Cresco Industrial Development Corp

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

EIN: 421138199 ✦ Cresco, IA ✦ Designated as a 501(c)(6)

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Overview

What is Cresco Industrial Development Corp?

Cresco Industrial Development Corp is a nonprofit organization situated in Cresco, Iowa, primarily focused on fostering new businesses within the urban community. As a community economic development organization, its mission is to stimulate business growth and development in the area. Scott Thomson serves as the head of this organization, diligently working towards achieving its objectives. The organization's activities are geared towards encouraging entrepreneurship and economic prosperity in Cresco.

Is Cresco Industrial Development Corp legitimate?

Cresco Industrial Development Corp is a legitimate nonprofit organization registered as a 501(c)(6) entity. Cresco Industrial Development Corp 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

For more financial information, click here

What is the mission statement of Cresco Industrial Development Corp?

The mission of Cresco Industrial Development Corp, functioning as an urban community economic development organization, is centered around encouraging the growth of new businesses. This non-profit entity aims to foster a conducive environment for entrepreneurship, contributing to economic growth and development. The primary objective is to attract and support new businesses, thereby enhancing the local economy and creating opportunities for the community.

Who is the CEO of Cresco Industrial Development Corp?

Scott Thomson is the President of Cresco Industrial Development Corp.

What is the revenue of Cresco Industrial Development Corp?

Cresco Industrial Development Corp's revenue in 2023 was $32,659.

Who are the executives of Cresco Industrial Development Corp and what are their salaries?

There 20 volunteers at Cresco Industrial Development Corp.


Here are 5 key members and their salaries:


Mark Cuvelier (President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Jerome Waterbeck (Past President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Charles Malek (1St Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
Derek Lee (2Nd Vice President)
  • Compensation: $0
  • Related: $0
  • Other: $0
J Scott Thomson (Treasurer)
  • Compensation: $0
  • Related: $0
  • Other: $0
Where can I find the form 990 for Cresco Industrial Development Corp?

Cresco Industrial Development Corp's most recent form 990 was submitted in 2023 and can be accessed here.

Mission Statement of Cresco Industrial Development Corp

Cresco Industrial Development Corporation, as an urban, community economic development organization, is committed to fostering the growth of new businesses. Headed by Scott Thomson, this nonprofit entity in Cresco, Iowa, works tirelessly to encourage entrepreneurship and business development within the community. By promoting new businesses, the corporation aims to stimulate economic growth and improve the overall well-being of the community.

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Impact




October, 2024

Cresco Industrial Development Corp plays a crucial role in fostering economic growth in Cresco, Iowa, by encouraging the establishment and development of new businesses. Under the leadership of Scott Thomson, the organization focuses on creating a vibrant economic environment that benefits the local community. By supporting aspiring entrepreneurs and facilitating business initiatives, Cresco Industrial Development Corp helps to enhance job opportunities, promote local investment, and stimulate overall economic activity in the region.

Through its dedicated efforts in urban and community economic development, the organization not only aids in the launch of new enterprises but also contributes to a thriving business ecosystem that attracts further investment and innovation. This impact is significant for the residents of Cresco, as it helps to bolster the local economy, foster a sense of community, and improve the quality of life for its inhabitants.




This information is meant to be a general summary of Cresco Industrial Development Corp. 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
$32,659 (2023)
Expenses
$18,091 (2023)
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2023.

  • Investment Income: $15,559
  • Program Service Revenue: $17,100
  • Gross Receipts: $32,659

Assets and Liabilities:

  • Total Assets: $781,608
  • Total Liabilities: $264,197
  • Net Assets: $517,411

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Programs

Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

CITY OF CRESCO DUES

Revenue

$10,000

CUSB BANK DUES

Revenue

$4,000

CRESCO BANK & TRUST

Revenue

$2,000

MI ENERGY DUES

Revenue

$1,000

FEE INCOME

Revenue

$100

Organization Details

Founding Year

1960

Principal Officer

Scott Thomson

Main Address

101 2D AVE SE, CRESCO, IA, 52136

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