Overview
What is Cedar Valley Growth Fund I Inc?
Cedar Valley Growth Fund I Inc is a nonprofit entity situated in Waterloo, Iowa. Its primary purpose is to promote economic growth in the area by providing development loans. This organization acts as a catalyst for community enhancement, operating as an economic development organization that extends financial aid to support local projects and ventures. By offering these loans, Cedar Valley Growth Fund I Inc plays a significant role in fostering development and progress within its community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (60%, Two-Star out of Four Star rating)
Cedar Valley Growth Fund I Inc has received a rating of "Needs Improvement" from Charity Navigator, reflecting an overall score of 60%. The organization demonstrates strong governance practices with a fully independent board, scoring 10 out of 10 in both board independence and size. Additionally, the nonprofit has shown no material diversion of assets, receiving full points in that category. However, deficiencies in transparency are evident, as key policies such as conflict of interest, whistleblower, and document retention are missing.
The organization's financial performance shows a program expense ratio of 68.34%, indicating a significant portion of funds directed towards its mission-related activities. However, the liabilities to assets ratio stands at 64.13%, suggesting potential financial challenges that could impact sustainability. Despite these concerns, the nonprofit has maintained good practices in documenting board meeting minutes, which is a positive aspect of its governance.
Areas for improvement include enhancing transparency by establishing missing policies and ensuring that essential documents are posted on its website, as required. Addressing these deficiencies could help Cedar Valley Growth Fund I Inc improve its accountability and overall rating, allowing it to build greater trust with donors and stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Cedar Valley Growth Fund I Inc legitimate?
Cedar Valley Growth Fund I Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cedar Valley Growth Fund I Inc 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Cedar Valley Growth Fund I Inc?
Cedar Valley Growth Fund I Inc, functioning as an economic development organization, embarks on its mission by providing economic development loans. Their primary objective is to support and stimulate growth within the relevant economic sector. By offering these loans, they aim to contribute to the overall development and prosperity of the community. The organization's activities are focused on fostering economic growth and enhancing opportunities for businesses and individuals.
What is the revenue of Cedar Valley Growth Fund I Inc?
Cedar Valley Growth Fund I Inc's revenue in 2024 was $153,172.
Who are the executives of Cedar Valley Growth Fund I Inc and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Cedar Valley Growth Fund I Inc?
Cedar Valley Growth Fund I Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Cedar Valley Growth Fund I Inc
Cedar Valley Growth Fund I Inc is dedicated to promoting economic development by offering loans as part of its mission. Acting as an economic development organization, this nonprofit aims to contribute to the growth and prosperity of various sectors and industries. By providing financial assistance, Cedar Valley Growth Fund I Inc facilitates the expansion of businesses and initiatives that can contribute positively to their communities. This mission aligns with the broader goal of fostering economic development and promoting sustainable growth.
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Impact
October, 2024
Cedar Valley Growth Fund I Inc plays a significant role in fostering economic development in the Waterloo, Iowa area through its provision of economic development loans. By offering financial support to local businesses, the organization enhances community improvement and stimulates economic growth. The impact extends beyond just providing loans; it supports job creation, entrepreneurship, and the overall economic vitality of the region. By empowering businesses to expand and thrive, Cedar Valley Growth Fund I contributes to a more robust local economy and improved quality of life for residents in the community.
This information is meant to be a general summary of Cedar Valley Growth Fund I Inc. 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 2024.
- Investment Income: $16,429
- Program Service Revenue: $8,385
- Gross Receipts: $175,632
Assets and Liabilities:
- Total Assets: $1,802,473
- Total Liabilities: $1,156,068
- Net Assets: $646,405
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICES
Revenue
$8,385
Organization Details
Founding Year
2009
Principal Officer
Steven Lindaman
NTEE Category
Code: S43 - Community improvement
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