Fayette County Local Development Corporation

Charity Navigator Rating: 56% (One-Star out of Four Star rating)

The Fayette County Local Development Corporation has received a low rating of 56%, indicative of significant concerns in its financial accountability and transparency. The organization demonstrates strengths with an entirely independent board and maintains important policies such as conflict of interest and material diversion of assets, receiving full points in these areas. However, its performance in financial statements and whistleblower policy is notably poor, leading to overall concerns about governance.

One area of commendation is the high program expense ratio, which stands at 94.48%. This suggests that a substantial portion of its expenses is directed towards its programs, reflecting a commitment to its mission. However, the organization’s liabilities to assets ratio of 83.57% raises red flags about its financial health and sustainability, as it indicates a heavy reliance on liabilities relative to its assets.

Despite some strengths in governance practices, the lack of adequate financial transparency and the absence of critical policies like whistleblower protections could hinder trust among stakeholders. These limitations may affect the Fayette County Local Development Corporation's ability to attract support and impact the community effectively.

This AI summary has been generated from information found on Charity Navigator.

Fayette County Local Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fayette County Local 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.

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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