Overview
What is West River Foundation For Economic And Community Development?
The West River Foundation for Economic and Community Development, located in Sturgis, South Dakota (PO Box 605), is a nonprofit organization with a mission to stimulate business growth. They accomplish this by recruiting businesses from other states and expanding existing in-state businesses. A significant part of their work involves administering an economic development and re-lending program. With a team of five dedicated individuals, they aim to contribute positively to their community's economic landscape.
Official website here: www.wrbsc.com/
Is West River Foundation For Economic And Community Development legitimate?
West River Foundation For Economic And Community Development is a legitimate nonprofit organization registered as a 501(c)(6) entity. West River Foundation For Economic And Community Development 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: $69,600
Professional Fundraising Fees: $0
Other Salaries and Wages: $105,357
For more financial information, click here
Official website here: www.wrbsc.com/
What is the mission statement of West River Foundation For Economic And Community Development?
The West River Foundation for Economic and Community Development's mission involves recruiting businesses from other states and expanding existing in-state businesses. This is accomplished through the administration of an economic development and relending program. This initiative aims to stimulate economic growth and development in the community. By recruiting businesses from outside the region, the foundation contributes to a diverse and vibrant local economy. Additionally, the expansion of in-state businesses not only creates job opportunities but also strengthens the local business ecosystem. The economic development and relending program plays a crucial role in facilitating these activities, providing financial support and resources to businesses in need.
Official website here: www.wrbsc.com/
Who is the CEO of West River Foundation For Economic And Community Development?
Ronald Rosenboom is the President of West River Foundation For Economic And Community Development.
Official website here: www.wrbsc.com/
What is the revenue of West River Foundation For Economic And Community Development?
West River Foundation For Economic And Community Development's revenue in 2022 was $1,281,942.
Official website here: www.wrbsc.com/
Who are the executives of West River Foundation For Economic And Community Development and what are their salaries?
The average compensation at West River Foundation For Economic And Community Development during 2022 was $34,991. There are 5 employees at West River Foundation For Economic And Community Development.
Here are 6 key members and their salaries:
- Compensation: $4,000
- Related: $4,000
- Other: $0
- Compensation: $4,000
- Related: $4,000
- Other: $0
- Compensation: $4,000
- Related: $4,000
- Other: $0
- Compensation: $4,000
- Related: $4,000
- Other: $0
- Compensation: $4,000
- Related: $4,000
- Other: $0
- Compensation: $46,600
- Related: $47,990
- Other: $0
Official website here: www.wrbsc.com/
Where can I find the form 990 for West River Foundation For Economic And Community Development?
West River Foundation For Economic And Community Development's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wrbsc.com/
Learn more at the official website: www.wrbsc.com/
Mission Statement of West River Foundation For Economic And Community Development
The West River Foundation for Economic and Community Development is committed to a mission that involves recruiting businesses from outside their region and fostering the expansion of existing in-state businesses. They accomplish this goal by administering an economic development and re-lending program. This initiative aims to stimulate economic growth and development within their community, ultimately contributing to the overall well-being of the region. By recruiting businesses from other states and supporting the expansion of local businesses, the West River Foundation for Economic and Community Development plays a vital role in fostering economic diversification and development.
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Impact
October, 2024
West River Foundation for Economic and Community Development plays a vital role in enhancing the economic landscape of Sturgis, South Dakota, and the surrounding region. By focusing on recruiting businesses from other states and promoting the growth of local enterprises, the foundation actively fosters a more robust economic environment.
The organization administers an economic development and relending program designed to support both new and existing businesses. This initiative not only encourages investment in the local community but also helps in creating jobs and boosting the overall economic vitality of the area.
Through its efforts, the foundation contributes to community improvement by facilitating the establishment and expansion of businesses, promoting sustainable economic growth, and enhancing the quality of life for residents. Overall, its proactive approach is significant in building a stronger and more resilient local economy.
This information is meant to be a general summary of West River Foundation For Economic And Community Development. 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: $93,116
- Program Service Revenue: $925,822
- Gross Receipts: $1,297,692
Assets and Liabilities:
- Total Assets: $14,301,798
- Total Liabilities: $9,995,648
- Net Assets: $4,306,150
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$455,214
CONTRACT SERVICES
Revenue
$389,137
LOAN FEES
Revenue
$66,900
REVENUE FROM PROVISION
Revenue
$14,571
Organization Details
Founding Year
2000
Phone
(605) 347-4467Principal Officer
Ronald Rosenboom
Main Address
PO BOX 605, STURGIS, SD, 57785
Website
www.wrbsc.com/NTEE Category
Code: S30 - Community improvement
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