Overview
What is Iowa Capital Investment Corporation?
Iowa Capital Investment Corporation (ICIC) serves as the manager of the Iowa Fund of Funds, with a mission to benefit the state of Iowa. ICIC's primary role is to invest in venture capital funds that maintain a presence in Iowa and seek investment opportunities within the state during their active period. By doing so, ICIC fosters economic development and social welfare in Iowa, alleviating burdens on the state government. ICIC collaborates with Iowa universities, regional business accelerators, and local development groups to support aspiring Iowa growth businesses, encouraging investment in local industry and creating jobs to combat unemployment.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 30% (Zero-Star out of Four Star rating)
The Iowa Capital Investment Corporation has received a low rating of 30% from Charity Navigator, indicating significant issues with its accountability and financial management. The organization scores well for having a majority of independent board members and for its conflict of interest policy, but this is overshadowed by poor performance in critical areas such as board size, transparency, and financial health.
Several key indicators contributed to this low score. The organization has not posted its tax forms or meeting minutes online, which raises transparency concerns. Additionally, the liabilities to assets ratio and program expense ratio scored poorly, suggesting potential financial instability and inefficiencies in program funding.
Overall, while there are some positive aspects regarding board independence and certain policies, the significant deficiencies in transparency and financial management highlight areas needing urgent improvement for the Iowa Capital Investment Corporation to gain trust and better serve its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Iowa Capital Investment Corporation legitimate?
Iowa Capital Investment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iowa Capital Investment Corporation 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
For more financial information, click here
What is the mission statement of Iowa Capital Investment Corporation?
The Iowa Capital Investment Corporation (ICIC) is primarily established to manage the Iowa Fund of Funds. Its activities are solely for the benefit of the state of Iowa. The organization promotes economic development and enhances social welfare within the state. By serving as the general partner and operating the Iowa Fund of Funds, ICIC encourages investments in local industries, thereby creating job opportunities and helping to alleviate unemployment in Iowa. In essence, ICIC works towards lessening the burdens imposed upon the state's government.
Who is the CEO of Iowa Capital Investment Corporation?
Mary Moisman is the President of Iowa Capital Investment Corporation.
What is the revenue of Iowa Capital Investment Corporation?
Iowa Capital Investment Corporation's revenue in 2022 was $75,000.
Who are the executives of Iowa Capital Investment Corporation and what are their salaries?
There 1 volunteer at Iowa Capital Investment Corporation.
There is 1 key member and their salary:
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Iowa Capital Investment Corporation?
Iowa Capital Investment Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Iowa Capital Investment Corporation
Iowa Capital Investment Corporation, abbreviated as ICIC, is dedicated to serving the exclusive benefit of the state of Iowa. Its primary mission revolves around organizing and managing the Iowa Fund of Funds. ICIC conducts its activities with this objective in mind, promoting economic development and enhancing social welfare within Iowa. By serving as the general partner and operating the Iowa Fund of Funds, ICIC encourages investment in local industries. This investment, in turn, creates job opportunities and helps alleviate unemployment within the state, lessening the burdens imposed upon the state's government. In essence, Iowa Capital Investment Corporation works towards fostering a thriving economic landscape in Iowa, ultimately contributing to the betterment of the state as a whole.
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Impact
October, 2024
Iowa Capital Investment Corporation (ICIC) plays a significant role in fostering economic development and enhancing social welfare in Iowa. By managing the Iowa Fund of Funds, ICIC has committed approximately $34.96 million to venture capital funds that maintain a presence in Iowa and actively seek investment opportunities within the state. This strategic focus not only fuels local industry growth but also creates jobs and helps reduce unemployment.
The impact of ICIC extends beyond mere financial investment. The selected venture fund managers are required to engage in various Iowa venture activities and conduct aggressive deal prospecting throughout the state. This collaboration has led to strengthened partnerships with Iowa universities, regional business accelerators, and local development groups, thereby supporting aspiring growth businesses. Through these efforts, ICIC promotes a thriving entrepreneurial ecosystem that benefits the entire community and lessens the burdens on state governance, ultimately contributing to Iowa's economic resilience and vitality.
This information is meant to be a general summary of Iowa Capital Investment Corporation. 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.
- Program Service Revenue: $75,000
- Gross Receipts: $75,000
Assets and Liabilities:
- Total Assets: $493,185
- Total Liabilities: $1,700
- Net Assets: $491,485
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MANAGEMENT FEES
Revenue
$75,000
Organization Details
Founding Year
2002
Phone
(515) 883-2904Principal Officer
Mary Moisman
Main Address
4045 NW 64TH STREET 405, OKLAHOMA CITY, OK, 73116
NTEE Category
Code: S300 - Community improvement
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