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Upper Manhattan Empowerment Zone Development Corporation
The Upper Manhattan Empowerment Zone Development Corp., also referred to as UMEZ, is a non-profit organization that seeks to revitalize economically deprived communities by using public funds and tax incentives as catalysts for private investment. UMEZ’s mission is to sustain the economic revitalization of all communities of Upper Manhattan through job creation, corporate alliances, strategic investments and small business assistance. History Upper Manhattan was designated as an urban empowerment zone (Empowerment Zone) under federal legislation authored by Congressman Charles B. Rangel and signed into law by President Bill Clinton in 1994. The Upper Manhattan Empowerment Zone Development Corporation (UMEZ), which is an independent not-for-profit corporation, was formed in response to the federal empowerment zone legislation. Funding for UMEZ is provided by the federal government with matching amounts from the City of New York and the State of New York. UMEZ’s ongoing operat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-profit Organization
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners. A nonprofit is subject to the non-distribution constraint: any revenues that exceed expenses must be committed to the organization's purpose, not taken by private parties. An array of organizations are nonprofit, including some political organizations, schools, business associations, churches, social clubs, and consumer cooperatives. Nonprofit entities may seek approval from governments to be tax-exempt, and some may also qualify to receive tax-deductible contributions, but an entity may incorporate as a nonprofit entity without securing tax-exempt status. Key aspects of nonprofits are accountability, trustworthiness, honesty, and openness to eve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Funds
Government spending or expenditure includes all government consumption, investment, and transfer payments. In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure. Government acquisition of goods and services intended to create future benefits, such as infrastructure investment or research spending, is classed as government investment (government gross capital formation). These two types of government spending, on final consumption and on gross capital formation, together constitute one of the major components of gross domestic product. Government spending can be financed by government borrowing, taxes, custom duties, the sale or lease of natural resources, and various fees like national park entry fees or licensing fees. When Governments choose to borrow money, they have to pay interest on the money borrow ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Incentives
A tax incentive is an aspect of a government's taxation policy designed to incentivize or encourage a particular economic activity by reducing tax payments. Tax incentives can have both positive and negative impacts on an economy. Among the positive benefits, if implemented and designed properly, tax incentives can attract investment to a country. Other benefits of tax incentives include increased employment, higher number of capital transfers, research and technology development, and also improvement to less developed areas. Though it is difficult to estimate the effects of tax incentives, they can, if done properly, raise the overall economic welfare through increasing economic growth and government tax revenue (after the expiration of the tax holiday/incentive period). However, tax incentive can cause negative effects on a government's financial condition, among other negative effects, if they are not properly designed and implemented. There are four typical costs to tax incen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Upper Manhattan
Upper Manhattan is the most northern region of the New York City borough of Manhattan. Its southern boundary has been variously defined, but some of the most common usages are 96th Street, the northern boundary of Central Park ( 110th Street), 125th Street, or 155th Street. The term Uptown can refer to Upper Manhattan, but is often used more generally for neighborhoods above 59th Street; in the broader definition, Uptown encompasses Upper Manhattan. Upper Manhattan is generally taken to include the neighborhoods of Marble Hill, Inwood, Washington Heights (including Fort George, Sherman Creek and Hudson Heights), Harlem (including Sugar Hill, Hamilton Heights and Manhattanville), East Harlem, Morningside Heights, and Manhattan Valley (in the Upper West Side). The George Washington Bridge connects Washington Heights in Upper Manhattan across the Hudson River to Fort Lee, New Jersey, and is the world's busiest motor vehicle bridge. In the late 19th century, the IRT Ninth ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Organizations Based In Manhattan
An organization or organisation (Commonwealth English; see spelling differences), is an entity—such as a company, an institution, or an association—comprising one or more people and having a particular purpose. The word is derived from the Greek word ''organon'', which means tool or instrument, musical instrument, and organ. Types There are a variety of legal types of organizations, including corporations, governments, non-governmental organizations, political organizations, international organizations, armed forces, charities, not-for-profit corporations, partnerships, cooperatives, and educational institutions, etc. A hybrid organization is a body that operates in both the public sector and the private sector simultaneously, fulfilling public duties and developing commercial market activities. A voluntary association is an organization consisting of volunteers. Such organizations may be able to operate without legal formalities, depending on jurisdiction, including ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
