Overview
What is Ward Economic Development Corporation?
Ward Economic Development Corporation, established in 1987 in accordance with California's general nonprofit corporation law, is a nonprofit organization situated in Los Angeles, California. Its primary mission is twofold: firstly, to identify and explore economic development opportunities within the city of Los Angeles; and secondly, to address the housing needs of the community by providing 91 units of low-income housing through Tuelyn Terrace and the operation and availability of additional affordable housing units at various scattered sites across the city. With a team of nine dedicated individuals, Ward Economic Development Corporation plays a significant role in supporting economic growth and providing affordable housing options for the residents of Los Angeles.
What are the reviews and ratings of this charity?
Charity Navigator rating: 84%, Three-Star out of Four Star rating.
The Ward Economic Development Corporation has received a solid score of 84%, indicating good performance in accountability and finance. This rating underscores the organization's commitment to transparency and responsible management of its resources. The charity boasts a fully independent board, which enhances its governance structure and ensures that decisions are made without conflicts of interest.
Strengths of the organization include a high program expense ratio of 87.89%, indicating that a significant portion of its budget is dedicated to its programs rather than administrative costs. Additionally, the organization has effectively implemented policies for document retention, conflict of interest, and has no reported issues regarding the diversion of assets, which speaks to its integrity and ethical governance.
However, the organization has room for improvement in its liabilities to assets ratio, currently sitting at 58.23%. While this is not alarming, it suggests that the organization may need to strengthen its financial position to ensure long-term sustainability. Overall, the Ward Economic Development Corporation demonstrates a strong commitment to accountable practices, though attention to financial ratios may enhance its stability.
This AI summary has been generated from information found on Charity Navigator.
Is Ward Economic Development Corporation legitimate?
Ward Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ward 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: $54,080
Professional Fundraising Fees: $0
Other Salaries and Wages: $98,581
For more financial information, click here
What is the mission statement of Ward Economic Development Corporation?
The Ward Economic Development Corporation, established in 1987, was incorporated with the purpose of identifying and pursuing economic development opportunities within a city, with the intention of fostering growth and development. One of its primary objectives is to provide 91 units of low-income housing through the operation of Tuelyn Terrace. Additionally, the corporation aims to make additional low-income affordable housing units available at various scattered sites within the city. The mission of Ward Economic Development Corporation is to contribute to the economic growth of a city while addressing the housing needs of its low-income residents.
Who is the CEO of Ward Economic Development Corporation?
Jacquelyn Dupont-Walker is the Chairperson of Ward Economic Development Corporation.
What is the revenue of Ward Economic Development Corporation?
Ward Economic Development Corporation's revenue in 2022 was $3,516,517.
Who are the executives of Ward Economic Development Corporation and what are their salaries?
The average compensation at Ward Economic Development Corporation during 2022 was $16,962. There are 9 employees and 950 volunteers at Ward Economic Development Corporation.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Ward Economic Development Corporation?
Ward Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ward Economic Development Corporation
Ward Economic Development Corporation, established in 1987, was incorporated under the General Nonprofit Corporation Law of California with a primary mission. This mission encompasses three key objectives. Firstly, the organization is committed to identifying and pursuing economic development opportunities within the city of Los Angeles. Secondly, Ward Economic Development Corporation operates Tuelyn Terrace, providing 91 units of low-income housing. Lastly, the corporation also strives to make additional low-income affordable housing units available at various scattered locations in Los Angeles. Essentially, Ward Economic Development Corporation's purpose is to contribute to the economic growth of its city while simultaneously addressing the housing needs of its low-income residents.
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Impact
July, 2024
Ward Economic Development Corporation has had a significant impact on the City of Los Angeles. Through its work in identifying and pursuing economic development opportunities, the organization has played a key role in fostering growth and prosperity within the community. Furthermore, the provision of 91 units of low-income housing at Truelyn Terrace and the availability of additional affordable housing units at various scattered sites have greatly contributed to addressing housing needs and improving the quality of life for low-income residents in Los Angeles. Ward Economic Development Corporation's initiatives align with its mission to promote economic development and provide essential housing solutions, making a tangible difference in the lives of many individuals and families in the city.
This information is meant to be a general summary of Ward 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: $314
- Program Service Revenue: $169,763
- Gross Receipts: $3,516,517
Assets and Liabilities:
- Total Assets: $7,530,319
- Total Liabilities: $4,385,237
- Net Assets: $3,145,082
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FISCAL AGENT FEES
Revenue
$139,763
MANAGEMENT FEES
Revenue
$30,000
Organization Details
Founding Year
1987
Phone
(213) 747-1188Principal Officer
Jacquelyn Dupont-Walker
Main Address
1177 WEST ADAMS BOULEVARD, LOS ANGELES, CA, 90007
NTEE Category
Code: S30 - Community improvement
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