Overview
What is Western Colorado Business Development Corporation?
The Western Colorado Business Development Corporation is a nonprofit organization situated in Grand Junction, Colorado. Its primary mission is to support new small businesses by offering consultation, training, and assistance with growth and expansion. During the initial stages of a startup, the corporation provides affordable administrative expenses, such as rent and other costs, to help these businesses establish a solid foundation. With a team of 17 dedicated individuals, the Western Colorado Business Development Corporation aims to foster the growth of local businesses and contribute to the economic development of the region.
Official website here: www.gjincubator.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star Rating)
The Western Colorado Business Development Corporation has received a strong score of 88% from Charity Navigator, indicating solid accountability and financial health. This rating is based solely on its Accountability & Finance score, which reflects the organization’s commitment to maintaining a transparent and efficient financial structure. The nonprofit’s independent board is fully composed of independent members, which contributes positively to its governance practices.
Strengths highlighted include a high program expense ratio of 87.80%, demonstrating that a significant portion of its expenses is directed towards its programs rather than administrative costs. The organization has also shown diligence in financial oversight, as evidenced by its audit and oversight committee receiving full marks. However, the absence of a whistleblower policy and document retention and destruction policies are noted limitations that could affect its accountability practices.
Overall, while the organization exhibits strong financial management and a commitment to transparency, the missing policies may need to be addressed to enhance its governance framework further. This could strengthen stakeholder trust and ensure comprehensive risk management moving forward.
This AI summary has been generated from information found on Charity Navigator.
Is Western Colorado Business Development Corporation legitimate?
Western Colorado Business Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Western Colorado Business 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: $127,360
Professional Fundraising Fees: $0
Other Salaries and Wages: $535,057
For more financial information, click here
Official website here: www.gjincubator.org
What is the mission statement of Western Colorado Business Development Corporation?
The Western Colorado Business Development Corporation is committed to aiding new small businesses by providing them with essential assistance, consultation, and affordable administrative expenses. Their mission is to help these start-ups navigate their early stages, offering guidance on growth and expansion. The corporation offers low-cost assistance with expenses such as rent and administration during the initial years of a business's operation, thereby empowering these new ventures to thrive.
Official website here: www.gjincubator.org
What is the revenue of Western Colorado Business Development Corporation?
Western Colorado Business Development Corporation's revenue in 2023 was $1,810,249.
Official website here: www.gjincubator.org
Who are the executives of Western Colorado Business Development Corporation and what are their salaries?
The average compensation at Western Colorado Business Development Corporation during 2023 was $41,401. There are 16 employees and 24 volunteers at Western Colorado Business Development Corporation.
Here are 9 key members and their salaries:
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- Compensation: $127,360
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Official website here: www.gjincubator.org
Where can I find the form 990 for Western Colorado Business Development Corporation?
Western Colorado Business Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.gjincubator.org
Learn more at the official website: www.gjincubator.org
Mission Statement of Western Colorado Business Development Corporation
Western Colorado Business Development Corporation, a nonprofit organization, is committed to aiding the establishment and growth of new small businesses. Its mission is multifaceted, encompassing the provision of consultation, training, and business assistance. The corporation aims to support these fledgling enterprises as they navigate their early stages, offering guidance on expansion and growth. Furthermore, Western Colorado Business Development Corporation provides affordable administrative expenses to alleviate the financial burden during the initial years of a startup's operation. In essence, this nonprofit organization serves as a vital resource for small businesses, offering essential assistance to help them thrive and succeed.
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Impact
July, 2024
Western Colorado Business Development Corporation's impact can be seen in the significant support it provides to new small businesses in Grand Junction, CO. By offering new startup assistance, business consultation, training, and affordable administrative expenses, this organization plays a crucial role in helping entrepreneurs successfully launch and grow their enterprises. Through its low-cost assistance for rent and administration during the early stages of business development, the corporation contributes to the economic vitality of the community and fosters the growth of local businesses. This support ultimately leads to job creation, economic development, and overall community improvement.
This information is meant to be a general summary of Western Colorado Business 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 2023.
- Investment Income: $72,118
- Program Service Revenue: $1,045,985
- Gross Receipts: $1,810,249
Assets and Liabilities:
- Total Assets: $7,982,323
- Total Liabilities: $229,557
- Net Assets: $7,752,766
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT & OTHER PGM INCOME
Revenue
$807,280
LOAN INTEREST
Revenue
$238,705
Organization Details
Founding Year
1986
Principal Officer
Nate Wallace
Website
www.gjincubator.orgNTEE Category
Code: S300 - Community improvement
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