Overview
What is Canton Economic Development Corporation?
The Canton Economic Development Corporation, based in Canton, South Dakota, is a nonprofit organization with a mission to foster economic growth and development within the city and its surroundings. Their primary objective is to support the expansion of small businesses, industries, and residential growth in the area. To achieve this, they have taken an interest in loaning funds for the purchase of industrial park land, which is a strategic move to attract and accommodate new industries and businesses. This nonprofit plays a significant role in promoting the economic well-being of the community, contributing to its overall development and progress.
Is Canton Economic Development Corporation legitimate?
Canton Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Canton 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.
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What is the mission statement of Canton Economic Development Corporation?
The Canton Economic Development Corporation's mission is centered around promoting and facilitating the growth and development of various sectors within its jurisdiction. Its primary focus lies in supporting small businesses, industry, and residential growth. The organization strives to further economic development in its area, aiming to contribute positively to its local economy. An essential part of its mission involves offering financial assistance, as demonstrated by its interest in providing loans for the purchase of industrial park land.
Who is the CEO of Canton Economic Development Corporation?
Leon Eich is the President of Canton Economic Development Corporation.
What is the revenue of Canton Economic Development Corporation?
Canton Economic Development Corporation's revenue in 2022 was $489,478.
Who are the executives of Canton Economic Development Corporation and what are their salaries?
Here are 13 key members and their salaries:
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Where can I find the form 990 for Canton Economic Development Corporation?
Canton Economic Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Canton Economic Development Corporation
The Canton Economic Development Corporation, abbreviated as CEDC, is a nonprofit organization with a mission to drive the economic growth and development of its local area. Its primary goal is to foster the expansion of small businesses, industries, and residential growth within the city of Canton, South Dakota. This mission is achieved by promoting economic development initiatives and offering assistance to businesses and industries, contributing to the overall prosperity of the community. In addition, CEDC plays a significant role in supporting the growth of the city, ensuring a thriving and sustainable economic environment. A notable example of CEDC's activities is its interest in providing loans for the purchase of industrial park land. This financial support enables businesses to establish themselves in the industrial park, thereby contributing to the city's industrial growth and development.
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Impact
October, 2024
The Canton Economic Development Corporation plays a crucial role in enhancing the economic vitality of Canton, South Dakota, and its surrounding areas. By focusing on the growth and development of small businesses, industry, and residential sectors, the organization fosters a thriving community that attracts investment and job creation.
Through strategic initiatives, such as providing loans for the purchase of industrial park land, the Canton Economic Development Corporation facilitates the establishment of new businesses, which further stimulates local economic activity. Its efforts not only assist in expanding the local business landscape but also support the overall quality of life for residents by promoting community improvement and sustainable development. This targeted approach contributes to a robust economic environment that benefits both current inhabitants and potential newcomers to Canton.
This information is meant to be a general summary of Canton 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: $143,621
- Gross Receipts: $599,259
Assets and Liabilities:
- Total Assets: $1,019,670
- Total Liabilities: $336,630
- Net Assets: $683,040
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Organization Details
Founding Year
1993
Phone
(605) 987-7382Principal Officer
Leon Eich
Main Address
PO BOX 3, CANTON, SD, 57013
NTEE Category
Code: S30 - Community improvement
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