Overview
What is Taylor Economic Development Corp?
Taylor Economic Development Corp is a dedicated nonprofit organization located in Taylor, Texas. Their primary mission is to stimulate and manage the economic growth of the city by providing various programs for marketing expenditures and community development. Specifically, they focus on attracting new businesses and contributing to the city's overall development. Their activities revolve around promoting and facilitating economic growth within Taylor, TX.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 42% (Zero-Star out of Four Star rating)
The Taylor Economic Development Corp received a low score from Charity Navigator, reflecting significant concerns regarding its accountability and financial practices. While the organization demonstrates strong governance with a fully independent board and an audited financial statement, it falls short in key areas such as conflict of interest and whistleblower policies, which are critical for organizational transparency and ethical governance.
The financial health of the organization also raises questions, particularly with a Liabilities to Assets ratio of 1.88%, indicating potential financial instability. Furthermore, the program expense ratio of 45.83% suggests that less than half of its expenditures are directed toward its programs, which could impact its effectiveness in fulfilling its mission.
Overall, while the Taylor Economic Development Corp has some strong governance features, the lack of vital policies and financial concerns contribute to its low rating, signaling a need for improvement in both operational transparency and financial management.
This AI summary has been generated from information found on Charity Navigator.
Is Taylor Economic Development Corp legitimate?
Taylor Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Taylor Economic Development Corp 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $331,695
For more financial information, click here
What is the mission statement of Taylor Economic Development Corp?
The Taylor Economic Development Corp serves to promote and facilitate economic development within its respective city. This organization achieves this goal by providing programs that help in marketing expenses, aiming to attract new businesses and contribute to community development. The primary objective is to stimulate economic growth and improvement within the city, ultimately benefiting its residents and businesses.
Who is the CEO of Taylor Economic Development Corp?
Robert Garcia is the 2Nd Vice Cha of Taylor Economic Development Corp.
What is the revenue of Taylor Economic Development Corp?
Taylor Economic Development Corp's revenue in 2022 was $2,390,669.
Who are the executives of Taylor Economic Development Corp and what are their salaries?
The average compensation at Taylor Economic Development Corp during 2022 was $110,565. There are 3 employees at Taylor Economic Development Corp.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Taylor Economic Development Corp?
Taylor Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Taylor Economic Development Corp
Taylor Economic Development Corp, as its name suggests, plays a pivotal role in fostering and enhancing the economic growth of its city. Its primary mission is to promote and facilitate economic development within the city, aiming to attract new businesses and contribute to the overall community development. The corporation accomplishes this by offering various programs that cover marketing expenses, thereby acting as a catalyst for economic progress.
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Impact
July, 2024
Taylor Economic Development Corp's impact is significant in driving the economic growth and prosperity of the city of Taylor, TX. By offering programs that support marketing expenses for attracting new businesses and promoting community development, Taylor Economic Development Corp plays a crucial role in fostering a thriving business environment in the city. Through its focused efforts on economic development, this organization contributes to creating job opportunities, enhancing infrastructure, and overall improving the quality of life for residents in Taylor.
This information is meant to be a general summary of Taylor Economic Development Corp. 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: $6,410
- Program Service Revenue: $2,144,488
- Gross Receipts: $2,390,669
Assets and Liabilities:
- Total Assets: $6,023,409
- Total Liabilities: $113,824
- Net Assets: $5,909,585
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$2,144,488
Organization Details
Founding Year
1994
Phone
(512) 352-4321Principal Officer
Robert Garcia
Main Address
PO BOX 975, TAYLOR, TX, 76574
NTEE Category
Code: S30 - Community improvement
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