Overview
What is Jefferson Economic Development Institute?
The Jefferson Economic Development Institute (JEDI) is a nonprofit organization situated in Mount Shasta, California. Established in 1996, JEDI aims to enhance the economic well-being of individuals and communities by promoting business development and local wealth creation. Over the past two decades, JEDI has supported over 6,700 individuals in establishing businesses, resulting in the creation of 1,700 businesses and jobs. Additionally, 70 businesses have received financing of approximately 7.6 million dollars. JEDI serves a 4-county region in northern California, with a focus on low and moderate-income families. Their services include business coaching, asset-building opportunities, and general community economic development planning. JEDI also hosts an IRS-sponsored Volunteer Income Tax Assistance (VITA) program, offering free tax preparation services to seniors and low-income wage earners annually. Furthermore, JEDI manages the Mount Shasta Farmers Market, providing a market outlet for local farmers and ranchers. JEDI's mission is to address the root causes of rural poverty and economic development, with a well-seasoned team offering micro and small business coaching and technical assistance.
Official website here: www.jedieconomy.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
The Jefferson Economic Development Institute has achieved an impressive 96% rating, reflecting a strong commitment to accountability and financial management. This high score is predominantly based on a stellar Accountability & Finance score, indicating that the organization operates with transparency and efficiency in its financial practices. The organization boasts a fully independent board, which is critical for governance and oversight.
Key strengths include a very high program expense ratio of 89.81%, suggesting that a significant portion of its funds directly supports its mission and programs. There are no reported issues related to asset diversion, and the organization maintains comprehensive policies such as conflict of interest and whistleblower protections. These elements contribute to its solid reputation within the nonprofit sector.
While the rating does not highlight any specific limitations, ongoing vigilance in maintaining governance standards and program effectiveness will be essential for sustaining this high level of performance. Overall, the Jefferson Economic Development Institute stands out as a responsible and well-managed organization dedicated to its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Jefferson Economic Development Institute legitimate?
Jefferson Economic Development Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Jefferson Economic Development Institute 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: $87,548
Professional Fundraising Fees: $0
Other Salaries and Wages: $450,519
For more financial information, click here
Official website here: www.jedieconomy.org
What is the mission statement of Jefferson Economic Development Institute?
The Jefferson Economic Development Institute (JEDI) is dedicated to improving the economic well-being of individuals and communities. They achieve this goal through business development and local wealth creation. By addressing the root causes of rural poverty and economic development, JEDI has supported over 6,700 people in growing their businesses since 1996. This endeavor has led to the creation of 1,700 businesses and jobs. Additionally, 70 individuals have received financing of approximately 7.6 million dollars, contributing to the economic growth and prosperity of these communities.
Official website here: www.jedieconomy.org
Who is the CEO of Jefferson Economic Development Institute?
Nancy Swift is the Executive Di of Jefferson Economic Development Institute.
Official website here: www.jedieconomy.org
What is the revenue of Jefferson Economic Development Institute?
Jefferson Economic Development Institute's revenue in 2022 was $979,343.
Official website here: www.jedieconomy.org
Who are the executives of Jefferson Economic Development Institute and what are their salaries?
The average compensation at Jefferson Economic Development Institute during 2022 was $33,629. There are 16 employees and 20 volunteers at Jefferson Economic Development Institute.
Here are 4 key members and their salaries:
- Compensation: $88,097
- Related: $0
- Other: $2,643
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.jedieconomy.org
Where can I find the form 990 for Jefferson Economic Development Institute?
Jefferson Economic Development Institute's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.jedieconomy.org
Learn more at the official website: www.jedieconomy.org
Mission Statement of Jefferson Economic Development Institute
Jefferson Economic Development Institute, or JEDI, is dedicated to enhancing the economic prosperity of individuals and communities. This nonprofit organization achieves this mission by promoting business development and fostering local wealth creation. JEDI has been instrumental in addressing the underlying causes of rural poverty and economic stagnation since its inception in 1996. Over the years, it has supported more than 6,700 individuals in growing their businesses, resulting in the creation of 1,700 businesses and 700 jobs. Moreover, approximately 7.6 million dollars in financing have been provided to 70 successful businesses, further contributing to the economic growth of the communities served by JEDI.
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Impact
July, 2024
Jefferson Economic Development Institute has had a significant impact on the economic well-being of people and communities in the rural frontier region of far Northern California. Since 1996, JEDI has supported over 6,700 individuals in starting over 1,700 businesses, thereby creating new job opportunities in the area. Additionally, JEDI has facilitated financing of approximately 7.6 million dollars for these businesses, contributing to local wealth creation and economic development.
Furthermore, JEDI's efforts have helped low and moderate-income families thrive financially by assisting them in building sustainable businesses and assets. The organization's focus on serving rural communities is evident, with 100% of their beneficiaries coming from these areas. JEDI's commitment to empowering women entrepreneurs is also noteworthy, as 82% of the people they serve are women.
In addition to business development support, JEDI also manages the Mt. Shasta Farmers Market, providing a vital market outlet for local farmers and ranchers for the past 20 years. Moreover, as an IRS-sponsored Volunteer Income Tax Assistance (VITA) site, JEDI prepares approximately 600 free tax returns for seniors and low-income wage earners annually, further supporting financial stability in the community.
Overall, Jefferson Economic Development Institute's multifaceted approach to economic development, including business coaching, asset-building programs, and community economic development planning, has made a significant impact on the rural communities it serves, addressing the root causes of rural poverty and driving local economic growth.
This information is meant to be a general summary of Jefferson Economic Development Institute. 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.
- Program Service Revenue: $14,555
- Gross Receipts: $979,343
Assets and Liabilities:
- Total Assets: $287,420
- Total Liabilities: $99,462
- Net Assets: $187,958
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$14,555
Organization Details
Founding Year
1996
Phone
(530) 926-6670Principal Officer
Nancy Swift
Main Address
PO BOX 1586, MOUNT SHASTA, CA, 96067
Website
www.jedieconomy.orgNTEE Category
Code: S43 - Community improvement
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