Overview
What is Owatonna Business Incubator Inc?
Owatonna Business Incubator Inc, located in Owatonna, Minnesota, serves as a catalyst for economic growth. Operating from a facility accommodating approximately 24,000 square feet of space, the organization houses manufacturing tenants. Their primary mission is to support the development of new businesses and the expansion of existing ones by providing reduced facility costs and mentorship. This nonprofit organization aims to foster a conducive environment for start-ups and established businesses, ultimately contributing to the overall economic growth of the community. With a small team of two dedicated individuals, Owatonna Business Incubator Inc is committed to nurturing local businesses and driving sustainable development.
Official website here: www.owatonna.biz
Is Owatonna Business Incubator Inc legitimate?
Owatonna Business Incubator Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Owatonna Business Incubator 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: $51,586
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,666
For more financial information, click here
Official website here: www.owatonna.biz
What is the mission statement of Owatonna Business Incubator Inc?
The Owatonna Business Incubator Inc is dedicated to fostering economic development. They achieve this by offering reduced facility costs and providing mentorship to new businesses, helping them get off the ground. Additionally, they assist in the growth of existing businesses, serving as a catalyst for their expansion. This organization's strategic approach not only supports the establishment of new businesses but also nurtures the growth of existing ones, contributing to a thriving economic environment.
Official website here: www.owatonna.biz
Who is the CEO of Owatonna Business Incubator Inc?
Joe Effertz is the Executive Di of Owatonna Business Incubator Inc.
Official website here: www.owatonna.biz
What is the revenue of Owatonna Business Incubator Inc?
Owatonna Business Incubator Inc's revenue in 2022 was $229,357.
Official website here: www.owatonna.biz
Who are the executives of Owatonna Business Incubator Inc and what are their salaries?
The average compensation at Owatonna Business Incubator Inc during 2022 was $27,626. There are 2 employees at Owatonna Business Incubator Inc.
Here are 12 key members and their salaries:
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Official website here: www.owatonna.biz
Where can I find the form 990 for Owatonna Business Incubator Inc?
Owatonna Business Incubator Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.owatonna.biz
Learn more at the official website: www.owatonna.biz
Mission Statement of Owatonna Business Incubator Inc
Owatonna Business Incubator Inc, as a nonprofit organization, is dedicated to promoting economic development. They achieve this by offering reduced facility costs and providing mentorship to both new and established businesses. The incubator's mission is to facilitate the growth of these businesses, thereby contributing to the overall economic development of the community. By offering reduced facility costs, startups and small businesses are able to save on operational expenses, allowing them to focus on their core operations and growth strategies. Additionally, the incubator provides mentorship, offering guidance and support to entrepreneurs as they navigate the challenges of starting and growing their businesses. This mentorship can be invaluable, providing entrepreneurs with the expertise and insights they need to succeed in a competitive business environment. Overall, Owatonna Business Incubator Inc plays a vital role in fostering economic development by supporting the growth of local businesses.
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Impact
October, 2024
Owatonna Business Incubator Inc significantly impacts the local economy by fostering entrepreneurship and supporting business growth. By providing reduced facility costs, it lowers the financial barriers for startups and existing businesses, enabling them to allocate more resources toward innovation and development.
Over the years, the incubator has hosted various manufacturing tenants, occupying approximately 24,000 square feet of its 32,000 square foot facility. This occupancy not only helps these businesses thrive but also contributes to job creation and community engagement in Owatonna.
Additionally, the mentorship provided by the incubator is invaluable, guiding new entrepreneurs through the complexities of establishing and running a business. This combination of affordable space and expert support cultivates a fertile environment for economic development, ultimately enhancing the overall vitality of the region.
This information is meant to be a general summary of Owatonna Business Incubator 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: $158
- Program Service Revenue: $176,199
- Gross Receipts: $229,357
Assets and Liabilities:
- Total Assets: $410,846
- Total Liabilities: $5,118
- Net Assets: $405,728
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Organization Details
Phone
(507) 451-0517Principal Officer
Joe Effertz
Main Address
PO BOX 505, OWATONNA, MN, 55060
Website
www.owatonna.bizNTEE Category
Code: S43Z - Community improvement
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