Overview
What is Fort Hood Region Economic Development Foundation?
The Fort Hood Region Economic Development Foundation, based in Killeen, Texas, is a nonprofit organization dedicated to fostering economic growth in the region. They perform comprehensive studies and analyses to identify the needs of both the community and businesses, aiming to enhance prosperity. The foundation serves as a catalyst, offering vision, leadership, and support to educational, community, and business leaders. By promoting effective collaboration, they strive to create a thriving economic landscape in the Fort Hood region.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 71%, Two-Star out of Four Star rating
The Fort Hood Region Economic Development Foundation has received a two-star rating from Charity Navigator, indicating a moderate level of accountability and financial health. While the organization boasts a strong independent board with 100% of its members being independent and a solid program expense ratio of 100%, it also faces challenges, particularly in financial liabilities, where its liabilities exceed assets significantly.
Strengths noted include a comprehensive conflict of interest policy and complete financial statements that have been reviewed or compiled. However, the organization does not have a whistleblower policy or a document retention and destruction policy in place, which are important for transparency and governance. This absence signals potential areas for improvement in their operational practices.
Overall, while the foundation demonstrates positive aspects in governance and program expenditure, the financial health indicators raise concerns that could affect its sustainability and operational effectiveness. Addressing the governance policy gaps may enhance its rating and overall effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Fort Hood Region Economic Development Foundation legitimate?
Fort Hood Region Economic Development Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fort Hood Region Economic Development Foundation 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 Fort Hood Region Economic Development Foundation?
The Fort Hood Region Economic Development Foundation serves as a catalyst for economic growth by providing vision, leadership, and support to educational, community, and business leaders. Their primary goal is to foster effective collaboration, aiming to create prosperity for the community at large. They undertake studies and analyses to identify the needs of local businesses and the community, with the intention of furthering economic development.
Who is the CEO of Fort Hood Region Economic Development Foundation?
Scott Connell is the Director of Fort Hood Region Economic Development Foundation. The CEO's salary of Fort Hood Region Economic Development Foundation is $0 and their total compensation is $0.
What is the revenue of Fort Hood Region Economic Development Foundation?
Fort Hood Region Economic Development Foundation's revenue in 2022 was $916,989.
Who are the executives of Fort Hood Region Economic Development Foundation and what are their salaries?
Here are 14 key members and their salaries (Fort Hood Region Economic Development Foundation's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990 for Fort Hood Region Economic Development Foundation?
Fort Hood Region Economic Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fort Hood Region Economic Development Foundation
The Fort Hood Region Economic Development Foundation serves a vital role in fostering economic growth by providing vision, leadership, and support to educational, community, and business leaders. This nonprofit organization aims to promote collaboration among these sectors, with the ultimate goal of creating prosperity within the community. By offering their expertise and resources, they strive to analyze the needs of both the community and businesses, thereby driving further economic advancement.
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Impact
July, 2024
The Fort Hood Region Economic Development Foundation has significantly impacted the Killeen area by providing vision, leadership, and support to educational, community, and business leaders. Through effective collaboration, the foundation has worked to create economic prosperity in the region. Its focus on conducting studies and analysis of the community's needs has furthered economic growth in Killeen, Texas. The foundation's efforts have had a positive impact on employment opportunities and overall economic development in the region.
This information is meant to be a general summary of Fort Hood Region Economic Development Foundation. 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: $27
- Program Service Revenue: $39,586
- Gross Receipts: $916,989
Assets and Liabilities:
- Total Assets: $205,016
- Total Liabilities: $211,094
- Net Assets: -$6,078
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP ACTIVITY
Revenue
$39,586
Organization Details
Founding Year
2017
Phone
(254) 526-9551Principal Officer
Scott Connell
Main Address
PO BOX 548, KILLEEN, TX, 76540
NTEE Category
Code: J99 - Employment
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