Overview
What is Hudson Valley Agri-Business Development Corp?
Hudson Valley Agri-Business Development Corp is a nonprofit organization situated in Hudson, New York. Its primary mission is to provide technical assistance and support for agribusinesses, conserve agricultural resources, and facilitate scientific research to attract agricultural producers, related businesses, and processors to the Hudson Valley area. The corporation aims to promote the local agricultural industry and its products, contributing to economic development. Their services include analysis and startup assistance for new ventures, market expansion, improved distribution networks for existing agricultural and food businesses, and access to professional service providers. They also organize public programs such as workshops and financial analysis sessions to support the agricultural sector. The organization has a modest workforce of eight employees, demonstrating its commitment to supporting the agribusinesses and farmers of the Hudson Valley.
Official website here: www.hvadc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Stars)
Hudson Valley Agri-Business Development Corp has received an overall score of 81%, earning a Three-Star rating. This rating reflects their strong performance in accountability and finance, which is the sole factor contributing to their score. The organization has demonstrated effective governance, with a board composed entirely of independent members and robust financial oversight practices.
The nonprofit stands out for its diligence in maintaining transparency and adhering to best practices, including having conflict of interest and whistleblower policies in place. They also excel in areas such as the independence of board members and the availability of financial documents, which adds to their credibility. However, while they maintain a healthy program expense ratio, their liabilities to assets ratio is lower than ideal, indicating some financial risk.
Overall, Hudson Valley Agri-Business Development Corp showcases a commitment to accountability, making it a reliable option for donors seeking to support their initiatives in the agricultural sector. While there are areas for improvement in financial stability, the strengths in governance and transparency are commendable.
This AI summary has been generated from information found on Charity Navigator.
Is Hudson Valley Agri-Business Development Corp legitimate?
Hudson Valley Agri-Business Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hudson Valley Agri-Business 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: $132,962
Professional Fundraising Fees: $0
Other Salaries and Wages: $166,062
For more financial information, click here
Official website here: www.hvadc.org
What is the mission statement of Hudson Valley Agri-Business Development Corp?
The Hudson Valley Agri-Business Development Corp is dedicated to providing agribusiness technical assistance and support, conserving agricultural resources, and conducting scientific research to aid the region. Their primary goal is to attract agricultural producers, related businesses, and processors to the area, thereby promoting the local agricultural industry and its products. This initiative is undertaken to stimulate economic development while reducing or eliminating the burdens on county and regional governments. The corporation carries out activities aimed at supporting the growth and success of the agricultural sector in the Hudson Valley.
Official website here: www.hvadc.org
Who is the CEO of Hudson Valley Agri-Business Development Corp?
Todd Erling is the President of Hudson Valley Agri-Business Development Corp.
Official website here: www.hvadc.org
What is the revenue of Hudson Valley Agri-Business Development Corp?
Hudson Valley Agri-Business Development Corp's revenue in 2022 was $670,033.
Official website here: www.hvadc.org
Who are the executives of Hudson Valley Agri-Business Development Corp and what are their salaries?
The average compensation at Hudson Valley Agri-Business Development Corp during 2022 was $37,378. There are 8 employees at Hudson Valley Agri-Business Development Corp.
Here are 7 key members and their salaries:
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- Compensation: $132,962
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- Other: $13,015
Official website here: www.hvadc.org
Where can I find the form 990 for Hudson Valley Agri-Business Development Corp?
Hudson Valley Agri-Business Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hvadc.org
Learn more at the official website: www.hvadc.org
Mission Statement of Hudson Valley Agri-Business Development Corp
Hudson Valley Agri-Business Development Corp is an organization dedicated to supporting and strengthening the agricultural industry in the region. Its mission encompasses providing technical assistance and support to agribusinesses, preserving agricultural resources, conducting scientific research, and attracting agricultural producers, related businesses, or processors to the area. The corporation's objectives are multifaceted, aiming to promote the Hudson Valley agricultural industry and its products, thereby contributing to economic development. Additionally, Hudson Valley Agri-Business Development Corp engages in activities that aim to reduce or eliminate the burdens on county and regional governments. Through its various initiatives, the organization seeks to foster a thriving and sustainable agricultural sector within its realm of operation.
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Impact
July, 2024
Hudson Valley Agri-Business Development Corp plays a crucial role in fostering the growth and sustainability of the agricultural industry in the Hudson Valley region. Through its technical assistance programs such as the Incubator Without Walls, Farm and Food Funding Accelerator, and Hudson Valley Bounty, HVADC supports new ventures and existing agricultural businesses in accessing resources, expanding their markets, and improving distribution networks.
By providing analysis, start-up assistance, project planning, development services, funding access, and feasibility analysis, HVADC empowers agricultural producers and related businesses to thrive in the competitive market. Additionally, the organization offers educational workshops and sessions on relevant topics like food labeling and financial analysis, further enhancing the capabilities of individuals involved in the agricultural sector.
Overall, HVADC's efforts contribute significantly to the promotion of the Hudson Valley agricultural industry, attracting producers and processors to the area, and ultimately driving economic development. By reducing the burdens on county and regional governments and supporting the conservation of agricultural resources, HVADC plays a vital role in improving the local community and fostering a sustainable agricultural landscape in the region.
This information is meant to be a general summary of Hudson Valley Agri-Business 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: $7
- Program Service Revenue: $339,823
- Gross Receipts: $670,033
Assets and Liabilities:
- Total Assets: $1,314,265
- Total Liabilities: $702,405
- Net Assets: $611,860
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REGIONAL COUNTY CONTRA
Revenue
$192,500
CONSULTING AND GRANT W
Revenue
$132,516
LOAN PROGRAM
Revenue
$14,807
Organization Details
Founding Year
2007
Phone
(518) 432-5360Principal Officer
Todd Erling
Main Address
507 WARREN STREET 2ND FLOOR, HUDSON, NY, 12534
Website
www.hvadc.orgNTEE Category
Code: S32 - Community improvement
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