Overview
What is Head Corporation?
Head Corporation is a nonprofit organization situated in London, Kentucky, with a postal address at PO Box 995, KY 40743. Their primary mission is to support community and economic development initiatives in Central Appalachia. They achieve this by offering administrative services to the Appalachian Federal Credit Union and providing loans for economic development purposes. The organization's goal is to aid individuals and groups who wish to either establish or expand small businesses in the region. By doing so, Head Corporation contributes to the overall growth and prosperity of Central Appalachia.
Official website here: www.headcorp.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76%, Three-Star out of Four Star Rating
Head Corporation has received a 76% rating from Charity Navigator, which reflects a commendable level of accountability and finance. This rating is based solely on the accountability and finance beacon, indicating that the organization has made significant strides in maintaining transparency and responsible financial practices. The high score in key areas such as an independent board and a low liabilities-to-assets ratio suggests a solid governance structure.
The organization boasts perfect scores in several governance metrics, including having a fully independent board and no material diversion of assets. However, there are notable gaps in their policies, as both the conflict of interest policy and the whistleblower policy are missing, which could raise concerns regarding internal governance and ethical oversight. Additionally, a document retention and destruction policy is also absent, which may affect the organization's operational protocols.
Overall, while Head Corporation demonstrates strengths in financial management and governance, the lack of certain policy frameworks indicates areas for improvement. Addressing these gaps would not only enhance their accountability further but also build greater trust among stakeholders and the public.
This AI summary has been generated from information found on Charity Navigator.
Is Head Corporation legitimate?
Head Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Head 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:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.headcorp.org
What is the mission statement of Head Corporation?
The Head Corporation's mission is centered around supporting community and economic development efforts in Central Appalachia. They accomplish this by offering administrative services to the Appalachian Federal Credit Union and providing loans for economic development purposes. Furthermore, the organization provides loan capital and technical assistance to individuals and groups wishing to start up or expand small businesses in the region. In essence, the Head Corporation aims to foster growth and prosperity in Central Appalachia through its financial and administrative support.
Official website here: www.headcorp.org
Who is the CEO of Head Corporation?
Lon Oliver is the Vice Preside of Head Corporation.
Official website here: www.headcorp.org
What is the revenue of Head Corporation?
Head Corporation's revenue in 2022 was $91,906.
Official website here: www.headcorp.org
Who are the executives of Head Corporation and what are their salaries?
Here are 7 key members and their salaries:
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- Compensation: $68,004
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Official website here: www.headcorp.org
Where can I find the form 990 for Head Corporation?
Head Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.headcorp.org
Learn more at the official website: www.headcorp.org
Mission Statement of Head Corporation
Head Corporation, a nonprofit organization, is dedicated to supporting community and economic development efforts in Central Appalachia. The organization's mission is multifaceted, encompassing two main aspects. Firstly, Head Corporation provides administrative services to the Appalachian Federal Credit Union. Secondly, it offers loans for economic development purposes. By doing so, the organization aims to support individuals and groups who wish to establish or expand small businesses in the Central Appalachia region. Head Corporation's role extends beyond just providing financial assistance, as it also offers loan capital and technical assistance to facilitate the growth of local businesses, thereby contributing to the overall economic development of the region.
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Impact
October, 2024
Head Corporation plays a significant role in fostering community and economic development in Central Appalachia. By providing administrative support to the Appalachian Federal Credit Union, the organization facilitates financial accessibility for individuals and businesses in the region. Its commitment to offering loans for economic development purposes serves as a catalyst for entrepreneurship, empowering individuals and groups to start or expand small businesses.
This support is crucial in a region where economic opportunities may be limited. The provision of loan capital and technical assistance helps to stimulate local economies, creating jobs and encouraging sustainable development. Through these efforts, Head Corporation not only enhances individual livelihoods but also contributes to the overall improvement of the community, addressing challenges and building resilience in Central Appalachia.
This information is meant to be a general summary of Head 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: $1,178
- Program Service Revenue: $75,282
- Gross Receipts: $91,906
Assets and Liabilities:
- Total Assets: $2,115,164
- Total Liabilities: $780,764
- Net Assets: $1,334,400
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$74,707
MEMBER FEES
Revenue
$575
Organization Details
Founding Year
1974
Principal Officer
Lon Oliver
Main Address
PO BOX 995, LONDON, KY, 40743
Website
www.headcorp.orgNTEE Category
Code: S32Z - Community improvement
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