Overview
What is St Marys Area Economic Development Corporation?
St. Marys Area Economic Development Corporation is a nonprofit organization situated in St. Marys, Pennsylvania, with a single employee. Its primary mission is to foster and sustain economic growth within the St. Marys service region. To achieve this, the corporation provides financial assistance to local businesses and industries, offering low-interest loans through its revolving loan fund. This initiative aims to encourage business expansion and creation of new jobs, contributing to the economic development of the area. The corporation also serves as an intermediary for federal, state, and local governments, facilitating the distribution of expansion grant funds to eligible area businesses through an exempt flow-through entity. In total, these programs support approximately 30,000 individuals in the St. Marys area.
Is St Marys Area Economic Development Corporation legitimate?
St Marys Area Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. St Marys Area Economic Development 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: $16,450
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of St Marys Area Economic Development Corporation?
St. Marys Area Economic Development Corporation's mission is centered around promoting and sustaining economic development within its service region. The organization aims to assist local businesses and industries by providing them with financial means to grow and sustain their operations. This is achieved through low-interest loan programs, which are designed to promote economic growth within the community and create new job opportunities. In addition, St. Marys Area Economic Development Corporation serves as an exempt flow-through entity for federal, state, and local governments, facilitating the distribution of expansion grant funds to area businesses. These initiatives collectively serve approximately 30,000 people in the region.
Who is the CEO of St Marys Area Economic Development Corporation?
Valerie J Weis is the Executive Director of St Marys Area Economic Development Corporation.
What is the revenue of St Marys Area Economic Development Corporation?
St Marys Area Economic Development Corporation's revenue in 2020 was $42,787.
Who are the executives of St Marys Area Economic Development Corporation and what are their salaries?
The average compensation at St Marys Area Economic Development Corporation during 2020 was $16,450. There is 1 employee at St Marys Area Economic Development Corporation.
Here are 10 key members and their salaries:
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Where can I find the form 990 for St Marys Area Economic Development Corporation?
St Marys Area Economic Development Corporation's most recent form 990 was submitted in 2020 and can be accessed here.
Mission Statement of St Marys Area Economic Development Corporation
St. Marys Area Economic Development Corporation, abbreviated as EDC, is dedicated to fostering and sustaining economic growth within its service region. The organization's mission is to assist local businesses and industries in the St. Marys area by aiding them financially to expand and maintain their operations. To achieve this goal, St. Marys Area Economic Development Corporation offers low-interest loan programs, designed to stimulate economic growth within the broader community. By providing these loans, the EDC assists businesses that wish to expand or establish themselves in the area, thereby increasing the job market and creating new employment opportunities. In addition, the EDC acts as an exempt flow-through entity for federal, state, and local governments, facilitating the distribution of expansion grant funds to area businesses, thereby further supporting business growth. These initiatives collectively serve approximately 30,000 people within the area, contributing to the overall economic development of the region.
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Impact
August, 2024
St Marys Area Economic Development Corporation plays a crucial role in promoting and sustaining economic development in the St. Marys, PA service region. Through their initiatives, they encourage economic growth, assist businesses in expanding or establishing themselves in the area, and work towards expanding the job base while creating new employment opportunities. The organization operates a revolving loan fund that provides low-cost loans to businesses looking to grow or set up operations in the area. Additionally, they serve as a facilitator for the distribution of expansion grant funds from federal, state, and local governments to area businesses. Their programs impact approximately 30,000 people in the area, contributing significantly to the community improvement and overall economic well-being of the region.
This information is meant to be a general summary of St Marys Area Economic 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 2020.
- Investment Income: $14,800
- Program Service Revenue: $12,618
- Gross Receipts: $42,787
Assets and Liabilities:
- Total Assets: $1,020,224
- Total Liabilities: $2,898
- Net Assets: $1,017,326
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN ADMINISTRATION &
Revenue
$12,618
Organization Details
Founding Year
1985
Phone
(814) 834-2125Principal Officer
Valerie J Weis
Main Address
32 SOUTH ST MARYS STREET NO 4, ST MARYS, PA, 15857
NTEE Category
Code: S30 - Community improvement
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