Overview
What is The Economic Development Partnership Of Alabama Foundation Inc?
The Economic Development Partnership of Alabama Foundation Inc, based in Birmingham, Alabama, is a 501(c)(3) organization with a mission to support its parent entity, the Economic Development Partnership of Alabama Inc. Through various initiatives, such as competitions, networking events, and data insights reports, Alabama Launchpad, a program under the Foundation, aims to help individuals in the state identify innovations, develop business ideas, and connect with a network of experts, investors, and service providers. These efforts increase the chances of business success and provide opportunities for start-up capital, expert guidance, and collaborative relationships within the business, academic, and investment capital communities. The Foundation also hosts networking venues throughout the state to showcase startup successes.
Official website here: www.edpa.com/edpa-foundation
What are the reviews and ratings of this charity?
**: Charity Navigator Rating 95% (Four-Star out of Four Stars )**ar rating)**
The Economic Development Partnership Of Alabama Foundation Inc has received an impressive Four-Star rating from Charity Navigator, signifying high marks in Accountability & Finance. The foundation showcases a robust commitment to transparency, with all board members being independent and having no material diversions of assets noted. The financial health is evidenced by a remarkable program expense ratio of 96.47%, ensuring that the vast majority of funds raised support its mission directly.
However, the organization's rating reflects a notable area for improvement: the absence of a whistleblower policy, which received a score of zero. This policy is crucial for maintaining accountability and fostering a safe environment for reporting unethical conduct. Despite this limitation, the overall strong financial practices highlighted contribute positively to the organization's reputation and operational effectiveness.
Unfortunately, user reviews from GreatNonprofits are not available, so further insights reflecting the experiences of beneficiaries or community feedback could not be included. Nonetheless, the financial stability and governance aspects suggest that the nonprofit is effectively managing its resources towards its economic development initiatives in Alabama.
This AI summary has been generated from information found on Charity Navigator.
Is The Economic Development Partnership Of Alabama Foundation Inc legitimate?
The Economic Development Partnership Of Alabama Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Economic Development Partnership Of Alabama Foundation Inc 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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Official website here: www.edpa.com/edpa-foundation
What is the mission statement of The Economic Development Partnership Of Alabama Foundation Inc?
The Economic Development Partnership of Alabama Foundation Inc serves as a supporting organization for its parent body, Economic Development Partnership of Alabama Inc. Their primary mission, as expressed through the Alabama Launchpad program, is to create a supportive framework for individuals in the state. This framework facilitates the discovery of innovations, development of business ideas, and connection to a network of experts, investors, and service providers. By participating in competitions, networking events, and utilizing data insights reports, individuals increase their chances of success. The foundation also offers opportunities for startup capital, expert guidance, and establishment of working relationships within the business, academic, and investment capital communities. Furthermore, Alabama Launchpad provides networking venues throughout the state to highlight startup successes.
Official website here: www.edpa.com/edpa-foundation
Who is the CEO of The Economic Development Partnership Of Alabama Foundation Inc?
Steve Sewell is the Chairman of The Economic Development Partnership Of Alabama Foundation Inc.
Official website here: www.edpa.com/edpa-foundation
What is the revenue of The Economic Development Partnership Of Alabama Foundation Inc?
The Economic Development Partnership Of Alabama Foundation Inc's revenue in 2022 was $7,073,213.
Official website here: www.edpa.com/edpa-foundation
Who are the executives of The Economic Development Partnership Of Alabama Foundation Inc and what are their salaries?
Here are 15 key members and their salaries:
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- Other: $17,282
Official website here: www.edpa.com/edpa-foundation
Where can I find the form 990 for The Economic Development Partnership Of Alabama Foundation Inc?
The Economic Development Partnership Of Alabama Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.edpa.com/edpa-foundation
Learn more at the official website: www.edpa.com/edpa-foundation
Mission Statement of The Economic Development Partnership Of Alabama Foundation Inc
The Economic Development Partnership of Alabama Foundation Inc serves as a supporting organization for its parent entity, the Economic Development Partnership of Alabama, Inc. Its mission, in essence, is to facilitate economic development within the state of Alabama. This is accomplished through the Alabama LaunchPad program, a 501(c)(3) initiative. The Alabama LaunchPad provides a framework for individuals in Alabama to identify and develop innovative business ideas. It offers various competitions, including a proof of concept competition, a seed stage competition, and regional competitions. These events are designed to connect entrepreneurs with a network of experts, investors, and service providers, thereby increasing their chances of success.
Furthermore, Alabama LaunchPad offers unique opportunities to secure start-up capital, receive expert guidance, and establish working relationships within the business, academic, and investment capital communities. The program also provides networking venues throughout the state to showcase startup successes. By participating in these events and initiatives, individuals can tap into a vast network of resources to help bring their business ideas to life. Overall, the Economic Development Partnership of Alabama Foundation Inc, through its Alabama LaunchPad program, seeks to foster economic growth and innovation within the state of Alabama.
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Impact
July, 2024
The Economic Development Partnership Of Alabama Foundation Inc's impact can be seen through its Alabama Launchpad program, which provides a framework for individuals in the state to locate innovations, develop their business ideas, and connect to a network of experts, investors, and service providers. By offering proof of concept competitions, seed stage competitions, regional competitions, iMerge networking events, and data insights reports, Alabama Launchpad facilitates opportunities for individuals to obtain startup capital, receive expert guidance, and establish working relationships within the business, academic, and investment capital communities. Additionally, the program organizes networking venues throughout the state to showcase startup successes. Through these initiatives, The Economic Development Partnership Of Alabama Foundation Inc contributes to fostering entrepreneurship, innovation, and economic development in Alabama.
This information is meant to be a general summary of The Economic Development Partnership Of Alabama Foundation Inc. 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: $81,389
- Program Service Revenue: $31,862
- Gross Receipts: $7,727,938
Assets and Liabilities:
- Total Assets: $7,740,851
- Total Liabilities: $129,193
- Net Assets: $7,611,658
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REGISTRATION/WORKSHOP
Revenue
$31,862
Organization Details
Founding Year
1994
Phone
(205) 943-4706Principal Officer
Steve Sewell
Main Address
1320 1ST AVENUE SOUTH, BIRMINGHAM, AL, 35233
Website
www.edpa.com/edpa-foundationNTEE Category
Code: B82 - Education
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