Overview
What is Mitchell Area Development Corporation?
The Mitchell Area Development Corporation is a nonprofit organization situated in Mitchell, South Dakota, with a mission to foster economic growth in the region. They accomplish this by providing financial support to attract various businesses to the Mitchell area. This strategic move aims to generate new employment opportunities and strengthen the local economy. The organization has also acquired land for future prospects and commercial buildings to lease to tenants, contributing to the region's commercial development.
Official website here: www.mitchellsd.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 63%, Two-Star out of Four Star rating.
Mitchell Area Development Corporation has received a score of 63%, which reflects a moderate level of accountability and financial health. The organization has demonstrated strengths in maintaining an independent board, with all members meeting the independence criteria. Additionally, they have a clear conflict of interest policy and are transparent about their financial documents, including board meeting minutes.
However, there are notable weaknesses that have impacted their overall rating. The absence of a whistleblower policy and a document retention and destruction policy has raised concerns about governance practices. Furthermore, the program expense ratio is relatively low at 54.19%, indicating that less than half of its expenses are directed towards its programs, which may affect its effectiveness in fulfilling its mission. These factors contribute to the organization's overall two-star rating, suggesting areas for improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Mitchell Area Development Corporation legitimate?
Mitchell Area Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mitchell Area 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:
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Other Salaries and Wages: $275,974
For more financial information, click here
Official website here: www.mitchellsd.org
What is the mission statement of Mitchell Area Development Corporation?
The Mitchell Area Development Corporation is dedicated to fostering economic growth. Their primary objective is to promote economic development within their operational area. To achieve this, they provide financial assistance to attract various businesses, thereby creating new job opportunities and enhancing the local economy. The organization has also acquired land for future prospects and buildings to lease to commercial tenants, further contributing to the economic development of the area.
Official website here: www.mitchellsd.org
Who is the CEO of Mitchell Area Development Corporation?
Geri Beck is the Exec Director of Mitchell Area Development Corporation.
Official website here: www.mitchellsd.org
What is the revenue of Mitchell Area Development Corporation?
Mitchell Area Development Corporation's revenue in 2022 was $530,993.
Official website here: www.mitchellsd.org
Who are the executives of Mitchell Area Development Corporation and what are their salaries?
Here are 18 key members and their salaries:
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Official website here: www.mitchellsd.org
Where can I find the form 990 for Mitchell Area Development Corporation?
Mitchell Area Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mitchellsd.org
Learn more at the official website: www.mitchellsd.org
Mission Statement of Mitchell Area Development Corporation
The Mitchell Area Development Corporation, a nonprofit organization, is dedicated to fostering economic growth in its vicinity. Its primary mission is to promote economic development within the Mitchell area. To achieve this goal, the corporation undertakes various program services that aim to attract different businesses to the region. By recruiting businesses, the organization hopes to create new job opportunities and enhance the local economic base. The organization also plays a role in providing funding, securing land for future prospects, and acquiring buildings to lease to commercial tenants. These initiatives contribute to the overall economic development of the Mitchell area, ultimately benefiting the local community.
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Impact
July, 2024
Mitchell Area Development Corporation plays a crucial role in promoting economic development in the Mitchell, SD area. Through its program services, the organization actively works to recruit various businesses to the region with the aim of creating new jobs and enhancing the local economic base. The organization's efforts include acquiring land for future development opportunities and procuring buildings to lease to commercial tenants. By focusing on community improvement and fostering economic growth, Mitchell Area Development Corporation positively impacts the local economy and contributes to the overall prosperity of the region.
This information is meant to be a general summary of Mitchell Area 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: $41,805
- Gross Receipts: $676,075
Assets and Liabilities:
- Total Assets: $4,367,187
- Total Liabilities: $315,262
- Net Assets: $4,051,925
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Organization Details
Founding Year
1985
Phone
(605) 996-1140Principal Officer
Geri Beck
Main Address
601 N MAIN ST, MITCHELL, SD, 57301
Website
www.mitchellsd.orgNTEE Category
Code: S31Z - Community improvement
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