Overview
What is Scarborough Economic Dev Corp?
Scarborough Economic Development Corporation (SEDCO) is a nonprofit organization based in Scarborough, Maine. Its mission is to foster economic and business growth within the town, aiming to enhance the quality of life by expanding the town's tax and employment base. In 2022/2023, SEDCO directly assisted 62 local and potential businesses and provided various forms of assistance to approximately 845 others. Their primary role is to encourage and aid in the physical location of businesses within Scarborough, contributing to the town's overall development and prosperity.
Official website here: www.sedcomaine.com
Is Scarborough Economic Dev Corp legitimate?
Scarborough Economic Dev Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Scarborough Economic Dev Corp 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: $145,126
Professional Fundraising Fees: $0
Other Salaries and Wages: $65,976
For more financial information, click here
Official website here: www.sedcomaine.com
What is the mission statement of Scarborough Economic Dev Corp?
The Scarborough Economic Development Corporation, often referred to as SEDCO, is dedicated to promoting economic and business growth. Its mission is to enhance the quality of life in the community by expanding the town's tax and employment base. To achieve this goal, SEDCO encourages and assists businesses in establishing themselves within the town. In the 2022/2023 period, directly assisted 62 local and potential local businesses, while providing various forms of assistance to approximately 845 others.
Official website here: www.sedcomaine.com
What is the revenue of Scarborough Economic Dev Corp?
Scarborough Economic Dev Corp's revenue in 2024 was $296,372.
Official website here: www.sedcomaine.com
Who are the executives of Scarborough Economic Dev Corp and what are their salaries?
The average compensation at Scarborough Economic Dev Corp during 2024 was $105,551. There are 2 employees and 2 volunteers at Scarborough Economic Dev Corp.
Here are 8 key members and their salaries:
- Compensation: $99,258
- Related: $0
- Other: $34,204
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.sedcomaine.com
Where can I find the form 990 for Scarborough Economic Dev Corp?
Scarborough Economic Dev Corp's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.sedcomaine.com
Learn more at the official website: www.sedcomaine.com
Mission Statement of Scarborough Economic Dev Corp
Scarborough Economic Dev Corp, a nonprofit organization, is committed to supporting economic and business development in Scarborough, Maine. Their mission is geared towards enhancing the town's quality of life by expanding its tax and employment base. The corporation achieves this by encouraging and assisting businesses to establish themselves within the town. In the 2022/2023 period, directly assisting 62 local and potential local businesses was a significant part of their efforts. Additionally, they provided various forms of assistance to approximately 845 other businesses, contributing to the overall economic growth and development of Scarborough.
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Impact
October, 2024
Scarborough Economic Development Corporation (SEDCO) significantly impacts the local economy and community in Scarborough, Maine. By focusing on economic and business development, SEDCO aims to enhance the quality of life for residents through the expansion of the town's tax and employment base.
In the recent fiscal year, SEDCO directly assisted 62 local and potential businesses, providing essential support that fosters growth and stability in the area. Additionally, around 845 businesses received various forms of assistance, expanding the reach and effectiveness of SEDCO's initiatives. This comprehensive support not only attracts new businesses but also retains and aids existing ones, ultimately strengthening Scarborough's economic landscape.
Through these efforts, SEDCO plays a pivotal role in nurturing a vibrant community, driving job creation, and enhancing overall prosperity within Scarborough.
This information is meant to be a general summary of Scarborough Economic Dev Corp. 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 2024.
- Investment Income: $50
- Gross Receipts: $296,372
Assets and Liabilities:
- Total Assets: $61,698
- Total Liabilities: $13,337
- Net Assets: $48,361
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Organization Details
Founding Year
1985
Principal Officer
Karen Martin
Website
www.sedcomaine.comNTEE Category
Code: S31Z - Community improvement
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