Overview
What is Silverton Downtown Association Inc?
Silverton Downtown Association Inc is a nonprofit organization situated in Silverton, Texas. Their primary mission is to support and assist businesses within the downtown area of Silverton. Their purpose is to address the needs and contribute to the growth of these local enterprises. To accomplish this, they have established an objective of constructing an agricultural center in the city, which can potentially serve as a hub for various agricultural activities. The association's overall goal is to contribute positively to the downtown area of Silverton, Texas.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 60%, Two-Star out of Four Stars
The Silverton Downtown Association Inc has received a Two-Star rating, reflecting a score of 60% based solely on accountability and finance metrics. This score indicates that while the organization has some strengths, particularly in program expense ratio and maintaining no diversion of assets, it falls short in key governance areas. The lack of independent board members and missing essential documents such as a website and whistleblower policy raises concerns about its accountability practices.
One notable strength is the organization's high program expense ratio at 99.31%, suggesting that a significant portion of its funds are directed toward its programs rather than administrative costs. Additionally, the absence of material asset diversion is commendable, indicating financial integrity. However, the absence of independent board members raises questions about the board's objectivity and oversight.
Limitations in accountability practices are evident, as critical policies and documents are missing, which can hinder transparency and trust. This situation may affect the organization's overall effectiveness and community perception. Addressing these governance issues could enhance its rating and performance in the long run.
This AI summary has been generated from information found on Charity Navigator.
Is Silverton Downtown Association Inc legitimate?
Silverton Downtown Association Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Silverton Downtown Association 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 Silverton Downtown Association Inc?
The Silverton Downtown Association Inc's mission is centered around assisting and catering to the needs of businesses within its realm. Their primary focus is to aid these businesses, ensuring their well-being and success. In pursuit of this goal, they actively work towards providing necessary support, thereby contributing to the overall growth and development of the business community. Additionally, the organization is involved in building an agricultural center in an unspecified location.
Who is the CEO of Silverton Downtown Association Inc?
Lori Griffin Mullins is the Chairman of Silverton Downtown Association Inc.
What is the revenue of Silverton Downtown Association Inc?
Silverton Downtown Association Inc's revenue in 2022 was $161,562.
Who are the executives of Silverton Downtown Association Inc and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for Silverton Downtown Association Inc?
Silverton Downtown Association Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Silverton Downtown Association Inc
Silverton Downtown Association Inc is dedicated to serving the needs of businesses in the downtown area of Silverton, Texas. Their primary mission is to provide assistance and aid to these businesses, ensuring their success and growth. The organization's focus is on meeting the unique challenges and requirements of the downtown area, aiming to foster a thriving and vibrant business community.
In pursuing this mission, Silverton Downtown Association Inc takes a proactive approach, seeking to address the needs of its member businesses in a comprehensive manner. This includes providing resources, support, and guidance to help businesses navigate the challenges they face, as well as advocating on their behalf to ensure they have a voice in local decision-making processes. The organization's ultimate goal is to create a business environment that is conducive to growth, innovation, and success, benefiting both the businesses and the wider community.
To further this mission, Silverton Downtown Association Inc has set its sights on building an agricultural center for the city of Silverton, TX. This initiative reflects the organization's commitment to promoting local agriculture and supporting the agricultural industry, which is a significant part of the city's economic and cultural fabric. By creating a centralized hub for agricultural activities, the organization aims to strengthen the agricultural sector, create new opportunities for local farmers and producers, and enhance the city's reputation as a leader in sustainable agriculture.
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Impact
October, 2024
The Silverton Downtown Association Inc significantly contributes to the vitality of Silverton, Texas, by focusing on the needs of local businesses and fostering a thriving downtown community. Its mission centers around providing necessary support and resources to enhance the business environment, ensuring that the downtown area remains a vibrant hub of activity.
One of the key initiatives is the development of an agricultural center, which aims to bolster the local economy by promoting agricultural resources and education. This center is expected to attract visitors and residents alike, further stimulating business growth and community engagement.
Overall, the association plays a crucial role in community improvement, not only aiding individual businesses but also enhancing the overall quality of life in Silverton. By prioritizing the needs of downtown enterprises, it creates a more lively and sustainable economic landscape, benefiting both the local economy and the community as a whole.
This information is meant to be a general summary of Silverton Downtown Association 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.
- Investment Income: $88
- Gross Receipts: $191,176
Assets and Liabilities:
- Total Assets: $1,552,827
- Total Liabilities: $0
- Net Assets: $1,552,827
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Organization Details
Founding Year
2019
Phone
(806) 790-5111Principal Officer
Lori Griffin Mullins
Main Address
PO BOX 242, SILVERTON, TX, 79257
NTEE Category
Code: S20 - Community improvement
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