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Carter Street Corporation

Learn about this cause: What are the reviews? Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 621125122 ✦ Chattanooga, TN ✦ Designated as a 501(c)(3)

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Overview

What is Carter Street Corporation?

Carter Street Corporation is a nonprofit organization that focuses on promoting economic development. While the provided information is limited, it implies that they strive to contribute positively to the economic growth of their community. However, specific details about their initiatives, programs, or impact are not available. To gain a comprehensive understanding of their activities and mission, it would be beneficial to explore their official website or other reliable sources.


Official website here: www.chattconvention.org

What are the reviews and ratings of this charity?

**Rating: 88% (Three-Star out of Four Star Rating on Charity Navigator)**

Carter Street Corporation has achieved a commendable score of 88%, reflecting a strong performance in accountability and finance. With a perfect score for its independent board members and sound financial oversight measures, the organization showcases a high level of governance. However, the absence of certain policies, including a whistleblower and document retention policy, indicates areas for improvement in organizational transparency.

The nonprofit demonstrates a healthy program expense ratio of 79.28%, signifying a commitment to directing funds towards its programs rather than administrative costs. Additionally, the liabilities to assets ratio of 42.86% suggests a manageable level of debt relative to its assets. While the compensation of the executive director appears substantial, other key positions are unpaid, pointing towards an effort to maximize resources for programmatic impact.

Unfortunately, there are no user reviews available from GreatNonprofits, limiting insights into the community's perception of Carter Street Corporation's impact and effectiveness. Overall, the organization holds promise due to its strong financial practices but may enhance its reputation by addressing noted policy deficiencies.


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

Is Carter Street Corporation legitimate?

Carter Street Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Carter Street 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: $162,993
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,626,018

For more financial information, click here


Official website here: www.chattconvention.org

What is the mission statement of Carter Street Corporation?

Carter Street Corporation's mission is centered around promoting economic development. In pursuit of this goal, they work tirelessly to encourage growth and prosperity in various sectors. Their activities are geared towards fostering a conducive environment for businesses and individuals, thereby contributing to the overall economic well-being of the community. The organization does not disclose further details about its approach or strategies, as provided in the information given.


Official website here: www.chattconvention.org

Who is the CEO of Carter Street Corporation?

Mike Shuford is the Asst Secretary/Director of Carter Street Corporation.


Official website here: www.chattconvention.org

What is the revenue of Carter Street Corporation?

Carter Street Corporation's revenue in 2023 was $10,617,267.


Official website here: www.chattconvention.org

Who are the executives of Carter Street Corporation and what are their salaries?

The average compensation at Carter Street Corporation during 2023 was $25,928. There are 69 employees and 7 volunteers at Carter Street Corporation.


Here are 8 key members and their salaries:


Evann Freeman (Asst Secretary/Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Malcolm Harris (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Hicks Armor (Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
William B Raines Jr (Vice Chairman)
  • Compensation: $0
  • Related: $0
  • Other: $0
Anne Wilkins (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Chris Crimmins (Secretary)
  • Compensation: $0
  • Related: $0
  • Other: $0
Craig Fuller (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Mike Shuford (Executive Director)
  • Compensation: $141,122
  • Related: $0
  • Other: $16,865


Official website here: www.chattconvention.org

Where can I find the form 990 for Carter Street Corporation?

Carter Street Corporation's most recent form 990 was submitted in 2023 and can be accessed here.


Official website here: www.chattconvention.org

Learn more at the official website: www.chattconvention.org

Mission Statement of Carter Street Corporation

Carter Street Corporation, as a nonprofit entity, is committed to fostering economic development. Their primary mission is to encourage and stimulate economic growth within various communities, without providing specific details about their location. By encouraging economic development, Carter Street Corporation aims to improve the overall well-being and prosperity of the populations they serve, ultimately contributing to a stronger and more sustainable society.

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Impact




July, 2024

Carter Street Corporation has a significant impact on encouraging economic development in the city of Chattanooga, Tennessee. Through its activities, this organization plays a crucial role in driving economic growth, fostering innovation, and creating opportunities for businesses and individuals in the community. By focusing on community improvement and economic development, Carter Street Corporation contributes to building a more vibrant and prosperous local economy, ultimately enhancing the quality of life for residents in Chattanooga.




This information is meant to be a general summary of Carter Street 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.

Revenue
$10,617,267 (2023)
Expenses
$9,522,257 (2023)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Investment Income: $153,987
  • Program Service Revenue: $9,623,872
  • Gross Receipts: $10,716,481

Assets and Liabilities:

  • Total Assets: $17,657,479
  • Total Liabilities: $7,568,306
  • Net Assets: $10,089,173

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

EVENTS & HOTEL

Revenue

$8,879,307

PARKING GARAGE

Revenue

$744,565

Organization Details

Founding Year

1981

Principal Officer

Mike Shuford

Main Address

ONE CARTER PLAZA, CHATTANOOGA, TN, 37402

NTEE Category

Code: S31Z - Community improvement

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