Overview
What is Northeastern Colorado Revolving Loan Fund?
The Northeastern Colorado Revolving Loan Fund is a nonprofit organization located in Yuma, Colorado. Their primary mission is to administer Community Development Block Grant funds, with the aim of fostering local employment growth by offering low-interest loans to both established and new businesses in the area. Operating as a revolving loan fund, they recycle the funds, making them available for future borrowers once previous loans are repaid. Their operations are managed by a small team of one employee.
Is Northeastern Colorado Revolving Loan Fund legitimate?
Northeastern Colorado Revolving Loan Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Northeastern Colorado Revolving Loan Fund 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: $85,190
Professional Fundraising Fees: $0
Other Salaries and Wages: $37,454
For more financial information, click here
What is the mission statement of Northeastern Colorado Revolving Loan Fund?
The Northeastern Colorado Revolving Loan Fund serves a mission to administer Community Development Block Grant funds, promoting local employment growth. This is achieved by providing established or new businesses in the area with low-interest loans. The main objective is to stimulate business expansion, thereby contributing to the overall economic development of the community. This revolving loan fund acts as a catalyst, providing financial assistance to businesses, thereby fostering job creation and economic vitality.
Who is the CEO of Northeastern Colorado Revolving Loan Fund?
Valerie Hibbert is the Chairman of Northeastern Colorado Revolving Loan Fund. The CEO's salary of Northeastern Colorado Revolving Loan Fund is $97,756 and their total compensation is $97,756.
What is the revenue of Northeastern Colorado Revolving Loan Fund?
Northeastern Colorado Revolving Loan Fund's revenue in 2022 was $269,216.
Who are the executives of Northeastern Colorado Revolving Loan Fund and what are their salaries?
The average compensation at Northeastern Colorado Revolving Loan Fund during 2022 was $122,644. There is 1 employee at Northeastern Colorado Revolving Loan Fund.
Here are 13 key members and their salaries (Northeastern Colorado Revolving Loan Fund's CEO's salary is $97,756 and their total compensation is $97,756):
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Where can I find the form 990 for Northeastern Colorado Revolving Loan Fund?
Northeastern Colorado Revolving Loan Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Northeastern Colorado Revolving Loan Fund
The Northeastern Colorado Revolving Loan Fund, as its name suggests, operates as a revolving loan fund with a specific mission. This mission is to administer Community Development Block Grant funds with the primary goal of fostering local employment growth. The fund achieves this by offering low-interest loans to both established and new businesses in the area. By providing these financial resources, the Northeastern Colorado Revolving Loan Fund aims to stimulate economic development and contribute to the creation of job opportunities within the community.
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Impact
October, 2024
The Northeastern Colorado Revolving Loan Fund has a significant impact on the local economy by administering Community Development Block Grant funds aimed at fostering employment growth. By providing established and new businesses in the Yuma area with low-interest loans, the fund facilitates access to capital that can be crucial for expansion, innovation, and job creation. This investment in local businesses not only helps to bolster employment rates but also enhances community development and economic stability in the region. Through its focus on improving access to financial resources, the fund plays a vital role in strengthening the local economy and supporting sustainable growth.
This information is meant to be a general summary of Northeastern Colorado Revolving Loan Fund. 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: $2,399
- Program Service Revenue: $184,717
- Gross Receipts: $269,216
Assets and Liabilities:
- Total Assets: $4,811,779
- Total Liabilities: $31,392
- Net Assets: $4,780,387
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST
Revenue
$170,239
LOAN FEES
Revenue
$9,296
FINANCE CHARGES
Revenue
$5,182
Organization Details
Founding Year
1988
Phone
(970) 848-3150Principal Officer
Valerie Hibbert
Main Address
PO BOX 262, YUMA, CO, 807590262
NTEE Category
Code: S31 - Community improvement
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