Overview
What is Chi Ishobak Inc?
Chi Ishobak Inc is a nonprofit organization based in Dowagiac, Michigan, with a mission to provide affordable capital for business loans and individual financial development to Tribal citizens. They achieve this through collaborative and education-focused lending services, aiming to promote responsible lending and protect loan capital for future generations. Over 1,000 Tribal citizens have benefited from their commercial loans, consumer loans, business development assistance, and individual financial coaching, with over $14.1 million disbursed for various purposes. The organization currently employs a team of three individuals.
Official website here: www.chiishobak.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 88% (Three-Star out of Four Star rating)
Chi Ishobak Inc has received a solid Three-Star rating from Charity Navigator, reflecting an overall score of 88%. This rating indicates a strong level of accountability and financial health. Notably, the organization excels in areas such as board independence and financial oversight, with all major metrics related to governance achieving top scores. The program expense ratio of 73.73% further highlights their commitment to effectively channeling funds into their programs.
Despite these strengths, there are areas where Chi Ishobak Inc could improve. The organization scored poorly on its whistleblower and document retention policies, receiving zero points in both categories. Additionally, they did not post their tax forms on their website, which is an important transparency measure. These limitations might raise concerns regarding their operational transparency and adherence to best practices.
Overall, while Chi Ishobak Inc demonstrates a strong commitment to accountability and effective program funding, addressing the noted weaknesses could enhance their credibility and stakeholder confidence.
This AI summary has been generated from information found on Charity Navigator.
Is Chi Ishobak Inc legitimate?
Chi Ishobak Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chi Ishobak 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: $196,640
Professional Fundraising Fees: $0
Other Salaries and Wages: $104,720
For more financial information, click here
Official website here: www.chiishobak.org
What is the mission statement of Chi Ishobak Inc?
Chi Ishobak Inc's mission is centered around providing affordable capital to tribal citizens for business loans and personal financial development. They achieve this through collaborative and education-focused lending services, aiming to practice responsible lending to safeguard loan capital for future generations. By offering these services, Chi Ishobak Inc aims to boost the financial capacity of tribal citizens and generate economic opportunities. Over a thousand tribal citizens have benefited from their commercial loans, consumer loans, business development assistance, and individual financial coaching, with over $14.1 million disbursed for small business expansion, start-ups, and consumer uses.
Official website here: www.chiishobak.org
Who is the CEO of Chi Ishobak Inc?
Bruce Molnar is the Executive Director of Chi Ishobak Inc.
Official website here: www.chiishobak.org
What is the revenue of Chi Ishobak Inc?
Chi Ishobak Inc's revenue in 2022 was $1,872,798.
Official website here: www.chiishobak.org
Who are the executives of Chi Ishobak Inc and what are their salaries?
The average compensation at Chi Ishobak Inc during 2022 was $100,453. There are 3 employees at Chi Ishobak Inc.
Here are 10 key members and their salaries:
- Compensation: $147,565
- Related: $0
- Other: $39,075
- Compensation: $1,500
- Related: $0
- Other: $0
- Compensation: $1,250
- Related: $0
- Other: $0
- Compensation: $1,250
- Related: $0
- Other: $0
- Compensation: $1,250
- Related: $0
- Other: $0
- Compensation: $1,250
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $750
- Related: $0
- Other: $0
- Compensation: $750
- Related: $0
- Other: $0
Official website here: www.chiishobak.org
Where can I find the form 990 for Chi Ishobak Inc?
Chi Ishobak Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.chiishobak.org
Learn more at the official website: www.chiishobak.org
Mission Statement of Chi Ishobak Inc
Chi Ishobak Inc, a nonprofit organization, is dedicated to providing affordable capital for business loans and individual financial development for its tribal citizens. It achieves this mission through collaborative and education-oriented lending services, aiming to practice responsible lending to protect loan capital for future generations. The primary goal of Chi Ishobak Inc is to boost the financial capacity of tribal citizens and create economic opportunities. Over a thousand tribal citizens have benefited from the organization's services, including commercial loans, consumer loans, business development assistance, and individual financial coaching. As a result, over $14.1 million has been disbursed for small business expansion, start-ups, and consumer uses. By providing these financial resources, Chi Ishobak Inc empowers tribal citizens to build sustainable businesses and improve their financial well-being.
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Impact
October, 2024
Chi Ishobak Inc significantly enhances the financial landscape for tribal citizens, fostering economic growth and self-sufficiency through accessible financial resources. By offering affordable capital for business loans and individual financial development, Chi Ishobak empowers over 1,000 tribal members to pursue their entrepreneurial aspirations and improve their financial literacy.
The organization has disbursed more than $14.1 million to support small business expansion, startups, and consumer needs, directly contributing to job creation and economic vitality in the community. Its focus on responsible lending practices ensures that these financial resources remain sustainable for future generations, reflecting a strong commitment to both immediate support and long-term community well-being.
Through collaborative and education-oriented lending services, Chi Ishobak not only increases the financial capacity of tribal citizens but also encourages a culture of economic empowerment and self-reliance. Overall, Chi Ishobak Inc plays a critical role in creating significant economic opportunities and improving the quality of life within the tribal community.
This information is meant to be a general summary of Chi Ishobak 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 2022.
- Investment Income: $44,374
- Program Service Revenue: $522,997
- Gross Receipts: $1,872,798
Assets and Liabilities:
- Total Assets: $9,783,491
- Total Liabilities: $1,851,323
- Net Assets: $7,932,168
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$439,553
LOAN FEES
Revenue
$83,444
Organization Details
Founding Year
2009
Phone
(269) 783-4157Principal Officer
Bruce Molnar
Main Address
27043 POTAWATOMI TRAIL, DOWAGIAC, MI, 49047
Website
www.chiishobak.orgNTEE Category
Code: S32 - Community improvement
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