Overview
What is Downtown Stockton Enterprise Loan Fund?
The Downtown Stockton Enterprise Loan Fund is a community-driven initiative based in Stockton, California, specifically in its economically challenged central downtown core area. This nonprofit's primary goal is to establish and manage a Community Development Entity (CDE), offering loans to small and mid-sized businesses that are actively growing within the area. The purpose is to support and retain these businesses in Downtown Stockton, fostering economic redevelopment through its loan provisions. The fund aims to contribute to the city's revitalization, ultimately benefiting the local community.
Is Downtown Stockton Enterprise Loan Fund legitimate?
Downtown Stockton Enterprise Loan Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Downtown Stockton Enterprise Loan Fund 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 Downtown Stockton Enterprise Loan Fund?
The Downtown Stockton Enterprise Loan Fund's mission is centered around establishing and managing a Community Development Entity (CDE). This entity provides loans to small and medium-sized businesses in the growth phase, primarily situated in the revitalization zone of an economically challenged city. The fundamental objective of the fund is to stimulate economic redevelopment within this area by motivating these businesses to maintain their presence in the downtown sector. By offering financial assistance, the fund contributes to the overall revitalization and prosperity of the city's central core.
Who is the CEO of Downtown Stockton Enterprise Loan Fund?
Michael Huber is the Ceo of Downtown Stockton Enterprise Loan Fund. The CEO's salary of Downtown Stockton Enterprise Loan Fund is $0 and their total compensation is $0.
What is the revenue of Downtown Stockton Enterprise Loan Fund?
Downtown Stockton Enterprise Loan Fund's revenue in 2022 was $896.
Who are the executives of Downtown Stockton Enterprise Loan Fund and what are their salaries?
Here are 10 key members and their salaries (Downtown Stockton Enterprise Loan Fund's CEO's salary is $0 and their total compensation is $0):
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Where can I find the form 990EZ for Downtown Stockton Enterprise Loan Fund?
Downtown Stockton Enterprise Loan Fund's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Downtown Stockton Enterprise Loan Fund
The Downtown Stockton Enterprise Loan Fund's mission is to establish and manage a Community Development Entity (CDE) with the primary objective of providing loans to small and medium-sized businesses within the central downtown area of a economically deprived city, Stockton, California. The main goal of this nonprofit organization is to encourage these businesses to maintain their presence in Downtown Stockton, thereby contributing to its economic redevelopment. By offering loan provisions, the Downtown Stockton Enterprise Loan Fund aims to stimulate growth and sustainability within the local business community, ultimately fostering a more prosperous and vibrant downtown sector.
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Impact
October, 2024
The Downtown Stockton Enterprise Loan Fund has a significant impact on the economic landscape of Stockton, California, particularly in its central downtown area. By providing essential financing to small and mid-sized businesses, the Fund fosters entrepreneurship and supports local economic growth in a region facing economic challenges.
Through its role as a Community Development Entity (CDE), the Fund not only offers loans but also actively encourages businesses to establish or expand their operations in Downtown Stockton. This effort combats the decline of commercial activity in the area, aiming to revitalize the community and enhance its overall appeal.
As these businesses grow and thrive, they create jobs, increase foot traffic, and stimulate local spending, leading to a more vibrant downtown environment. The focus on economic redevelopment promotes community improvement, helping to transform Stockton into a more prosperous and economically stable city. The continued operation of the Downtown Stockton Enterprise Loan Fund is pivotal in maintaining this momentum and ensuring that the community sees tangible benefits from its investment in local businesses.
This information is meant to be a general summary of Downtown Stockton Enterprise Loan Fund. 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: $237
- Program Service Revenue: $659
- Gross Receipts: $896
Assets and Liabilities:
- Total Assets: $215,280
- Total Liabilities: $0
- Net Assets: $215,280
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Organization Details
Phone
(209) 464-5246Principal Officer
Michael Huber
Main Address
110 N San Joaquin Street 5th Floor, Stockton, CA, 95202
NTEE Category
Code: S20 - Community improvement
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