Overview
What is Economic Initiatives Of Cannon Falls Inc?
Economic Initiatives Of Cannon Falls Inc is a nonprofit organization situated in Cannon Falls, Minnesota, with a specific mission to attract and support new businesses in the area. As per the provided data, the organization played an active role in 2022 by administering a total of 12 loans to local businesses, including three new loans. In addition to this financial support, the organization contributes to the local Chamber of Commerce and another economic development association to promote businesses in the Cannon Falls area. This commitment to the local economy demonstrates Economic Initiatives Of Cannon Falls Inc's dedication to fostering growth and development in the community.
Is Economic Initiatives Of Cannon Falls Inc legitimate?
Economic Initiatives Of Cannon Falls Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Economic Initiatives Of Cannon Falls 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:
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What is the mission statement of Economic Initiatives Of Cannon Falls Inc?
Economic Initiatives Of Cannon Falls Inc was established with the purpose of attracting and supporting new businesses. Its primary objective is to facilitate the process of new businesses setting up operations within its operational scope. The organization has been actively involved in this mission, having administered a total of 12 loans to small businesses, with three of these loans originated in 2022 alone. Furthermore, Economic Initiatives Of Cannon Falls Inc contributes financially to local and regional economic development associations to boost the promotion of businesses in the area.
Who is the CEO of Economic Initiatives Of Cannon Falls Inc?
John Peterson is the President of Economic Initiatives Of Cannon Falls Inc.
What is the revenue of Economic Initiatives Of Cannon Falls Inc?
Economic Initiatives Of Cannon Falls Inc's revenue in 2022 was $11,223.
Who are the executives of Economic Initiatives Of Cannon Falls Inc and what are their salaries?
There 9 volunteers at Economic Initiatives Of Cannon Falls Inc.
Here are 9 key members and their salaries:
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Where can I find the form 990 for Economic Initiatives Of Cannon Falls Inc?
Economic Initiatives Of Cannon Falls Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Economic Initiatives Of Cannon Falls Inc
Economic Initiatives of Cannon Falls Inc, as an organization, was established with the primary objective of inviting and aiding new businesses to establish themselves in Cannon Falls, Minnesota. Their mission is centered around attracting and supporting emerging enterprises, aiming to bolster the local business landscape. They accomplish this by extending financial assistance through administering loans to small businesses, having approved 12 such loans in total, with three new ones initiated in 2022. Furthermore, Economic Initiatives of Cannon Falls Inc contributes to the local Chamber of Commerce and another Economic Development Association to promote and boost the businesses operating in the Cannon Falls area. By engaging in these activities, the organization plays a vital role in fostering economic growth and strengthening the business ecosystem in the region.
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Impact
October, 2024
Economic Initiatives of Cannon Falls Inc plays a crucial role in fostering economic growth and community development in Cannon Falls, Minnesota. By inviting and assisting new businesses to establish themselves in the area, the organization contributes significantly to the local economy.
In 2022, the organization administered 12 loans to small businesses, including three new loans, thereby providing essential financial support to entrepreneurs. This direct assistance not only helps startups but also strengthens the existing business landscape, ensuring a diverse and resilient economy.
Moreover, by collaborating with the local Chamber of Commerce and an area economic development association, Economic Initiatives of Cannon Falls Inc enhances the promotion of businesses in the area. Such partnerships play a vital role in creating awareness and attracting potential investors and customers to Cannon Falls.
Overall, the organization's initiatives not only stimulate local job creation and entrepreneurial ventures but also foster a sense of community improvement, contributing to the overall vitality of Cannon Falls.
This information is meant to be a general summary of Economic Initiatives Of Cannon Falls 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: $1,065
- Program Service Revenue: $10,158
- Gross Receipts: $11,223
Assets and Liabilities:
- Total Assets: $625,840
- Total Liabilities: $0
- Net Assets: $625,840
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ECON. DEV. LOAN INTEREST
Revenue
$10,158
Organization Details
Founding Year
2009
Phone
(507) 263-4945Principal Officer
John Peterson
Main Address
705 CANNON INDUSTRIAL BLVD, CANNON FALLS, MN, 55009
NTEE Category
Code: S41 - Community improvement
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