Overview
What is Northeast Tennessee Economic Development Corporation?
The Northeast Tennessee Economic Development Corporation, situated in Johnson City, Tennessee, is a nonprofit organization committed to fostering economic growth. They achieve this by establishing various loan funds and programs, offering fixed and permanent working capital financing to businesses. Since its inception, the corporation has extended 123 loans amounting to $8.5 million, thereby creating employment opportunities in the region. The organization's primary mission is to promote economic development, providing essential loan programs to local businesses.
Official website here: www.netedc.org
What do the Facebook reviews say about Northeast Tennessee Economic Development Corporation?
88% of 21 reviewers on Facebook recommend the Northeast Tennessee Economic Development Corporation. Here’s a summary of their insights:
Many reviewers express a strong sense of support for the local initiatives promoted by the nonprofit, praising the organization's efforts to stimulate economic growth in the region. One reviewer specifically highlights the outstanding work of a staff member, Mark, which adds a personal touch to the connection users feel with the organization.
Overall, the sentiment towards the Northeast Tennessee Economic Development Corporation is positive, with many appreciating the commitment to local development and community welfare. This enthusiasm suggests that the nonprofit is succeeding in its mission to foster economic opportunities in Northeast Tennessee.
This AI summary has been generated from reviews found on Facebook.
Is Northeast Tennessee Economic Development Corporation legitimate?
Northeast Tennessee Economic Development Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Northeast Tennessee 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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Official website here: www.netedc.org
What is the mission statement of Northeast Tennessee Economic Development Corporation?
The Northeast Tennessee Economic Development Corporation was established with a mission to foster economic growth. This is achieved by offering loan programs to businesses, serving as a tool to support local enterprises with their financial needs. Through various loan funds and initiatives, the corporation has provided assistance to 123 businesses, resulting in fixed and permanent working capital financing amounting to $8.5 million. As a result, these businesses have contributed to job creation in the region.
Official website here: www.netedc.org
Who is the CEO of Northeast Tennessee Economic Development Corporation?
Ken Rea is the Director of Northeast Tennessee Economic Development Corporation.
Official website here: www.netedc.org
What is the revenue of Northeast Tennessee Economic Development Corporation?
Northeast Tennessee Economic Development Corporation's revenue in 2023 was $110,233.
Official website here: www.netedc.org
Who are the executives of Northeast Tennessee Economic Development Corporation and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.netedc.org
Where can I find the form 990 for Northeast Tennessee Economic Development Corporation?
Northeast Tennessee Economic Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.netedc.org
Learn more at the official website: www.netedc.org
Mission Statement of Northeast Tennessee Economic Development Corporation
The Northeast Tennessee Economic Development Corporation, in its mission, is geared towards promoting economic development in the region. This is achieved primarily through the provision of loan programs for businesses. The organization has established various loan funds and programs to assist businesses in the region, offering fixed and permanent working capital financing. Through these initiatives, the NE Tennessee Economic Development Corporation has extended 123 loans, totaling $8.5 million, which have resulted in the creation of jobs in the region.
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Impact
October, 2024
Northeast Tennessee Economic Development Corporation significantly impacts the region by fostering economic growth through targeted loan programs designed for businesses. With a focus on providing fixed and permanent working capital financing, the organization has successfully established multiple loan funds that cater to various business needs.
To date, NETEDC has facilitated 123 loans totaling $8.5 million, directly contributing to job creation and economic vitality in the area. These investments not only support local enterprises but also stimulate community improvement, enhancing the overall quality of life in Johnson City and the surrounding regions. By empowering businesses with the necessary financial resources, NETEDC plays a crucial role in driving sustainable economic development in Northeast Tennessee.
This information is meant to be a general summary of Northeast Tennessee 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 2023.
- Investment Income: $8,329
- Program Service Revenue: $101,904
- Gross Receipts: $110,233
Assets and Liabilities:
- Total Assets: $3,338,754
- Total Liabilities: $1,011,770
- Net Assets: $2,326,984
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE REVENU
Revenue
$101,904
Organization Details
Founding Year
1982
Phone
(423) 928-0224Principal Officer
Ken Rea
Main Address
3211 N ROAN STREET, JOHNSON CITY, TN, 376011213
Website
www.netedc.orgNTEE Category
Code: S30 - Community improvement
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