Overview
What is Brandon Development Foundation Inc?
The Brandon Development Foundation Inc, a nonprofit organization with a volunteer board of directors, is based in Brandon, South Dakota. Their primary mission is to stimulate job growth and economic development within the community. They accomplish this by acquiring and developing industrial parks, such as the Corson Industrial Park and the Rovang Industrial Park. The foundation has sold and inherited land in these parks, with ongoing projects involving infrastructure improvements. Their long-term vision is to create jobs, boost local payrolls, and promote retail activity, ultimately benefiting the city of Brandon through increased sales tax and home ownership. The foundation also acknowledges that commercial and industrial properties contribute more in property tax and require fewer services, leading to tax relief for the city.
Is Brandon Development Foundation Inc legitimate?
Brandon Development Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Brandon Development Foundation Inc 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 Brandon Development Foundation Inc?
The Brandon Development Foundation's mission is centered around promoting job creation and retention within a community. As a non-profit organization with a volunteer board, the foundation takes a long-term approach to economic development, recognizing it as a sustained effort. Economic development brings new job opportunities into the community, benefiting it through increased local payrolls, retail activity, sales tax, and home ownership. Commercial and industrial properties, which pay more in property tax and require less in services than residential properties, also contribute to this growth. Ultimately, industrial growth leads to tax relief, making economic development advantageous for the community.
Who is the CEO of Brandon Development Foundation Inc?
Chuck Parsons is the Chairman of Brandon Development Foundation Inc.
What is the revenue of Brandon Development Foundation Inc?
Brandon Development Foundation Inc's revenue in 2022 was -$7,191.
Who are the executives of Brandon Development Foundation Inc 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 Brandon Development Foundation Inc?
Brandon Development Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Brandon Development Foundation Inc
The Brandon Development Foundation (BDF) is a non-profit organization with a volunteer board of directors, dedicated to a long-term commitment to economic development within the community. Recognizing that economic growth is a prolonged process, BDF's mission is centered around creating and retaining jobs within the community. This mission is achieved by attracting new businesses to the area, which in turn increases local payrolls. This influx of income benefits the community in various ways, such as contributing to retail activity, generating sales tax revenue, and promoting increased home ownership. Furthermore, commercial and industrial properties contribute disproportionately more in property tax and require fewer public services than residential property owners, providing tax relief for the city. In essence, economic development, as pursued by the Brandon Development Foundation, is advantageous for the city due to its potential to stimulate job growth and generate tax revenue.
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Impact
October, 2024
The Brandon Development Foundation Inc has a significant impact on the local economy by focusing on job creation and retention within the community. Their efforts are directed towards long-term economic development, which is essential for sustaining and enhancing the overall quality of life in Brandon, South Dakota.
By facilitating the sale and development of industrial properties, such as those in the Corson and Rovang Industrial Parks, the foundation is actively contributing to local job growth. These developments lead to increased local payrolls, which in turn stimulate retail activity and enhance sales tax revenues. The additional income generated by local businesses also fosters greater home ownership in the area.
Furthermore, the foundation's initiatives help balance the community's tax base. Commercial and industrial properties tend to contribute more through property taxes while requiring fewer services compared to residential properties. This dynamic not only supports the city's revenue but also provides tax relief, enabling further investments in community services and infrastructure.
The foundation's commitment to working closely with engineers and excavation companies to improve infrastructure in industrial parks is pivotal. Such developments attract new businesses, which are anticipated to generate even more job opportunities, enriching the community’s economic landscape. Overall, the Brandon Development Foundation is a catalyst for sustainable economic growth and community enhancement, leading to a brighter future for Brandon.
This information is meant to be a general summary of Brandon Development Foundation Inc. 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: $106
- Gross Receipts: $539,702
Assets and Liabilities:
- Total Assets: $4,621,148
- Total Liabilities: $1,838,049
- Net Assets: $2,783,099
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Organization Details
Phone
(605) 582-3224Principal Officer
Chuck Parsons
Main Address
308 MAIN AVE PO BOX 95, BRANDON, SD, 57005
NTEE Category
Code: S31 - Community improvement
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