Overview
What is Niagara-Orleans Regional Land Improvement Corporation?
The Niagara-Orleans Regional Land Improvement Corporation (NORLIC), headquartered in Sanborn, New York, is a municipal collaboration committed to revitalizing their community. With a focus on acquiring vacant and abandoned properties, NORLIC transforms these neglected spaces into productive assets, ultimately benefiting future generations. This nonprofit organization was established by five local governing bodies: the County of Niagara, the County of Orleans, the City of Lockport, the City of Niagara Falls, and the City of North Tonawanda. The corporation's board is appointed by these founding entities. When properties come under government foreclosure, they are made available to NORLIC. Once renovated and sold, the profit is shared among the creating governments based on a predetermined formula.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
The Niagara-Orleans Regional Land Improvement Corporation has received an 87% rating from Charity Navigator, indicating a solid level of accountability and financial health. The organization excels in several key areas, including having a fully independent board and a favorable liabilities to assets ratio of 0.00%, which reflects sound financial management.
Strengths of the organization include a high program expense ratio of 97.16%, suggesting that a significant portion of its budget is directed towards fulfilling its mission. Additionally, the presence of comprehensive conflict of interest and whistleblower policies demonstrates a commitment to transparency and ethical governance.
Despite its strengths, the charity's rating falls short of the highest tier. While it has implemented many best practices, there may be opportunities for improvement in communicating its impact and effectiveness to stakeholders. Overall, the organization is performing well, but could benefit from enhancing its public image and outreach efforts.
This AI summary has been generated from information found on Charity Navigator.
Is Niagara-Orleans Regional Land Improvement Corporation legitimate?
Niagara-Orleans Regional Land Improvement Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Niagara-Orleans Regional Land Improvement 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $88,008
For more financial information, click here
What is the mission statement of Niagara-Orleans Regional Land Improvement Corporation?
The Niagara-Orleans Regional Land Improvement Corporation (NORLIC) is a cooperative venture between five local governmental units: Niagara County, Orleans County, Lockport City, Niagara Falls City, and North Tonawanda City. Their mission is to transform abandoned and vacant properties into productive assets, thereby enhancing the community for future generations. This is achieved through a partnership with the governments, who transfer foreclosed properties to the corporation. Upon selling these properties, the corporation returns a share of the profits to the governments, based on a predetermined profit-sharing formula. This collaborative effort aims to revitalize the community and create a better living environment for future generations.
Who is the CEO of Niagara-Orleans Regional Land Improvement Corporation?
Andrea Klyczek is the Chairperson of Niagara-Orleans Regional Land Improvement Corporation.
What is the revenue of Niagara-Orleans Regional Land Improvement Corporation?
Niagara-Orleans Regional Land Improvement Corporation's revenue in 2022 was $1,031,429.
Who are the executives of Niagara-Orleans Regional Land Improvement Corporation and what are their salaries?
The average compensation at Niagara-Orleans Regional Land Improvement Corporation during 2022 was $88,008. There is 1 employee at Niagara-Orleans Regional Land Improvement Corporation.
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Where can I find the form 990 for Niagara-Orleans Regional Land Improvement Corporation?
Niagara-Orleans Regional Land Improvement Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Niagara-Orleans Regional Land Improvement Corporation
Niagara-Orleans Regional Land Improvement Corporation, often referred to as NORLIC, is a municipal partnership established by five governmental units: the County of Niagara, the County of Orleans, the City of Lockport, the City of Niagara Falls, and the City of North Tonawanda. The corporation's mission is to improve its community by acquiring and restoring abandoned properties, transforming them into productive assets. This endeavor aims to create a better living environment for future generations.
The board of NORLC is appointed by the five creating governmental units, and the corporation gains access to foreclosed properties from these governments. The corporation then renovates and sells these properties, with the future profits being shared among the governments based on a predetermined formula. This profit-sharing arrangement incentivizes the corporation to maximize its revenue from the sale of these properties, thereby contributing to the community's overall development. In essence, NORLC serves as a catalyst for community revitalization by addressing the issue of abandoned properties and turning them into valuable resources.
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Impact
July, 2024
Niagara-Orleans Regional Land Improvement Corporation's impact is centered around acquiring vacant and abandoned properties in collaboration with communities. By returning these properties to productive use, NORLIC is effectively enhancing the local community for future generations. The corporation's efforts focus on acquisition, stabilization, and eventual sale of these properties for redevelopment, ultimately contributing to community improvement.
This information is meant to be a general summary of Niagara-Orleans Regional Land Improvement 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.
- Gross Receipts: $1,031,429
Assets and Liabilities:
- Total Assets: $1,021,237
- Total Liabilities: $0
- Net Assets: $1,021,237
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Organization Details
Founding Year
2017
Phone
(716) 278-8761Principal Officer
Andrea Klyczek
Main Address
6311 INDUCON CORPORATE DRIVE, SANBORN, NY, 14132
NTEE Category
Code: S31 - Community improvement
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