Overview
What is South Eastern Economic Development Corporation?
The South Eastern Economic Development Corporation, established in 1982, is a certified nonprofit organization situated in Taunton, Massachusetts. Their primary mission is to support small businesses in Massachusetts and Rhode Island, helping them to initiate, expand, and generate new employment opportunities. Certified by the U.S. SBA, they specialize in packaging and servicing SBA 504 loans. Beyond this, they also lend money as a Community Development Financial Institution (CDFI) under the U.S. Department of the Treasury and the U.S. Department of Commerce's EDA, and serve as an SBA micro lender. Additionally, they provide technical assistance to aid small businesses in their growth journey. With a team of 13 dedicated professionals, the South Eastern Economic Development Corporation is committed to fostering economic development in the region.
Official website here: www.seedcorp.com
Is South Eastern Economic Development Corporation legitimate?
South Eastern Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. South Eastern 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:
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Other Salaries and Wages: $1,779,080
For more financial information, click here
Official website here: www.seedcorp.com
What is the mission statement of South Eastern Economic Development Corporation?
The South Eastern Economic Development Corporation (SEED) is committed to assisting small businesses in their growth, helping them to establish, expand, and create new job opportunities. This mission was recognized in 1982 when SEED was certified by the U.S. SBA to package SBA 504 loans. Apart from this, SEED also provides loans as a CDFI under the U.S. Department of the Treasury, the EDA U.S. Department of Commerce, and acts as an SBA micro lender. Additionally, SEED offers technical assistance to support these small businesses in Massachusetts and Rhode Island, specifically through the SBA 504 Program. This program involves the packaging, closing, and servicing of SBA 504 loans to small businesses in these regions.
Official website here: www.seedcorp.com
What is the revenue of South Eastern Economic Development Corporation?
South Eastern Economic Development Corporation's revenue in 2024 was $4,521,283.
Official website here: www.seedcorp.com
Who are the executives of South Eastern Economic Development Corporation and what are their salaries?
The average compensation at South Eastern Economic Development Corporation during 2024 was $118,605. There are 15 employees and 53 volunteers at South Eastern Economic Development Corporation.
Here are 38 key members and their salaries:
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Official website here: www.seedcorp.com
Where can I find the form 990 for South Eastern Economic Development Corporation?
South Eastern Economic Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.seedcorp.com
Learn more at the official website: www.seedcorp.com
Mission Statement of South Eastern Economic Development Corporation
The South Eastern Economic Development Corporation (SEED) is dedicated to assisting small businesses in their growth and job creation endeavors. Established in 1982, SEED was certified by the U.S. Small Business Administration (SBA) to package SBA 500 loans. Beyond SBA 504 loans, SEED also extends financing as a Community Development Financial Institution (CDFI) under the U.S. Department of Treasury and the U.S. Department of Commerce's EDA, and serves as an SBA micro lender. Additionally, SEED provides technical assistance to further support small businesses in Massachusetts and Rhode Island. In summary, the mission of the South Eastern Economic Development Corporation is to empower small businesses, facilitating their start-up, expansion, and creation of new job opportunities through various financing and advisory services.
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Impact
October, 2024
The South Eastern Economic Development Corporation (SEED) plays a crucial role in fostering economic growth by assisting small businesses in their development and expansion efforts. By providing access to capital through SBA 504 loans, SEED enables startups and existing businesses to secure the necessary funding to create new jobs and fuel local economies in Massachusetts and Rhode Island.
SEED's services include packaging, closing, and servicing these loans, ensuring that small businesses receive the support they need to navigate the complexities of obtaining funding. Additionally, as a Certified Development Financial Institution (CDFI) and SBA micro-lender, SEED further extends financial assistance to underserved communities, promoting inclusive economic development.
The technical assistance offered by SEED helps entrepreneurs strategize, plan, and implement effective business operations, which enhances their chances of success. Through its efforts, SEED not only supports individual business growth but also contributes to broader community improvement, enhancing job opportunities and economic resilience in the region.
This information is meant to be a general summary of South Eastern 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 2024.
- Investment Income: $176,390
- Program Service Revenue: $2,060,585
- Gross Receipts: $4,521,283
Assets and Liabilities:
- Total Assets: $21,191,120
- Total Liabilities: $3,903,991
- Net Assets: $17,287,129
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROCESS, SERVICE AND PACKAGE
Revenue
$1,120,585
INTEREST ON LOANS
Revenue
$940,000
Organization Details
Founding Year
1982
Principal Officer
Susan Murray
Website
www.seedcorp.comNTEE Category
Code: S30 - Community improvement
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