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Northeast South Dakota Economic Corporation

Northeast South Dakota Economic Corporation

Sisseton, SD 57262
Tax ID46-0350177

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About this organization

Revenue

$1,183,215

Expenses

$855,353

Website

growsd.org

Mission

To stimulate economic opportunities through loans, technical support and partnerships

About

Economic/Community Development - Revolving Loan Program (Direct Loans and CD Pledge Loans) assists individuals that are otherwise unable to obtain financing to start or expand their business. In this fiscal period, NESDEC made 54 loans totaling 4,641,031 creating 246 area jobs. As of September 30, 2019 NESDEC had 279 outstanding loans and 6 CD pledges totaling 17,598,252.

Interesting data from their 2020 990 filing

In the filing, the mission of the non-profit is noted as “To stimulate economic opportunities through loans, technical support and partnerships”.

When referring to its responsibilities, they were outlined as: “To stimulate economic opportunities through loans, technical support and partnerships”.

  • The state in which the non-profit is legally registered to operate is SD, as per legal records.
  • According to the non-profit's form, they have 0 employees on their payroll as of 2020.
  • 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 greater than $1,000,000.
  • Revenue less expenses is $327,862.
  • The CEO remuneration plan within the organization is subject to review and approval by an independent source.
  • The organization has a written policy that describes how long it will retain documents.
  • The organization has 15 independent voting members.
  • The organization was formed in 1978.
  • The organization has a written policy that addresses conflicts of interest.
  • The organization is required to file Schedule B.
  • The organization is required to file Schedule O.
  • The organization pays $527,229 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.

Additional Non-Profits in the area

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