Overview
What is Lake Country Development Corporation?
Lake Country Development Corporation serves as a nonprofit organization dedicated to facilitating economic growth in the community. Their primary focus is on administering economic development loans, specifically the EDA and Rural Development IRP/IDG loan programs. This year, they extended their support to local small businesses impacted by the COVID-19 pandemic, issuing recovery loans to ten businesses situated in South Hill, VA. Their mission aims to contribute positively to the local economy and promote sustainable business growth.
Is Lake Country Development Corporation legitimate?
Lake Country Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Lake Country 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 Lake Country Development Corporation?
Lake Country Development Corporation's primary mission involves administering economic development loans. Specifically, they manage programs like the EDA and Rural Development IRP/IDG loans. This year, they extended COVID recovery loans to ten local small businesses in their area. In essence, their role is to facilitate economic growth and recovery for businesses through loan programs.
Who is the CEO of Lake Country Development Corporation?
David Brankley is the President of Lake Country Development Corporation.
What is the revenue of Lake Country Development Corporation?
Lake Country Development Corporation's revenue in 2022 was $18,530.
Who are the executives of Lake Country Development Corporation and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Lake Country Development Corporation?
Lake Country Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Lake Country Development Corporation
Lake Country Development Corporation, as a nonprofit organization, is dedicated to administering economic development loans. Specifically, it manages programs such as the EDA and Rural Development IRP/IDG loan schemes. This year, the corporation has extended its support to local small businesses in South Hill, Virginia, by issuing COVID recovery loans to a total of ten businesses within the area. By providing these loans, Lake Country Development Corporation plays a crucial role in promoting economic growth and recovery in the community. The organization's mission is to foster business development and contribute to the overall economic well-being of the community, leveraging its expertise in loan administration to support eligible businesses in need.
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Impact
August, 2024
Lake Country Development Corporation's impact is significant in South Hill, VA, through its administration of economic development loans. This year, LCD issued COVID recovery loans to ten local small businesses, providing essential support and assistance during a difficult time for the community. By facilitating access to financial resources, LCD contributes to the stability and growth of businesses in the area, ultimately fostering economic development and improving the local economy.
This information is meant to be a general summary of Lake Country 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: $730
- Program Service Revenue: $17,800
- Gross Receipts: $18,530
Assets and Liabilities:
- Total Assets: $3,732,908
- Total Liabilities: $3,129,054
- Net Assets: $603,854
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENUE
Revenue
$17,800
Organization Details
Founding Year
1982
Phone
(434) 447-7101Principal Officer
David Brankley
Main Address
200 SOUTH MECKLENBURG AVE, SOUTH HILL, VA, 23970
NTEE Category
Code: S32Z - Community improvement
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