Overview
What is Martin Luther King Economic Dev?
Martin Luther King Economic Development (MLKED) is a nonprofit organization situated in Miami, Florida, specifically at 6116 NW 7th Avenue, 33127. The primary mission of MLKED is to advocate for the revitalization and preservation of commercial areas within their designated target area. This advocacy work extends to residential areas as well, aiming to improve the overall vitality of the community. In addition to advocacy, MLKED operates the MLKEDC Business Center. This center provides various services, including maintenance, repairs, and counseling, to further support the revitalization efforts within the target area. The organization is led by a team of two dedicated individuals.
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 67%, Two-Star out of Four Star rating.
The Martin Luther King Economic Development organization has received a Two-Star rating from Charity Navigator, reflecting a moderate level of accountability and finance practices. The nonprofit excels in several key areas, including an independent board comprised entirely of independent members and a strong program expense ratio. This indicates that a significant portion of their resources is directed towards their programs, highlighting their commitment to their mission.
However, the organization's financial transparency shows considerable weaknesses. Notably, it has not provided financial statements or tax forms on its website, which can hinder potential donors from assessing its financial health. Additionally, the lack of a conflict of interest policy, whistleblower policy, and proper document retention practices raises concerns about governance and compliance.
Overall, while the Martin Luther King Economic Development organization demonstrates strengths in board independence and program funding, its lack of basic financial documentation and policies may limit its appeal to potential supporters looking for transparency and accountability.
This AI summary has been generated from information found on Charity Navigator.
Is Martin Luther King Economic Dev legitimate?
Martin Luther King Economic Dev is a legitimate nonprofit organization registered as a 501(c)(3) entity. Martin Luther King Economic Dev 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: $82,000
For more financial information, click here
What is the mission statement of Martin Luther King Economic Dev?
The Martin Luther King Economic Development organization focuses on advocating for the revitalization of both commercial and residential areas within its specified community. This is achieved through various means, including operating the MLKEDC Business Center, which provides maintenance, repairs, and counseling services. The organization's mission is to contribute to the improvement and preservation of the commercial sector within the target area. By doing so, it aims to positively impact the community as a whole.
Who is the CEO of Martin Luther King Economic Dev?
Billy Hardeman is the President of Martin Luther King Economic Dev.
What is the revenue of Martin Luther King Economic Dev?
Martin Luther King Economic Dev's revenue in 2023 was $1,908,899.
Who are the executives of Martin Luther King Economic Dev and what are their salaries?
The average compensation at Martin Luther King Economic Dev during 2023 was $41,000. There are 2 employees and 10 volunteers at Martin Luther King Economic Dev.
Here are 6 key members and their salaries:
- Compensation: $86,955
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Martin Luther King Economic Dev?
Martin Luther King Economic Dev's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Martin Luther King Economic Dev
Martin Luther King Economic Development, as an advocacy organization, works tirelessly to revitalize both commercial and residential areas within its target region. Beyond this advocacy role, the organization operates the Martin Luther King Economic Development Business Center, which encompasses various services such as maintenance, repairs, and counseling. In essence, Martin Luther King Economic Development is committed to advocating for the revitalization and preservation of commercial areas within its specified area, while also providing essential support through its business center.
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Impact
July, 2024
Martin Luther King Economic Dev's impact can be seen in its advocacy for the revitalization of commercial and residential areas within its target area. By operating the MLKEDC Business Center, which offers maintenance, repairs, and counseling services, the organization actively works towards the preservation and enhancement of commercial spaces in Miami, FL. Through its efforts, Martin Luther King Economic Dev contributes to the improvement and development of the community and fosters economic growth within its target area.
This information is meant to be a general summary of Martin Luther King Economic Dev. 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.
- Program Service Revenue: $402,045
- Gross Receipts: $1,908,899
Assets and Liabilities:
- Total Assets: $1,811,267
- Total Liabilities: $156,257
- Net Assets: $1,655,010
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMERICAL BUILDING
Revenue
$402,045
Organization Details
Phone
(305) 757-7652Principal Officer
Billy Hardeman
Main Address
6116 NW 7TH AVENUE, MIAMI, FL, 33127
NTEE Category
Code: S30Z - Community improvement
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