Lake Country Development Corporation

Organization Overview

Lake Country Development Corporation is located in South Hill, VA. The organization was established in 1982. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Country Development Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 06/2022, Lake Country Development Corporation generated $18.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.6%) each year. All expenses for the organization totaled $31.6k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO ADMINISTER ECONOMIC DEVELOPMENT LOANS

Describe the Organization's Program Activity:

Part 3 - Line 4a

ADMINISTRATION OF EDA AND RURAL DEVELOPMENT IRP/IDG LOAN PROGRAMS. IN THE CURRENT YEAR LCDC ISSUED COVID RECOVERY LOANS TO TEN LOCAL SMALL BUSINESSES.


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Board, Officers & Key Employees

Name (title)Compensation
Sandra Garner-Colman
Director
$0
Leslie Weddington
Vice President
$0
Kim Callis
Treasurer
$0
David Brankley
President
$0
Andrew Nash
Director
$0
Marcus Hargrave
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$17,800
Investment income $730
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $18,530

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