Program areas at Itasca Economic Development Corporation
Small business Development - organization assists small businesses with start-up and Development activities through various educational programs including individual counseling and workshops
Assistance with financing - organization educates and assists small business clients in obtaining financing and completing loan packages
Marketing & recruitment - through education and research efforts, the organization markets to various companies that may be interested in expanding or relocating in the Itasca county area in northern Minnesota
Business retention and expansion - organization provides resources to local businesses regarding Economic issues and disseminates Economic information to the community
Who funds Itasca Economic Development Corporation
Grants from foundations and other nonprofits
Personnel at Itasca Economic Development Corporation
| Name | Title | Compensation | Date of data |
|---|
| Tamara Lowney | President and Chief Executive Officer Staff | $121,267 | 2024-01-31 |
| Kayla Swanson | Operations and Outreach Manager | | 2024-01-31 |
| Teri Heikkila | Finance Manager | | 2024-01-31 |
| Matt Shermoen | Business Development Manager | | 2024-01-31 |
| Amanda Lamppa | Project Manager Staff | | 2024-01-31 |
| ...and 1 more key personnel |
Financials for Itasca Economic Development Corporation
| Revenues | FYE 12/2022 | FYE 12/2021 | % Change |
|---|
| Total grants, contributions, etc. | $1,158,823 | $1,667,250 | -30.5% |
| Program services | $47,599 | $32,680 | 45.7% |
| Investment income and dividends | $-16,060 | $55,445 | -129% |
| Tax-exempt bond proceeds | $0 | $0 | - |
| Royalty revenue | $0 | $0 | - |
| Net rental income | $63,341 | $39,809 | 59.1% |
| Net gain from sale of non-inventory assets | $0 | $0 | - |
| Net income from fundraising events | $0 | $0 | - |
| Net income from gaming activities | $0 | $0 | - |
| Net income from sales of inventory | $0 | $0 | - |
| Miscellaneous revenues | $8,045 | $55,996 | -85.6% |
| Total revenues | $1,261,748 | $1,851,180 | -31.8% |
Organizations like Itasca Economic Development Corporation
| Organization | Type | Location | Revenue |
|---|
| Envision Greater Fond du Lac Foundation | 501(c)(3) | Fond Du Lac, WI | $351,286 |
| New England Trade Adjustment Assistance | 501(c)(3) | North Billerica, MA | $1,539,209 |
| Southeast Economic Development Corporation (SEDC) | 501(c)(3) | Dover, NH | $872,934 |
| Mohawk Valley Economic Development District | 501(c)(3) | Mohawk, NY | $761,195 |
| Regional Development Funding Corporation | 501(c)(3) | Pittsburgh, PA | $3,181,210 |
| Applied Strategies International | 501(c)(3) | Chicago, IL | $1,112,722 |
| Thurston Economic Development Council Center for Business and Innovation | 501(c)(3) | Lacey, WA | $1,866,030 |
| CCD Business Development Corporation | 501(c)(3) | Roseburg, OR | $3,951,340 |
| Cooperative Business Assistance Corporation | 501(c)(3) | Camden, NJ | $5,424,289 |
| Brainerd Lakes Area Economic Development Corporation | 501(c)(3) | Brainerd, MN | $593,859 |
Data update history
January 31, 2024
Updated personnel
Identified 6 new personnel
December 25, 2023
Received grants
Identified 1 new grant, including a grant for $250,000 from The McKnight Foundation November 29, 2023
Posted financials
Added Form 990 for fiscal year 2022
November 28, 2023
Updated personnel
Identified 1 new personnel
September 27, 2023
Received grants
Identified 1 new grant, including a grant for $75,000 from Otto Bremer Trust (OBT) Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCharities
Issues
EducationCommunity improvementEconomic developmentBusiness and industry
Characteristics
Receives government fundingTax deductible donations
General information
- Address
- 12 NW 3rd St
- Grand Rapids, MN 55744
- County
- Itasca County, MN
- Website URL
- itascadv.org/Â
- Phone
- (218) 326-9411
IRS details
- EIN
- 41-1413301
- Fiscal year end
- December
- Taxreturn type
- Form 990
- Year formed
- 1981
- Eligible to receive tax-deductible contributions (Pub 78)
- Yes
Categorization
- NTEE code, primary
- S30: Economic Development
- NAICS code, primary
- 926110: Economic Development Corporations and Economic Program Organizations
- Parent/child status
- Independent
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