation's impact is clearly evident in its dedicated efforts towards promoting industrial improvement, encouraging industrial development, stimulating the economy through commerce, industry, and research, and utilizing and developing the natural, physical, and human resources of Terrebonne Parish. Through these initiatives, the foundation plays a crucial role in boosting economic growth, fostering innovation, and enhancing the overall well-being of the community in Houma, Louisiana. Their unwavering commitment to community improvement is a driving force behind their positive impact on the region.
This information is meant to be a general summary of Terrebonne Economic Development Foundation. 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.
- Gross Receipts: $66,465
Assets and Liabilities:
- Total Assets: $616,111
- Total Liabilities: $0
- Net Assets: $616,111
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Organization Details
Founding Year
1989
Phone
(985) 873-6454Principal Officer
Cohen Guidry
Main Address
PO Box 3209, Houma, LA, 70361
NTEE Category
Code: S30 - Community improvement
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