Overview
What is New River Valley Works Inc?
New River Valley Works Inc is a nonprofit organization committed to stimulating local business growth and employment opportunities. They achieve this by leasing underutilized commercial spaces to local enterprises on favorable terms, thereby attracting tenants to Pulaski, VA. Additionally, they offer contract-based work for professionals and internship opportunities for recent graduates, aiming to decrease underemployment in the area. This holistic approach aims to boost the local economy, reduce poverty, and revitalize the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 40% (Zero-Star out of Four Star rating)
New River Valley Works Inc has received a low rating of 40% from Charity Navigator, indicating significant concerns in its accountability and financial practices. The score is based entirely on the Accountability & Finance beacon, where the organization has performed poorly, particularly in its liabilities to assets ratio and program expense ratio.
Strengths noted include a fully independent board with ten members and a solid conflict of interest policy. However, the organization lacks critical policies such as a whistleblower policy and a document retention and destruction policy, which are essential for transparency and accountability. Additionally, while board meeting minutes are documented, the absence of a posted Tax Form on the nonprofit's website reflects a failure to meet transparency standards.
The low program expense ratio of 13.62% raises concerns about the organization's effectiveness in allocating funds toward its mission. This suggests that a large portion of its resources may not be directed towards program services, which could limit its impact in the community it serves. Overall, potential donors and stakeholders should carefully consider these factors when evaluating New River Valley Works Inc.
This AI summary has been generated from information found on Charity Navigator.
Is New River Valley Works Inc legitimate?
New River Valley Works Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New River Valley Works 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.
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What is the mission statement of New River Valley Works Inc?
New River Valley Works Inc's mission is centered around purchasing and leasing underutilized commercial spaces on favorable terms to local industrial enterprises. This strategy is aimed at attracting businesses to a specific area, thereby fostering employment opportunities and potentially reducing poverty and societal blight. The organization also extends its services by offering contract-based work for professionals and internship opportunities for recent graduates, thereby contributing to local employment and skill development.
Who is the CEO of New River Valley Works Inc?
Kevin Lindamood is the President of New River Valley Works Inc.
What is the revenue of New River Valley Works Inc?
New River Valley Works Inc's revenue in 2022 was $62,918.
Who are the executives of New River Valley Works Inc and what are their salaries?
Here are 7 key members and their salaries:
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Where can I find the form 990 for New River Valley Works Inc?
New River Valley Works Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of New River Valley Works Inc
New River Valley Works, a nonprofit organization, is on a mission to make a significant impact in its community. Its primary objective is to purchase underutilized commercial spaces and lease them out to local industrial enterprises on favorable terms. By doing so, the organization aims to attract tenants to the area, thereby creating employment opportunities and contributing to the reduction of poverty and blight.
Beyond leasing commercial spaces, New River Valley Works also extends its reach to the local workforce. It provides contract-based work for professionals, offering them a platform to utilize their skills and contribute to the growth of the industrial sector. Moreover, the organization offers internship opportunities for recent graduates. This initiative not only helps the fresh talent gain practical experience but also ensures a steady supply of skilled workers for the local enterprises. By combining these two strategies, New River Valley Works is effectively working towards stimulating economic growth in its community.
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Impact
August, 2024
New River Valley Works Inc's impact is significant in Pulaski, VA. By creating an industrial park that leases commercial space to local enterprises on favorable terms, the organization is actively reducing area underemployment. Through offering contract-based work for professionals and internship opportunities for recent graduates, New River Valley Works is making a meaningful contribution to the local community by providing employment opportunities and helping to alleviate poverty and blight. The organization's mission to purchase underutilized commercial space and attract tenants to Pulaski VA demonstrates a commitment to community improvement and economic development.
This information is meant to be a general summary of New River Valley Works 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.
- Program Service Revenue: $52,208
- Gross Receipts: $106,500
Assets and Liabilities:
- Total Assets: $1,208,451
- Total Liabilities: $1,168,988
- Net Assets: $39,463
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Lease real property to qualified entity
Revenue
$52,208
Organization Details
Founding Year
2017
Phone
(540) 440-5775Principal Officer
Kevin Lindamood
Main Address
PO BOX 1026, PULASKI, VA, 243011026
NTEE Category
Code: S47 - Community improvement
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