Overview
What is Greater Minnesota Community Development Corporation?
Greater Minnesota Community Development Corporation is a nonprofit organization that provides financial assistance to businesses struggling to secure conventional financing. They specialize in offering low-interest loans, aiming to bridge the gap for small businesses in need. Moreover, they extend their support to minority-owned businesses, ensuring equitable opportunities in the business sector. Their primary activity revolves around making and managing these loans, ultimately fostering economic growth and development within the Greater Minnesota community.
Is Greater Minnesota Community Development Corporation legitimate?
Greater Minnesota Community Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Minnesota Community Development Corporation submitted a form 990EZ, 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.
What is the mission statement of Greater Minnesota Community Development Corporation?
The Greater Minnesota Community Development Corporation's mission is to extend financial aid to businesses that struggle to secure conventional financing. The organization also offers loans to support minority-owned businesses. Their work primarily involves providing low-interest loans, assisting in their making and servicing, to help small businesses thrive. This nonprofit corporation aims to contribute positively to the economic development of the communities it serves.
Who is the CEO of Greater Minnesota Community Development Corporation?
Loren Lusignan is the Treasurer of Greater Minnesota Community Development Corporation.
What is the revenue of Greater Minnesota Community Development Corporation?
Greater Minnesota Community Development Corporation's revenue in 2022 was $838.
Who are the executives of Greater Minnesota Community Development Corporation and what are their salaries?
Here are 12 key members and their salaries:
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Where can I find the form 990EZ for Greater Minnesota Community Development Corporation?
Greater Minnesota Community Development Corporation's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Greater Minnesota Community Development Corporation
Greater Minnesota Community Development Corporation, as a nonprofit organization, is committed to extending financial assistance to businesses that struggle to secure conventional financing. This is achieved through the provision of low-interest loans. Moreover, the corporation demonstrates its support for minority-owned businesses by offering them similar loan opportunities. The organization's programs are centered around making and servicing these loans, thereby empowering small businesses in their growth and development.
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Impact
October, 2024
Greater Minnesota Community Development Corporation significantly impacts local economies by extending financial support to businesses that struggle to obtain conventional financing. By offering low-interest loans specifically tailored for small enterprises, it empowers entrepreneurs, particularly those from minority backgrounds, to thrive in the competitive business landscape. Through these financial resources, it fosters job creation, encourages economic growth, and supports community improvement initiatives. The focus on serving underrepresented business owners not only strengthens individual businesses but also contributes to a more diverse and resilient economic environment in the region.
This information is meant to be a general summary of Greater Minnesota Community 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 2022.
- Investment Income: $838
- Gross Receipts: $838
Assets and Liabilities:
- Total Assets: $76,834
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- Net Assets: $76,834
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Organization Details
Phone
(218) 528-3258Principal Officer
Loren Lusignan
Main Address
312 NORTH MAIN STREET, BADGER, MN, 56714
NTEE Category
Code: S31 - Community improvement
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