Overview
What is Greater Sterling Development Corporation?
Greater Sterling Development Corporation, based in Sterling, Illinois, serves as a catalyst for economic growth in the area. Operating a 50,000 square foot industrial facility, they recruit and assist startup businesses, providing marketing and planning support. The organization also manages real estate for local businesses and offers loans in conjunction with the city's revolving loan fund. In addition, Greater Sterling Development Corporation generously leases one of its buildings to various local non-profit organizations at no cost, contributing an estimated $108,000 in in-kind rent for the current year. Their primary mission is to foster economic growth and job creation in the Sterling area through business expansion, new investment, and retention.
Official website here: www.sterlingdevelopment.org
Is Greater Sterling Development Corporation legitimate?
Greater Sterling Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Greater Sterling 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: $99,587
Professional Fundraising Fees: $0
Other Salaries and Wages: $76,893
For more financial information, click here
Official website here: www.sterlingdevelopment.org
What is the mission statement of Greater Sterling Development Corporation?
The Greater Sterling Development Corporation (GSDC) was established with the primary goal of stimulating economic growth and job creation in its area of operation. It achieves this by facilitating business expansion, attracting new investments, and supporting existing businesses. In addition, the organization manages an industrial facility for a city, assisting start-up businesses, and providing loans in conjunction with a city's revolving loan fund. Moreover, GSDC leases its buildings to local non-profit organizations at no cost, contributing significantly to their operations with the in-kind rent.
Official website here: www.sterlingdevelopment.org
Who is the CEO of Greater Sterling Development Corporation?
Heather Sotelo is the Chairman of Greater Sterling Development Corporation.
Official website here: www.sterlingdevelopment.org
What is the revenue of Greater Sterling Development Corporation?
Greater Sterling Development Corporation's revenue in 2022 was $1,289,640.
Official website here: www.sterlingdevelopment.org
Who are the executives of Greater Sterling Development Corporation and what are their salaries?
The average compensation at Greater Sterling Development Corporation during 2022 was $58,827. There are 3 employees and 10 volunteers at Greater Sterling Development Corporation.
Here are 11 key members and their salaries:
- Heather Sotelo (Executive Director)
- Ed Andersen (Chairman) [Trustee/Director]
- Peter W Dillon (Vice Chairman) [Trustee/Director]
- Dick Baumann (Treasurer) [Trustee/Director]
- Cindy Zander (Secretary) [Trustee/Director]
- Jennifer Dallas (Director)
- Craig Froeter (Director)
- Scott Shumard (Director)
- John Rosengren (Director)
- Dave Hurless (Director)
- Dirk Meminger (Director)
Official website here: www.sterlingdevelopment.org
Where can I find the form 990 for Greater Sterling Development Corporation?
The Greater Sterling Development Corporation’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.sterlingdevelopment.org
Learn more at the official website: www.sterlingdevelopment.org
Mission Statement of Greater Sterling Development Corporation
Greater Sterling Development Corporation, abbreviated as GSDC, was established with a mission to stimulate economic growth and job creation within its operational area. This non-profit organization focuses on promoting business expansion, attracting new investments, and supporting existing businesses. By coordinating and streamlining economic development efforts, GSDC aims to drive economic progress in the region.
In addition to its overarching mission, GSDC manages an industrial facility spanning 50,000 square feet in Sterling, Illinois. This facility serves as a hub for nurturing start-up businesses by providing them with essential resources such as recruitment assistance, marketing, and strategic planning. The organization also maintains and leases real estate for local businesses, offering a valuable contribution to the community. Furthermore, GSDC collaborates with the City of Sterling's Revolving Loan Fund to provide loans to budding entrepreneurs, thereby supporting the growth of new ventures.
To extend its support to the community, GSDC leases one of its buildings to various local non-profit organizations at no cost. This in-kind contribution, estimated to be $108,000 for the current year, plays a significant role in enabling these organizations to carry out their respective missions. By offering its facilities and resources, GSDC demonstrates its commitment to fostering a supportive and thriving local community.
Impact
This information is meant to be a general summary of Greater Sterling Development Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Greater Sterling Development Corporation's impact is significant in creating economic and job growth in the Sterling area through business expansion, new investment, and retention. The organization plays a crucial role in managing an industrial facility, recruiting and assisting startup businesses, marketing and planning, as well as providing loans to support entrepreneurial ventures, in collaboration with the City of Sterling's revolving loan fund. Additionally, by leasing one of its buildings to local nonprofit organizations at no cost, GSDC contributes an estimated $108,000 in in-kind rent to support the community. Through its efforts, GSDC serves as a key player in coordinating and streamlining economic development efforts in the city and surrounding areas, ultimately fostering community improvement.
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.
RENTAL REVENUE
Revenue
$380,034
MANAGEMENT FEES
Revenue
$53,000
MISCELLANEOUS PROGRAM
Revenue
$24,251
Organization Details
Founding Year
1990
Phone
(815) 625-5255
Principal Officer
Heather Sotelo
Main Address
1741 INDUSTRIAL DRIVE, STERLING, IL, 61081
Website
www.sterlingdevelopment.org
NTEE Category
Code: S31Z - Community improvement
If you are a representative of Greater Sterling 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.