Overview
What is Mid-Cumberland Area Development Corp?
Mid-Cumberland Area Development Corp, located in Nashville, Tennessee, serves as a catalyst for industrial and commercial development, small business growth, and job creation in the greater Nashville region. This nonprofit organization administers small business loans through the Intermediary Relending Program and packages and services certain Small Business Administration (SBA) loans, functioning as a Certified Development Corporation. The primary mission of Mid-Cumberland Area Development Corp is to actively encourage, assist, and promote economic development and small business advancement, contributing to the regional job market in Tennessee.
Official website here: www.madc.us
Is Mid-Cumberland Area Development Corp legitimate?
Mid-Cumberland Area Development Corp is a legitimate nonprofit organization registered as a 501(c)(4) entity. Mid-Cumberland Area Development Corp 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.madc.us
What is the mission statement of Mid-Cumberland Area Development Corp?
The Mid-Cumberland Area Development Corp is geared towards fostering and encouraging industrial and commercial development, as well as small business growth, with a focus on job creation in the greater Nashville region of Tennessee. The organization plays a significant role in administering small business loans through the Intermediary Relending Program and also packages and services certain Small Business Administration (SBA) loans as a Certified Development Corporation. In essence, Mid-Cumberland Area Development Corp serves to stimulate economic growth and development in the specified region.
Official website here: www.madc.us
Who is the CEO of Mid-Cumberland Area Development Corp?
Mark Beeler is the Director of Mid-Cumberland Area Development Corp.
Official website here: www.madc.us
What is the revenue of Mid-Cumberland Area Development Corp?
Mid-Cumberland Area Development Corp's revenue in 2022 was $133,142.
Official website here: www.madc.us
Who are the executives of Mid-Cumberland Area Development Corp and what are their salaries?
Here are 11 key members and their salaries:
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Official website here: www.madc.us
Where can I find the form 990 for Mid-Cumberland Area Development Corp?
Mid-Cumberland Area Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.madc.us
Learn more at the official website: www.madc.us
Mission Statement of Mid-Cumberland Area Development Corp
Mid-Cumberland Area Development Corp, abbreviated as MADC, is specifically organized to encourage, assist, and promote industrial and commercial development, as well as small business development and job creation, in the greater Nashville region of Tennessee. The corporation's mission is multifaceted, encompassing various aspects of economic growth and development. It actively engages in encouraging and facilitating industries and businesses to establish or expand their operations in the region, thereby creating new employment opportunities.
MADC's role extends beyond just fostering business growth. It also aids in small business development by administering small business loans through the Intermediary Relending Program. In addition, the corporation serves as a Certified Development Corporation, responsible for packaging and servicing certain Small Business Administration (SBA) loans. This dual role in small business finance allows MADC to make a significant impact on the local entrepreneurial landscape. By providing loans and financial services, it empowers small businesses to grow and create jobs, thereby contributing to the overall economic development of the region.
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Impact
October, 2024
The Mid-Cumberland Area Development Corp (MADC) significantly impacts the Greater Nashville region by driving industrial and commercial development, bolstering small businesses, and fostering job creation. By administering small business loans through the Intermediary Relending Program and packaging specific SBA loans, MADC provides critical financial resources that empower entrepreneurs and stimulate economic growth. Their efforts not only enhance local commerce but also contribute to the overall improvement of the community, making Nashville a more vibrant and thriving area for residents and businesses alike.
This information is meant to be a general summary of Mid-Cumberland Area Development Corp. 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: $5,118
- Program Service Revenue: $128,024
- Gross Receipts: $133,142
Assets and Liabilities:
- Total Assets: $1,824,407
- Total Liabilities: $328,599
- Net Assets: $1,495,808
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN FEES
Revenue
$118,653
INTEREST FROM LOANS
Revenue
$9,371
Organization Details
Founding Year
1982
Phone
(615) 862-8828Principal Officer
Mark Beeler
Main Address
44 VANTAGE WAY SUITE 450, NASHVILLE, TN, 37228
Website
www.madc.usNTEE Category
Code: S31 - Community improvement
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