Overview
What is Economic Development Collaborative- Ventura County?
The Economic Development Collaborative-Ventura County (EDC-VC) is a nonprofit organization situated in Camarillo, California. As a public-private partnership, EDC-VC offers professional consulting, training, and lending services to support businesses, foster growth, and create job opportunities. Their mission is to promote local economic development, administer financial programs, and provide assistance to retain and develop local businesses. In response to the pandemic, EDC-VC pivoted their services to offer bilingual remote consulting, informational webinars, and a rapid response call team. Their initiatives have resulted in leading positions in business advising, capital access for minority-owned businesses, and lending programs for women and minority entrepreneurs. Additionally, EDC-VC secured various designations and funding to improve child care resources and support equitable economic recovery. With a team of 23 employees, EDC-VC aims to empower business owners, connect community partners, and educate civic leaders in the Ventura and Santa Barbara County region.
Official website here: www.edc-vc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81%, Three-Star out of Four Star rating
The Economic Development Collaborative in Ventura County has received an 81% rating from Charity Navigator, indicating a solid performance in accountability and finance. This score reflects the organization's effective governance and responsible management of resources, with a particular strength in maintaining a fully independent board and robust financial oversight. Their program expense ratio of 93.45% demonstrates a strong commitment to directing funds towards their mission rather than administrative costs.
The organization adheres to several best practices, including having a clearly documented conflict of interest policy and a whistleblower policy in place. Additionally, all board meeting minutes are properly recorded, showcasing a transparent operational approach. These elements contribute positively to the trustworthiness and reliability of the nonprofit in fulfilling its mission to support economic development in the area.
There are no significant limitations or concerns highlighted in the data, suggesting that the Economic Development Collaborative is well-managed and focused on its objectives. However, as with any organization, continued vigilance in governance and financial practices remains essential for sustaining their positive impact in the community.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Economic Development Collaborative- Ventura County?
92% of reviewers on Facebook recommend the Economic Development Collaborative- Ventura County. Here is a summary of their reviews:
The nonprofit is generally seen as a commendable resource for those seeking support in economic development. While some feedback indicates that individuals found them to be resourceful, there are suggestions that might indicate a need for improvement or broader outreach.
Overall, the sentiment leans positively, as many appreciate the services offered, though a few hints of reservation suggest room for growth in enhancing user experience.
This AI summary has been generated from reviews found on Facebook.
Is Economic Development Collaborative- Ventura County legitimate?
Economic Development Collaborative- Ventura County is a legitimate nonprofit organization registered as a 501(c)(3) entity. Economic Development Collaborative- Ventura County 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: $642,739
Professional Fundraising Fees: $0
Other Salaries and Wages: $888,675
For more financial information, click here
Official website here: www.edc-vc.com
What is the mission statement of Economic Development Collaborative- Ventura County?
The Economic Development Collaborative-Ventura County, established in 1996, serves as a 501(c)3 non-profit organization dedicated to boosting the economy in the greater Ventura and Santa Barbara County region. Their mission is to foster empowered business owners, foster connections among community partners, and develop informed civic leaders. Their vision encompasses nurturing a robust and healthy regional economy that offers a high quality of life and equitably shared opportunities. The organization engages in various activities such as administering financial and loan programs, offering technical assistance and training, and facilitating cluster development. Their aim is to retain and develop local businesses, assist defense-dependent industries, and disseminate information related to community economic development.
Official website here: www.edc-vc.com
Who is the CEO of Economic Development Collaborative- Ventura County?
Unavailable The CEO's salary of Economic Development Collaborative- Ventura County is $230,510 and their total compensation is $272,095.
Official website here: www.edc-vc.com
What is the revenue of Economic Development Collaborative- Ventura County?
Economic Development Collaborative- Ventura County's revenue in 2022 was $3,851,536.
Official website here: www.edc-vc.com
Who are the executives of Economic Development Collaborative- Ventura County and what are their salaries?
The average compensation at Economic Development Collaborative- Ventura County during 2022 was $66,583. There are 23 employees at Economic Development Collaborative- Ventura County.
Here are 40 key members and their salaries (Economic Development Collaborative- Ventura County's CEO's salary is $230,510 and their total compensation is $272,095):
- Compensation: $230,510
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Official website here: www.edc-vc.com
Where can I find the form 990 for Economic Development Collaborative- Ventura County?
Economic Development Collaborative- Ventura County's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.edc-vc.com
Learn more at the official website: www.edc-vc.com
Mission Statement of Economic Development Collaborative- Ventura County
The Economic Development Collaborative-Ventura County, established in 1996, serves as a 501(c)3 non-profit public/private partnership corporation in the greater Ventura and Santa Barbara County region. With a mission deeply rooted in its name, this organization aims to foster empowered business owners, foster connections among community partners, and educate informed civic leaders. The EDC's ultimate goal is to drive economic growth in the region, with a vision of nurturing a robust and healthy economy that offers a high quality of life and equitable opportunities for all its inhabitants. This nonprofit organization operates by administering financial and loan programs, providing assistance to local businesses, facilitating cluster development, offering technical assistance and training, and disseminating information related to community economic development.
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Impact
July, 2024
The Economic Development Collaborative- Ventura County has had a significant impact on the local economy by providing businesses with professional consulting, training, and lending services to help them thrive and add jobs. In response to the challenges brought on by the pandemic in 2020, the organization made a timely pivot to offer bilingual remote consulting, informational webinars, and rapid response support to help businesses navigate new programs and access capital.
In 2022, the EDC-VC continued to innovate and facilitate economic recovery, with notable achievements such as leading in capital access for Hispanic-owned firms, distributing loans and capital to minority and women-owned businesses, securing funding for child care providers, and participating in initiatives to promote equitable and sustainable regional economic strategies.
Furthermore, the organization's programs have been recognized for their impact, with designations from the State of California as an Inclusive Innovation Hub and a fiscal agent for regional economic initiatives. The EDC-VC's mission to create empowered business owners, connected community partners, and informed civic leaders demonstrates its commitment to fostering a strong and healthy regional economy with broad opportunities for all.
This information is meant to be a general summary of Economic Development Collaborative- Ventura County. 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: $5,596
- Program Service Revenue: $2,342,350
- Gross Receipts: $3,851,536
Assets and Liabilities:
- Total Assets: $13,661,843
- Total Liabilities: $9,808,780
- Net Assets: $3,853,063
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Other Program Revenue
Revenue
$179,273
Program Revenue
Revenue
$2,163,077
Organization Details
Founding Year
1996
Phone
(805) 384-1800Main Address
4001 MISSION OAKS BLVD A-1, CAMARILLO, CA, 93012
Website
www.edc-vc.comNTEE Category
Code: S31 - Community improvement
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