Overview
What is Humboldt Bay Development Association Inc?
Humboldt Bay Development Association Inc is a nonprofit organization located in Eureka, California, with an address at 601 Startare Drive, ZIP code 95501. Their primary mission is to contribute to social welfare by addressing community deterioration and stimulating economic growth. They accomplish this by rehabilitating and converting underutilized, previously environmentally contaminated properties into commercial spaces for community-oriented tenants. The tenants' businesses are integral to the redevelopment and master plan of the Humboldt Bay area, serving as a key growth property for shipping, aquaculture, and renewable energy businesses within the community. The association's purpose is to promote economic development and preserve the area's landscape.
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (58%)
Humboldt Bay Development Association Inc has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its overall performance. While the organization scores well in accountability and finance, particularly with 100% of its board members being independent and a program expense ratio of 85.10%, the overall score reflects challenges in other areas, particularly its liabilities to assets ratio.
The organization demonstrates strengths in governance, with a majority independent board and transparent documentation of board meeting minutes. This shows a commitment to ethical practices and accountability. However, the concerning liabilities to assets ratio of 85.77% indicates potential financial risk, which may impact its sustainability and ability to fulfill its mission effectively.
Overall, while Humboldt Bay Development Association Inc excels in accountability and operational transparency, its financial health raises questions that potential donors and stakeholders may want to consider before engaging with the organization. The combination of high expenses relative to its assets suggests careful evaluation is needed to assess the organization's long-term viability.
This AI summary has been generated from information found on Charity Navigator.
Is Humboldt Bay Development Association Inc legitimate?
Humboldt Bay Development Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Humboldt Bay Development Association Inc 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:
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Other Salaries and Wages: $0
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What is the mission statement of Humboldt Bay Development Association Inc?
The Humboldt Bay Development Association Inc's mission is centered around promoting social welfare. They achieve this by combating community deterioration and encouraging economic development. Specifically, they focus on rehabilitating and converting previously environmentally contaminated properties into commercial spaces. These spaces are then leased to community-oriented tenants, with businesses integral to the redevelopment plan of the Humboldt Bay area. The goal is to serve as a key growth property for the redevelopment of shipping, aquaculture, and renewable energy businesses within the community.
Who is the CEO of Humboldt Bay Development Association Inc?
Richard Marks is the President of Humboldt Bay Development Association Inc.
What is the revenue of Humboldt Bay Development Association Inc?
Humboldt Bay Development Association Inc's revenue in 2022 was $536,649.
Who are the executives of Humboldt Bay Development Association Inc 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 Humboldt Bay Development Association Inc?
Humboldt Bay Development Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Humboldt Bay Development Association Inc
Humboldt Bay Development Association Inc is an organization committed to promoting social welfare within its community. Their mission is twofold: firstly, they aim to combat community deterioration; and secondly, they encourage economic development. They achieve this by rehabilitating and converting previously environmentally contaminated property into commercial spaces, specifically for community-oriented tenants. This redevelopment is integral to the overall master plan of the Humboldt Bay area and serves as a key growth property for shipping, aquaculture, and renewable energy businesses in the community. By doing so, Humboldt Bay Development Association Inc contributes to the revitalization of the area and supports businesses that are beneficial to the community.
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Impact
July, 2024
Humboldt Bay Development Association Inc's impact lies in its commitment to combating community deterioration and encouraging economic development through its unique approach of rehabilitating and converting previously environmentally contaminated properties into commercial spaces for community-oriented tenants. By spearheading the redevelopment and master plan of the Humboldt Bay area, the organization serves as a key driver for the growth of shipping, aquaculture, and renewable energy businesses in the bay community. Through its focus on revitalizing underutilized spaces, Humboldt Bay Development Association Inc plays a vital role in promoting the social welfare of the Eureka, CA community and fostering a sustainable environment for economic prosperity.
This information is meant to be a general summary of Humboldt Bay Development Association Inc. 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: $16
- Program Service Revenue: $536,633
- Gross Receipts: $536,649
Assets and Liabilities:
- Total Assets: $9,788,131
- Total Liabilities: $8,368,591
- Net Assets: $1,419,540
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$536,633
Organization Details
Founding Year
2016
Phone
(707) 443-0801Principal Officer
Richard Marks
Main Address
601 STARTARE DRIVE, EUREKA, CA, 95501
NTEE Category
Code: S30 - Community improvement
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