Overview
What is Aberdeen Development Corporation?
Aberdeen Development Corporation is a nonprofit organization situated in Aberdeen, South Dakota, specifically at 506 S Main St Ste 2. Established with the purpose of promoting business development, the corporation actively recruits new businesses and works towards retaining and expanding existing ones in Brown County and its surrounding areas. This is achieved through the dissemination of information and the management of development sites, which they build, sell, or lease. Furthermore, the corporation has expanded its mission to include entrepreneurial support and labor retention and recruitment, demonstrating its commitment to the local economy. With a total workforce of 4 individuals, Aberdeen Development Corporation plays a significant role in fostering economic growth and opportunity in the region.
Official website here: www.adcsd.com
Is Aberdeen Development Corporation legitimate?
Aberdeen Development Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Aberdeen 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: $187,808
Professional Fundraising Fees: $0
Other Salaries and Wages: $116,082
For more financial information, click here
Official website here: www.adcsd.com
What is the mission statement of Aberdeen Development Corporation?
The Aberdeen Development Corporation, established with the aim of fostering growth, was formed to encourage and promote various types of businesses in a broader area, not just limiting it to Aberdeen. Its primary mission is to attract, retain, and support existing businesses to enhance economic opportunities within its region. The corporation achieves this by disseminating information about the area, marketing development sites for sale or lease, and offering entrepreneurial support. Additionally, the corporation expanded its focus to include labor retention and recruitment, demonstrating its commitment to the overall economic development of its region.
Official website here: www.adcsd.com
Who is the CEO of Aberdeen Development Corporation?
Michael Bockorny is the Chair of Aberdeen Development Corporation. The CEO's salary of Aberdeen Development Corporation is $163,047 and their total compensation is $188,236.
Official website here: www.adcsd.com
What is the revenue of Aberdeen Development Corporation?
Aberdeen Development Corporation's revenue in 2022 was $1,606,263.
Official website here: www.adcsd.com
Who are the executives of Aberdeen Development Corporation and what are their salaries?
The average compensation at Aberdeen Development Corporation during 2022 was $75,972. There are 4 employees and 20 volunteers at Aberdeen Development Corporation.
Here are 15 key members and their salaries (Aberdeen Development Corporation's CEO's salary is $163,047 and their total compensation is $188,236):
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- Compensation: $163,047
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- Other: $25,189
Official website here: www.adcsd.com
Where can I find the form 990 for Aberdeen Development Corporation?
Aberdeen Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.adcsd.com
Learn more at the official website: www.adcsd.com
Mission Statement of Aberdeen Development Corporation
Aberdeen Development Corporation, a pioneering organization, was established with the primary aim of stimulating and fostering the growth of various businesses, including industrial and commercial enterprises, within its local region and beyond. The corporation's mission is multifaceted, encompassing the recruitment of new businesses, the retention and expansion of existing ones, and the provision of entrepreneurial support. By disseminating pertinent information and constructing, marketing, and leasing development sites, Aberdeen Development Corporation works tirelessly to promote the region as an attractive business destination. Additionally, the corporation places a strong emphasis on labor retention and recruitment, recognizing the importance of a skilled and dedicated workforce in driving economic growth.
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Impact
October, 2024
Aberdeen Development Corporation has significantly impacted the economic landscape of Brown County, South Dakota, and its surrounding areas by focusing on industrial and commercial growth. The organization's efforts in recruiting new businesses, alongside the retention and expansion of existing enterprises, have fostered a vibrant economic environment. Through effective promotion of the region and strategic disbursement of information, it has attracted investment and interest to Aberdeen.
The corporation’s initiatives extend to the building, selling, and leasing of development sites, which are key factors in facilitating business operations and attracting new ventures. By placing a strong emphasis on entrepreneurial support, Aberdeen Development Corporation nurtures local startups and encourages innovation, which is crucial for sustainable economic growth.
Additionally, the focus on labor retention and recruitment helps address workforce challenges, ensuring that businesses have access to a skilled labor pool. Overall, Aberdeen Development Corporation plays a vital role in enhancing economic opportunities, promoting community improvement, and driving the overall prosperity of the region.
This information is meant to be a general summary of Aberdeen 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: $1,236,697
- Program Service Revenue: $236,461
- Gross Receipts: $9,606,222
Assets and Liabilities:
- Total Assets: $12,144,487
- Total Liabilities: $2,413,319
- Net Assets: $9,731,168
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Interest Income - Contracts
Revenue
$137,567
Industrial Park Rental Income
Revenue
$98,894
Organization Details
Founding Year
1955
Phone
(605) 229-5335Principal Officer
Michael Bockorny
Main Address
506 S Main St Ste 2, Aberdeen, SD, 57401
Website
www.adcsd.comNTEE Category
Code: S31 - Community improvement
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