Overview
What is New Market Foundation?
The New Market Foundation is a nonprofit organization dedicated to revitalizing its community by acquiring and refurbishing neglected properties. Upon completion, these properties are either sold or leased to businesses and homeowners, contributing to the overall enhancement of the community. Their mission aims to improve the local environment and provide viable real estate solutions for employers and homeowners.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning a Two-Star out of Four Star rating. The New Market Foundation has demonstrated a solid performance in several areas of governance and financial management, with a perfect score in program expense ratio and an excellent rating for its board's independence and composition. This indicates that the foundation is prioritizing its charitable mission effectively and maintaining a strong oversight structure.
However, the organization's rating is hindered by notable shortcomings in its transparency and accountability practices. The absence of essential documents such as a conflict of interest policy, whistleblower policy, and a document retention and destruction policy raises concerns about its governance practices. Additionally, the lack of a website listed on the tax form and failure to post its tax form on its website reflect a need for improved communication with the public.
Overall, while the New Market Foundation showcases strong financial integrity and a commitment to its programs, significant gaps in transparency policies could impact its reliability in the eyes of potential donors and stakeholders. Addressing these issues would enhance its overall standing and trustworthiness in the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is New Market Foundation legitimate?
New Market Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Market 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.
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What is the mission statement of New Market Foundation?
The New Market Foundation's mission is centered around improving the community by purchasing and refurbishing dilapidated properties. Once these properties are restored, they are either sold or leased to employers or homeowners, thereby revitalizing the area. This initiative aims to enhance the overall appearance and livability of the community, potentially attracting new businesses and residents.
Who is the CEO of New Market Foundation?
Rick Cabbage is the President of New Market Foundation.
What is the revenue of New Market Foundation?
New Market Foundation's revenue in 2021 was $32,893.
Who are the executives of New Market Foundation and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for New Market Foundation?
New Market Foundation's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of New Market Foundation
The New Market Foundation, as a nonprofit organization, is committed to addressing the issue of blighted properties within the community. Its mission involves proactively purchasing and revitalizing these neglected properties. Once restored, these properties are then either sold or leased out to employers or homeowners. This initiative not only enhances the aesthetic appeal of the community but also provides opportunities for businesses and individuals to establish a presence in the area. By investing in the renovation and subsequent sale or lease of blighted properties, the New Market Foundation contributes to the overall improvement and growth of the community.
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Impact
August, 2024
New Market Foundation's impact lies in its strategic efforts to purchase and revitalize blighted properties within the community of New Market, Iowa. By improving these properties, the foundation contributes to the economic and social development of the area. Through the sale or lease of these properties to employers or homeowners, the foundation helps in creating sustainable solutions while fostering a sense of community pride and progress.
This information is meant to be a general summary of New Market 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 2021.
- Program Service Revenue: $3
- Gross Receipts: $37,307
Assets and Liabilities:
- Total Assets: $44,093
- Total Liabilities: $0
- Net Assets: $44,093
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST
Revenue
$3
Organization Details
Founding Year
2006
Phone
(712) 829-2488Principal Officer
Rick Cabbage
Main Address
PO BOX 96, NEW MARKET, IA, 51646
NTEE Category
Code: P99 - Human services
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