Overview
What is Community Reuse Organization Of East Tennessee?
The Community Reuse Organization of East Tennessee is an economic development organization based in Oak Ridge, Tennessee. Their primary mission is to stimulate job creation in the region by leveraging underutilized resources from the Department of Energy's Oak Ridge Complex. They have achieved this by entering into subleases with private industries, facilitating improvements in local infrastructure, and supporting job opportunities for workers impacted by government cutbacks in the area. The organization's activities focus on reindustrializing a former government facility, aiming to contribute positively to the regional economy with a workforce of just two individuals.
Official website here: www.croet.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 48% (Zero-Star out of Four Star rating)
The Community Reuse Organization of East Tennessee has received a low rating of 48%, indicating significant concerns regarding its accountability and financial practices. While the organization boasts a fully independent board and has received full scores for its financial statements and absence of material asset diversion, it has notable weaknesses in several critical areas.
Despite achieving a perfect score for board independence and audit practices, the organization lacks essential policies such as a whistleblower policy and a document retention and destruction policy, which negatively impact its accountability. Additionally, the organization's program expense ratio stands at a low 43.14%, reflecting that less than half of its spending is directed towards its intended programs. This raises concerns about the effectiveness of its resource allocation.
The liabilities to assets ratio is reported at a concerning 1.36%, which signals potential financial instability. Overall, while there are strengths in governance, the lack of critical policies and low program expenditure suggest that potential donors and supporters should approach this organization with caution.
This AI summary has been generated from information found on Charity Navigator.
Is Community Reuse Organization Of East Tennessee legitimate?
Community Reuse Organization Of East Tennessee is a legitimate nonprofit organization registered as a 501(c)(3) entity. Community Reuse Organization Of East Tennessee 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: $136,009
Professional Fundraising Fees: $0
Other Salaries and Wages: $41,400
For more financial information, click here
Official website here: www.croet.com
What is the mission statement of Community Reuse Organization Of East Tennessee?
The Community Reuse Organization of East Tennessee serves as an economic development entity, aiming to support the private sector in creating job opportunities. Their purpose is to utilize underutilized resources, such as land, facilities, equipment, personnel, and technology, available at the Department of Energy's Oak Ridge Complex. This organization has entered into subleases with private industries, specifically the Department of Energy's K-25 plant in Oak Ridge, Tennessee. They have collaborated with local agencies to improve infrastructure and facilitate job development for workers impacted by government cutbacks in the region. The organization incurs direct expenses primarily in the form of rental expenses.
Official website here: www.croet.com
Who is the CEO of Community Reuse Organization Of East Tennessee?
Teresa Frady is the President/Ce of Community Reuse Organization Of East Tennessee.
Official website here: www.croet.com
What is the revenue of Community Reuse Organization Of East Tennessee?
Community Reuse Organization Of East Tennessee's revenue in 2022 was $33,876.
Official website here: www.croet.com
Who are the executives of Community Reuse Organization Of East Tennessee and what are their salaries?
The average compensation at Community Reuse Organization Of East Tennessee during 2022 was $88,704. There are 2 employees and 10 volunteers at Community Reuse Organization Of East Tennessee.
Here are 13 key members and their salaries:
- Compensation: $125,000
- Related: $0
- Other: $11,009
- Compensation: $63,750
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- Other: $4,715
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Official website here: www.croet.com
Where can I find the form 990 for Community Reuse Organization Of East Tennessee?
Community Reuse Organization Of East Tennessee's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.croet.com
Learn more at the official website: www.croet.com
Mission Statement of Community Reuse Organization Of East Tennessee
The Community Reuse Organization of East Tennessee is an economic development organization with a mission to aid the private sector in creating quality jobs in the region. They achieve this by utilizing underutilized resources, such as land, facilities, equipment, personnel, and technology, available at the Department of Energy's Oak Ridge Complex. The organization has entered into subleases with private industries to reuse the Department of Energy's K-25 plant in Oak Ridge, Tennessee. Furthermore, the Community Reuse Organization of East Tennessee collaborates with local agencies to enhance infrastructure and support job development for workers who have been displaced due to government cutbacks in the Oak Ridge, Tennessee area. Their primary objective is to leverage these resources to foster economic growth and create job opportunities in the region.
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Impact
August, 2024
The Community Reuse Organization of East Tennessee has made a significant impact on the Oak Ridge region by reindustrializing the government facility previously known as the Department of Energy's K-25 plant. Through subleasing arrangements with private industry, the organization has repurposed underutilized land, facilities, and equipment to create quality jobs in the area. Additionally, they have collaborated with local agencies to improve infrastructure and provide job development opportunities for workers affected by government cutbacks in Oak Ridge. This initiative has not only revitalized the local economy but has also contributed to community improvement by facilitating job creation and economic growth in the region.
This information is meant to be a general summary of Community Reuse Organization Of East Tennessee. 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: $864
- Gross Receipts: $217,164
Assets and Liabilities:
- Total Assets: $8,036,799
- Total Liabilities: $137,199
- Net Assets: $7,899,600
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Organization Details
Founding Year
1995
Phone
(865) 482-9890Principal Officer
Teresa Frady
Main Address
110 NOVITAS PLACE, OAK RIDGE, TN, 37830
Website
www.croet.comNTEE Category
Code: S30 - Community improvement
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