Overview
What is Madison Region Economic Partnership?
Madison Region Economic Partnership is a nonprofit organization located at 8517 Excelsior Drive, Madison, Wisconsin. Their primary mission is to protect, leverage, and accelerate the growth of the region's strongest economic opportunities. They accomplish this by supporting existing companies and key sectors, with a focus on capital growth and sector development. Their initiatives include a revolving loan fund, an economic development district (EDD), and a comprehensive economic development strategy (CEDS). The CEDS involves strategy committees, input sessions, and investment receptions to facilitate and support collaborative regional efforts that preserve and enhance the region's quality of life. The organization has a staff of eight individuals committed to this mission.
Official website here: www.madisonregion.org
Is Madison Region Economic Partnership legitimate?
Madison Region Economic Partnership is a legitimate nonprofit organization registered as a 501(c)(6) entity. Madison Region Economic Partnership 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $122,398
Professional Fundraising Fees: $0
Other Salaries and Wages: $538,890
For more financial information, click here
Official website here: www.madisonregion.org
What is the mission statement of Madison Region Economic Partnership?
The Madison Region Economic Partnership's mission is geared towards preserving and enhancing the quality of life in its region by protecting and accelerating the growth of its strongest economic opportunities. This is achieved through facilitating and supporting collaborative regional efforts. The organization's primary focus is on new job and investment growth, which is primarily driven by the expansion of existing companies. To achieve this, they have two main initiatives: Capital Growth and Sector Development. The Capital Growth initiative includes a Revolving Loan Fund and Economic Development District (EDD), while the Sector Development initiative involves a Comprehensive Economic Development Strategy (CEDS) with strategy committees, input sessions, and an investment reception. The communications aspect of their work is also crucial in spreading their message and influence.
Official website here: www.madisonregion.org
What is the revenue of Madison Region Economic Partnership?
Madison Region Economic Partnership's revenue in 2023 was $3,733,917.
Official website here: www.madisonregion.org
Who are the executives of Madison Region Economic Partnership and what are their salaries?
The average compensation at Madison Region Economic Partnership during 2023 was $60,117. There are 11 employees at Madison Region Economic Partnership.
Here are 34 key members and their salaries:
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Official website here: www.madisonregion.org
Where can I find the form 990 for Madison Region Economic Partnership?
Madison Region Economic Partnership's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.madisonregion.org
Learn more at the official website: www.madisonregion.org
Mission Statement of Madison Region Economic Partnership
Madison Region Economic Partnership is a dedicated organization with a mission to safeguard, amplify, and accelerate the growth of the region's strongest economic opportunities. Their goal is to facilitate and support collaborative regional efforts that preserve and enhance the quality of life. In essence, they aim to expand existing companies and key sectors, which forms the foundation for long-term economic development. This is achieved through two primary initiatives: Capital Growth and Sector Development.
Under the Capital Growth initiative, Madison Region Economic Partnership invests in local businesses through programs like the Revolving Loan Fund and Economic Development District (EDD). The EDD provides financial assistance and resources to stimulate economic growth and job creation. Additionally, they support the development of key sectors, which is crucial for the region's long-term economic health.
In the Sector Development initiative, they implement a Comprehensive Economic Development Strategy (CEDS). This strategy involves several components, including a strategy committee that sets the overall direction, input sessions to gather local insights, and an investment reception to attract external investment. Furthermore, they conduct comprehensive communications to promote the region's economic development efforts and attract new opportunities.
In summary, Madison Region Economic Partnership is an organization that works to protect, leverage, and accelerate the region's economic opportunities, facilitating collaborative efforts to enhance the quality of life. They do this by supporting existing companies, attracting investment, and implementing a comprehensive economic development strategy.
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Impact
October, 2024
The Madison Region Economic Partnership significantly impacts local economic growth by focusing on the expansion of existing businesses and key sectors. By protecting, leveraging, and accelerating economic opportunities, it fosters job creation and attracts investment. The partnership’s two primary initiatives—Capital Growth and Sector Development—serve as the backbone of its strategy.
Capital Growth initiatives include managing a revolving loan fund and establishing economic development districts, which provide essential financial resources for business expansion. On the other hand, the Sector Development initiative focuses on crafting a Comprehensive Economic Development Strategy (CEDS), engaging stakeholders through strategy committees, input sessions, and communication efforts to ensure a collaborative approach.
By enhancing the strength and sustainability of the region’s distinct economic drivers, the partnership not only boosts current factories and businesses but also enriches the overall quality of life in Madison, ensuring that growth benefits the entire community.
This information is meant to be a general summary of Madison Region Economic Partnership. 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: $11,700
- Program Service Revenue: $71,964
- Gross Receipts: $3,733,917
Assets and Liabilities:
- Total Assets: $3,172,458
- Total Liabilities: $2,428,703
- Net Assets: $743,755
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM EVENT REVENUE
Revenue
$71,964
Organization Details
Founding Year
2006
Principal Officer
Jason Fields
Website
www.madisonregion.orgNTEE Category
Code: S30 - Community improvement
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