Overview
What is Twin Cities-Metro Certified Development Co?
Twin Cities-Metro Certified Development Company is a nonprofit organization located in Vadnais Heights, Minnesota. Its primary mission is to stimulate private sector investment by offering financing for small business expansions in Minnesota and Western Wisconsin via the Small Business Administration's 504 Loan Program. The organization approves and funds loans to eligible businesses that purchase fixed assets, primarily real estate, for their business use. During Fiscal Year 2023, Twin Cities-Metro Certified Development Co had 57 loan approvals and 41 loan fundings totaling approximately $38.6 million. These loans are expected to result in the creation or retention of 479 jobs within two years. The organization, which employs 15 individuals, plays a crucial role in fostering economic growth in the region by facilitating small business expansions.
Official website here: www.504lending.com
Is Twin Cities-Metro Certified Development Co legitimate?
Twin Cities-Metro Certified Development Co is a legitimate nonprofit organization registered as a 501(c)(4) entity. Twin Cities-Metro Certified Development Co 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: $674,571
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,732,916
For more financial information, click here
Official website here: www.504lending.com
What is the mission statement of Twin Cities-Metro Certified Development Co?
The Twin Cities-Metro Certified Development Company's mission is to stimulate private sector investment in small businesses by providing funding for expansions through the utilization of the Small Business Administration's 504 loan program. This organization operates within Minnesota and western Wisconsin, with businesses eligible for loans based on their purchase of fixed assets, primarily real estate, for their business use. The company aims to retain or create at least one job for every $90,000 in SBA guaranteed funds or meet a public policy goal as dictated by the SBA. During fiscal year 2023, the organization had 57 loan approvals and 41 loan fundings for approximately $38.6 million. It is anticipated that within two years of funding, 479 jobs will be created or retained as a result of these loans.
Official website here: www.504lending.com
Who is the CEO of Twin Cities-Metro Certified Development Co?
Peter D Ingebrand is the President of Twin Cities-Metro Certified Development Co.
Official website here: www.504lending.com
What is the revenue of Twin Cities-Metro Certified Development Co?
Twin Cities-Metro Certified Development Co's revenue in 2023 was $3,331,044.
Official website here: www.504lending.com
Who are the executives of Twin Cities-Metro Certified Development Co and what are their salaries?
The average compensation at Twin Cities-Metro Certified Development Co during 2023 was $160,499. There are 15 employees at Twin Cities-Metro Certified Development Co.
Here are 22 key members and their salaries:
- Compensation: $330,282
- Related: $0
- Other: $42,312
- Compensation: $6,290
- Related: $0
- Other: $0
- Compensation: $4,965
- Related: $0
- Other: $0
- Compensation: $4,545
- Related: $0
- Other: $0
- Compensation: $5,260
- Related: $0
- Other: $0
- Compensation: $3,830
- Related: $0
- Other: $0
- Compensation: $2,260
- Related: $0
- Other: $0
- Compensation: $2,085
- Related: $0
- Other: $0
- Compensation: $2,295
- Related: $0
- Other: $0
- Compensation: $2,190
- Related: $0
- Other: $0
- Compensation: $2,470
- Related: $0
- Other: $0
- Compensation: $2,260
- Related: $0
- Other: $0
- Compensation: $2,015
- Related: $0
- Other: $0
- Compensation: $2,225
- Related: $0
- Other: $0
- Compensation: $2,260
- Related: $0
- Other: $0
- Compensation: $2,295
- Related: $0
- Other: $0
- Compensation: $201,071
- Related: $0
- Other: $33,931
- Compensation: $243,268
- Related: $0
- Other: $38,429
- Compensation: $215,192
- Related: $0
- Other: $40,515
- Compensation: $142,167
- Related: $0
- Other: $6,360
- Compensation: $144,147
- Related: $0
- Other: $14,177
- Compensation: $134,819
- Related: $0
- Other: $18,057
Official website here: www.504lending.com
Where can I find the form 990 for Twin Cities-Metro Certified Development Co?
Twin Cities-Metro Certified Development Co's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.504lending.com
Learn more at the official website: www.504lending.com
Mission Statement of Twin Cities-Metro Certified Development Co
Twin Cities-Metro Certified Development Company is dedicated to stimulating private sector investment in Minnesota and Western Wisconsin. They achieve this mission by providing funding for small business expansions through the utilization of the Small Business Administration's 504 Loan Program. By offering these loans, eligible businesses, primarily those purchasing fixed assets like real estate for their operations, can expand their operations, creating or retaining at least one job for every $90,000 in SBA guaranteed funds. Alternatively, businesses can meet a public policy goal as dictated by the SBA. In the fiscal year 2023, Twin Cities-Metro Certified Development Company approved 57 loans and funded 41 of them, amounting to approximately $38.6 million. This investment is expected to lead to the creation or retention of 479 jobs within two years of funding.
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Impact
October, 2024
Twin Cities-Metro Certified Development Co plays a vital role in fostering economic growth and job creation in Minnesota and western Wisconsin. By administering the SBA 504 Loan Program, the organization supports small businesses in making critical investments in fixed assets, primarily real estate, which are essential for their expansion and success.
In fiscal year 2023, the organization achieved 57 loan approvals and 41 loan fundings, totaling approximately $38.6 million. This substantial funding not only enables businesses to grow but also ensures that they are able to create and retain jobs. Specifically, it is projected that within two years of receiving these loans, approximately 479 jobs will be created or retained, significantly contributing to the local economy.
By stimulating private sector investment and facilitating access to capital, Twin Cities-Metro Certified Development Co actively contributes to community improvement and the overall health of the regional economy.
This information is meant to be a general summary of Twin Cities-Metro Certified Development Co. 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 2023.
- Investment Income: $80,937
- Program Service Revenue: $3,232,559
- Gross Receipts: $3,331,044
Assets and Liabilities:
- Total Assets: $7,320,907
- Total Liabilities: $2,999,982
- Net Assets: $4,320,925
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN SERVICING FEES
Revenue
$1,912,075
LOAN PROCESSING FEES
Revenue
$824,263
LOAN FLOAT REVENUE
Revenue
$496,221
Organization Details
Founding Year
1990
Phone
(651) 481-8081Principal Officer
Peter D Ingebrand
Main Address
3495 VADNAIS CENTER DRIVE, VADNAIS HEIGHTS, MN, 55110
Website
www.504lending.comNTEE Category
Code: S43 - Community improvement
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