Overview
What is Metro Area Development Corporation?
Metro Area Development Corporation is a compact nonprofit organization located in Oklahoma City, Oklahoma. With only two dedicated employees, they specialize in packaging and processing loans for the U.S. Small Business Administration. Their primary mission is to support the growth and development of small businesses in the United States by facilitating loan applications and processing. This vital service plays a crucial role in promoting economic growth and job creation within local communities.
Official website here: www.madco.net
Is Metro Area Development Corporation legitimate?
Metro Area Development Corporation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Metro Area 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $211,600
For more financial information, click here
Official website here: www.madco.net
What is the mission statement of Metro Area Development Corporation?
The Metro Area Development Corporation's primary mission is to facilitate the packaging and processing of loans for the U.S. Small Business Administration. This role is crucial in supporting small businesses across the nation, providing them with the necessary financial resources to grow and thrive. The corporation's activities are geared towards streamlining the loan application process, thereby making it easier for small businesses to secure funding. By doing so, the corporation plays a significant role in promoting economic development and job creation within the communities it serves.
Official website here: www.madco.net
Who is the CEO of Metro Area Development Corporation?
Daniel Fitzpatrick is the Principal Officer of Metro Area Development Corporation.
Official website here: www.madco.net
What is the revenue of Metro Area Development Corporation?
Metro Area Development Corporation's revenue in 2021 was $240,207.
Official website here: www.madco.net
Who are the executives of Metro Area Development Corporation and what are their salaries?
The average compensation at Metro Area Development Corporation during 2021 was $105,800. There are 2 employees and 7 volunteers at Metro Area Development Corporation.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.madco.net
Where can I find the form 990 for Metro Area Development Corporation?
Metro Area Development Corporation's most recent form 990 was submitted in 2021 and can be accessed here.
Official website here: www.madco.net
Learn more at the official website: www.madco.net
Mission Statement of Metro Area Development Corporation
Metro Area Development Corporation, as outlined in the provided information, is an organization whose primary mission is to facilitate the packaging and processing of loans for the U.S. Small Business Administration. In essence, this corporation serves as a vital intermediary, streamlining the loan application process for small businesses seeking financial aid from the U.S. Small Business Administration. By undertaking this role, Metro Area Development Corporation contributes to the broader economic growth and development of small businesses within the nation.
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Impact
October, 2024
Metro Area Development Corporation significantly impacts the local economy by facilitating access to funding for small businesses through the packaging and processing of loans for the U.S. Small Business Administration (SBA). Located in Oklahoma City, their efforts help entrepreneurs secure the financial support they need to start, grow, and sustain their businesses. This, in turn, contributes to community improvement by fostering job creation, enhancing local services, and driving economic growth within the region. The organization's focus on small business development plays a vital role in creating a resilient and vibrant community.
This information is meant to be a general summary of Metro Area 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 2021.
- Investment Income: $4,423
- Program Service Revenue: $235,784
- Gross Receipts: $240,207
Assets and Liabilities:
- Total Assets: $168,979
- Total Liabilities: $1,000
- Net Assets: $167,979
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICING FEES
Revenue
$149,954
PROCESSING FEES
Revenue
$85,830
Organization Details
Founding Year
1984
Phone
(405) 424-5181Principal Officer
Daniel Fitzpatrick
Main Address
1144 NW 50th STREET, OKLAHOMA CITY, OK, 73118
Website
www.madco.netNTEE Category
Code: S43 - Community improvement
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