ORGANIZATION'S MISSION |
FORM 990 - ORGANIZATION'S MISSION |
TO PROVIDE LONG-TERM LOANS TO SMALL BUSINESSES FOR THE PURPOSE OF CONVERSION, OR EXPANSION, INCLUDING THE ACQUISITION OF LAND, BUILDING AND LEASEHOLD IMPROVEMENTS. AREAWIDE DEVELOPMENT CORPORATION ALSO PROVIDES ALL SERVICES FOR THE LOAN PORTFOLIO. SMALL BUSINESS FINANCE IS A MOST IMPORTANT FUNCTION IN ASSITING IN THE CREATION OF PRIVATE SECTOR JOBS. AREAWIDE DEVELOPMENT CORPORATIONS PRIMARY FUNCTION AND GOAL IS PRIVATE SECTOR JOB CREATION. |
ELECTION OF MEMBERS AND THEIR RIGHTS |
FORM 990, PAGE 6, PART VI, LINE 7A |
MEMBERS ELECT BOARD OF DIRECTORS, MEMBERS SERVE DUE TO THEIR POSITIONS |
ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 |
FORM 990, PAGE 6, PART VI, LINE 11B |
UPON RECEIPT OF FORM 990, IT WILL BE EMAILED TO THE BOARD OF DIRECTORS FOR THEIR REVIEW AND COMMENT PRIOR TO FILING. |
COMPENSATION PROCESS FOR TOP OFFICIAL |
FORM 990, PAGE 6, PART VI, LINE 15A |
COMPENSATION FOR THE CONTRACT EMPLOYEES IS BASED ON ANNUAL PERFORMANCE EVALUATIONS. COMPENSATION IS REVIEWED AND APPROVED BY THE EAST TENNESSEE DISTRICT EXECUTIVE COMMITTEE AND SBA DISTRICT COUNCIL ON AN ANNUAL BASIS. |
COMPENSATION PROCESS FOR OFFICERS |
FORM 990, PAGE 6, PART VI, LINE 15B |
COMPENSATION FOR THE CONTRACT EMPLOYEES IS BASED ON ANNUAL PERFORMANCE EVALUATIONS. COMPENSATION IS REVIEWED AND APPROVED BY THE EAST TENNESSEE DISTRICT EXECUTIVE COMMITTEE AND SBA DISTRICT COUNCIL ON AN ANNUAL BASIS. |
GOVERNING DOCUMENTS DISCLOSURE EXPLANATION |
FORM 990, PAGE 6, PART VI, LINE 19 |
FINANCIAL STATEMENTS AND TAX RETURNS ARE AVAILABLE THROUGH THE FEDERAL CLEARINGHOUSE AND CAN BE VIEWED ONLINE. ALL OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST AND AVAILABLE AT THE AREAWIDE DEVELOPMENT CORPORATION OFFICE DURING NORMAL BUSINESS HOURS. |