Overview
What is Newton Development Corporation?
Newton Development Corporation (NDC) is a nonprofit organization based in Newton, Iowa, with a focus on promoting the growth and sustainability of the local economy. Established with the help of investor contributions and city funding, including a hotel/motel tax initiated by NDC itself in 2005, the organization aims to create a thriving community for families and visitors alike. NDC's mission is to encourage, assist, establish, maintain, and develop business projects and industries in the Newton area. The corporation strives to improve the economic well-being of the Newton community by collaborating with other stakeholders to increase investment in the city. This is measured by various indicators such as employment growth, population increase, housing development, retail sales, tax base expansion, healthcare accessibility, and school enrollment. As part of their efforts, NDC is also involved in the Iowa Connections Group - A5.
Official website here: www.newtondevelopmentcorporation.com
Is Newton Development Corporation legitimate?
Newton Development Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Newton 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: $149,996
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.newtondevelopmentcorporation.com
What is the mission statement of Newton Development Corporation?
The Newton Development Corporation aims to enhance the economic well-being of its community. They achieve this by working collaboratively with other stakeholders to attract, retain, and grow businesses. The success of their mission is measured by increased employment, population, housing, retail sales, tax base, healthcare accessibility, and school enrollment. The corporation operates based on principles of honesty, integrity, respect, professionalism, teamwork, and a balance of transparency and confidentiality.
Official website here: www.newtondevelopmentcorporation.com
Who is the CEO of Newton Development Corporation?
Jeff Price is the Director Emeritus of Newton Development Corporation.
Official website here: www.newtondevelopmentcorporation.com
What is the revenue of Newton Development Corporation?
Newton Development Corporation's revenue in 2022 was $215,851.
Official website here: www.newtondevelopmentcorporation.com
Who are the executives of Newton Development Corporation and what are their salaries?
The average compensation at Newton Development Corporation during 2022 was $74,998. There are 2 employees and 30 volunteers at Newton Development Corporation.
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Official website here: www.newtondevelopmentcorporation.com
Where can I find the form 990 for Newton Development Corporation?
Newton Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newtondevelopmentcorporation.com
Learn more at the official website: www.newtondevelopmentcorporation.com
Mission Statement of Newton Development Corporation
The Newton Development Corporation, as a dedicated organization, aims to promote the economic prosperity of its community. It achieves this goal by collaborating with various stakeholders in the area. The corporation's strategy involves retaining existing businesses, fostering business growth, and attracting new ventures. This approach is measured by observing trends in employment, population growth, housing development, retail sales, tax revenue, healthcare accessibility, and school enrollment. The Newton Development Corporation upholds a set of principles and values, including honesty, integrity, respect, professionalism, teamwork, and a balance between transparency and confidentiality, in all its endeavors.
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Impact
October, 2024
Newton Development Corporation (NDC) significantly impacts the local economy of Newton, Iowa, by fostering business growth and sustainability. Through its initiatives, NDC encourages, assists, and establishes various business projects and industries in the area. In 2022, the corporation raised over $98,000 from private investors and received an additional $93,000 from the city through the hotel/motel tax—a tax that NDC played a crucial role in establishing back in 2005.
These funds are pivotal for promoting economic vibrancy in Newton, enhancing the community's quality of life. NDC's efforts directly contribute to the growth of employment opportunities, improved housing conditions, increased retail sales, and a broader tax base, which, in turn, supports essential services like healthcare and education.
Since the departure of Maytag in 2006, NDC has been at the forefront of community discussions regarding economic development, creating a vision for the future that aligns with local goals. Collaborating with various stakeholders, NDC strives to make Newton a desirable place for families to live and for visitors to explore, aligning with its mission to improve the overall economic well-being of the community. The principles of honesty, integrity, teamwork, and transparency that guide NDC's activities ensure trust and collaboration with the community and investors.
This information is meant to be a general summary of Newton 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.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $13,865
- Program Service Revenue: $106,607
- Gross Receipts: $242,748
Assets and Liabilities:
- Total Assets: $676,197
- Total Liabilities: $13,889
- Net Assets: $662,308
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$98,262
BUSINESS DEV COMMITTEE
Revenue
$1,725
MISC
Revenue
$195
ENGAGE COWORK
Revenue
$6,425
Organization Details
Founding Year
1951
Phone
(641) 787-8210Principal Officer
Jeff Price
Main Address
403 W 4TH ST N, NEWTON, IA, 50208
NTEE Category
Code: S40 - Community improvement
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