Overview
What is Itasca Economic Development Corpor?
Itasca Economic Development Corporation, situated in Grand Rapids, Minnesota, is a dedicated nonprofit organization with a mission to contribute to the economic growth of Itasca County. They achieve this by providing various educational programs and resources to aid small businesses in their start-up and development phases. These initiatives encompass individual counseling sessions and workshops, all aimed at fostering a thriving business environment in the region. The organization's team, consisting of ten members, is committed to conducting research, outreach, and education, thereby creating valuable business opportunities within Itasca County.
Official website here: www.itascadv.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88%, Three-Star out of Four Star rating.
Itasca Economic Development Corporation has achieved a commendable score of 88%, reflecting its strong accountability and finance practices. With a perfect score for independent board members and oversight measures, the organization demonstrates a commitment to transparency and good governance. The absence of any material diversion of assets further underscores its financial integrity.
The organization's financial health is also highlighted by an impressive program expense ratio of over 90%, indicating that a significant portion of its resources is directed towards its programs rather than administrative costs. However, it is worth noting that it lacks a whistleblower policy and document retention practices, which are essential for safeguarding against potential misconduct and ensuring proper record-keeping.
Overall, Itasca Economic Development Corporation's focus on accountability and effective financial management is a strong point in its favor, although addressing the noted gaps in governance policies could enhance its operational resilience and stakeholder trust.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Itasca Economic Development Corpor?
88% of the 19 reviewers on Facebook recommend Itasca Economic Development Corporation. Here is a summary of their reviews:
Many users appreciate the organization's contributions to the community, highlighting its helpfulness and relevance to the area's development. The positive sentiment suggests that the nonprofit plays a vital role in supporting local growth and initiatives.
Overall, it seems that the Itasca Economic Development Corporation is seen as a valuable resource by those familiar with its services, indicating that it effectively fulfills its mission within the community.
This AI summary has been generated from reviews found on Facebook.
Is Itasca Economic Development Corpor legitimate?
Itasca Economic Development Corpor is a legitimate nonprofit organization registered as a 501(c)(3) entity. Itasca Economic Development Corpor 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: $121,267
Professional Fundraising Fees: $0
Other Salaries and Wages: $338,787
For more financial information, click here
Official website here: www.itascadv.org
What is the mission statement of Itasca Economic Development Corpor?
The Itasca Economic Development Corporation's mission is centered around stimulating economic growth in its domain. They achieve this by employing educational, research, and outreach initiatives. These strategies are designed to generate business opportunities, thereby fostering an economically prosperous environment. The organization extends its assistance to small businesses, aiding them in their start-up and development phases through various educational programs, such as individual counseling and workshops.
Official website here: www.itascadv.org
Who is the CEO of Itasca Economic Development Corpor?
Tamara Lowney is the President of Itasca Economic Development Corpor.
Official website here: www.itascadv.org
What is the revenue of Itasca Economic Development Corpor?
Itasca Economic Development Corpor's revenue in 2022 was $1,261,748.
Official website here: www.itascadv.org
Who are the executives of Itasca Economic Development Corpor and what are their salaries?
The average compensation at Itasca Economic Development Corpor during 2022 was $46,005. There are 10 employees and 20 volunteers at Itasca Economic Development Corpor.
Here are 12 key members and their salaries:
- Compensation: $121,267
- Related: $0
- Other: $7,031
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- Other: $0
Official website here: www.itascadv.org
Where can I find the form 990 for Itasca Economic Development Corpor?
Itasca Economic Development Corpor's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.itascadv.org
Learn more at the official website: www.itascadv.org
Mission Statement of Itasca Economic Development Corpor
Itasca Economic Development Corporation, a vital nonprofit entity, is committed to expanding the economic landscape of its community. They achieve this mission through a strategic blend of education, research, and outreach. By providing these resources, the organization fosters business opportunities that contribute to the overall growth of Itasca County's economy.
To actualize this objective, Itasca Economic Development Corporation offers various educational programs aimed at supporting small businesses. This assistance encompasses start-up and development activities, ensuring that local entrepreneurs have the necessary tools for success. The organization accomplishes this by offering individual counseling and conducting workshops, thus empowering small businesses to thrive and contribute to the economic development of Itasca County.
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Impact
July, 2024
Itasca Economic Development Corporation's impact is significant in growing the Itasca County economy through education, research, and outreach that creates business opportunities. They focus on small business development by assisting small businesses with start-up and development activities through various educational programs including individual counseling and workshops. Their work directly contributes to the economic growth and improvement of the community in Grand Rapids, MN.
This information is meant to be a general summary of Itasca Economic Development Corpor. 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: -$16,060
- Program Service Revenue: $47,599
- Gross Receipts: $1,261,793
Assets and Liabilities:
- Total Assets: $3,630,643
- Total Liabilities: $1,419,230
- Net Assets: $2,211,413
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SMALL BUSINESS DEVEL. REVENUE
Revenue
$47,599
Organization Details
Founding Year
1981
Phone
(218) 326-9411Principal Officer
Tamara Lowney
Main Address
12 NW 3RD STREET, GRAND RAPIDS, MN, 55744
Website
www.itascadv.orgNTEE Category
Code: S40Z - Community improvement
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