Overview
What is Denison Community Investment Corp?
Denison Community Investment Corp is a nonprofit organization situated in Denison, Texas. Its primary mission is to manage economic development funds received from the Union Pacific Railroad. They accomplish this by offering a low-interest rate loan program to local businesses, enabling them to procure property or necessary equipment. As of December 31, 2022, the organization had outstanding loans totaling $1,150,800, contributing to the economic growth of Denison, Texas.
Is Denison Community Investment Corp legitimate?
Denison Community Investment Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. Denison Community Investment Corp 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 Denison Community Investment Corp?
The Denison Community Investment Corp's mission is to manage economic development funds received from the Union Pacific Railroad. They accomplish this by offering a low-interest rate loan program to local businesses, enabling them to acquire necessary property or equipment. This initiative aims to stimulate economic growth within the community. As of December 31, 2022, the corporation had outstanding loans totaling $1,150,800.
Who is the CEO of Denison Community Investment Corp?
Veronica Davis is the Secretary/Treasurer of Denison Community Investment Corp.
What is the revenue of Denison Community Investment Corp?
Denison Community Investment Corp's revenue in 2022 was $44,287.
Who are the executives of Denison Community Investment Corp and what are their salaries?
There 7 volunteers at Denison Community Investment Corp.
Here are 7 key members and their salaries:
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Where can I find the form 990 for Denison Community Investment Corp?
Denison Community Investment Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Denison Community Investment Corp
Denison Community Investment Corp, as a nonprofit organization, is committed to administering economic development funds received from the Union Pacific Railroad. This commitment is primarily focused on providing a low-interest rate loan program for Denison businesses. By offering these loans, the corporation aims to enable local businesses to acquire property or essential equipment, thereby fostering economic growth in the city. As of December 31, 2022, Denison Community Investment Corp had outstanding loans totaling $1,150,800, highlighting its significant impact on the Denison business community. The organization's mission is to contribute to the city's economic development, empowering businesses to expand and thrive.
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Impact
October, 2024
Denison Community Investment Corp significantly impacts the local economy by administering a low-interest rate loan program for businesses in Denison, Texas. By providing $1,150,800 in outstanding loans as of December 31, 2022, the organization enables local businesses to acquire essential property and equipment. This financial support fosters economic development, encourages business growth, and contributes to the overall vitality of Denison. The collaboration with the Union Pacific Railroad underscores a strategic partnership aimed at enhancing the community’s economic landscape, ultimately benefiting residents and local enterprises alike.
This information is meant to be a general summary of Denison Community Investment Corp. 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: $942
- Program Service Revenue: $43,321
- Gross Receipts: $44,287
Assets and Liabilities:
- Total Assets: $1,727,962
- Total Liabilities: $18,531
- Net Assets: $1,709,431
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Organization Details
Founding Year
1988
Phone
(903) 463-3765Principal Officer
Veronica Davis
Main Address
PO BOX 1218, Denison, TX, 75021
NTEE Category
Code: L80Z - Housing
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