Overview
What is City Of Sumter Housing And Economic Development Corporation?
The City of Sumter Housing and Economic Development Corporation is a nonprofit organization located in Sumter, South Carolina. Their primary mission is to combat community deterioration by engaging in residential and commercial development, revitalization, economic development, and historic preservation efforts. They support and conduct activities aimed at providing housing, fostering economic growth, revitalizing downtown areas, preserving historical sites, and promoting overall community development. The corporation serves as a catalyst for improving the quality of life in Sumter by addressing various aspects of community development.
What are the reviews and ratings of this charity?
Charity Navigator rating: 75% (Three-Star out of Four Stars)
The City of Sumter Housing and Economic Development Corporation received a Three-Star rating from Charity Navigator, reflecting a solid level of accountability and finance management. The overall score is driven by a high accountability and finance score of 75%, indicating a responsible approach to financial stewardship and organizational governance.
Strengths of the organization include a fully independent board, with all 10 members meeting the criteria for independence, and no material diversion of assets reported. Additionally, there are no loans to or from officers, showcasing transparency in financial dealings. The organization also boasts a very high program expense ratio, indicating that the vast majority of its funds are directed towards its mission-related activities.
However, the organization does face challenges in fundraising efficiency, with a notably low ratio of $0.002 spent on fundraising for every dollar raised. This suggests that while the organization is effective in managing its resources, there may be opportunities to improve its fundraising strategies in order to enhance overall financial viability.
This AI summary has been generated from information found on Charity Navigator.
Is City Of Sumter Housing And Economic Development Corporation legitimate?
City Of Sumter Housing And Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. City Of Sumter Housing And 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.
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What is the mission statement of City Of Sumter Housing And Economic Development Corporation?
The City of Sumter Housing and Economic Development Corporation's mission is to facilitate activities that can potentially improve housing, stimulate economic growth, revitalize downtown areas, preserve history, and foster community development. In an effort to combat community deterioration, they focus on residential and commercial development and revitalization, as well as economic development and historic preservation.
Who is the CEO of City Of Sumter Housing And Economic Development Corporation?
Deron Mccormick is the Board Member of City Of Sumter Housing And Economic Development Corporation.
What is the revenue of City Of Sumter Housing And Economic Development Corporation?
City Of Sumter Housing And Economic Development Corporation's revenue in 2023 was $2,391,474.
Who are the executives of City Of Sumter Housing And Economic Development Corporation and what are their salaries?
Here are 9 key members and their salaries:
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Where can I find the form 990 for City Of Sumter Housing And Economic Development Corporation?
City Of Sumter Housing And Economic Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of City Of Sumter Housing And Economic Development Corporation
The City of Sumter Housing and Economic Development Corporation is dedicated to supporting activities that aim to improve housing conditions, stimulate economic growth, revitalize downtown areas, preserve historical sites, and foster community development. This nonprofit organization's mission is multifaceted, focusing on combating community deterioration through residential and commercial development and revitalization, as well as promoting economic development. Furthermore, the Corporation is committed to preserving the city's historical heritage, contributing to the overall well-being and advancement of the community.
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Impact
July, 2024
The impact of the City Of Sumter Housing And Economic Development Corporation is significant in combatting community deterioration through residential and commercial development and revitalization, economic development, historic preservation, and downtown revitalization in Sumter, SC. Through their activities, they contribute to the improvement and sustainability of the local community by providing housing opportunities, supporting economic growth, preserving historical landmarks, and enhancing overall community development. Their efforts play a crucial role in enhancing the quality of life for residents and fostering a thriving and vibrant environment in Sumter.
This information is meant to be a general summary of City Of Sumter Housing And 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 2023.
- Investment Income: $160,474
- Gross Receipts: $2,391,474
Assets and Liabilities:
- Total Assets: $5,656,069
- Total Liabilities: $123,833
- Net Assets: $5,532,236
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Organization Details
Founding Year
1997
Phone
(803) 436-2685Principal Officer
Deron Mccormick
Main Address
POST OFFICE BOX 1449, SUMTER, SC, 29151
NTEE Category
Code: L80 - Housing
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