Overview
What is Rapid City Economic Development Foundation?
The Rapid City Economic Development Foundation is a nonprofit organization situated in Rapid City, South Dakota (PO Box 747). Its primary objective is to enhance the quality of life and boost personal income levels in the Rapid City area by fostering a thriving business environment. The foundation achieves this by attracting quality primary jobs, which contribute new wealth to the community. Its focus areas include manufacturing, processing, and service exporting industries. Additionally, the foundation supports local companies in expanding and retaining jobs by leasing space to new and growing businesses in the area, thereby promoting entrepreneurship.
Is Rapid City Economic Development Foundation legitimate?
Rapid City Economic Development Foundation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Rapid City Economic Development Foundation 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:
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Other Salaries and Wages: $0
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What is the mission statement of Rapid City Economic Development Foundation?
The Rapid City Economic Development Foundation's mission is centered around enhancing the quality of life and boosting personal income levels in a specific area. They achieve this goal by fostering a thriving business environment that generates new job opportunities and attracts innovative businesses. The foundation is particularly interested in attracting primary job sectors, such as manufacturing, processing, and service exporting industries, which contribute significantly to the local economy. Additionally, the foundation supports existing businesses by helping them expand and retain jobs, contributing to the overall economic growth of the community. The foundation's revenue is primarily derived from leasing space to new and growing businesses in the area.
Who is the CEO of Rapid City Economic Development Foundation?
Tom Johnson is the Chair of Rapid City Economic Development Foundation. The CEO's salary of Rapid City Economic Development Foundation is $0 and their total compensation is $311,467.
What is the revenue of Rapid City Economic Development Foundation?
Rapid City Economic Development Foundation's revenue in 2022 was $2,494,984.
Who are the executives of Rapid City Economic Development Foundation and what are their salaries?
There 12 volunteers at Rapid City Economic Development Foundation.
Here are 13 key members and their salaries (Rapid City Economic Development Foundation's CEO's salary is $0 and their total compensation is $311,467):
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- Related: $276,789
- Other: $34,678
Where can I find the form 990 for Rapid City Economic Development Foundation?
Rapid City Economic Development Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Rapid City Economic Development Foundation
Rapid City Economic Development Foundation, a prominent organization, is committed to enhancing the quality of life and boosting personal income levels in the Rapid City area. They achieve this by fostering a vibrant business environment that generates high-quality new job opportunities, attracts new businesses, supports existing companies, and promotes entrepreneurship. The foundation's primary objective is to attract primary jobs, those that bring new wealth into the community, specifically focusing on manufacturing, processing, and service exporting industries. In addition to this, the foundation also assists local businesses in expanding and retaining existing job positions by providing them with necessary resources and leasing space in the area.
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Impact
October, 2024
The Rapid City Economic Development Foundation significantly enhances the quality of life and personal income levels in the Rapid City area by fostering a dynamic business environment. By attracting quality primary jobs—those that bring new wealth into the community—the Foundation plays a critical role in economic growth.
Its focused initiatives aim to draw in manufacturing, processing, and service-exporting industries, contributing to a diverse and resilient job market. Additionally, the Foundation actively supports local companies in their expansion efforts and helps retain existing jobs, ensuring stability within the community. Revenue generated from leasing space to new and growing businesses further supports these initiatives, enabling a continuous cycle of economic development and entrepreneurship. Overall, the Foundation's impact is marked by a stronger local economy, improved job opportunities, and a higher standard of living for the residents of Rapid City.
This information is meant to be a general summary of Rapid City Economic Development Foundation. 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: $2,199,401
- Program Service Revenue: $295,557
- Gross Receipts: $5,545,584
Assets and Liabilities:
- Total Assets: $15,961,561
- Total Liabilities: $3,944,972
- Net Assets: $12,016,589
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BUILDING LEASE
Revenue
$295,557
Organization Details
Founding Year
1973
Phone
(605) 343-1744Principal Officer
Tom Johnson
Main Address
PO BOX 747, RAPID CITY, SD, 57709
NTEE Category
Code: S30 - Community improvement
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