Overview
What is Redec Relending Corporation?
Redec Relending Corporation is a nonprofit organization situated in Painted Post, New York, specifically at 109 Canada Road 150. Their primary mission is to support economic development by offering low-interest loans to businesses in Chemung, Schuyler, Steuben, and Tioga Counties. This initiative is vital as conventional financing often falls short of meeting the needs of these applicants. The organization's mission aligns fully with the region's requirements and the objectives of the corporation, thereby playing a crucial role in local economic growth.
Official website here: www.redec.us
Is Redec Relending Corporation legitimate?
Redec Relending Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Redec Relending 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: $90,649
Professional Fundraising Fees: $0
Other Salaries and Wages: $116,481
For more financial information, click here
Official website here: www.redec.us
What is the mission statement of Redec Relending Corporation?
Redec Relending Corporation's mission is centered around providing economic development lending capabilities to businesses in specific regions. This mission is intended to fully respond to the needs of the community and align with the objectives of the corporation. The organization offers and manages low-interest loans for economic development projects, addressing financing gaps that conventional sources cannot cover. This mission aims to stimulate economic growth and development in the areas of Chemung, Schuyler, Steuben, and Tioga counties.
Official website here: www.redec.us
Who is the CEO of Redec Relending Corporation?
George E Miner is the Director (Part Year) of Redec Relending Corporation.
Official website here: www.redec.us
What is the revenue of Redec Relending Corporation?
Redec Relending Corporation's revenue in 2022 was $400,791.
Official website here: www.redec.us
Who are the executives of Redec Relending Corporation and what are their salaries?
There 25 volunteers at Redec Relending Corporation.
Here are 26 key members and their salaries:
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- Related: $92,331
- Other: $5,077
Official website here: www.redec.us
Where can I find the form 990 for Redec Relending Corporation?
Redec Relending Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.redec.us
Learn more at the official website: www.redec.us
Mission Statement of Redec Relending Corporation
Redec Relending Corporation, in its mission, is dedicated to providing economic development lending capabilities for businesses within Chemung, Schuyler, Steuben, and Tioga counties. This mission aligns with the needs of the region and the objectives of the corporation, aiming to fill any financing gaps that conventional lending may miss. The organization offers and manages low-interest loans for economic development projects, ensuring that all applicants receive the necessary financial support to succeed. By fulfilling this role, Redec Relending Corporation significantly contributes to the growth and prosperity of local businesses, ultimately fostering a stronger and more vibrant economy.
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Impact
October, 2024
Redec Relending Corporation plays a crucial role in fostering economic development across Chemung, Schuyler, Steuben, and Tioga Counties. By offering and administering low-interest loans, the organization addresses financing gaps for businesses that traditional lending institutions may overlook. This financial support enables local enterprises to undertake projects that enhance their operations, create jobs, and stimulate regional economic growth.
The corporation directly caters to the needs of the community, ensuring that businesses have the necessary resources to thrive and adapt in a competitive landscape. Through its efforts, Redec Relending Corporation contributes to the overall improvement of the region, promoting sustainability and economic resilience. The impact of its lending activities can be seen in the revitalization of local economies, as businesses expand, innovate, and succeed, positively affecting the lives of residents in these counties.
This information is meant to be a general summary of Redec Relending 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: $7,744
- Program Service Revenue: $154,346
- Gross Receipts: $400,791
Assets and Liabilities:
- Total Assets: $1,860,719
- Total Liabilities: $1,191,770
- Net Assets: $668,949
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LATE FEES & ADMINISTRA
Revenue
$93,523
INTEREST & FEES ON LOA
Revenue
$60,823
Organization Details
Founding Year
1993
Phone
(607) 962-3021Principal Officer
George E Miner
Main Address
109 CANADA ROAD 150, PAINTED POST, NY, 14870
Website
www.redec.usNTEE Category
Code: S31Z - Community improvement
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