Overview
What is Northeast South Dakota Economic Corporation?
The Northeast South Dakota Economic Corporation, often referred to as GROW South Dakota, is a nonprofit organization situated at 104 ASH STREET EAST, SISSETON, SD 57262. Their primary mission is to stimulate economic growth in the region by offering direct loans, technical support, and fostering partnerships. Through their Revolving Loan Program, they assist individuals who struggle to secure financing to establish or expand their businesses. In the recent fiscal period, they made 65 loans, totaling $6,573,414, leading to the creation of 256 local jobs. As of September 30, 2022, they had 239 outstanding loans, amounting to $21,165,034.
Official website here: www.growsd.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Stars)
The Northeast South Dakota Economic Corporation has achieved an impressive Four-Star rating from Charity Navigator, reflecting a perfect score in Accountability & Finance. This rating indicates a high level of organizational integrity and financial health, as the metrics used to calculate it showcase transparency and sound fiscal management practices.
Strengths of the organization include an entirely independent board, robust financial oversight mechanisms, and comprehensive policies in place to manage conflicts of interest and ensure whistleblower protections. The corporation also demonstrates strong financial performance, with a high program expense ratio, indicating that a significant portion of its resources is directed toward its mission-driven programs.
While the organization presents a strong financial profile and governance structure, it is essential for potential donors and stakeholders to consider the broader impact of its programs and services within the community. Overall, the Northeast South Dakota Economic Corporation stands out as a well-managed nonprofit committed to effective resource allocation.
This AI summary has been generated from information found on Charity Navigator.
Is Northeast South Dakota Economic Corporation legitimate?
Northeast South Dakota Economic Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northeast South Dakota Economic 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $385,744
For more financial information, click here
Official website here: www.growsd.org
What is the mission statement of Northeast South Dakota Economic Corporation?
The Northeast South Dakota Economic Corporation's mission is centered around stimulating economic opportunities. They achieve this objective by providing loans, offering technical support, and fostering partnerships. This organization's activities aim to assist individuals who might otherwise struggle to secure financing for starting or expanding their businesses. In the recent fiscal period, the corporation made 65 loans totaling $6,573,414, creating 256 jobs within the area. As of September 30, 2022, the corporation had 239 outstanding loans amounting to $21,165,034.
Official website here: www.growsd.org
Who is the CEO of Northeast South Dakota Economic Corporation?
Lori Finnesand is the Chief Execut of Northeast South Dakota Economic Corporation.
Official website here: www.growsd.org
What is the revenue of Northeast South Dakota Economic Corporation?
Northeast South Dakota Economic Corporation's revenue in 2022 was $2,763,514.
Official website here: www.growsd.org
Who are the executives of Northeast South Dakota Economic Corporation and what are their salaries?
There 15 volunteers at Northeast South Dakota Economic Corporation.
Here are 18 key members and their salaries:
- Compensation: $0
- Related: $139,697
- Other: $25,226
- Compensation: $0
- Related: $126,656
- Other: $36,867
- Compensation: $0
- Related: $116,925
- Other: $17,931
- Compensation: $0
- Related: $75,620
- Other: $7,166
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.growsd.org
Where can I find the form 990 for Northeast South Dakota Economic Corporation?
Northeast South Dakota Economic Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.growsd.org
Learn more at the official website: www.growsd.org
Mission Statement of Northeast South Dakota Economic Corporation
The Northeast South Dakota Economic Corporation, in its mission, aims to stimulate economic opportunities in the region. It accomplishes this by providing loans, technical support, and fostering partnerships. The organization's revolving loan program plays a significant role in this mission. By offering direct loans to individuals who may otherwise struggle to secure financing, the corporation enables the establishment and expansion of businesses. In the recent fiscal period, the Northeast South Dakota Economic Corporation made 65 loans, totaling $6,573,414, resulting in the creation of 256 area jobs. As of September 30, 2022, the corporation had 239 outstanding loans amounting to $21,165,034, continuing its commitment to economic development in the region.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
July, 2024
Northeast South Dakota Economic Corporation's impact can be seen in the economic growth and job creation it facilitates through its revolving loan program. In the fiscal period, NESDEC made 65 loans totaling $6,573,414, which resulted in the creation of 256 area jobs. As of September 30, 2022, NESDEC had 239 outstanding loans totaling $21,165,034. This demonstrates the organization's significant contribution to stimulating economic opportunities and supporting individuals who may otherwise struggle to obtain financing to start or expand their businesses in the Sisseton area of South Dakota.
This information is meant to be a general summary of Northeast South Dakota Economic 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: $30,437
- Program Service Revenue: $788,466
- Gross Receipts: $2,763,514
Assets and Liabilities:
- Total Assets: $28,795,164
- Total Liabilities: $9,470,463
- Net Assets: $19,324,701
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME - LOANS
Revenue
$776,132
FILING FEE
Revenue
$5,011
ESCROW & LOAN FEES
Revenue
$3,007
MISCELLANEOUS INCOME
Revenue
$2,855
LATE FEES
Revenue
$1,461
Organization Details
Founding Year
1978
Phone
(605) 698-7654Principal Officer
Lori Finnesand
Main Address
104 ASH STREET EAST, SISSETON, SD, 57262
Website
www.growsd.orgNTEE Category
Code: S430 - Community improvement
If you are a representative of Northeast South Dakota Economic Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.