Overview
What is Southeastern Montana Development Corporation?
The Southeastern Montana Development Corporation is a nonprofit organization based in Colstrip, Montana. With a team of seven dedicated individuals, their primary mission is to stimulate, encourage, and promote economic growth, expansion, and diversification in the southeastern region of Montana. They offer free business consultation services to clients, aiding in business expansions, startups, and buyouts of existing businesses. Their goal is to contribute positively to the local economy and foster sustainable development in the area.
Official website here: www.semdc.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating. This rating indicates that Southeastern Montana Development Corporation has room for improvement in terms of accountability and financial management, despite some strong points in governance.
The organization demonstrates a strong commitment to independent governance, with 100% of its board members being independent and a complete absence of material asset diversion. Additionally, it maintains a high program expense ratio of 84.46%, suggesting that a significant portion of its funds is directed toward its programs and services.
However, the nonprofit faces notable limitations, including missing key policies such as a whistleblower policy and document retention and destruction guidelines. Furthermore, while the organization has posted some relevant documents, it has not included its tax form on its website, which could impact transparency and accountability to stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Southeastern Montana Development Corporation legitimate?
Southeastern Montana Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Southeastern Montana 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: $80,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $158,405
For more financial information, click here
Official website here: www.semdc.org
What is the mission statement of Southeastern Montana Development Corporation?
The Southeastern Montana Development Corporation's mission is to foster economic growth and diversification in the region. They achieve this by encouraging, stimulating, and promoting economic development, expansion, and diversification. To accomplish this, they offer free business consultation services, assisting with business expansions, startups, and buyouts of existing businesses. Their goal is to contribute positively to the economic landscape of southeastern Montana.
Official website here: www.semdc.org
What is the revenue of Southeastern Montana Development Corporation?
Southeastern Montana Development Corporation's revenue in 2023 was $2,061,619.
Official website here: www.semdc.org
Who are the executives of Southeastern Montana Development Corporation and what are their salaries?
The average compensation at Southeastern Montana Development Corporation during 2023 was $39,734. There are 6 employees at Southeastern Montana Development Corporation.
Here are 17 key members and their salaries:
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Official website here: www.semdc.org
Where can I find the form 990 for Southeastern Montana Development Corporation?
Southeastern Montana Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.semdc.org
Learn more at the official website: www.semdc.org
Mission Statement of Southeastern Montana Development Corporation
The Southeastern Montana Development Corporation, a not-for-profit organization, is committed to fostering economic growth, expansion, and diversification in the southeastern region of Montana. Their mission is to actively stimulate and promote business development, serving as a catalyst for clients engaged in business expansions, startups, and the acquisition of existing businesses. By offering free business consultation services, this corporation aims to contribute significantly to the economic development of the region.
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Impact
July, 2024
Southeastern Montana Development Corporation's impact can be seen in the economic growth, expansion, and diversification of businesses in Southeastern Montana. By providing free business consultation services to clients, this organization has played a vital role in supporting business expansions, startups, and buyouts of existing businesses in the region. Through their mission to encourage, stimulate, and promote economic development, Southeastern Montana Development Corporation has helped drive community improvement and create opportunities for sustainable growth in Colstrip and surrounding areas.
This information is meant to be a general summary of Southeastern Montana 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 2023.
- Investment Income: $4,062
- Program Service Revenue: $52,373
- Gross Receipts: $2,074,045
Assets and Liabilities:
- Total Assets: $1,996,928
- Total Liabilities: $399,164
- Net Assets: $1,597,764
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REVOLVING LOAN INCOME
Revenue
$52,373
Organization Details
Founding Year
1993
Principal Officer
James Atchison
Website
www.semdc.orgNTEE Category
Code: S20Z - Community improvement
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