Overview
What is Community Development Of Morrison County Inc?
Community Development of Morrison County Inc, based in Little Falls, Minnesota, is a nonprofit organization that actively encourages and supports the growth of various businesses within its jurisdiction. The primary mission of this entity involves promoting, developing, and establishing industrial, commercial, and other enterprises in Little Falls and Morrison County. Funds for this purpose are procured from several sources such as the U.S. Department of Agriculture's Rural Business-Cooperative Service, the county, and the city. These funds are then lent out to eligible businesses, with the repaid loans being reinvested to help more ventures. During fiscal year 2023, the organization issued one such loan, contributing to economic development by providing capital for working capital, inventory acquisitions, and improvements to existing assets.
Official website here: www.cdc.morrison
Is Community Development Of Morrison County Inc legitimate?
Community Development Of Morrison County Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Community Development Of Morrison County 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: $79,329
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.cdc.morrison
What is the mission statement of Community Development Of Morrison County Inc?
The Community Development of Morrison County Inc's mission is centered around promoting, developing, and establishing various businesses in their region. They receive funds from sources such as the U.S. Department of Agriculture, the county, and the city. These funds are then lent out to businesses in the area. As the loans are repaid, the organization utilizes the funds to provide additional loans to other businesses. In essence, their mission is to foster economic growth and development by supporting local businesses.
Official website here: www.cdc.morrison
What is the revenue of Community Development Of Morrison County Inc?
Community Development Of Morrison County Inc's revenue in 2024 was $219,271.
Official website here: www.cdc.morrison
Who are the executives of Community Development Of Morrison County Inc and what are their salaries?
The average compensation at Community Development Of Morrison County Inc during 2024 was $79,329. There is 1 employee and 16 volunteers at Community Development Of Morrison County Inc.
Here are 20 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $74,596
- Related: $0
- Other: $14,037
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.cdc.morrison
Where can I find the form 990 for Community Development Of Morrison County Inc?
Community Development Of Morrison County Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.cdc.morrison
Learn more at the official website: www.cdc.morrison
Mission Statement of Community Development Of Morrison County Inc
Community Development of Morrison County Inc is an organization dedicated to encouraging, promoting, and establishing various businesses within Little Falls and Morrison County. Their mission is twofold: firstly, to promote the development and establishment of industrial, commercial, and other businesses in the specified areas. Secondly, they secure funds from sources such as the U.S. Department of Agriculture's Rural Business-Cooperative Service, the county, and the city. These funds are then lent out to businesses, with repaid loans being utilized to make additional loans available for further business development. In essence, Community Development of Morrison County Inc serves as a catalyst for economic growth within the region, providing financial assistance to businesses to help them thrive and contribute to the local economy.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Community Development Of Morrison County Inc significantly impacts the economic landscape of Little Falls and Morrison County by facilitating the growth of industrial, commercial, and various other businesses. In the fiscal year 2023, the organization issued a loan that served as a crucial financial resource for local businesses, aiding them in acquiring working capital, purchasing inventory, and making vital improvements to their capital assets.
By providing these loans, the organization fosters local entrepreneurship and business expansion, directly contributing to job creation and the overall economic vitality of the region. The funds come from reputable sources, including the U.S. Department of Agriculture Rural Business-Cooperative Service, the county, and the city, ensuring a steady flow of capital that supports ongoing and future business endeavors. As loans are repaid, the sustainable model allows for continuous reinvestment in the community, amplifying its economic development potential. Overall, the organization plays a pivotal role in nurturing a robust local economy, enhancing the quality of life for residents, and promoting long-term sustainability in Morrison County.
This information is meant to be a general summary of Community Development Of Morrison County 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 2024.
- Investment Income: $16,245
- Program Service Revenue: $58,291
- Gross Receipts: $219,271
Assets and Liabilities:
- Total Assets: $1,970,664
- Total Liabilities: $523,941
- Net Assets: $1,446,723
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN PROGRAM INTEREST
Revenue
$50,717
LOAN FEES
Revenue
$7,574
Organization Details
If you are a representative of Community Development Of Morrison County Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.