Overview
What is Central Business District Foundatio?
The Central Business District Foundation, established in 2016, is a 501(c)3 nonprofit organization located in Virginia Beach, Virginia. The primary purpose of this foundation is to support the "X Scholarship" fund for high school seniors participating in CBDA's Annual Internship Day Program. In addition, the foundation aims to contribute to the local community's enrichment by providing gifts to local non-profit organizations. One of its key objectives is to boost public awareness of the scholarship program, fostering its growth and reach. In 2020, the foundation was able to award three scholarships worth 2,500 dollars each.
Official website here: www.cbda.net
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83%, Three-Star out of Four Stars
The Central Business District Foundation has received an 83% score from Charity Navigator, earning a Three-Star rating primarily based on its Accountability & Finance metrics. The score reflects strong governance practices, including a fully independent board with 10 of 10 board members, and no noted material diversions of assets. Their fiscal management appears sound with a liabilities to assets ratio of 0.00% and a program expense ratio of 85.63%, indicating that a significant portion of their expenditures goes directly to programs.
While the foundation demonstrates robust accountability through various policies, it falls short with the absence of a whistleblower and document retention policy, which are essential for ensuring transparency and ethical operations. The foundation's website is included on its tax form, and it has maintained thorough documentation of board meeting minutes, reinforcing its commitment to accountability.
Overall, the Central Business District Foundation showcases a strong commitment to financial responsibility and governance, with areas for improvement in policy documentation. The organization's effective use of funds toward its programs is commendable, but addressing the missing policies could enhance its overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Central Business District Foundatio legitimate?
Central Business District Foundatio is a legitimate nonprofit organization registered as a 501(c)(3) entity. Central Business District Foundatio 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.
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Official website here: www.cbda.net
What is the mission statement of Central Business District Foundatio?
The Central Business District Foundation, as a 501(c)3 entity, has been established with a primary purpose of supporting the "X Scholarship" fund for high school seniors participating in the Annual Internship Day Program organized by CBDA. Besides contributing to the community's enrichment, one of the objectives of the foundation is to increase public awareness of this scholarship program. Additionally, the foundation aims to provide gifts to local non-profits to further support various charitable causes.
Official website here: www.cbda.net
Who is the CEO of Central Business District Foundatio?
Jeanne Evans Cox is the Director of Central Business District Foundatio.
Official website here: www.cbda.net
What is the revenue of Central Business District Foundatio?
Central Business District Foundatio's revenue in 2022 was $8,141.
Official website here: www.cbda.net
Who are the executives of Central Business District Foundatio and what are their salaries?
Here are 8 key members and their salaries:
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Official website here: www.cbda.net
Where can I find the form 990 for Central Business District Foundatio?
Central Business District Foundatio's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.cbda.net
Learn more at the official website: www.cbda.net
Mission Statement of Central Business District Foundatio
The Central Business District Foundation, as a 501(C)3 entity, has been established with a mission to support the "X Scholarship" fund for high school seniors participating in CBDA's Annual Internship Day Program. Beyond this, the organization aims to enrich the community by providing gifts to local non-profits. One of its primary goals is to raise public awareness about the scholarship program. This non-profit organization is committed to making a positive impact in its community by supporting the educational aspirations of young individuals and contributing to the well-being of other local charitable organizations.
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Impact
August, 2024
Central Business District Foundation's impact includes supporting high school seniors through the "X Scholarship" fund and providing gifts to local non-profits. The foundation, established in 2016, awarded three $2,500 scholarships in 2020. By contributing to the community's enrichment and promoting awareness of the scholarship program, the foundation plays a crucial role in fostering education and philanthropy in Virginia Beach, VA.
This information is meant to be a general summary of Central Business District Foundatio. 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.
- Program Service Revenue: $4,500
- Gross Receipts: $8,141
Assets and Liabilities:
- Total Assets: $2,507
- Total Liabilities: $0
- Net Assets: $2,507
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MISCELLANEOUS REVENUE
Revenue
$4,500
Organization Details
Principal Officer
Jeanne Evans Cox
Main Address
ONE COLUMBUS CENTER SUITE 611, VIRGINIA BEACH, VA, 23462
Website
www.cbda.netNTEE Category
Code: B82 - Education
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