Overview
What is Madisonville-Hopkins County Economic Development Corporation?
Madisonville-Hopkins County Economic Development Corporation is a local nonprofit organization situated in Madisonville, Kentucky. With a small team of four dedicated individuals, their primary mission is to foster growth and development within the employment sector of Madisonville and Hopkins County. They aim to preserve, strengthen, and expand the region's job market by undertaking various initiatives. While specific details about their activities are not provided, it can be inferred that their work likely encompasses attracting new businesses, supporting existing industries, and encouraging entrepreneurship, ultimately contributing to the overall economic prosperity of the area.
Official website here: www.westcentralky.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
The Madisonville-Hopkins County Economic Development Corporation has received a 77% rating from Charity Navigator, indicating a solid performance in accountability and finance. This rating is derived from a single beacon score, emphasizing the organization’s financial practices and governance, which appear to be well-managed. The organization’s fiscal year 2023 data reflects a high commitment to transparency and responsible financial stewardship.
Strengths noted include a perfect score in audit and oversight, as well as adherence to policies on conflict of interest and whistleblower protections. The organization's low liabilities to assets ratio of 0.06% and a strong program expense ratio of 81.09% suggest that a significant portion of its resources is allocated directly to its programs rather than administrative costs.
While the overall rating is commendable, it is solely based on financial accountability, which may limit insights into the organization’s programmatic impact or effectiveness. Stakeholders should consider this aspect along with the financial metrics when evaluating the organization's overall mission and accomplishments.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Madisonville-Hopkins County Economic Development Corporation?
86% of reviewers on Facebook recommend the Madisonville-Hopkins County Economic Development Corporation. Here is a summary of their reviews:
Many individuals express appreciation for the organization’s proactive approach towards supporting both small and large businesses in the region. Reviewers commend the team's innovative strategies and acknowledge the valuable resources they provide, indicating that efforts to foster entrepreneurship and economic growth are being well-received.
Overall, the sentiment is positive, highlighting the effectiveness of the Economic Development Corporation in driving local economic initiatives and supporting business development in the community. Users feel encouraged by the team's dedication and creativity in addressing the needs of the region's economy.
This AI summary has been generated from reviews found on Facebook.
Is Madisonville-Hopkins County Economic Development Corporation legitimate?
Madisonville-Hopkins County Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Madisonville-Hopkins County 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $168,415
For more financial information, click here
Official website here: www.westcentralky.com
What is the mission statement of Madisonville-Hopkins County Economic Development Corporation?
The Madisonville-Hopkins County Economic Development Corporation's mission is focused on enhancing the employment opportunities in the region. Specifically, their goal is to preserve, upgrade, and expand the local job market. This is done with the aim of benefiting the residents of Madisonville and Hopkins County, Kentucky. Their activities are geared towards fostering a thriving economic environment that provides ample employment opportunities for the local population.
Official website here: www.westcentralky.com
Who is the CEO of Madisonville-Hopkins County Economic Development Corporation?
Bill Rudd is the Director of Madisonville-Hopkins County Economic Development Corporation.
Official website here: www.westcentralky.com
What is the revenue of Madisonville-Hopkins County Economic Development Corporation?
Madisonville-Hopkins County Economic Development Corporation's revenue in 2023 was $566,749.
Official website here: www.westcentralky.com
Who are the executives of Madisonville-Hopkins County Economic Development Corporation and what are their salaries?
The average compensation at Madisonville-Hopkins County Economic Development Corporation during 2023 was $42,104. There are 4 employees at Madisonville-Hopkins County Economic Development Corporation.
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Official website here: www.westcentralky.com
Where can I find the form 990 for Madisonville-Hopkins County Economic Development Corporation?
Madisonville-Hopkins County Economic Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.westcentralky.com
Learn more at the official website: www.westcentralky.com
Mission Statement of Madisonville-Hopkins County Economic Development Corporation
The Madisonville-Hopkins County Economic Development Corporation is dedicated to upholding, enhancing, and expanding the employment opportunities within Madisonville and Hopkins County, Kentucky. This nonprofit organization aims to contribute positively to the livelihoods of the local citizens and residents by increasing the employment base in the region. By maintaining, improving, and enlarging this employment base, the corporation seeks to foster a prosperous and thriving community.
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Impact
July, 2024
The Madisonville-Hopkins County Economic Development Corporation plays a crucial role in maintaining, enhancing, improving, and enlarging the employment base of Madisonville and Hopkins County, Kentucky. Through its efforts, the organization significantly impacts the economic growth and prosperity of the community by attracting new businesses, facilitating job creation, and fostering a favorable business environment. As a result, the corporation contributes to the overall well-being and quality of life for the citizens and residents of Madisonville and Hopkins County, making it an integral driver of economic development in the region.
This information is meant to be a general summary of Madisonville-Hopkins County 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: $31,525
- Program Service Revenue: $61,356
- Gross Receipts: $569,153
Assets and Liabilities:
- Total Assets: $3,489,675
- Total Liabilities: $2,206
- Net Assets: $3,487,469
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENT INCOME
Revenue
$27,166
MAKER SPACE
Revenue
$26,133
INNOVATION STATION
Revenue
$8,057
Organization Details
Founding Year
1994
Phone
(270) 821-1939Principal Officer
Bill Rudd
Main Address
PO BOX 745, MADISONVILLE, KY, 42431
Website
www.westcentralky.comNTEE Category
Code: S30 - Community improvement
If you are a representative of Madisonville-Hopkins County Economic Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.