Overview
What is First District Development Company?
The First District Development Company, located in Watertown, South Dakota, serves as a resource for businesses seeking assistance with obtaining Small Business Administration (SBA) loans through the 503/504 program. This nonprofit organization provides valuable consultation to loan applicants, aiding them in the preparation of necessary documents. The company's mission is to support small businesses in the district, contributing to local economic growth and development.
Official website here: www.1stdistrict.org
Is First District Development Company legitimate?
First District Development Company is a legitimate nonprofit organization registered as a 501(c)(3) entity. First District Development Company 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.
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Other Salaries and Wages: $205,647
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Official website here: www.1stdistrict.org
What is the mission statement of First District Development Company?
The First District Development Company's mission revolves around providing assistance and consultation to loan applicants. This mission is carried out through their involvement with the Small Business Administration 503/504 Program. They aid businesses by guiding them in the preparation of necessary documents for securing SBA loans. This contribution is instrumental in supporting the growth and expansion of various enterprises.
Official website here: www.1stdistrict.org
Who is the CEO of First District Development Company?
Amy Waite is the Director of First District Development Company.
Official website here: www.1stdistrict.org
What is the revenue of First District Development Company?
First District Development Company's revenue in 2022 was $430,953.
Official website here: www.1stdistrict.org
Who are the executives of First District Development Company and what are their salaries?
Here are 12 key members and their salaries:
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Official website here: www.1stdistrict.org
Where can I find the form 990 for First District Development Company?
First District Development Company's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.1stdistrict.org
Learn more at the official website: www.1stdistrict.org
Mission Statement of First District Development Company
First District Development Company, as stated in its mission, is dedicated to providing assistance and consultation to loan applicants. This nonprofit organization operates under the Small Business Administration 503/504 Program, which allows it to help businesses by aiding them in the preparation of necessary documents required to obtain SBA loans. In essence, the company serves as a guiding force for businesses seeking financial assistance, offering valuable advice and guidance throughout the loan application process.
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Impact
October, 2024
First District Development Company plays a crucial role in empowering local businesses by offering essential assistance and consultation to loan applicants. Through the Small Business Administration (SBA) 503/504 program, they facilitate the preparation of necessary documents, enabling businesses to access vital funding. This support not only helps entrepreneurs secure loans but also fosters economic growth and community improvement in Watertown, South Dakota. By enhancing access to financing, the organization strengthens the local economy and encourages the development of small businesses, which are key drivers of job creation and innovation.
This information is meant to be a general summary of First District Development Company. 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: $13,060
- Program Service Revenue: $417,893
- Gross Receipts: $430,953
Assets and Liabilities:
- Total Assets: $3,325,748
- Total Liabilities: $533,770
- Net Assets: $2,791,978
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICING INCOME
Revenue
$252,634
SBA LOAN FEES
Revenue
$117,498
INTEREST ON INSTALLMENT LOANS
Revenue
$28,017
FLOAT INTEREST
Revenue
$11,582
LOAN PROCESSING FEES
Revenue
$8,162
Organization Details
Founding Year
1982
Phone
(605) 882-5115Principal Officer
Amy Waite
Main Address
418 18TH AVE NE PO BOX 1207, WATERTOWN, SD, 572016207
Website
www.1stdistrict.orgNTEE Category
Code: S43Z - Community improvement
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