Overview
What is Regional Economic Development And Energy Corporation?
The Regional Economic Development and Energy Corporation, based in Painted Post, New York, serves as a nonprofit organization with a primary mission to offer low-interest loans for economic development and energy projects. Situated in Chemung, Schuyler, and Steuben counties, the corporation's lending capability aims to respond fully to the region's needs and align with its objectives. With a focus on businesses in these areas, the corporation bridges the gap where conventional financing falls short, ultimately contributing to the economic growth and development of the region. The organization's workforce consists of three dedicated individuals, demonstrating its commitment to supporting local businesses. By providing accessible and tailored financing solutions, the Regional Economic Development and Energy Corporation plays a crucial role in fostering growth, innovation, and sustainability in its service area.
Official website here: www.redec.us
Is Regional Economic Development And Energy Corporation legitimate?
Regional Economic Development And Energy Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Regional Economic Development And Energy 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: $9,548
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.redec.us
What is the mission statement of Regional Economic Development And Energy Corporation?
The Regional Economic Development and Energy Corporation's mission is centered around providing economic development lending capabilities for businesses in specific counties. This mission aligns with the needs of the region and the objectives of the corporation. The organization offers and manages low-interest loans for economic development and energy projects, addressing financing gaps that conventional methods cannot meet. Their primary goal is to support local businesses and contribute positively to the economic growth of the community.
Official website here: www.redec.us
Who is the CEO of Regional Economic Development And Energy Corporation?
George E Miner is the Director (Part Year) of Regional Economic Development And Energy Corporation.
Official website here: www.redec.us
What is the revenue of Regional Economic Development And Energy Corporation?
Regional Economic Development And Energy Corporation's revenue in 2022 was $92,142.
Official website here: www.redec.us
Who are the executives of Regional Economic Development And Energy Corporation and what are their salaries?
The average compensation at Regional Economic Development And Energy Corporation during 2022 was $3,183. There are 3 employees and 25 volunteers at Regional Economic Development And Energy Corporation.
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- Compensation: $92,331
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- Other: $5,077
Official website here: www.redec.us
Where can I find the form 990 for Regional Economic Development And Energy Corporation?
Regional Economic Development And Energy 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 Regional Economic Development And Energy Corporation
The Regional Economic Development and Energy Corporation, as an organization, is committed to fulfilling its mission of providing economic development lending capabilities for businesses in Chemung, Schuyler, and Steuben counties. This mission is designed to align with the needs of the region and the objectives of the corporation. The corporation aims to offer and administer low-interest loans for economic development and energy projects, stepping in where conventional financing falls short of meeting an applicant's needs. By providing this service, the Regional Economic Development and Energy Corporation plays a crucial role in supporting local businesses in these three counties, contributing to the overall economic growth and development of the region.
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Impact
October, 2024
Regional Economic Development and Energy Corporation (REDAC) significantly enhances the economic landscape in Chemung, Schuyler, and Steuben Counties by providing essential financial support to local businesses. By offering and administering low-interest loans specifically targeted at economic development and energy projects, REDAC addresses financing gaps that traditional lenders may overlook.
This targeted funding capability not only aids in the growth and sustainability of local enterprises but also fosters job creation and community improvement. As businesses gain access to the necessary capital, they can invest in expansion, innovation, and energy efficiency, ultimately contributing to a more resilient local economy. REDAC’s efforts align closely with regional needs, positioning itself as a crucial player in the economic development ecosystem of the area.
This information is meant to be a general summary of Regional Economic Development And Energy 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: $105
- Program Service Revenue: $69,850
- Gross Receipts: $92,142
Assets and Liabilities:
- Total Assets: $2,213,381
- Total Liabilities: $205,483
- Net Assets: $2,007,898
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST & FEES ON LOA
Revenue
$69,850
Organization Details
Founding Year
1980
Phone
(607) 962-3021Principal Officer
George E Miner
Main Address
109 CANADA ROAD 150, PAINTED POST, NY, 14870
Website
www.redec.usNTEE Category
Code: S30Z - Community improvement
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