Overview
What is Northeast Texas Economic Development District Inc?
Northeast Texas Economic Development District Inc is a nonprofit organization situated in Texarkana, Texas. Its primary mission is to stimulate business growth and economic development in the rural areas of Northeast Texas. They achieve this by managing revolving loan funds, a service provided in collaboration with the Ark-Tex Council of Governments. Beyond financial assistance, they also engage in economic planning activities and offer technical assistance to communities. Their work involves preparing comprehensive economic development strategies, as well as participating in EDA public works and development facilities programs, aiming to alleviate unemployment, under-employment, and distressed economic conditions in the district.
Is Northeast Texas Economic Development District Inc legitimate?
Northeast Texas Economic Development District Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Northeast Texas Economic Development District Inc 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:
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Other Salaries and Wages: $116,805
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What is the mission statement of Northeast Texas Economic Development District Inc?
The Northeast Texas Economic Development District Inc's mission is centered around improving economic conditions in their district, particularly addressing unemployment, under-employment, and distressed economic situations. To accomplish this, they prepare, develop, and administer a program for planning and development. They assist in the development of businesses and economic growth in rural areas through the provision of revolving loan funds. The organization also provides economic planning activities and technical assistance, and works on EDA public works and development facilities programs. They prepare a comprehensive economic development strategy (CEDS) and collaborate with communities in this endeavor.
Who is the CEO of Northeast Texas Economic Development District Inc?
Chris Brown is the President of Northeast Texas Economic Development District Inc.
What is the revenue of Northeast Texas Economic Development District Inc?
Northeast Texas Economic Development District Inc's revenue in 2022 was $435,267.
Who are the executives of Northeast Texas Economic Development District Inc and what are their salaries?
Here are 18 key members and their salaries:
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- Other: $12,677
Where can I find the form 990 for Northeast Texas Economic Development District Inc?
Northeast Texas Economic Development District Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Northeast Texas Economic Development District Inc
Northeast Texas Economic Development District Inc is dedicated to improving economic conditions in its district, specifically addressing unemployment, under-employment, and distressed economic situations. To achieve this, the organization prepares, develops, and administers a program for planning and development. This mission involves working towards the betterment of the economic landscape, aiming to create opportunities and foster growth in the district.
In pursuit of its mission, Northeast Texas Economic Development District Inc provides various services. It assists in the development of businesses in rural areas through the management of revolving loan funds by the Ark-Tex Council of Governments. This financial support can be instrumental in kick-starting new ventures and stimulating economic growth. Additionally, the organization offers economic planning activities and technical assistance, helping communities to strategize and implement sustainable development plans. It also prepares the Comprehensive Economic Development Strategy (CEDS) and works with communities on EDA Public Works and Development Facilities Programs. These initiatives aim to attract investment, create jobs, and ultimately enhance the overall economic well-being of the district.
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Impact
October, 2024
Northeast Texas Economic Development District Inc plays a crucial role in enhancing the economic landscape of rural Northeast Texas. By preparing, developing, and administering strategic programs, the organization directly addresses unemployment, under-employment, and distressed economic conditions in the region.
Through the provision of revolving loan funds managed by the Ark-Tex Council of Governments, it fosters the development of businesses, driving economic growth in areas that often face significant challenges. The organization focuses on comprehensive economic planning, offering technical assistance to communities and preparing the Comprehensive Economic Development Strategy (CEDS) that guides regional development initiatives.
By collaborating with communities on EDA public works and development facilities programs, it supports infrastructure improvements that are vital for attracting investments and creating job opportunities. Overall, the District significantly contributes to community improvement and economic stability in Northeast Texas, empowering residents and businesses to thrive.
This information is meant to be a general summary of Northeast Texas Economic Development District Inc. 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: $24,430
- Program Service Revenue: $94,868
- Gross Receipts: $435,267
Assets and Liabilities:
- Total Assets: $5,352,005
- Total Liabilities: $7,474
- Net Assets: $5,344,531
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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
$94,868
Organization Details
Founding Year
1966
Phone
(903) 832-8636Principal Officer
Chris Brown
Main Address
P O BOX 5307, TEXARKANA, TX, 755055307
NTEE Category
Code: S32 - Community improvement
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