Overview
What is City Of Spartanburg Development Corporation?
The City of Spartanburg Development Corporation is a community-focused organization based in Spartanburg, South Carolina. Its primary mission is to catalyze economic growth within the city by funding various projects and offering loans to small businesses. In collaboration with community development entities, the corporation utilizes New Market Tax Credits to revitalize neighborhoods, such as the Northside, and enhance services for residents. Notably, the corporation played a significant role in constructing the T.K. Gregg Community Center, hosting athletic and recreational events, and attracting visitors. In July 2021, the corporation partnered with a joint project to establish a grocery store in Spartanburg's Southside, addressing low supermarket availability in the area. Overall, the City of Spartanburg Development Corporation contributes to the city's economic development by promoting and supporting business growth.
Is City Of Spartanburg Development Corporation legitimate?
City Of Spartanburg Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. City Of Spartanburg 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 City Of Spartanburg Development Corporation?
The City of Spartanburg Development Corporation's mission is centered around promoting economic development within the city. This is achieved by assisting in the growth of various business concerns, including small businesses. The corporation's goal is to alleviate unemployment, combat community deterioration, increase employment opportunities, and expand the business sector in Spartanburg. By doing so, the corporation aims to benefit the community as a whole.
Who is the CEO of City Of Spartanburg Development Corporation?
Dennis Locke is the President of City Of Spartanburg Development Corporation.
What is the revenue of City Of Spartanburg Development Corporation?
City Of Spartanburg Development Corporation's revenue in 2022 was $700,863.
Who are the executives of City Of Spartanburg Development Corporation and what are their salaries?
Here are 8 key members and their salaries:
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Where can I find the form 990 for City Of Spartanburg Development Corporation?
City Of Spartanburg Development Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of City Of Spartanburg Development Corporation
The City of Spartanburg Development Corporation, a nonprofit entity, is committed to fostering economic development within Spartanburg. Its primary objective is to promote and aid in the expansion of various business concerns, including small businesses. By doing so, the corporation aims to alleviate unemployment, combat community deterioration, increase employment opportunities, and expand business within the city of Spartanburg. This mission ultimately benefits the community as a whole. The Corporation operates under the belief that its activities can contribute positively to the city's growth and well-being.
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Impact
October, 2024
The City of Spartanburg Development Corporation plays a pivotal role in fostering economic growth and community development within Spartanburg. By funding various community projects and offering loans to small businesses, the Corporation actively promotes development that enhances the local economy.
One of its significant initiatives includes facilitating the construction of the T.K. Gregg Community Center in the Northside community, aimed at revitalizing the area. This project not only improves local services but also creates facilities that host athletic and recreational events, drawing visitors and enhancing the community’s vibrancy.
Additionally, the Corporation is addressing food insecurity with a grocery store project in Spartanburg's Southside. This initiative targets neighborhoods with limited access to supermarkets, providing critical resources to residents who lack convenient grocery options.
Overall, the City of Spartanburg Development Corporation's efforts contribute to reducing unemployment, combating community deterioration, and expanding business opportunities, all of which serve to uplift and enrich the Spartanburg community.
This information is meant to be a general summary of City Of Spartanburg 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: $58,151
- Program Service Revenue: $140,505
- Gross Receipts: $1,504,363
Assets and Liabilities:
- Total Assets: $12,034,528
- Total Liabilities: $900,000
- Net Assets: $11,134,528
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST EARNED PROGRAM LOANS
Revenue
$140,505
Organization Details
Founding Year
1982
Phone
(864) 596-2909Principal Officer
Dennis Locke
Main Address
PO BOX 1749, SPARTANBURG, SC, 29304
NTEE Category
Code: S31 - Community improvement
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