Overview
What is Douglas County Revolving Loan Fund Inc?
Douglas County Revolving Loan Fund Inc is a nonprofit organization situated in Superior, Wisconsin, specifically at 1313 Belknap Street 102. Its primary mission is to stimulate economic growth in Douglas County, Wisconsin, by offering below-market loans to new or expanding businesses. This funding is designed to bridge gaps in local markets, thereby encouraging the formation of private sector ventures. In essence, the organization acts as a "pump primer," supplementing commercial lending rather than replacing it altogether. This nonprofit aims to support the recruitment, expansion, and retention of businesses and industry in the area, ultimately contributing to the region's overall prosperity.
Is Douglas County Revolving Loan Fund Inc legitimate?
Douglas County Revolving Loan Fund Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. Douglas County Revolving Loan Fund 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 Douglas County Revolving Loan Fund Inc?
The Douglas County Revolving Loan Fund Inc is dedicated to promoting economic growth in its respective region. This is achieved through the recruitment, expansion, and retention of businesses and industries. The organization provides financing to fill gaps in local markets, acting as a catalyst rather than a replacement for commercial lending. By doing so, the Revolving Loan Fund Inc aims to stimulate private sector formation, ultimately contributing to the overall economic development of the area.
Who is the CEO of Douglas County Revolving Loan Fund Inc?
Richard Nystrom is the President of Douglas County Revolving Loan Fund Inc.
What is the revenue of Douglas County Revolving Loan Fund Inc?
Douglas County Revolving Loan Fund Inc's revenue in 2022 was $15,977.
Who are the executives of Douglas County Revolving Loan Fund Inc and what are their salaries?
There 8 volunteers at Douglas County Revolving Loan Fund Inc.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Douglas County Revolving Loan Fund Inc?
Douglas County Revolving Loan Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Douglas County Revolving Loan Fund Inc
Douglas County Revolving Loan Fund Inc, a nonprofit organization, is committed to promoting economic growth in its respective region. By offering below-market loans to new or expanding businesses, the organization aims to fill gaps in local markets, stimulating the formation of the private sector. Rather than acting as a replacement for commercial lending, Douglas County Revolving Loan Fund Inc serves as a "pump primer" to facilitate business growth and industry recruitment or expansion. This approach ultimately contributes to economic development within the community.
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Impact
October, 2024
Douglas County Revolving Loan Fund Inc significantly impacts the local economy by promoting growth in Douglas County, Wisconsin. The organization actively engages in the recruitment, expansion, and retention of businesses and industries by providing below-market loans to new or expanding enterprises. This financial support fills gaps in local markets, enabling businesses to thrive when traditional commercial lending may not be available or suitable.
By stimulating private sector formation, the Fund functions as a vital "pump primer," fostering an environment conducive to economic development. The loans offered can help businesses overcome financial hurdles, encouraging them to invest in growth, hire new employees, and contribute to the local workforce. Ultimately, the efforts of the Douglas County Revolving Loan Fund Inc play a crucial role in building a robust and resilient economy in the region.
This information is meant to be a general summary of Douglas County Revolving Loan Fund 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: $2,608
- Program Service Revenue: $13,369
- Gross Receipts: $15,977
Assets and Liabilities:
- Total Assets: $868,554
- Total Liabilities: $0
- Net Assets: $868,554
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM LOAN INCOME
Revenue
$13,369
Organization Details
Founding Year
1985
Phone
(715) 395-1348Principal Officer
Richard Nystrom
Main Address
1313 BELKNAP STREET 102, SUPERIOR, WI, 54880
NTEE Category
Code: S31 - Community improvement
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