Overview
What is Ujamaa Economic Development Corporation?
Ujamaa Economic Development Corporation is a nonprofit organization situated in New Orleans, Louisiana, with a focus on the equitable redevelopment of the Claiborne Corridor and adjacent communities. Their mission is to empower local residents, promoting cultural preservation, economic opportunities, affordable housing, environmental sustainability, and the enhancement of safe and healthy neighborhoods in this historic community. With a dedicated team of two individuals, they work tirelessly to ensure these initiatives are resident-led and aligned with their commitment to equity and community development.
Official website here: www.ujamaaedc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Ujamaa Economic Development Corporation has received a Three-Star rating from Charity Navigator, indicating a solid performance in terms of accountability and finance. The organization scored 81% overall, with its rating entirely derived from an Accountability & Finance score. This score is a positive reflection of the charity's financial health and governance practices, suggesting a strong commitment to transparency and responsible financial management.
The charity demonstrates impressive governance structures, including a fully independent board consisting of 11 members, which earned it full points for both independent board membership and size. Additionally, Ujamaa has no material diversion of assets, and it maintains comprehensive policies regarding conflict of interest, whistleblower protections, and document retention. These factors suggest a well-managed organization with a strong ethical framework.
On the financial side, Ujamaa's program expense ratio stands at 86.70%, indicating that a significant portion of its funding is directed towards its programs rather than administrative costs. The organization's liabilities to assets ratio is also low at 9.27%, showcasing its strong financial stability. Overall, while the organization appears to be well-managed and financially sound, the rating emphasizes the importance of continuing to uphold these standards for donor confidence and program effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Ujamaa Economic Development Corporation legitimate?
Ujamaa Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ujamaa Economic 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:
Executive Compensation: $90,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,923
For more financial information, click here
Official website here: www.ujamaaedc.org
What is the mission statement of Ujamaa Economic Development Corporation?
The Ujamaa Economic Development Corporation was established with a mission to promote equitable redevelopment in the Claiborne Corridor and surrounding communities. Their leadership is dedicated to fostering resident-led initiatives, focusing on cultural preservation, economic opportunities, affordable housing, environmental sustainability, and the creation of safe and healthy neighborhoods for this historical community. The organization is committed to ensuring the betterment of this Claiborne area, prioritizing the needs and involvement of its residents.
Official website here: www.ujamaaedc.org
Who is the CEO of Ujamaa Economic Development Corporation?
Nyree Ramsey is the Chair of Ujamaa Economic Development Corporation.
Official website here: www.ujamaaedc.org
What is the revenue of Ujamaa Economic Development Corporation?
Ujamaa Economic Development Corporation's revenue in 2022 was $570,347.
Official website here: www.ujamaaedc.org
Who are the executives of Ujamaa Economic Development Corporation and what are their salaries?
The average compensation at Ujamaa Economic Development Corporation during 2022 was $48,462. There are 2 employees at Ujamaa Economic Development Corporation.
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Official website here: www.ujamaaedc.org
Where can I find the form 990 for Ujamaa Economic Development Corporation?
Ujamaa Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ujamaaedc.org
Learn more at the official website: www.ujamaaedc.org
Mission Statement of Ujamaa Economic Development Corporation
Ujamaa Economic Development Corporation, a nonprofit organization, was established with a mission to promote equitable redevelopment in the Claiborne Corridor and its surrounding communities. The corporation's leadership is committed to fostering resident-led initiatives aimed at preserving the community's culture, creating economic opportunities, ensuring housing affordability, promoting environmental sustainability, and fostering safe and healthy neighborhoods. The organization's goal is to uplift this historic Claiborne community by empowering its residents and enhancing their quality of life.
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Impact
July, 2024
Ujamaa Economic Development Corporation's impact can be seen in the equitable redevelopment of the Claiborne Corridor and adjacent communities. Through resident-led initiatives focused on cultural preservation, economic opportunity, housing affordability, environmental sustainability, and creating safe and healthy neighborhoods, the organization has played a vital role in transforming the historic Claiborne community in New Orleans, Louisiana. Their commitment to these aspects has had a tangible and positive impact on the community, driving improvements and fostering a sense of empowerment among residents.
This information is meant to be a general summary of Ujamaa Economic 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: $1,000
- Gross Receipts: $570,347
Assets and Liabilities:
- Total Assets: $1,093,872
- Total Liabilities: $101,590
- Net Assets: $992,282
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Organization Details
Founding Year
2019
Phone
(504) 258-1389Principal Officer
Nyree Ramsey
Main Address
1240 N Claiborne Ave, New Orleans, LA, 70116
Website
www.ujamaaedc.orgNTEE Category
Code: S99 - Community improvement
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