Overview
What is Small Business Growth Corporation?
The Small Business Growth Corporation, situated in Springfield, Illinois, serves as a certified development company under the U.S. Small Business Administration's Section 504 Loans program. Their primary mission is to foster economic development by supporting and aiding the growth, development, and expansion of businesses within Illinois and surrounding local economic areas. With a team of 38 dedicated individuals, they provide assistance to various business concerns, contributing positively to the state's economic landscape.
Official website here: www.growthcorp.com
Is Small Business Growth Corporation legitimate?
Small Business Growth Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Small Business Growth 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,585,246
For more financial information, click here
Official website here: www.growthcorp.com
What is the mission statement of Small Business Growth Corporation?
The Small Business Growth Corporation is dedicated to fostering economic development by advocating for and aiding in the expansion of business concerns. This organization operates beyond its own boundaries, extending its support to neighboring local economic areas as well. Its primary mission is to promote the growth, development, and expansion of businesses, thereby contributing to overall economic prosperity. As a certified development company for the U.S. Small Business Administration Section 504 Loans, it provides financial assistance to small businesses, thereby facilitating their growth and development.
Official website here: www.growthcorp.com
Who is the CEO of Small Business Growth Corporation?
David Novak is the Chairman of Small Business Growth Corporation.
Official website here: www.growthcorp.com
What is the revenue of Small Business Growth Corporation?
Small Business Growth Corporation's revenue in 2022 was $7,890,542.
Official website here: www.growthcorp.com
Who are the executives of Small Business Growth Corporation and what are their salaries?
The average compensation at Small Business Growth Corporation during 2022 was $120,664. There are 38 employees at Small Business Growth Corporation.
Here are 16 key members and their salaries:
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- Compensation: $445,000
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- Other: $15,062
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- Compensation: $305,000
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- Other: $14,991
- Compensation: $565,000
- Related: $0
- Other: $15,414
- Compensation: $120,833
- Related: $0
- Other: $6,603
- Compensation: $395,000
- Related: $0
- Other: $15,062
- Compensation: $153,000
- Related: $0
- Other: $8,564
- Compensation: $161,067
- Related: $0
- Other: $8,968
Official website here: www.growthcorp.com
Where can I find the form 990 for Small Business Growth Corporation?
Small Business Growth Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.growthcorp.com
Learn more at the official website: www.growthcorp.com
Mission Statement of Small Business Growth Corporation
The Small Business Growth Corporation, as a certified development company for the U.S. Small Business Administration Section 504 Loans, is dedicated to fostering economic development. Their primary mission is to actively promote and assist in the growth, development, and expansion of business concerns, not just within the state of Illinois, but also in adjacent local economic areas. By doing so, they aim to contribute to a thriving and robust business landscape, thereby driving overall economic development.
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Impact
October, 2024
Small Business Growth Corporation plays a vital role in fostering economic development by promoting and assisting the growth, development, and expansion of businesses across Illinois and its neighboring regions. By serving as a certified development company for U.S. Small Business Administration Section 504 loans, it provides essential financial support to small businesses, enabling them to invest in property and equipment.
The organization's impact is reflected in its ability to empower local entrepreneurs, creating job opportunities and enhancing community development. Through its services, small businesses gain access to capital that can facilitate expansion, innovation, and sustainability. This in turn stimulates local economies, encourages entrepreneurship, and contributes to a more vibrant business community.
Small Business Growth Corporation’s mission emphasizes a commitment to economic development, making it a key player in elevating both businesses and the communities they serve. Its focus on supporting business concerns translates to a measurable positive impact on the overall economic landscape of the region.
This information is meant to be a general summary of Small Business Growth 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: $5,271
- Program Service Revenue: $7,721,034
- Gross Receipts: $7,890,542
Assets and Liabilities:
- Total Assets: $2,478,514
- Total Liabilities: $1,235,238
- Net Assets: $1,243,276
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SBA SECTION 504 PROGRAM
Revenue
$7,721,034
Organization Details
Phone
(217) 787-7557Principal Officer
David Novak
Main Address
2401 WEST WHITE OAKS DRIVE, SPRINGFIELD, IL, 627047423
Website
www.growthcorp.comNTEE Category
Code: S43 - Community improvement
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