Overview
What is West Central Development Corporation?
West Central Development Corporation, operating under the name Anchor Financial Services, is a nonprofit organization situated in Perrysburg, Ohio. Their primary focus is to improve the lives of disadvantaged individuals and strengthen distressed communities through innovative finance. They achieve this by administering a 504 Loan Program, which provides funding for small businesses to undertake fixed asset projects. This initiative has led to the creation of over 2,500 jobs. West Central Development Corporation acts as an agent of the U.S. Small Business Administration, partnering with community banks and advocating for the growth of businesses. With a team of seven employees, they adhere to the policies and procedures set forth by the U.S. Small Business Administration to promote economic development and sustainable job growth.
Official website here: www.anchorsba.com
Is West Central Development Corporation legitimate?
West Central Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. West Central 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.
Here are some key statistics you may want to consider:
Executive Compensation: $164,739
Professional Fundraising Fees: $0
Other Salaries and Wages: $58,972
For more financial information, click here
Official website here: www.anchorsba.com
What is the mission statement of West Central Development Corporation?
West Central Development Corporation's mission is centered around improving the lives of disadvantaged individuals and strengthening distressed communities. They achieve this by promoting economic development and sustainable job growth. The corporation acts as an agent of the government, partners with community banks, and serves as an advocate for businesses. Their primary activity involves financing viable small businesses through the 504 Loan Program, which provides loans for fixed asset projects. This program, adhering to U.S. Small Business Administration policies, has resulted in the creation of over 2,500 jobs.
Official website here: www.anchorsba.com
Who is the CEO of West Central Development Corporation?
Julie E Jurosic Cpa is the President of West Central Development Corporation.
Official website here: www.anchorsba.com
What is the revenue of West Central Development Corporation?
West Central Development Corporation's revenue in 2022 was $2,398,385.
Official website here: www.anchorsba.com
Who are the executives of West Central Development Corporation and what are their salaries?
The average compensation at West Central Development Corporation during 2022 was $31,959. There are 7 employees at West Central Development Corporation.
Here are 5 key members and their salaries:
- Robert Huff (President) [Trustee/Director]
- Julie Jurosic (Executive Vice President,) [Trustee/Director]
- William Leahy (Board Member) [Trustee/Director]
- Eugene Brunswick (Board Member) [Trustee/Director]
- Timothy Lones (Board Member) [Trustee/Director]
Official website here: www.anchorsba.com
Where can I find the form 990 for West Central Development Corporation?
The West Central Development Corporation’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.anchorsba.com
Learn more at the official website: www.anchorsba.com
Mission Statement of West Central Development Corporation
West Central Development Corporation, a nonprofit organization, is committed to enhancing the lives of disadvantaged individuals and revitalizing distressed communities. Their mission is twofold: firstly, they aim to foster economic development and encourage sustainable job growth. They achieve this by providing financing to viable small businesses, acting as an agent of the government, partnering with community banks, and advocating for businesses.
Secondly, West Central Development Corporation serves as a champion for these businesses, helping them secure loans for fixed asset projects. Their flagship program, the 504 Loan Program, is a testament to their commitment. This program, aligned with the policies and procedures of the U.S. Small Business Administration, boasts an impressive portfolio of 88 loans with outstanding principal balances totaling $44,015,877. In 2022 alone, they approved 7 loans worth $6,356,000 and funded 11 loans totaling $9,865,000. This program has been instrumental in creating 2,541 jobs, demonstrating West Central Development Corporation's significant impact on the local economy.
Impact
This information is meant to be a general summary of West Central Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
West Central Development Corporation's impact can be seen in the tangible results of its 504 Loan Program. This program has successfully administered an outstanding portfolio of 88 loans, totaling $44,015,877 in outstanding principal balances. In 2022 alone, 7 loans totaling $6,356,000 were approved and 11 loans totaling $9,865,000 were funded. Through these loans, small businesses have been able to undertake fixed asset projects, leading to the creation of 2,541 jobs. This not only supports the growth and sustainability of these businesses but also contributes to the economic development of distressed communities. By adhering to the policies and procedures set forth by the U.S. Small Business Administration, West Central Development Corporation serves as a significant agent of government in promoting economic development and sustainable job growth.
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.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN ADMINISTRATION IN
Revenue
$414,986
Organization Details
Founding Year
2006
Phone
(419) 873-8322
Principal Officer
Julie E Jurosic Cpa
Main Address
955 COMMERCE DR A, PERRYSBURG, OH, 43551
Website
www.anchorsba.com
NTEE Category
Code: S12 - Community improvement
If you are a representative of West Central Development Corporation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.