Overview
What is Fairbanks Economic Development Corp?
Fairbanks Economic Development Corp (FEDC) is a nonprofit organization situated in Fairbanks, Alaska, specifically at 330 Wendell Ave Suite E, 99701. Their primary mission is to stimulate economic growth within the Fairbanks North Star Borough, aiming to create new job opportunities and expand the local economy. One of their significant focuses is addressing the high energy costs in the community. The borough spends approximately $618 million annually on energy, with over two-thirds of that expense being spent on space heating for both residential and commercial sectors. FEDC works to promote projects that cater to residential, commercial, industrial, and military fuel needs, with the ultimate goal of reducing the community's energy costs. They have a team of 6 dedicated employees contributing to their cause.
Official website here: www.investfairbanks.com
Is Fairbanks Economic Development Corp legitimate?
Fairbanks Economic Development Corp is a legitimate nonprofit organization registered as a 501(c)(6) entity. Fairbanks Economic Development 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $141,225
Professional Fundraising Fees: $0
Other Salaries and Wages: $149,481
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Official website here: www.investfairbanks.com
What is the mission statement of Fairbanks Economic Development Corp?
The Fairbanks Economic Development Corp's mission is centered around fostering new job opportunities and economic growth within its community. Specifically, its objective is to assist in creating new employment prospects and economic possibilities for residents in its area. In addition to this, the organization is actively working to address the high energy costs within the community. The Fairbanks North Star Borough spends approximately $618 million annually on energy expenses, with over two-thirds of this amount being spent on space heating for both residential and commercial buildings. In response to this, the Fairbanks Economic Development Corp is promoting projects that aim to meet the fuel requirements for residential, commercial, industrial, and military sectors, ultimately reducing the overall energy costs for the community.
Official website here: www.investfairbanks.com
Who is the CEO of Fairbanks Economic Development Corp?
Jomo Stewart is the Secretary of Fairbanks Economic Development Corp. The CEO's salary of Fairbanks Economic Development Corp is $127,988 and their total compensation is $127,988.
Official website here: www.investfairbanks.com
What is the revenue of Fairbanks Economic Development Corp?
Fairbanks Economic Development Corp's revenue in 2022 was $456,985.
Official website here: www.investfairbanks.com
Who are the executives of Fairbanks Economic Development Corp and what are their salaries?
The average compensation at Fairbanks Economic Development Corp during 2022 was $48,451. There are 6 employees and 14 volunteers at Fairbanks Economic Development Corp.
Here are 13 key members and their salaries (Fairbanks Economic Development Corp's CEO's salary is $127,988 and their total compensation is $127,988):
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- Compensation: $127,988
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Official website here: www.investfairbanks.com
Where can I find the form 990 for Fairbanks Economic Development Corp?
Fairbanks Economic Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.investfairbanks.com
Learn more at the official website: www.investfairbanks.com
Mission Statement of Fairbanks Economic Development Corp
Fairbanks Economic Development Corp, abbreviated as FEDC, is committed to assisting in the creation of new jobs and economic opportunities for the residents of the Fairbanks North Star Borough and its surrounding economic area. The primary objective of this nonprofit organization is to address the high cost of energy in the community. The Fairbanks North Star Borough spends an estimated $618 million annually on energy costs, with over two-thirds of this amount allocated towards space heating for both residential and commercial buildings. FEDC is actively promoting projects that aim to satisfy the fuel needs of residential, commercial, industrial, and military sectors in the community, ultimately lowering the overall cost of energy for the residents. By implementing such initiatives, FEDC aims to contribute to the economic growth and prosperity of the community.
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Impact
October, 2024
Fairbanks Economic Development Corp (FEDC) significantly impacts the local economy by addressing the critical issue of high energy costs in the Fairbanks North Star Borough. The organization concentrates on initiatives that can reduce the community's annual energy expenditure of approximately $618 million, where over two-thirds of that amount is allocated to space heating for homes and businesses. By promoting projects tailored to meet the fuel needs of residential, commercial, industrial, and military sectors, FEDC plays a vital role in lowering energy costs.
This reduction in energy expenses not only enhances the quality of life for residents but also fosters an environment conducive to economic growth. By assisting in the creation of new jobs and economic opportunities, FEDC helps strengthen the overall economic framework of the region. The efforts of the organization lead to improved community welfare and sustainable development, directly benefiting the residents of the Fairbanks North Star Borough.
This information is meant to be a general summary of Fairbanks Economic Development 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: $135
- Program Service Revenue: $6,500
- Gross Receipts: $456,985
Assets and Liabilities:
- Total Assets: $415,997
- Total Liabilities: $65,345
- Net Assets: $350,652
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
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Revenue
$6,500
Organization Details
Founding Year
1968
Phone
(907) 452-2185Principal Officer
Jomo Stewart
Main Address
330 WENDELL AVE SUITE E, FAIRBANKS, AK, 99701
Website
www.investfairbanks.comNTEE Category
Code: S30 - Community improvement
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