Prairie Development Corporation

Prairie Development Corporation is a nonprofit organization situated in Stratton, Colorado. Its primary focus is on economic development, offering guaranteed and direct loans of up to $150,000 to local businesses. The corporation also provides financial assistance, loaning up to $20,000 per full-time employee position, with at least 51% of these positions reserved for low- to moderate-income qualified individuals. Prairie Development Corporation does not operate as a primary lender and often collaborates with banks and other financial institutions in the local area. Additionally, the organization plays a significant role in promoting tourism in the region, attracting revenue to the communities and contributing to job stability. In 2022, the corporation closed one new business loan, which was further bolstered with revolving loan funds for $30,000. Beyond financial aid, Prairie Development Corporation extends support to low-income individuals and businesses through housing rehabilitation loans, business start-up aid, and related services.

Prairie Development Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Prairie 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.

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Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0

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Prairie Development Corporation's mission is centered around providing financial assistance to low-income individuals and businesses. This assistance takes the form of low-income loans and loan guarantees, primarily for housing rehabilitation and business start-ups, as well as related support services. The corporation's activities are not limited to lending; they also offer economic development programs, providing guaranteed and direct loans to businesses up to 150,000 dollars. For businesses creating jobs, Prairie Development Corporation may offer loans of up to 20,000 dollars per Full-Time Equivalent position, with at least 51% of these positions filled by low- to moderate-income qualified individuals. Prairie Development Corporation does not act as a primary lender and often collaborates with local banks and financial institutions to facilitate loans. Additionally, the corporation plays a role in promoting tourism in the region, aiming to bring in revenue and support job stability. In 2022, one new business loan was successfully closed, leveraging revoluted loan funds for an additional 30,000 dollars.

Ed Rarick is the Chairman of Prairie Development Corporation.

Prairie Development Corporation's revenue in 2022 was $3,272,612.

The Prairie Development Corporation’s most recent form 990 was submitted in 2022 and can be accessed here