Overview
What is Chemung County Property Development Corporation?
The Chemung County Property Development Corporation, based in Elmira, New York, is a charitable organization devoted to combating community deterioration. Established as a land bank, its mission is to address the issue of vacant and abandoned properties within Chemung County and the city of Elmira, specifically focusing on returning these tax-delinquent properties to productive use. By doing so, the corporation aims to eliminate the associated harms and liabilities, lessen the burden on local government, and ultimately act in the public interest, working diligently to enhance the overall well-being of the community.
Official website here: www.chemunglandbank.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
The Chemung County Property Development Corporation has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and finance. The organization scored exceptionally well in several key areas, including having a fully independent board and a solid program expense ratio, which indicates effective allocation of resources towards its mission.
Strengths include a comprehensive governance structure, with complete independence among board members and robust policies in place for conflict of interest, whistleblowing, and document retention. The organization also demonstrated transparency by listing its website on the tax form and maintaining accurate board meeting minutes, enhancing its credibility with stakeholders.
However, the organization’s liabilities to assets ratio could be improved, with a score of 10 out of 15 points. Despite this limitation, the overall financial health and governance practices position the Chemung County Property Development Corporation as a reliable nonprofit committed to its objectives.
This AI summary has been generated from information found on Charity Navigator.
Is Chemung County Property Development Corporation legitimate?
Chemung County Property Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chemung County Property Development 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.
Heare are some key statistics you may want to consider:
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For more financial information, click here
Official website here: www.chemunglandbank.com
What is the mission statement of Chemung County Property Development Corporation?
The Chemung County Property Development Corporation, functioning as a land bank, was established with a charitable purpose to combat the issue of vacant and abandoned properties within the community. Its primary mission is to facilitate the return of these properties, which are also tax delinquent, to productive use. By doing so, the corporation aims to eliminate the harmful effects and liabilities caused by such properties, lessen the burden on the government, and act in the public interest, thereby contributing to the overall improvement of the community.
Official website here: www.chemunglandbank.com
Who is the CEO of Chemung County Property Development Corporation?
L Thomas Sweet is the Chairman of Chemung County Property Development Corporation.
Official website here: www.chemunglandbank.com
What is the revenue of Chemung County Property Development Corporation?
Chemung County Property Development Corporation's revenue in 2022 was $410,597.
Official website here: www.chemunglandbank.com
Who are the executives of Chemung County Property Development Corporation and what are their salaries?
Here are 7 key members and their salaries:
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Official website here: www.chemunglandbank.com
Where can I find the form 990 for Chemung County Property Development Corporation?
Chemung County Property Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chemunglandbank.com
Learn more at the official website: www.chemunglandbank.com
Mission Statement of Chemung County Property Development Corporation
The Chemung County Property Development Corporation, a charitable organization, was established with a mission to address the issue of vacant and abandoned properties in local communities. Its primary goal is to facilitate the return of these properties to productive use, thereby combating community deterioration. By doing so, the Corporation aims to eliminate the harmful effects and liabilities caused by such properties, lessening the burden on government, and acting in the public interest. The Corporation operates as a land bank, working tirelessly to combat community deterioration and restore properties to their former glory, ultimately benefiting the community at large.
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Impact
June, 2024
Chemung County Property Development Corporation's impact is significant in combating the issue of vacant and abandoned properties in Chemung County and the City of Elmira. By facilitating the return of these properties to productive use, the corporation helps eliminate the harms and liabilities associated with such properties. This not only revitalizes the community but also lessens the burden on the government and acts in the public interest. Through its work as a land bank, the corporation plays a crucial role in combatting community deterioration and promoting sustainable development in the region.
This information is meant to be a general summary of Chemung County Property Development 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: $337,597
- Gross Receipts: $410,597
Assets and Liabilities:
- Total Assets: $477,311
- Total Liabilities: $7,264
- Net Assets: $470,047
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Organization Details
Founding Year
2016
Phone
(607) 654-7487Principal Officer
L Thomas Sweet
Main Address
400 EAST CHURCH STREET, ELMIRA, NY, 14901
Website
www.chemunglandbank.comNTEE Category
Code: C34 - Environment
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