MOOSEHEAD LAKE REGION ECONOMIC DEVELOPMENT CORP

BANGOR, ME | Penobscot County
Economic Development

Overview

MOOSEHEAD LAKE REGION ECONOMIC DEVELOPMENT CORP
80-0964365
80 EXCHANGE STREET
BANGOR, ME 04401
Penobscot County
(207) 841-9955

Mission Statement info

THE ORGANIZATION IS WORKING TO GROW AND SUSTAIN LOCAL BUSINESSES, ATTRACT AND CREATE NEW JOBS, AND ENHANCE THE ECONOMY OF THE MOOSEHEAD LAKE REGION.

Founded info
2014
Total Employees info
0
Total Volunteers info
0
CRA Category info
  • Economic Development
Nonprofit location info
  • LMI Census Tract
Awards & Certifications info
  • This nonprofit has not received any CRA awards or certifications.
Nonprofit Classification (NTEE Code) info
S30

S - Community Improvement, Capacity Building

Economic Development

Organizations whose primary purpose is to stimulate the economy, expand employment opportunities, encourage the establishment and growth of commerce and industry and otherwise enhance the economic development of the community.

IRS Activity Codes info
-
Not reported
-
Not reported
-
Not reported
Standard Business Classification (NAICS Code) info
813410
Civic and Social Organizations

CRA Alignment

CRA Category info
Economic Development
Workforce development, job training, and small business or startup support.
CRA Certification info
Has not applied.
Awards & Certifications info
Community Development Financial Institution info
Community Development Financial Institution Award Recipient info
New Market Tax Credit Recipient info
HUD Counseling Agency info
Low Income Housing Tax Credit Recipient info

IRS Summary

Income
$177.4K
Revenue
$177.4K
Assets
$333K
Exempt Ruling Date info
2015-02
Deductibility Status info
Deductible
Tax Filing Year info
2018
Organization Type info
Corporation
Organization Tax Filing Status info
990 (all other) or 990EZ return
Foundation Tax Filing Status info
990-PF not required by IRS
Affiliation Classification info
Independent Organization
States Where Tax Return is Filed info
Not reported
Basis for Foundation/Public Charity Status info
Organization normally receives no more than one-third of support from gross investment and unrelated business income and at same time more than one-third of its support from contributions, fees and gross receipts related to exempt purposes 509(a)(2)
IRS Reported Activities info
Provides Credit Counseling
Conducts Gaming Activities
Engages in Lobbying Activities
Engages in Political Activities
Makes Grants to Individuals
Makes Grants to Organizations

Nonprofit Location

Physical Address info
80 EXCHANGE STREET
BANGOR, ME 04401
Penobscot County
FIPS Geocoded Address info
12620
MSA/CBSA info
23
State info
019
County info
0002.00
Tract info
Moderate
Income Level info
Core-Based Statistical Area info
Bangor, ME
Combined Statistical Area info
Not located in a CSA.
Metropolitan Division info
Not located in an MD.
Area Type info
Metropolitan Statistical Area
Located In info
Low- or Moderate-Income Census Tract info
Opportunity Zone info
Majority Minority Census Tract info 8.04%
Designated Distressed Census Tract info
Underserved Census Tract info

Market Data

Census Tract County
0002.00 Penobscot County
Population
Total Population 3,609 151,774
Total Households 1,907 62,156
Income
Median Family Income (Census*) $29,375 $50,808
Median Family Income (2019 FFIEC) $66,600 N/A
Tract Income Percentage 51.63% N/A
Below Poverty Level 34.6% 14.8%
Unemployment Level 3.5% 5%
Housing
Total Housing Units 2,176 75,789
Total Owner-Occupied Units 14.0% 69.4%
Total Renter-Occupied Units 73.6% 30.6%
Total Vacant Units 12.4% 8.1%
* Census tract income based on 2019 Census estimated data; County income based on 2019 American Community Survey data.
View more than 200 performance context data points for this county now.

Management

13
Total Voting Members
in Governing Body
info
13
Independent Voting Members
in Governing Body
info
Tax Filing Signatory info
Steve Levesque
President
(207) 841-9955
Principal Officer info
Steve Levesque
Key Policies & Documents info
Written Conflict of Interest Policy
Written Document Retention & Destruction Policy
Written Wistleblower Policy
CEO Compensation Review Process
Written Minutes of Board Meetings
Financial Statements & Reporting info
Compiled or Reviewed by an Independent Accountant
Audited by an Independent Accountant
Included in Consolidated Financial Statements
Internal Audit Committee Review
Federal Grant Audit Required
Federal Grand Audit Performed

"NA" in this section indicates that the information was not available in the nonprofit's most recent IRS tax filing.

This Nonprofit Profile was automatically created by findCRA based on data available from publicly available government and industry sources and our own research. This Nonprofit Profile is not currently maintained by, endorsed by, or affiliated with this nonprofit. Whenever possible, we utilize the most recent information available including information as made public by the Internal Revenue Service, U.S. Census Bureau, Federal Financial Institutions Examination Council, and more. The format and design of this Nonprofit Profile is ©findCRA. For more information about our Nonprofit Profiles, please visit www.learncra.com.