Overview
What is Southeast Mississippi Community Investment Corporation?
The Southeast Mississippi Community Investment Corporation, based in Hattiesburg, Mississippi, is a nonprofit organization dedicated to supporting small and minority-owned businesses in the region. Throughout 2021, they provided marketing materials to approximately 40 entrepreneurs and serviced a total of 9 new and existing loans. Their primary mission is to offer low-interest loans and loan guarantees, aiming to stimulate business growth and development in Southeast Mississippi.
Is Southeast Mississippi Community Investment Corporation legitimate?
Southeast Mississippi Community Investment Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Southeast Mississippi Community Investment 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 Southeast Mississippi Community Investment Corporation?
The Southeast Mississippi Community Investment Corporation's mission is centered around providing financial assistance to small and minority-owned businesses. Specifically, they offer low-interest loans and loan guarantees to support these enterprises. In 2021, they also distributed marketing materials to approximately 40 small business entrepreneurs and served a total of 9 new and existing loans.
Who is the CEO of Southeast Mississippi Community Investment Corporation?
Chad Newell is the Bank Representative of Southeast Mississippi Community Investment Corporation.
What is the revenue of Southeast Mississippi Community Investment Corporation?
Southeast Mississippi Community Investment Corporation's revenue in 2022 was $10,500.
Who are the executives of Southeast Mississippi Community Investment Corporation and what are their salaries?
Here are 14 key members and their salaries:
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Where can I find the form 990 for Southeast Mississippi Community Investment Corporation?
Southeast Mississippi Community Investment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Southeast Mississippi Community Investment Corporation
Southeast Mississippi Community Investment Corporation, abbreviated as SEMCIC, is a nonprofit organization with a mission centered around providing financial assistance to small and minority businesses. Specifically, SEMCIC offers low-interest loans and loan guarantees to these businesses. The primary goal of this mission is to support the growth and sustainability of these enterprises, thereby contributing to the economic development of the community at large.
In 2021, SEMCIC demonstrated its commitment to this mission by providing marketing materials to approximately 40 small business entrepreneurs. Moreover, the organization serviced a total of 9 new and existing loans during the same year. This activity reflects SEMCIC's proactive approach to supporting the businesses it serves, providing them with essential resources and tools to navigate their entrepreneurial journeys. By offering low-interest loans and loan guarantees, SEMCIC effectively reduces the financial burden on these businesses, allowing them to focus on their core operations and growth strategies. This mission, therefore, plays a crucial role in fostering a vibrant and inclusive business environment in the community.
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Impact
October, 2024
Southeast Mississippi Community Investment Corporation significantly impacts the region by providing low-interest loans and loan guarantees targeted at small and minority businesses. In 2021 alone, the organization supported approximately 40 small business entrepreneurs by supplying essential marketing materials. Additionally, it serviced a total of 9 new and existing loans, fostering growth and sustainability within the local economy. Located in Hattiesburg, Mississippi, SEMCIC plays a crucial role in community improvement by empowering businesses that contribute to the economic vitality of Southeast Mississippi.
This information is meant to be a general summary of Southeast Mississippi Community Investment 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: $507
- Program Service Revenue: $9,993
- Gross Receipts: $10,500
Assets and Liabilities:
- Total Assets: $1,239,553
- Total Liabilities: $14,434
- Net Assets: $1,225,119
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST REVENUE
Revenue
$8,147
MISC PROGRAM SERVICE R
Revenue
$1,643
LOAN CLOSING FEES
Revenue
$203
Organization Details
Founding Year
1993
Phone
(601) 296-7500Principal Officer
Chad Newell
Main Address
ONE CONVENTION CENTER PLAZA, HATTIESBURG, MS, 39401
NTEE Category
Code: S32 - Community improvement
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