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Albia Industrial Development Corporation

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 420927912 ✦ Albia, IA ✦ Designated as a 501(c)(3)

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Overview

What is Albia Industrial Development Corporation?

Albia Industrial Development Corporation is a nonprofit organization primarily dedicated to industrial development in Monroe County, Iowa, specifically in the city of Albia. Their mission involves promoting economic growth and employment opportunities by showcasing the region's advantages. They accomplish this by advertising and publicizing the area, as well as assisting in identifying, developing, and making available suitable industrial sites and locations. Additionally, they have helped existing industries secure grants and tax credits from the government, ensuring their prosperity and continued presence in the county. With a small team of one dedicated individual, Albia Industrial Development Corporation plays a vital role in bolstering the local economy.


Official website here: www.albiaindustrial.com

Is Albia Industrial Development Corporation legitimate?

Albia Industrial Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Albia Industrial Development Corporation 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: $91,392
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here


Official website here: www.albiaindustrial.com

What is the mission statement of Albia Industrial Development Corporation?

The Albia Industrial Development Corporation's mission is to foster economic growth and create employment opportunities in an unspecified area. They achieve this by promoting the advantages of the region, assisting in the location, development, and availability of suitable industrial sites, and helping existing industries secure government grants and tax credits. By carrying out these activities, the corporation aims to ensure the prosperity and continuity of local industries.


Official website here: www.albiaindustrial.com

Who is the CEO of Albia Industrial Development Corporation?

Dan Tometich is the President of Albia Industrial Development Corporation.


Official website here: www.albiaindustrial.com

What is the revenue of Albia Industrial Development Corporation?

Albia Industrial Development Corporation's revenue in 2022 was $118,064.


Official website here: www.albiaindustrial.com

Who are the executives of Albia Industrial Development Corporation and what are their salaries?

The average compensation at Albia Industrial Development Corporation during 2022 was $91,392. There is 1 employee and 2 volunteers at Albia Industrial Development Corporation.


Here are 10 key members and their salaries:


Dan Tometich (President)
  • Compensation: $91,392
  • Related: $0
  • Other: $7,316
Richard Coltrain (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Joe Crall (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Freshwater (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Kevin Kness (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jack Scieszinski (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
John Hughes (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Norm Major (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Wes Aschleman (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jim Vanklavern (Director)
  • Compensation: $0
  • Related: $0
  • Other: $0


Official website here: www.albiaindustrial.com

Where can I find the form 990 for Albia Industrial Development Corporation?

Albia Industrial Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.


Official website here: www.albiaindustrial.com

Learn more at the official website: www.albiaindustrial.com

Mission Statement of Albia Industrial Development Corporation

Albia Industrial Development Corporation, a nonprofit organization, is dedicated to fostering economic growth and job opportunities in Monroe County, Iowa, specifically in the city of Albia. Their primary mission is to promote this area by highlighting its advantages and attracting potential industries. The corporation goes beyond mere promotion, actively assisting in locating, developing, and making available suitable industrial sites and locations. Furthermore, Albia Industrial Development Corporation plays a crucial role in helping existing industries secure government grants and tax credits. This assistance ensures the continued prosperity and longevity of these industries within Monroe County.

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Impact




October, 2024

Albia Industrial Development Corporation plays a vital role in enhancing the economic landscape of Monroe County, Iowa, particularly in the city of Albia. By actively promoting the area's advantages, the organization attracts new industries and supports existing ones, which is crucial for fostering employment opportunities in the region.

The corporation's mission focuses on industrial development, enabling it to facilitate connections between potential new industries and the community. Through effective advertising and publicizing, it raises awareness of what Monroe County has to offer, positioning the area as an attractive destination for businesses looking to relocate or expand.

Additionally, Albia Industrial Development Corporation assists local industries in obtaining essential resources such as grants and tax credits from the government. This support not only helps existing businesses thrive but also ensures their longevity in Monroe County. By creating a conducive environment for business growth, the corporation ultimately contributes to the overall prosperity and improvement of the local community.




This information is meant to be a general summary of Albia Industrial Development Corporation. 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.

Revenue
$118,064 (2022)
Expenses
$127,359 (2022)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $57
  • Gross Receipts: $118,064

Assets and Liabilities:

  • Total Assets: $201,091
  • Total Liabilities: $27,141
  • Net Assets: $173,950

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Organization Details

Founding Year

1956

Principal Officer

Dan Tometich

Main Address

1 BENTON AVENUE WEST, ALBIA, IA, 52531

NTEE Category

Code: S31Z - Community improvement

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