Overview
What is Oswego County Land Bank Corporation?
The Oswego County Land Bank Corporation, located at 44 E Bridge Street, Oswego, NY 13126, is a nonprofit organization dedicated to revitalizing blighted or vacant properties in the community. Their mission is to strategically transform these neglected spaces into appealing residential properties, stimulating local planning, economic development, and neighborhood revitalization. By carrying out rehabilitations and occasional demolitions, they aim to enhance the quality of life in local communities throughout the county. In 2022, the organization completed 10 rehabilitations, 3 demolitions, and sold 12 properties and 2 lots. Their efforts not only improve property values but also contribute positively to the surrounding taxpayers and the overall community.
Official website here: www.oswegocountylandbank.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50%, One-Star out of Four Stars
The Oswego County Land Bank Corporation has received a low rating of 50% from Charity Navigator, primarily indicating concerns about its financial management and program efficiency. The organization has excelled in governance, with perfect scores for having a majority independent board, documenting board meeting minutes, and maintaining robust conflict of interest and whistleblower policies. These aspects demonstrate a commitment to accountability and transparency within its leadership.
However, the organization struggles significantly in financial ratios, with a liabilities-to-assets ratio of 5.73% and a program expense ratio of only 44.41%. This suggests that a large portion of its resources may not be going towards its intended programs or services. Such financial performance raises questions regarding its operational efficiency and the impact of its efforts in the community.
Overall, while Oswego County Land Bank Corporation demonstrates strong governance practices, its financial difficulties highlight areas that need improvement to enhance its effectiveness and justify the trust of its stakeholders. Addressing these financial challenges will be crucial for the organization to achieve a better rating and fulfill its mission more effectively.
This AI summary has been generated from information found on Charity Navigator.
Is Oswego County Land Bank Corporation legitimate?
Oswego County Land Bank Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Oswego County Land Bank Corporation 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.oswegocountylandbank.com
What is the mission statement of Oswego County Land Bank Corporation?
The Oswego County Land Bank Corporation's mission is to strategically revitalize blighted or vacant properties, stimulating local planning, economic development, and neighborhood renovation. This initiative aims to enhance the quality of life in local communities across the county. By transforming neglected properties, the corporation improves surrounding property values and minimizes negative impacts on the community. Through rehabilitation or demolition, the organization returns these properties to their most productive and economical uses, ultimately getting them back on the tax rolls. In 2022, the corporation completed 10 rehabilitations and 3 demolitions, with 12 properties and 2 lots sold during the year.
Official website here: www.oswegocountylandbank.com
Who is the CEO of Oswego County Land Bank Corporation?
Shane Broadwell is the President of Oswego County Land Bank Corporation.
Official website here: www.oswegocountylandbank.com
What is the revenue of Oswego County Land Bank Corporation?
Oswego County Land Bank Corporation's revenue in 2022 was $1,033,264.
Official website here: www.oswegocountylandbank.com
Who are the executives of Oswego County Land Bank Corporation and what are their salaries?
There 9 volunteers at Oswego County Land Bank Corporation.
Here are 9 key members and their salaries:
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Official website here: www.oswegocountylandbank.com
Where can I find the form 990 for Oswego County Land Bank Corporation?
Oswego County Land Bank Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.oswegocountylandbank.com
Learn more at the official website: www.oswegocountylandbank.com
Mission Statement of Oswego County Land Bank Corporation
The Oswego County Land Bank Corporation is dedicated to strategically transforming blighted or vacant properties into appealing residential properties. This mission aims to stimulate local planning, economic development, and neighborhood revitalization, ultimately improving the quality of life in various communities throughout the county. By rehabilitating neglected properties or, on occasion, demolishing them, the organization returns these spaces to their most productive and economical uses for the respective communities. This revitalization process helps increase property values and decrease negative impacts in the surrounding areas. In 2022, the corporation completed ten complete rehabilitations and three demolitions, further contributing to the county's overall development and community growth by selling 12 properties and 2 lots during the year.
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Impact
July, 2024
Oswego County Land Bank Corporation plays a vital role in revitalizing local communities throughout the county by strategically transforming blighted or vacant properties into appealing residential properties. This organization's impact is evident in the significant improvement of neighborhood aesthetics, the stimulation of economic development, and the overall enhancement of the quality of life for residents. By rehabilitating or, when necessary, demolishing neglected properties, Oswego County Land Bank Corporation effectively mitigates the negative impacts that blight can have on surrounding property values and community well-being. The completion of 10 rehabilitations and 3 demolitions in 2022, along with the sale of 12 properties and 2 lots, demonstrates the tangible outcomes of their efforts in revitalizing neighborhoods and returning properties to productive use. Their work not only transforms individual properties but also contributes to the broader goal of fostering community improvement and sustainability.
This information is meant to be a general summary of Oswego County Land Bank Corporation. 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: $1,158
- Gross Receipts: $2,362,096
Assets and Liabilities:
- Total Assets: $3,426,387
- Total Liabilities: $57,211
- Net Assets: $3,369,176
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Organization Details
Founding Year
2016
Phone
(315) 349-3202Principal Officer
Shane Broadwell
Main Address
44 E BRIDGE STREET 303, OSWEGO, NY, 13126
Website
www.oswegocountylandbank.comNTEE Category
Code: S47 - Community improvement
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