Overview
What is Iowa Foundation For Microenterprise And Community Vitality?
The Iowa Foundation for Microenterprise and Community Vitality is a nonprofit organization situated in Boone, Iowa. With a team of six dedicated individuals, their primary mission is to provide funding for microbusinesses that often fall outside the risk-bearing capacity of traditional financial institutions. By offering financial support to these ventures, the foundation plays a crucial role in promoting economic growth and community development within its local area. The organization's activities are centered around supporting these microbusinesses, contributing to the overall vitality and strength of the community.
Official website here: www.iowamicroloan.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96%, Four-Star out of Four Star rating.
The Iowa Foundation For Microenterprise And Community Vitality has achieved a strong Four-Star rating, reflecting its robust accountability and financial health. The charity's overall score is derived from a single beacon score focused entirely on accountability and finance, indicating a high level of transparency in its operations. A notable 100% of the board members are independent, enhancing the governance and decision-making processes within the organization.
Strengths include a program expense ratio of 78.67%, showing that a significant portion of its funds is directed towards its programs and mission-related activities. The charity has also implemented essential policies regarding conflicts of interest, whistleblower protection, and document retention, all of which contribute to its strong operational integrity. Additionally, the absence of any material diversion of assets underscores its commitment to responsible management of resources.
Despite these strengths, the rating does not reflect other aspects such as program effectiveness or community impact, which are important for a comprehensive evaluation. However, based on financial accountability and governance practices, the Iowa Foundation For Microenterprise And Community Vitality stands out as a trustworthy nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Iowa Foundation For Microenterprise And Community Vitality legitimate?
Iowa Foundation For Microenterprise And Community Vitality is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iowa Foundation For Microenterprise And Community Vitality 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.
Heare are some key statistics you may want to consider:
Executive Compensation: $87,875
Professional Fundraising Fees: $0
Other Salaries and Wages: $53,022
For more financial information, click here
Official website here: www.iowamicroloan.org
What is the mission statement of Iowa Foundation For Microenterprise And Community Vitality?
The Iowa Foundation for Microenterprise and Community Vitality's mission is focused on providing financial aid for businesses that typically fall outside the risk-tolerance threshold of conventional financial institutions. This non-profit organization aims to support enterprises operating on the fringe of risk-bearing capacity, thereby fostering their growth and contributing to the vitality of the community. By offering funding, this foundation aims to empower these businesses, potentially leading to economic development and job creation in the process.
Official website here: www.iowamicroloan.org
Who is the CEO of Iowa Foundation For Microenterprise And Community Vitality?
Craig Downs is the President of Iowa Foundation For Microenterprise And Community Vitality.
Official website here: www.iowamicroloan.org
What is the revenue of Iowa Foundation For Microenterprise And Community Vitality?
Iowa Foundation For Microenterprise And Community Vitality's revenue in 2022 was $551,415.
Official website here: www.iowamicroloan.org
Who are the executives of Iowa Foundation For Microenterprise And Community Vitality and what are their salaries?
The average compensation at Iowa Foundation For Microenterprise And Community Vitality during 2022 was $23,483. There are 6 employees and 17 volunteers at Iowa Foundation For Microenterprise And Community Vitality.
Here are 15 key members and their salaries:
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Official website here: www.iowamicroloan.org
Where can I find the form 990 for Iowa Foundation For Microenterprise And Community Vitality?
Iowa Foundation For Microenterprise And Community Vitality's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.iowamicroloan.org
Learn more at the official website: www.iowamicroloan.org
Mission Statement of Iowa Foundation For Microenterprise And Community Vitality
The Iowa Foundation for Microenterprise and Community Vitality is dedicated to a unique mission. Recognizing the challenges faced by microbusinesses that often fall outside the risk-bearing capacity of traditional financial institutions, this organization steps in to provide funding. By offering financial support to these ventures, the foundation plays a crucial role in fostering economic growth and community vitality. By extending a helping hand to these businesses, the foundation is essentially bridging the gap between entrepreneurial aspirations and limited access to capital, thereby promoting financial inclusion and economic empowerment.
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Impact
July, 2024
Iowa Foundation For Microenterprise And Community Vitality's impact lies in providing vital funding support to microbusinesses that are often considered too risky for traditional financial institutions. By catering to these underserved entrepreneurs, the foundation plays a crucial role in fostering economic growth and vitality within communities. Through its focus on supporting microbusinesses on the fringe of risk-bearing capacity, the foundation helps to empower individuals and promote local development. In doing so, it contributes significantly to community improvement and sustainability.
This information is meant to be a general summary of Iowa Foundation For Microenterprise And Community Vitality. Please take the time to review official sources before making any decisions based upon the content provided here.
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 2022.
- Investment Income: $16,694
- Program Service Revenue: $400
- Gross Receipts: $551,415
Assets and Liabilities:
- Total Assets: $1,445,760
- Total Liabilities: $702,223
- Net Assets: $743,537
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEES & CONTRACTS
Revenue
$400
Organization Details
Founding Year
2008
Phone
(515) 212-0182Principal Officer
Craig Downs
Main Address
PO BOX 793, BOONE, IA, 50036
Website
www.iowamicroloan.orgNTEE Category
Code: S30 - Community improvement
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