Economic and Community Development Institute Inc.
Economic and Community Development Institute Inc.
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About this organization
Mission
ECDI serves the needs of disadvantaged low-income, low-wealth entrepreneurs through a multi-tiered approach that combines access to affordable capital, with wraparound small business development services, allowing underserved entrepreneurs to create and expand their business and enter the economic mainstream.
About
ECDI offers small business loans ranging from $500 to $350,000. The businesses served by ECDI often lack the type of cash flow, collateral, and other requirements to qualify for conventional financing. ECDI accepts non-traditional collateral, and can provide custom repayment and deferred payment schedules to enable businesses with sound plans and borrowing capacity to obtain responsible and affordable financing to meet their needs.
Interesting data from their 2020 990 filing
The purpose of the non-profit is listed in the filing as “Ecdi's mission is to invest in people to create measurable and enduring social and economic change. ecdi provides a number of critical and valuable services to low and moderate income people throughout the state of ohio.”.
When detailing its duties, they were outlined as: “Ecdi serves the needs of disadvantaged low-income, low-wealth entrepreneurs through a multi-tiered appraoch that combines access to affrodable capital, with wraparound small business development services, allowing underserved entrepreneurs to create and expand their business and enter the economic mainstream.”.
- The non-profit's legally reported state of operation is OH.
- The filing states that the non-profit's address in the year 2020 is 1655 OLD LEONARD AVENUE, COLUMBUS, OH, 43219.
- The non-profit's form for the year 2020 reports a total of 74 employees on their payroll.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $560,123.
- The organization has 13 independent voting members.
- The organization was formed in 1985.
- The organization pays $3,712,092 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
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