Overview
What is Itc Rural Economic Development Inc?
Itc Rural Economic Development Inc, based in Clear Lake, South Dakota (PO Box 920), is a nonprofit organization dedicated to enhancing rural communities. Their primary activity involves offering low-interest loans to various entities, such as businesses and communities, with the aim of adding value, creating employment opportunities, and promoting rural community growth. The loans are mainly utilized for projects related to healthcare, environmental conservation, education, and safety enhancements. As of December 31, 2022, Itc REDI had outstanding loans from four companies/individuals, supporting initiatives in medical care, education, and telecommunications, all aimed at improving rural infrastructure and job creation.
Official website here: www.itc-web.com
Is Itc Rural Economic Development Inc legitimate?
Itc Rural Economic Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Itc Rural Economic Development 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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Official website here: www.itc-web.com
What is the mission statement of Itc Rural Economic Development Inc?
Itc Rural Economic Development Inc's mission is centered around providing low-interest loans to businesses and communities. This initiative aims to add value, create employment opportunities, and enhance rural community vitality. Proposed projects can encompass healthcare, environmental, educational, and safety-related endeavors. As of December 31, 2022, the organization had loans outstanding with four companies or individuals, primarily for medical care, education, and telecommunications projects, each contributing to rural development, job creation, and infrastructure improvement.
Official website here: www.itc-web.com
Who is the CEO of Itc Rural Economic Development Inc?
Susan Robbins is the President of Itc Rural Economic Development Inc.
Official website here: www.itc-web.com
What is the revenue of Itc Rural Economic Development Inc?
Itc Rural Economic Development Inc's revenue in 2022 was $113,014.
Official website here: www.itc-web.com
Who are the executives of Itc Rural Economic Development Inc and what are their salaries?
There 10 volunteers at Itc Rural Economic Development Inc.
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Official website here: www.itc-web.com
Where can I find the form 990 for Itc Rural Economic Development Inc?
Itc Rural Economic Development Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.itc-web.com
Learn more at the official website: www.itc-web.com
Mission Statement of Itc Rural Economic Development Inc
Itc Rural Economic Development Inc, a nonprofit organization, is committed to enhancing the vitality of rural communities. Their mission is to provide low-interest loans to businesses and communities, with the intention of adding value, creating employment opportunities, and expanding rural community prospects. Proposals for these loans can encompass a variety of projects, including those related to healthcare, the environment, education, and safety. By offering these loans, Itc Rural Economic Development Inc aims to contribute to the development of rural areas, fostering growth and improving infrastructure. As of December 31, 2022, they had loans outstanding with four companies and individuals, primarily for projects in the sectors of medical care, education, and telecommunications, all aimed at boosting rural development, job creation, and improving rural infrastructure.
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Impact
October, 2024
Itc Rural Economic Development Inc plays a crucial role in enhancing the vitality of rural communities by providing low-interest loans aimed at stimulating economic growth and improving quality of life. With a focus on critical areas such as medical care, education, and telecommunications, the organization actively supports projects that contribute to job creation and the development of essential infrastructure.
By facilitating access to funding for businesses and community initiatives, Itc Rural Economic Development Inc fosters opportunities that can lead to increased value and employment in rural areas. Their mission underscores a commitment to not only address immediate economic needs but also to promote sustainable development through investments in healthcare, environmental initiatives, educational ventures, and safety-related projects.
In 2022, Itc REDI successfully managed loans receivable from four companies and individuals, demonstrating their direct impact on local economies and the improvement of rural life. Overall, the organization’s efforts are vital in shaping a robust future for rural communities, ensuring they thrive and adapt in an ever-evolving economic landscape.
This information is meant to be a general summary of Itc Rural Economic Development 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: $4,732
- Program Service Revenue: $65,071
- Gross Receipts: $113,014
Assets and Liabilities:
- Total Assets: $1,281,995
- Total Liabilities: $222,684
- Net Assets: $1,059,311
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
BAD DEBT RECOVERIES
Revenue
$50,000
LOAN INTEREST
Revenue
$15,071
Organization Details
Founding Year
2001
Phone
(605) 874-2181Principal Officer
Susan Robbins
Main Address
PO BOX 920, CLEAR LAKE, SD, 57226
Website
www.itc-web.comNTEE Category
Code: S32 - Community improvement
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