Overview
What is Gretna Economic Development Assn Ltd?
Gretna Economic Development Association Limited, located at 327 Huey P Long Avenue, Gretna, Louisiana 70053, is a nonprofit organization dedicated to enhancing the business environment within the City of Gretna. Their primary mission is to foster business growth and facilitate the establishment of new enterprises within the city. As part of their activities, they organize the Gretna Heritage Festival in the city's historic downtown area, offering a variety of food from local non-profits and restaurants, as well as selling crafts created by local artisans. The festival features entertainment from both local and renowned bands and performers. With a team of 28 employees, Gretna Economic Development Association Limited plays a significant role in promoting and supporting the local business community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67% (Two-Star out of Four Stars)
The Gretna Economic Development Assn Ltd has received a Two-Star rating from Charity Navigator, indicating a moderate level of performance. The rating reflects a strong commitment to transparency and accountability, evidenced by a fully independent board and complete financial audits. The high program expense ratio of 93.64% suggests that the majority of their expenses are directed towards their mission-related activities.
However, the organization does face significant challenges, as indicated by a liabilities to assets ratio of 170.22%, which raises concerns about financial health and sustainability. While the nonprofit excels in governance and financial transparency, the high level of liabilities may impact its ability to effectively manage resources in the long term.
Overall, while the Gretna Economic Development Assn Ltd demonstrates strong governance practices and effective allocation of resources towards programs, potential donors and stakeholders should consider the organization's financial stability when evaluating its overall impact and future viability.
This AI summary has been generated from information found on Charity Navigator.
Is Gretna Economic Development Assn Ltd legitimate?
Gretna Economic Development Assn Ltd is a legitimate nonprofit organization registered as a 501(c)(3) entity. Gretna Economic Development Assn Ltd 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: $56,940
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Gretna Economic Development Assn Ltd?
The mission of Gretna Economic Development Assocation Ltd is to enhance the business environment within a city, serving as a catalyst for the establishment of new businesses. In essence, their purpose is to foster a conducive atmosphere for commercial growth and development. This organization acts as a tool, providing necessary assistance to facilitate the inception of new businesses. Their activities extend beyond the city limit, reaching out to various sectors and contributing to the overall prosperity of the business community.
What is the revenue of Gretna Economic Development Assn Ltd?
Gretna Economic Development Assn Ltd's revenue in 2023 was $5,086,166.
Who are the executives of Gretna Economic Development Assn Ltd and what are their salaries?
The average compensation at Gretna Economic Development Assn Ltd during 2023 was $2,190. There are 26 employees and 50 volunteers at Gretna Economic Development Assn Ltd.
Here are 5 key members and their salaries:
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Where can I find the form 990 for Gretna Economic Development Assn Ltd?
Gretna Economic Development Assn Ltd's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Gretna Economic Development Assn Ltd
Gretna Economic Development Association Ltd, as a nonprofit organization, is dedicated to enhancing the business climate within the City of Gretna. Its primary objective is to serve as a catalyst for the growth of new businesses within the city. By undertaking this mission, the association aims to contribute to the overall development and prosperity of the city's business sector.
To achieve its goals, Gretna Economic Development Association Ltd organizes events and initiatives that promote local businesses. One such event is the annual Gretna Heritage Festival, which takes place in the city's historic downtown area. During this festival, food is sold by various non-profit organizations and local restaurants in Gretna. Additionally, crafts made by local artisans are available for purchase, providing an opportunity for both visitors and residents to support local businesses. Entertainment at the festival is provided by both local and nationally recognized bands and performers, attracting a wide audience and boosting the city's business environment.
By organizing events like the Gretna Heritage Festival, Gretna Economic Development Association Ltd plays an essential role in promoting the city's business climate and assisting in the development of new businesses. Through its activities, the association helps to create a vibrant and thriving business environment, ultimately contributing to the overall growth and prosperity of the City of Gretna.
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Impact
July, 2024
Gretna Economic Development Assn Ltd's impact is significant in the City of Gretna, Louisiana. Through its efforts to improve the business climate and support the development of new businesses, the organization plays a vital role in fostering economic growth and prosperity within the community. One notable initiative is the Gretna Heritage Festival held in Historic Downtown Gretna, which not only showcases local and national talent but also provides a platform for other nonprofits and businesses to promote their offerings. By organizing events like these and supporting local businesses, the association contributes to the overall community improvement and vibrancy of Gretna.
This information is meant to be a general summary of Gretna Economic Development Assn Ltd. 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: $5,938
- Program Service Revenue: $2,291,772
- Gross Receipts: $6,307,990
Assets and Liabilities:
- Total Assets: $362,600
- Total Liabilities: $526,556
- Net Assets: -$163,956
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Special Events Income
Revenue
$25,795
Farmers Market Income
Revenue
$60,885
Italian Irish Parade Income
Revenue
$197,403
Gretna Fest Income
Revenue
$2,007,689
Organization Details
Founding Year
1992
Principal Officer
Kevin Avery
NTEE Category
Code: S30 - Community improvement
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