Overview
What is Morgan County Improvement Corporation?
The Morgan County Improvement Corporation is a nonprofit organization based in McConnelsville, Ohio, with a mission to foster industrial, economic, commercial, and civic development within the county and its municipalities. They serve as a designated agency, leveraging loans and grants from the State of Ohio to finance industrial buildings, enabling businesses to secure lower lease payments and incentivizing their presence in the area. The corporation also has the authority to raise and expend funds for community projects in Morgan County, thereby contributing to its economic growth.
Is Morgan County Improvement Corporation legitimate?
Morgan County Improvement Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Morgan County Improvement 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: $2,400
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Morgan County Improvement Corporation?
The Morgan County Improvement Corporation is established with the primary objective of fostering industrial, economic, commercial, and civic development within its jurisdiction. Acting as a designated agency for the county and municipal corporations, its mission is to facilitate industrial, commercial, distribution, and research development in accordance with Section 1724.10 of the Revised Code. One of its key activities is providing real property for an industrial building, partly financed through loans and grants from the State of Ohio. The corporation also has the authority to raise funds and expend them on community projects, as this enables it to secure loans with lower interest rates and grants, ultimately enabling the financing of the real property. This, in turn, contributes to the overall development of the county.
Who is the CEO of Morgan County Improvement Corporation?
Kelsey Wells is the Board Member of Morgan County Improvement Corporation.
What is the revenue of Morgan County Improvement Corporation?
Morgan County Improvement Corporation's revenue in 2022 was $360,014.
Who are the executives of Morgan County Improvement Corporation and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Morgan County Improvement Corporation?
Morgan County Improvement Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Morgan County Improvement Corporation
The Morgan County Improvement Corporation, established for a specific purpose, is dedicated to fostering industrial, economic, commercial, and civic development within the county and its municipal corporations. Acting as a designated agency for the county, municipal corporations, or a combination of both, the corporation's mission is to drive industrial, commercial, distribution, and research development in accordance with Section 1724.10, Revised Code. One of its primary objectives is to provide real property for an industrial building, which is partially financed by loans and grants from the State of Ohio. The corporation also has the authority to raise funds and expend them on community projects in Morgan County, Ohio. By obtaining loans with lower than standard interest rates and grants from the State of Ohio, the corporation is able to finance the real property, thereby enabling further growth and development in the area.
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Impact
October, 2024
Morgan County Improvement Corporation significantly advances the industrial, economic, and civic development of Morgan County and its municipalities. By acting as the designated agency for various local political subdivisions, it facilitates the creation of real estate for industrial purposes, supported by loans and grants from the State of Ohio. Such financial backing, often available at reduced interest rates, allows businesses to lower their leasing expenses, making it more attractive for companies to establish operations in the area.
This strategic approach not only enhances the local economy but also plays a crucial role in reducing unemployment by creating new job opportunities. By actively raising funds and expending them for community projects, the corporation fosters a conducive environment for commercial and industrial growth. Overall, its impact leads to revitalization efforts in the region, promoting sustainability and improving the quality of life for residents.
This information is meant to be a general summary of Morgan County Improvement 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: $14
- Program Service Revenue: $360,000
- Gross Receipts: $360,014
Assets and Liabilities:
- Total Assets: $4,238,671
- Total Liabilities: $1,076,636
- Net Assets: $3,162,035
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
COMMERCIAL REAL ESTATE
Revenue
$360,000
Organization Details
Founding Year
1967
Phone
(740) 962-6772Principal Officer
Kelsey Wells
Main Address
155 E MAIN STREET ROOM 135 STE B, MCCONNELSVILLE, OH, 43756
NTEE Category
Code: S20 - Community improvement
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