Overview
What is Albion Economic Development Corporation?
The Albion Economic Development Corporation (AEDC) is a nonprofit organization primarily focused on fostering economic and civic growth in the Albion, Nebraska, area. Their mission involves providing financial assistance and loaning funds to promote development within the Albion trade zone. In 2022, they granted land to Boone Beginnings for the construction of a non-profit childcare facility and provided additional funds for this project. They also contributed to Boone County Agricultural Education Center's Fairgrounds Project through a cash grant. Future plans include awarding affordable housing grants. The organization's activities aim to attract industries and stimulate development in Albion and its surrounding territory.
Is Albion Economic Development Corporation legitimate?
Albion Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Albion 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.
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What is the mission statement of Albion Economic Development Corporation?
The Albion Economic Development Corporation's mission is to foster development in its operating area by offering financial assistance through loans or providing industrial sites and buildings for businesses interested in setting up shop. Their primary goal is to promote economic growth within their jurisdiction, working towards attracting and supporting industries. In 2022, the corporation granted land to Boone Beginnings for the development of a non-profit childcare facility and also provided cash grants for the same project and another at the Boone County Agricultural Education Center's Fairgrounds project. The organization is currently involved in developing affordable housing grants as well.
What is the revenue of Albion Economic Development Corporation?
Albion Economic Development Corporation's revenue in 2024 was $1,498,759.
Who are the executives of Albion Economic Development Corporation and what are their salaries?
There 1 volunteer at Albion Economic Development Corporation.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Albion Economic Development Corporation?
Albion Economic Development Corporation's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Albion Economic Development Corporation
Albion Economic Development Corporation, often abbreviated as AEDC, is dedicated to fostering growth and advancement in its designated trade area. Their mission, in essence, is twofold. Firstly, they aim to support industries interested in setting up operations in their area by offering loans or providing them with suitable sites and buildings. Secondly, AEDC strives to promote economic and civic development within the Albion, NE region. This mission is exemplified by their actions, such as granting land for a non-profit child care facility to Boone Beginnings in 2022, and providing financial assistance for various projects. Currently, AEDC is involved in plans for affordable housing grants, demonstrating their ongoing commitment to development and community betterment.
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Impact
October, 2024
Albion Economic Development Corporation (AEDC) plays a crucial role in fostering economic and civic development in Albion, Nebraska, and its surrounding trade area. By providing financial assistance and grants, AEDC supports a range of initiatives that enhance the community's infrastructure and services.
In 2022, AEDC made significant contributions by granting land to Boone Beginnings for the establishment of a nonprofit child care facility, addressing a vital community need. Additionally, it provided cash grants to both Boone Beginnings and the Boone County Agricultural Education Center to facilitate important projects, such as the enhancement of local fairgrounds. These initiatives not only improve the quality of life for residents but also stimulate local employment and economic activity.
Looking forward, AEDC is committed to continuing its support for community development projects, including affordable housing grants, which will further strengthen Albion’s economic landscape. Through its ongoing efforts to attract industries and provide necessary resources, AEDC plays an integral role in fostering sustainable growth and community improvement in the region.
This information is meant to be a general summary of Albion 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 2024.
- Investment Income: $37,044
- Program Service Revenue: $152,605
- Gross Receipts: $1,498,759
Assets and Liabilities:
- Total Assets: $809,384
- Total Liabilities: $0
- Net Assets: $809,384
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CITY SALES TAX REVENUE
Revenue
$148,905
BUILDING RENT
Revenue
$3,700
Organization Details
Founding Year
2003
Principal Officer
Jeffrey C Jarecki
NTEE Category
Code: S32 - Community improvement
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