Overview
What is Ecia Business Growth Inc?
Ecia Business Growth Inc, headquartered in Dubuque, Iowa, serves as a facilitator for eligible businesses seeking financial assistance. They primarily process loan applications and disburse loans under the Small Business Administration (SBA) and various revolving loan programs. Their mission is to support the growth and development of businesses by providing them with subordinated loans, thereby contributing to the local economy and fostering financial stability.
Official website here: www.ecia.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 76% (Three-Star out of Four Star Rating)
Ecia Business Growth Inc has received a Three-Star rating from Charity Navigator, indicating a score of 76% based primarily on Accountability & Finance metrics. The organization has demonstrated strong governance and financial practices, with a perfect score in areas such as board independence and the absence of material asset diversion. Their program expense ratio is notably high at 85.81%, suggesting that a significant portion of their funds is allocated directly to their programs.
However, the organization does face limitations in its governance policies, as it has not implemented key policies such as a conflict of interest policy and a whistleblower policy, which contributed to lower scores in those categories. Additionally, while their documentation practices for board meeting minutes are satisfactory, the absence of a comprehensive conflict of interest policy may raise concerns among potential donors regarding transparency and accountability.
Overall, Ecia Business Growth Inc shows a commitment to effective financial management and program delivery, though improvements in governance policies could enhance their overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Ecia Business Growth Inc legitimate?
Ecia Business Growth Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ecia Business Growth 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.
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Official website here: www.ecia.org
What is the mission statement of Ecia Business Growth Inc?
Ecia Business Growth Inc's primary mission is centered around processing loan applications and providing subordinated loans to eligible businesses. This is accomplished through collaborations with the Small Business Administration (SBA) and various revolving loan funds. The organization's goal is to support the growth and development of these businesses, thereby contributing to economic growth and job creation. By offering financial assistance, Ecia Business Growth Inc plays a crucial role in fostering entrepreneurship and facilitating access to capital for eligible businesses.
Official website here: www.ecia.org
Who is the CEO of Ecia Business Growth Inc?
Sara Domeyer is the Chair Person of Ecia Business Growth Inc.
Official website here: www.ecia.org
What is the revenue of Ecia Business Growth Inc?
Ecia Business Growth Inc's revenue in 2022 was $1,010,238.
Official website here: www.ecia.org
Who are the executives of Ecia Business Growth Inc and what are their salaries?
Here are 13 key members and their salaries:
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Official website here: www.ecia.org
Where can I find the form 990 for Ecia Business Growth Inc?
Ecia Business Growth Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ecia.org
Learn more at the official website: www.ecia.org
Mission Statement of Ecia Business Growth Inc
Ecia Business Growth Inc, as a nonprofit organization, is committed to a mission centered around processing loan applications and making subordinated loans to eligible businesses. This mission is primarily achieved through partnerships with the Small Business Administration (SBA) and various revolving loan funds. The organization's role is instrumental in providing these businesses with financial support, serving as a crucial bridge between them and potential lenders. This mission aims to stimulate business growth and development, contributing to the broader economic landscape. By processing loan applications and making loans under the SBA and revolving loan programs, Ecia Business Growth Inc plays a crucial role in supporting the growth and sustainability of eligible businesses.
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Impact
July, 2024
Ecia Business Growth Inc's impact can be seen in the support it provides to eligible businesses through its loan processing and lending activities. By processing loan applications and offering subordinated loans under the SBA and various revolving loan programs, Ecia Business Growth Inc plays a crucial role in facilitating access to much-needed financial resources for businesses in Dubuque, Iowa. This support not only helps businesses grow and thrive but also contributes to the overall improvement of the local community.
This information is meant to be a general summary of Ecia Business Growth 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: $10,198
- Program Service Revenue: $1,000,040
- Gross Receipts: $1,010,238
Assets and Liabilities:
- Total Assets: $5,347,810
- Total Liabilities: $1,032,546
- Net Assets: $4,315,264
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CARES RLF GRANT PROCEEDS
Revenue
$641,000
LOAN SERVICE FEES
Revenue
$104,537
PROGRAM LOAN INTEREST
Revenue
$80,348
LOAN CLOSING FEES
Revenue
$74,936
CARES LOAN CLOSING FEES
Revenue
$55,542
Organization Details
Founding Year
1983
Phone
(563) 556-4166Principal Officer
Sara Domeyer
Main Address
7600 COMMERCE PARK, DUBUQUE, IA, 52002
Website
www.ecia.orgNTEE Category
Code: S400 - Community improvement
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