Overview
What is Pierre Economic Development Corporation?
The Pierre Economic Development Corporation is a nonprofit organization situated in Pierre, South Dakota. Its primary objective is to foster business growth in the area by providing rented spaces and assisting businesses in securing loans to commence or expand their operations. The corporation generates income through rental agreements, which are utilized to repay debts incurred for constructing new facilities and enhancing existing ones, thereby attracting more businesses and conventions to the region. The organization plays a crucial role in shaping the economic landscape of Pierre by promoting development and encouraging new business ventures.
Is Pierre Economic Development Corporation legitimate?
Pierre Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Pierre Economic 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: $106,665
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of Pierre Economic Development Corporation?
The Pierre Economic Development Corporation was established with a mission to foster the growth of new businesses in the area. This is achieved by holding developed lots for rent and offering assistance to businesses in securing loans to commence or continue operations. The corporation's activities contribute to the promotion of the community by expanding existing facilities or establishing new ones to attract new businesses and conventions. This involves constructing new facilities to accommodate expanding businesses and renovating existing ones to stimulate business growth in the area. The corporation generates revenue through rental agreements, which are utilized to pay off debts incurred for building new facilities and improving existing ones to attract business expansion.
Who is the CEO of Pierre Economic Development Corporation?
Jim Protexter is the Chief Operating Officer of Pierre Economic Development Corporation.
What is the revenue of Pierre Economic Development Corporation?
Pierre Economic Development Corporation's revenue in 2022 was $303,470.
Who are the executives of Pierre Economic Development Corporation and what are their salaries?
The average compensation at Pierre Economic Development Corporation during 2022 was $106,665. There is 1 employee at Pierre Economic Development Corporation.
Here are 13 key members and their salaries:
- Compensation: $106,665
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Where can I find the form 990 for Pierre Economic Development Corporation?
Pierre Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Pierre Economic Development Corporation
Pierre Economic Development Corporation, established with the objective to promote business growth in the area, fulfills its mission by holding developed lots for rent and assisting businesses in obtaining loans to commence or continue operations. The corporation's primary goal is to expand the Pierre community by either improving existing facilities or promoting the establishment of new ones, attracting new businesses and conventions to the area. This mission is funded through rental agreements, which in turn, allows the corporation to pay off debts incurred for building new facilities and improving existing ones, thereby stimulating business growth in Pierre.
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Impact
October, 2024
The Pierre Economic Development Corporation significantly impacts the Pierre community by fostering business growth and economic development. By holding developed lots for rent, it provides a crucial foundation for new and expanding businesses seeking operational space. This initiative not only creates job opportunities but also enhances the local economy.
Additionally, the organization assists businesses in securing loans, which facilitates their establishment and sustainability. This support enables local enterprises to thrive, driving further investment in the community. The rental income generated from these lots is strategically reinvested into the community, allowing for the construction of new facilities and the improvement of existing ones. This proactive approach not only attracts new businesses but also draws conventions to the area, amplifying its economic vibrancy.
Through its efforts, the Pierre Economic Development Corporation plays an essential role in expanding facilities and promoting new ventures, ensuring a dynamic and resilient economic landscape for Pierre, South Dakota.
This information is meant to be a general summary of Pierre Economic 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: $8,424
- Gross Receipts: $303,470
Assets and Liabilities:
- Total Assets: $2,133,370
- Total Liabilities: $938,584
- Net Assets: $1,194,786
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Organization Details
Founding Year
1983
Phone
(605) 224-6610Principal Officer
Jim Protexter
Main Address
PO BOX 548, PIERRE, SD, 57501
NTEE Category
Code: S30 - Community improvement
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