Overview
What is Northwest Ohio Development Assistance Corporation?
Northwest Ohio Development Assistance Corporation, or NODAC, is a certified development company established in 1993. Located in Toledo, Ohio, NODAC's primary mission is to promote and support economic development within the state by administering, processing, and servicing Small Business Administration (SBA) 504 loans. This program enables businesses to acquire fixed assets with low down payments and long-term, fixed-interest rates, thereby fostering growth and expansion. NODAC's activities are centered around facilitating access to these loans, contributing to the overall economic development of Ohio.
Is Northwest Ohio Development Assistance Corporation legitimate?
Northwest Ohio Development Assistance Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Northwest Ohio Development Assistance 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 Northwest Ohio Development Assistance Corporation?
Northwest Ohio Development Assistance Corporation, established in 1993, serves as a Certified Development Company. Its primary mission is to manage the Small Business Administration (SBA) 504 loan program within Ohio. This program facilitates the acquisition of fixed assets by offering SBA loans with low down payments and long-term fixed interest rates. By administering, processing, and servicing these loans, NODAC aims to stimulate, encourage, and support economic development in the State of Ohio.
Who is the CEO of Northwest Ohio Development Assistance Corporation?
Hans Rosebrock is the Treasurer of Northwest Ohio Development Assistance Corporation.
What is the revenue of Northwest Ohio Development Assistance Corporation?
Northwest Ohio Development Assistance Corporation's revenue in 2022 was $243,313.
Who are the executives of Northwest Ohio Development Assistance Corporation and what are their salaries?
Here are 15 key members and their salaries:
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Where can I find the form 990 for Northwest Ohio Development Assistance Corporation?
Northwest Ohio Development Assistance Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Northwest Ohio Development Assistance Corporation
Northwest Ohio Development Assistance Corporation, abbreviated as NODAC, was established in 1993 with a mission to oversee the Small Business Administration (SBA) 504 loan program within the state of Ohio. This organization's primary objective is to facilitate the acquisition of fixed assets by businesses, allowing for lower down payments and long-term, fixed interest rates. By administering and processing these SBA 504 loans, NODAC aims to stimulate, encourage, and support economic development across Ohio. Through its services, NODAC plays a crucial role in promoting and fostering growth within the state's business sector.
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Impact
October, 2024
Northwest Ohio Development Assistance Corporation (NODAC) plays a significant role in the economic development of Ohio by administering the SBA 504 loan program. This initiative supports businesses in acquiring fixed assets by providing access to loans with low down payments and long-term fixed interest rates. By facilitating these loans, NODAC not only promotes business growth but also contributes directly to job creation and community improvement within the region. Since its establishment in 1993, NODAC's efforts have fostered a more vibrant economic landscape in Toledo and across the state, encouraging entrepreneurship and strengthening local businesses. The impact of NODAC can be seen in the enhanced stability and growth of the Ohio economy, driven by the success of the businesses it serves.
This information is meant to be a general summary of Northwest Ohio Development Assistance 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: $25,017
- Program Service Revenue: $218,296
- Gross Receipts: $243,313
Assets and Liabilities:
- Total Assets: $637,623
- Total Liabilities: $178,000
- Net Assets: $459,623
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Loan servicing fees
Revenue
$201,779
Loan processing fees
Revenue
$16,517
Organization Details
Founding Year
1993
Phone
(419) 243-8251Principal Officer
Hans Rosebrock
Main Address
One Maritime Plaza 7th Floor, Toledo, OH, 43604
NTEE Category
Code: S30 - Community improvement
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