Overview
What is Rochester Area Economic Development Inc?
Rochester Area Economic Development Inc, based in Rochester, Minnesota, serves as an economic enabler for businesses in the Rochester Metropolitan Statistical Area. Their primary goal is to foster a conducive business environment, contributing to the retention, growth, and diversification of the local economy. With a team of seven dedicated individuals, RAEDI aims to facilitate businesses considering Rochester as their operational base, ultimately promoting the region's economic growth.
Official website here: www.raedi.com
Is Rochester Area Economic Development Inc legitimate?
Rochester Area Economic Development Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Rochester Area Economic Development 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $203,340
Professional Fundraising Fees: $0
Other Salaries and Wages: $438,071
For more financial information, click here
Official website here: www.raedi.com
What is the mission statement of Rochester Area Economic Development Inc?
Rochester Area Economic Development Inc's mission is to serve as an economic catalyst for local businesses. Their primary objective is to achieve this by promoting and facilitating the consideration of their region as a suitable location for businesses, with a focus on retaining existing businesses, fostering their growth, and diversifying the economy. In essence, their mission is to function as an economic enabler, producing positive results for the businesses in their area.
Official website here: www.raedi.com
Who is the CEO of Rochester Area Economic Development Inc?
John Wade is the Chair of Rochester Area Economic Development Inc.
Official website here: www.raedi.com
What is the revenue of Rochester Area Economic Development Inc?
Rochester Area Economic Development Inc's revenue in 2022 was $925,215.
Official website here: www.raedi.com
Who are the executives of Rochester Area Economic Development Inc and what are their salaries?
The average compensation at Rochester Area Economic Development Inc during 2022 was $91,630. There are 7 employees and 27 volunteers at Rochester Area Economic Development Inc.
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Official website here: www.raedi.com
Where can I find the form 990 for Rochester Area Economic Development Inc?
Rochester Area Economic Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.raedi.com
Learn more at the official website: www.raedi.com
Mission Statement of Rochester Area Economic Development Inc
Rochester Area Economic Development Inc, abbreviated as RAEDI, is committed to serving as an economic catalyst for businesses in the Rochester area. Their mission, in essence, is to foster a conducive environment for local businesses, fostering growth, retention, and diversification of the economy. By promoting and facilitating businesses considering the Rochester Metropolitan Statistical Area as a suitable location to operate, RAEDI plays a pivotal role in driving economic development and expansion.
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Impact
October, 2024
Rochester Area Economic Development Inc (RAEDI) plays a crucial role in enhancing the economic landscape of the Rochester area. By focusing on the retention, growth, and diversification of local businesses, RAEDI acts as a key enabler, ensuring that the region remains attractive for business investment. Their proactive approach facilitates connections for businesses considering the Rochester Metropolitan Statistical Area (MSA) as a viable location, effectively promoting the area's potential. This strategic focus not only helps stabilize the local economy but also encourages sustainable growth, resulting in a vibrant community that benefits residents and businesses alike. Through these efforts, RAEDI significantly contributes to community improvement, making Rochester a more competitive and thriving economic hub.
This information is meant to be a general summary of Rochester Area Economic Development 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: $34,138
- Program Service Revenue: $278,073
- Gross Receipts: $1,159,638
Assets and Liabilities:
- Total Assets: $4,399,928
- Total Liabilities: $99,603
- Net Assets: $4,300,325
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEES
Revenue
$228,029
SPECIAL EVENTS, NET
Revenue
$47,083
LOAN CLOSING COSTS
Revenue
$2,961
Organization Details
Founding Year
1986
Phone
(507) 288-0208Principal Officer
John Wade
Main Address
221 FIRST AVENUE SW SUITE 600, ROCHESTER, MN, 55902
Website
www.raedi.comNTEE Category
Code: S40 - Community improvement
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