Prairieland Economic Development Corporation
Prairieland Economic Development Corporation
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About this organization
Mission
The corporation seeks to assist businesses with the following: economic development by assisting in the growth and expansion of small business and industry, promoting the improvement of community services, expand business ownership opportunities, promote the development of general and community welfare, and increase the local tax base.
About
The primary purpose of the organization is to serve as a certified development company (CDC) pursuant to section 503 and 504 of title V of the Small Business Investment Act of 1958 as amended. CDC is a private non-profit corporation whose purpose is to contribute to the economic development of its area of operation. We approved 20 loans for 12.4 million and funded 15 loans for 8.3 million with projected jobs of 74 created and 27 retained.
Interesting data from their 2020 990 filing
According to the filing documents, the non-profit's mission is defined as “The corporation seeks to assist businesses with the following: economic development by assisting in the growth and expansion of small business and industry, promoting the improvement of community services, expand business ownership opportunities, promote the development of general and community welfare, and increase the local tax base.”.
When referring to its tasks, they were referred to as: “The corporation seeks to assist businesses with the following: economic development by assisting in the growth and expansion of small business and industry, promoting the improvement of community services, expand business ownership opportunities, promote the development of general and community welfare, and increase the local tax base.”.
- The non-profit's state of operation has been legally reported as MN.
- According to the latest filing, the non-profit's address in 2020 is 1 PRAIRIE DRIVE, SLAYTON, MN, 56172.
- The total number of employees reported by the non-profit on their form for 2020 is 5.
- Does not operate a hospital.
- Does not operate a school.
- Does not collect art.
- Does not provide credit counseling.
- Does not have foreign activities.
- Is not a donor-advised fund.
- Is not a private foundation.
- Expenses are between $500,000 and $1,000,000+.
- Revenue is between $500,000 and $1,000,000+.
- Revenue less expenses is $212,110.
- The CEO compensation policy within the organization is established through an impartial evaluation and approval.
- The organization has a written policy that describes how long it will retain documents.
- The organization has 9 independent voting members.
- The organization was formed in 1983.
- The organization has a written policy that addresses conflicts of interest.
- The organization is required to file Schedule O.
- The organization pays $390,157 in salary, compensation, and benefits to its employees.
- The organization pays $0 in fundraising expenses.
- The organization has minutes of its meetings.
- The organization has a written whistleblower policy.
- The organization's financial statements were reviewed by an accountant.