Overview
What is Millville Urban Redevelopment Arts & Innovation Center Corporporation?
Millville Urban Redevelopment Arts & Innovation Center Corporation is a nonprofit organization based in Millville, New Jersey. Their primary goal is to offer leased facilities to community groups, enabling them to carry out various programs, activities, education, and business development initiatives. By providing this space, the corporation aims to foster growth and engagement within the community. Their mission is deeply rooted in empowering local groups and promoting development through their resources.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 65% (Two-Star out of Four Stars)
Millville Urban Redevelopment Arts & Innovation Center Corporation has received a Two-Star rating from Charity Navigator, indicating a score of 65%. This rating is solely based on its Accountability & Finance metrics, reflecting the organization’s financial health and governance practices. While the score demonstrates certain strengths, particularly in board independence and program efficiency, the overall rating suggests room for improvement in some critical financial areas.
The organization has a fully independent board and has demonstrated strong practices in documenting board meeting minutes, as well as distributing tax forms to board members prior to filing. Additionally, it scores well in areas such as program expense ratio and working capital ratio, indicating effective use of resources toward its mission and sustainability. However, the organization faces significant challenges in terms of fundraising efficiency and its liabilities to assets ratio, which are critical indicators of financial stability and operational effectiveness.
Despite its commendable governance practices, the lack of efficiency in fundraising and higher liabilities could pose risks for future operations. Potential donors and stakeholders may want to consider these factors when assessing the organization's viability and impact in the community. Overall, while the Millville Urban Redevelopment Arts & Innovation Center Corporation shows promise in governance and program implementation, it must address its financial shortcomings to enhance its operational effectiveness and donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Millville Urban Redevelopment Arts & Innovation Center Corporporation legitimate?
Millville Urban Redevelopment Arts & Innovation Center Corporporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Millville Urban Redevelopment Arts & Innovation Center Corporporation 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: $0
For more financial information, click here
What is the mission statement of Millville Urban Redevelopment Arts & Innovation Center Corporporation?
The Millville Urban Redevelopment Arts & Innovation Center Corporation's mission, as stated, is to offer leased space to various community groups. This space is intended for the facilitation of programs, activities, education, and business development. By providing this service, the corporation aims to contribute to the community's growth and development in a multifaceted manner. The center's primary objective is to foster a space where community groups can thrive and contribute positively to their respective fields. This could range from educational initiatives to business development endeavors, all aimed at enriching the community.
What is the revenue of Millville Urban Redevelopment Arts & Innovation Center Corporporation?
Millville Urban Redevelopment Arts & Innovation Center Corporporation's revenue in 2024 was $145,329.
Who are the executives of Millville Urban Redevelopment Arts & Innovation Center Corporporation and what are their salaries?
Here are 6 key members and their salaries:
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Where can I find the form 990 for Millville Urban Redevelopment Arts & Innovation Center Corporporation?
Millville Urban Redevelopment Arts & Innovation Center Corporporation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Millville Urban Redevelopment Arts & Innovation Center Corporporation
Millville Urban Redevelopment Arts & Innovation Center Corporation is dedicated to providing a leased facility for various community groups. Their mission encompasses offering space for a wide array of programs, activities, education, and business development initiatives. By leasing a facility, this organization enables these community groups to carry out their objectives, thereby fostering growth and development within the community. The Corporation's role is instrumental in creating an environment where community groups can thrive, ultimately contributing to the betterment of the community as a whole.
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Impact
October, 2024
The Millville Urban Redevelopment Arts & Innovation Center Corporation significantly contributes to community enhancement by providing leased space for various groups focused on programs, activities, education, and business development. By facilitating access to resources and space, it fosters collaboration and creativity among local organizations, enhancing community cohesion and growth. This initiative supports educational programs and business development efforts, which ultimately strengthens the local economy and enriches the cultural fabric of Millville, NJ. The center serves as a vital hub that empowers individuals and groups, promoting social engagement and innovation in the community.
This information is meant to be a general summary of Millville Urban Redevelopment Arts & Innovation Center Corporporation. 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 2024.
- Investment Income: $4
- Program Service Revenue: $145,325
- Gross Receipts: $145,329
Assets and Liabilities:
- Total Assets: $6,411,305
- Total Liabilities: $7,207,993
- Net Assets: -$796,688
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTALS
Revenue
$145,325
Organization Details
Founding Year
2016
Principal Officer
Gerard Velazquez Iii
NTEE Category
Code: S47 - Community improvement
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