Overview
What is Morrow Development Corporation?
Morrow Development Corporation (MDC) is a nonprofit organization based in Heppner, Oregon, specifically at 645 Hager Street. Their primary mission is to foster economic development in rural Oregon, serving the ten easternmost counties of the state. They achieve this by offering long-term borrowings at low interest rates to eligible entities within these counties. This financing assistance is utilized for various projects, including business development and community development initiatives in Morrow County. MDC's mission is to contribute positively to the economic growth and prosperity of rural Oregon, thereby enhancing the livelihoods of its residents.
Official website here: www.morrowdevelopmentcorporation.com
Is Morrow Development Corporation legitimate?
Morrow Development Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Morrow 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.
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Official website here: www.morrowdevelopmentcorporation.com
What is the mission statement of Morrow Development Corporation?
The Morrow Development Corporation strives to promote economic development in rural areas, specifically focusing on ten eastern counties, by offering long-term loans at lower interest rates to various entities. This financing assistance is intended for both business development and community development projects. By providing these resources, the corporation aims to stimulate economic growth and improvement in these regions.
Official website here: www.morrowdevelopmentcorporation.com
Who is the CEO of Morrow Development Corporation?
Jerry Healy is the President of Morrow Development Corporation.
Official website here: www.morrowdevelopmentcorporation.com
What is the revenue of Morrow Development Corporation?
Morrow Development Corporation's revenue in 2023 was $106,354.
Official website here: www.morrowdevelopmentcorporation.com
Who are the executives of Morrow Development Corporation and what are their salaries?
Here are 6 key members and their salaries:
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Official website here: www.morrowdevelopmentcorporation.com
Where can I find the form 990 for Morrow Development Corporation?
Morrow Development Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.morrowdevelopmentcorporation.com
Learn more at the official website: www.morrowdevelopmentcorporation.com
Mission Statement of Morrow Development Corporation
Morrow Development Corporation, a nonprofit organization, is dedicated to promoting economic growth in rural Oregon. To achieve this mission, the corporation provides long-term borrowings at low interest rates to entities within these counties. Moreover, Morrow Development Corporation offers financing assistance for business development and community development projects in the region. This commitment to economic development aims to enhance the economic well-being of the communities within the ten easternmost counties of rural Oregon.
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Impact
October, 2024
Morrow Development Corporation significantly impacts rural Oregon by fostering economic growth and development in some of the state's most underserved areas. By offering long-term borrowings at low interest rates, it enables local entities in the ten easternmost counties to secure necessary financing for business and community development projects. This access to affordable capital helps stimulate job creation, support local businesses, and enhance community infrastructure, ultimately improving the quality of life for residents. As a result, Morrow Development Corporation plays a vital role in revitalizing and sustaining the economic health of Morrow County and its surrounding areas.
This information is meant to be a general summary of Morrow 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: $1,165
- Program Service Revenue: $105,189
- Gross Receipts: $106,354
Assets and Liabilities:
- Total Assets: $5,095,121
- Total Liabilities: $804,104
- Net Assets: $4,291,017
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN FEE INCOME
Revenue
$105,189
Organization Details
Founding Year
1994
Phone
(541) 676-8719Principal Officer
Jerry Healy
Main Address
645 HAGER STREET, HEPPNER, OR, 97836
NTEE Category
Code: S31 - Community improvement
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