Overview
What is Warren County Local Development Corp?
Warren County Local Development Corp (WCLDC) is a nonprofit organization based in Lake George, New York, with a mission to assist low-income homeowners and provide loans to small businesses employing low to moderate income individuals. In 2022, due to more favorable funding sources, fewer applications were received for their loans. However, they met with six businesses seeking funding, recommendations, networking opportunities, or introductions. The WCLDC paid off three loans, wrote off two as uncollectible, and settled one for partial payment. They also offered startup classes in collaboration with SUNY Adirondack and Washington County LDC. In 2023, discussions are being held to potentially use WCLDC funds to meet evolving community needs in areas such as pre-development housing funds, land banks, critical repairs, childcare, workforce training, and other means to support the business and general community.
Is Warren County Local Development Corp legitimate?
Warren County Local Development Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. Warren County Local Development 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.
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What is the mission statement of Warren County Local Development Corp?
The Warren County Local Development Corp's mission is centered around creating new job opportunities and preserving existing ones. This is achieved through supplemental financing, such as gap financing or acting as a lender of last resort. The corporation also aims to broaden the local tax base and provides funding necessary to attract private sector investments. Additionally, the organization offers assistance to make financing mechanisms available for improvements and upgrades to low to moderate income households in Warren County. The primary goal is to stimulate economic growth and improve living conditions for this demographic.
Who is the CEO of Warren County Local Development Corp?
Diane Dumouchel is the Chief Financial Officer of Warren County Local Development Corp. The CEO's salary of Warren County Local Development Corp is $0 and their total compensation is $0.
What is the revenue of Warren County Local Development Corp?
Warren County Local Development Corp's revenue in 2022 was $70,364.
Who are the executives of Warren County Local Development Corp and what are their salaries?
Here are 9 key members and their salaries (Warren County Local Development Corp's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990 for Warren County Local Development Corp?
Warren County Local Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Warren County Local Development Corp
Warren County Local Development Corp, as a nonprofit organization, is committed to providing assistance to low-income homeowners and loans to small businesses that employ low to middle-income individuals. The primary purpose of this corporation is to stimulate job creation, preserve existing employment opportunities, and expand the local tax base. They achieve this by offering supplemental financing, such as gap financing or acting as a lender of last resort. Additionally, Warren County Local Development Corp leverages private sector investments and provides funding mechanisms to facilitate improvements and upgrades for low to moderate-income households in the area. In essence, the organization's mission is to foster economic growth and improve living conditions for the local community's less fortunate residents.
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Impact
October, 2024
Warren County Local Development Corp (WCLDC) plays a pivotal role in enhancing community welfare and economic development in the region. By providing home site assistance and loans to small businesses, WCLDC focuses on supporting low to moderate-income homeowners and creating job opportunities for individuals in these income brackets.
Through its initiatives, the WCLDC seeks to address housing challenges for low-income families, offering vital support for home improvements and fostering stability within the community. In 2022, despite increased competition from other funding sources, the organization engaged with multiple small businesses, providing critical guidance on funding options, startup recommendations, and networking opportunities. The collaboration with educational institutions, such as SUNY Adirondack, through the startup program, also demonstrates WCLDC's commitment to nurturing entrepreneurial talent in the community.
The organization’s efforts are not just limited to financial assistance; it is also actively exploring ways to adapt its strategies to meet evolving community needs. Topics of discussion have included pre-development housing funds, critical repairs, and workforce training, ensuring that WCLDC remains responsive to local challenges and opportunities.
Overall, the impact of WCLDC is seen in its dedication to job creation, housing improvement, and broadening the local tax base, ultimately strengthening the economic foundation of Warren County.
This information is meant to be a general summary of Warren County Local Development 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 2022.
- Investment Income: $5,826
- Program Service Revenue: $14,538
- Gross Receipts: $70,364
Assets and Liabilities:
- Total Assets: $1,536,460
- Total Liabilities: $0
- Net Assets: $1,536,460
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST AND FEES ON L
Revenue
$14,097
PROGRAM SERVICE FEES
Revenue
$441
Organization Details
Founding Year
1986
Phone
(518) 761-6410Principal Officer
Diane Dumouchel
Main Address
1340 STATE ROUTE 9, LAKE GEORGE, NY, 12845
NTEE Category
Code: S30 - Community improvement
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