Overview
What is Iowa Center For Economic Success?
The Iowa Center for Economic Success is a nonprofit organization located at 2210 Grand Avenue, Des Moines, Iowa. Their mission is to empower Iowans in their pursuit of financial success. They achieve this goal through three primary services: business coaching, credit and lending, and tax services. The credit and lending aspect supports entrepreneurs by providing business coaching, traditional lending options, and access to flexible alternative loans, up to $50,000, with assistance at every step of the process. Certified by the SBA as a microlender, the Iowa Center also houses the Iowa Center Loan Fund (ICLF), a Community Development Financial Institution (CDFI). In fiscal year 2023, ICLF originated eight unique loans totaling $258,686.12, while the SBA Microloan Program originated nine unique loans totaling $296,919.00. The organization employs a team of 13 individuals dedicated to this cause.
Official website here: www.theiowacenter.org
Is Iowa Center For Economic Success legitimate?
Iowa Center For Economic Success is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iowa Center For Economic Success 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.
Here are some key statistics you may want to consider:
Executive Compensation: $237,856
Professional Fundraising Fees: $0
Other Salaries and Wages: $561,243
For more financial information, click here
What is the mission statement of Iowa Center For Economic Success?
The Iowa Center for Economic Success is an economic development organization committed to empowering individuals with the potential for financial success. Their mission is to provide direct services to entrepreneurs aiming to launch or expand their small businesses. This is achieved through three main offerings: business coaching, credit and lending, and tax services. The center offers business coaching and technical assistance for entrepreneurs seeking traditional lending options, as well as access to flexible lending options. Being certified by the SBA as a microlender, the Iowa Center provides loans up to $50,000 with flexible underwriting guidelines and technical assistance throughout the loan process. In the fiscal year 2023, they originated eight unique loans to clients totaling $258,686.12 through the Iowa Center Loan Fund (ICLF), and nine unique loans totaling $296,919.00 through the SBA Microloan Program.
Official website here: www.theiowacenter.org
Who is the CEO of Iowa Center For Economic Success?
Megan Milligan is the President of Iowa Center For Economic Success.
Official website here: www.theiowacenter.org
What is the revenue of Iowa Center For Economic Success?
Iowa Center For Economic Success's revenue in 2023 was $1,154,286.
Official website here: www.theiowacenter.org
Who are the executives of Iowa Center For Economic Success and what are their salaries?
The average compensation at Iowa Center For Economic Success during 2023 was $61,469. There are 13 employees and 34 volunteers at Iowa Center For Economic Success.
Here are 15 key members and their salaries:
- Megan Milligan (President)
- Alex Polzin (Director Of Finance Thru Jan 23)
- Donnell Wiskus (Director Of Finance Eff Jan 23)
- Mark Phillips (Chair) [Trustee/Director]
- Franklin Codel (Vice Chair) [Trustee/Director]
- Bill Wright (Treasurer) [Trustee/Director]
- Jodi Rhone (Secretary) [Trustee/Director]
- Mari Bunney (Director)
- Kevin Chorniak (Director)
- Everett Miles (Director)
- Nerma Mlivic (Director)
- Taufeek Shah (Director)
- Ann Rolow (Director)
- China Wong (Director)
- Semsa Didic (Director)
Official website here: www.theiowacenter.org
Where can I find the form 990 for Iowa Center For Economic Success?
The Iowa Center For Economic Success’s most recent form 990 was submitted in 2023 and can be accessed here
Official website here: www.theiowacenter.org
Learn more at the official website: www.theiowacenter.org
Mission Statement of Iowa Center For Economic Success
The Iowa Center for Economic Success is an economic development organization with a mission to empower Iowans with the potential to succeed in their pursuit of financial success. Through direct service, the center supports entrepreneurs looking to launch or grow their small businesses by offering business coaching, credit and lending, and tax services. The credit and lending aspect of the center's mission involves providing business coaching and technical assistance for borrowers pursuing traditional lending options, as well as offering flexible lending options through its Microloan Program. Certified by the SBA as a microlender, the Iowa Center Loan Fund (ICLF) acts as a Community Development Financial Institution (CDFI), offering loans up to $50,000 with flexible underwriting guidelines and technical assistance throughout the loan process. In the fiscal year 2023, ICLF originated eight unique loans to clients totaling $258,686.12, while the SBA Microloan Program originated nine unique loans totaling $296,919.00. In essence, the Iowa Center for Economic Success empowers entrepreneurial Iowans by providing them with the necessary resources to navigate the complex world of finance and grow their businesses.
Impact
This information is meant to be a general summary of Iowa Center For Economic Success. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 1, 2024
The Iowa Center For Economic Success empowers entrepreneurs in Iowa by providing vital support in the form of business coaching, credit and lending services, and tax assistance. Through its programs, the center assists individuals in launching and expanding their small businesses, helping them navigate traditional lending options as well as access alternative flexible lending solutions. As a certified micro-lender and home to the Iowa Center Loan Fund, the organization offers loans up to $50,000 with flexible underwriting guidelines, ensuring that aspiring entrepreneurs have the financial resources needed to succeed.
In the fiscal year 2023, the Iowa Center For Economic Success facilitated a total of 17 unique loans to clients, amounting to over $555,000. By enabling access to capital and providing essential technical assistance throughout the loan process, the center significantly contributes to the economic growth and prosperity of Iowa's business community. Through its dedication to supporting entrepreneurial endeavors, the Iowa Center For Economic Success plays a pivotal role in fostering a vibrant and thriving economy in the state.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONTRACT INCOME
Revenue
$125,792
LOAN INCOME
Revenue
$5,178
CLASS FEES
Revenue
$3,278
Organization Details
Founding Year
2004
Phone
(515) 283-0940
Principal Officer
Megan Milligan
Main Address
2210 GRAND AVENUE, DES MOINES, IA, 50312
Website
www.theiowacenter.org
NTEE Category
Code: S30 - Community improvement
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