Overview
What is Southeastern Minnesota 504 Development Inc?
Southeastern Minnesota 504 Development Inc is a nonprofit organization situated in Rochester, Minnesota. With a staff of three dedicated individuals, their primary mission is to help small businesses secure government financing for essential investments such as land, buildings, and equipment. By doing so, they aim to foster job creation and retention not only in Minnesota but also in its neighboring state, Wisconsin. This nonprofit organization plays a crucial role in supporting local businesses and contributing to the economic growth of the region.
Official website here: www.504corporation.com
Is Southeastern Minnesota 504 Development Inc legitimate?
Southeastern Minnesota 504 Development Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Southeastern Minnesota 504 Development 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: $148,200
Professional Fundraising Fees: $0
Other Salaries and Wages: $191,607
For more financial information, click here
Official website here: www.504corporation.com
What is the mission statement of Southeastern Minnesota 504 Development Inc?
Southeastern Minnesota 504 Development Inc is dedicated to assisting small businesses in securing government financing for the acquisition of land, buildings, and equipment. This mission aims to create or retain job opportunities in Minnesota and Wisconsin. The organization's primary goal is to facilitate financial support that will contribute to the growth and sustainability of these businesses. By doing so, it ultimately benefits the local economy and workforce.
Official website here: www.504corporation.com
What is the revenue of Southeastern Minnesota 504 Development Inc?
Southeastern Minnesota 504 Development Inc's revenue in 2023 was $615,052.
Official website here: www.504corporation.com
Who are the executives of Southeastern Minnesota 504 Development Inc and what are their salaries?
The average compensation at Southeastern Minnesota 504 Development Inc during 2023 was $113,269. There are 3 employees and 15 volunteers at Southeastern Minnesota 504 Development Inc.
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- Compensation: $148,200
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- Other: $5,049
Official website here: www.504corporation.com
Where can I find the form 990 for Southeastern Minnesota 504 Development Inc?
Southeastern Minnesota 504 Development Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.504corporation.com
Learn more at the official website: www.504corporation.com
Mission Statement of Southeastern Minnesota 504 Development Inc
Southeastern Minnesota 504 Development Inc is committed to aiding small businesses in their quest to secure government financing for essential purchases such as land, buildings, and equipment. This mission is driven by the organization's goal to stimulate job creation and retention in both Minnesota and Wisconsin. By providing this assistance, Southeastern Minnesota 504 Development Inc plays a significant role in fostering economic growth and development within the regional business community. The organization's primary objective is to empower small businesses, enabling them to expand their operations and contribute positively to the local job market.
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Impact
October, 2024
Southeastern Minnesota 504 Development Inc plays a crucial role in fostering economic growth in the region by assisting small businesses in securing government financing. This support enables businesses to purchase essential assets such as land, buildings, and equipment. As a direct result of their efforts, numerous jobs are created or retained, significantly contributing to the local economies of both Minnesota and Wisconsin. By facilitating access to funding, they empower entrepreneurs to expand their operations, innovate, and strengthen their communities, ultimately driving community improvement and economic stability in the region.
This information is meant to be a general summary of Southeastern Minnesota 504 Development 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 2023.
- Investment Income: $118,652
- Program Service Revenue: $496,400
- Gross Receipts: $615,052
Assets and Liabilities:
- Total Assets: $1,378,886
- Total Liabilities: $61,872
- Net Assets: $1,317,014
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN SERVICING
Revenue
$442,947
PROCESSING FEES
Revenue
$53,453
Organization Details
Founding Year
1990
Principal Officer
Daniel Vlasak
Website
www.504corporation.comNTEE Category
Code: S30 - Community improvement
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