Overview
What is Crossett Economic Dev Foundation?
The Crossett Economic Dev Foundation is a nonprofit organization situated in Crossett, Arkansas, at 125 Main Street. With a team of just two dedicated individuals, their primary mission is to foster economic growth for the city of Crossett and its surrounding area. They accomplish this by providing essential development services, aiming to enhance the local economy and create opportunities for the community.
Official website here: www.cityofcrossett.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 69%)
The Crossett Economic Development Foundation has received a "Needs Improvement" rating from Charity Navigator, indicating that while the organization demonstrates some strengths, there are significant areas that require attention. With an overall score of 69%, the foundation shows a commitment to transparency with 100% independent board members and a robust audit and oversight committee. However, the lack of a conflict of interest policy, a whistleblower policy, and document retention protocols are notable deficiencies.
The foundation's financial performance shows a liabilities to assets ratio of 19.35%, which is favorable, and a program expense ratio of 58.39%, suggesting a moderate level of resources directed towards its mission. Despite this, the low score in financial accountability reflects the absence of essential policies that could improve governance and trust among stakeholders. Notably, the organization's financial statements are not readily available on its website, which may hinder transparency efforts.
Overall, while the Crossett Economic Development Foundation has a solid board structure and some effective financial management practices, addressing the gaps in policy and transparency is crucial for enhancing its credibility and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Crossett Economic Dev Foundation legitimate?
Crossett Economic Dev Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Crossett Economic Dev Foundation 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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Other Salaries and Wages: $137,456
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Official website here: www.cityofcrossett.net
What is the mission statement of Crossett Economic Dev Foundation?
The Crossett Economic Development Foundation's mission is to offer economic development services and contribute to the promotion of economic growth within the city of Crossett, Arkansas, and its surrounding area. Their primary goal is to enhance the city's economic development, providing essential services to foster economic growth and prosperity. The foundation's activities aim to stimulate business growth, attract new investments, and create job opportunities, contributing to the overall improvement of the local economy.
Official website here: www.cityofcrossett.net
Who is the CEO of Crossett Economic Dev Foundation?
James Michael Smith is the President of Crossett Economic Dev Foundation.
Official website here: www.cityofcrossett.net
What is the revenue of Crossett Economic Dev Foundation?
Crossett Economic Dev Foundation's revenue in 2022 was $605,801.
Official website here: www.cityofcrossett.net
Who are the executives of Crossett Economic Dev Foundation and what are their salaries?
The average compensation at Crossett Economic Dev Foundation during 2022 was $68,728. There are 2 employees at Crossett Economic Dev Foundation.
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Official website here: www.cityofcrossett.net
Where can I find the form 990 for Crossett Economic Dev Foundation?
Crossett Economic Dev Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cityofcrossett.net
Learn more at the official website: www.cityofcrossett.net
Mission Statement of Crossett Economic Dev Foundation
The Crossett Economic Development Foundation, as its name suggests, is dedicated to providing economic development services. Its primary mission is to support and promote the economic growth of the city of Crossett, Arkansas, and the surrounding area. This nonprofit organization aims to contribute to the city's economic development in various ways, working tirelessly to enhance its economic landscape.
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Impact
July, 2024
Crossett Economic Dev Foundation's impact is evident in its efforts to provide economic development services to the city of Crossett, Arkansas, and promote the overall economic growth of the city and the surrounding area. Through its dedicated work, the foundation plays a vital role in enhancing the community's economic well-being, fostering local businesses, and creating opportunities for sustainable growth. Its commitment to promoting economic development contributes to the overall improvement of the community and helps to build a stronger and more prosperous future for Crossett and its residents.
This information is meant to be a general summary of Crossett Economic Dev Foundation. 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: -$4,151
- Program Service Revenue: $428,914
- Gross Receipts: $636,150
Assets and Liabilities:
- Total Assets: $2,370,204
- Total Liabilities: $458,704
- Net Assets: $1,911,500
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SALES TAX REVENUES
Revenue
$428,914
Organization Details
Founding Year
2000
Phone
(870) 364-8745Principal Officer
James Michael Smith
Main Address
125 MAIN STREET, CROSSETT, AR, 71635
Website
www.cityofcrossett.netNTEE Category
Code: S30 - Community improvement
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