Overview
What is Housatonic Industrial Development Corp?
Housatonic Industrial Development Corp is a nonprofit organization situated in Danbury, Connecticut, specifically at 57 North Street 407. Its primary mission is to foster economic development within the state of Connecticut and support the growth and expansion of small businesses in the region. The organization accomplishes this by providing mortgage loans in collaboration with the Small Business Administration. Currently, approximately 52 companies are benefiting from these loan facilities. With a small workforce of two individuals, Housatonic Industrial Development Corp plays a significant role in promoting entrepreneurship and business expansion in its locality.
Is Housatonic Industrial Development Corp legitimate?
Housatonic Industrial Development Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. Housatonic Industrial 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $72,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $36,390
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What is the mission statement of Housatonic Industrial Development Corp?
The Housatonic Industrial Development Corp is an organization established with the mission to boost economic development within a specific region. Its primary focus is on assisting and promoting the growth of small businesses. To accomplish this, the corporation provides mortgage loans in conjunction with the Small Business Administration. At present, approximately 52 companies are benefiting from these initiatives. The organization's goal is to foster a thriving business environment and contribute to the overall economic development of the region.
Who is the CEO of Housatonic Industrial Development Corp?
Leonard Volpe Jr is the Executive Director of Housatonic Industrial Development Corp.
What is the revenue of Housatonic Industrial Development Corp?
Housatonic Industrial Development Corp's revenue in 2023 was $175,394.
Who are the executives of Housatonic Industrial Development Corp and what are their salaries?
The average compensation at Housatonic Industrial Development Corp during 2023 was $54,195. There are 2 employees at Housatonic Industrial Development Corp.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Housatonic Industrial Development Corp?
Housatonic Industrial Development Corp's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Housatonic Industrial Development Corp
Housatonic Industrial Development Corp, as an organization, is committed to fostering economic development in the state of Connecticut. Its primary mission is to support and aid the growth and development of small business concerns within the region. To achieve this, the corporation provides mortgage loans in collaboration with the Small Business Administration. Currently, approximately 52 companies are benefiting from these loan initiatives, aiming to promote the expansion of small businesses. The organization's activities are geared towards bolstering the local economy by nurturing the growth of small businesses, thereby contributing to the region's overall prosperity.
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Impact
October, 2024
Housatonic Industrial Development Corp significantly impacts the economic landscape of Danbury, Connecticut, by facilitating mortgage loans that foster the growth of small businesses. In collaboration with the Small Business Administration, it currently supports approximately 52 companies, enhancing their capacity to thrive and contribute to the local economy. The organization's commitment to economic development is pivotal in promoting business growth, which in turn generates jobs and stimulates community improvement throughout the region. By empowering small businesses, Housatonic Industrial Development Corp plays a critical role in advancing the overall economic vitality of Connecticut.
This information is meant to be a general summary of Housatonic Industrial 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 2023.
- Investment Income: $124
- Program Service Revenue: $175,270
- Gross Receipts: $175,394
Assets and Liabilities:
- Total Assets: $194,715
- Total Liabilities: $12,000
- Net Assets: $182,715
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE CHARGES
Revenue
$99,308
LOAN PROCESSING FEES
Revenue
$38,238
INTEREST ON MORTGAGES
Revenue
$28,359
MANAGEMENT ASSISTANCE
Revenue
$9,365
Organization Details
Founding Year
1969
Phone
(203) 743-0306Principal Officer
Leonard Volpe Jr
Main Address
57 NORTH STREET 407, DANBURY, CT, 06810
NTEE Category
Code: S31 - Community improvement
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