Overview
What is Grow Iowa Foundation?
The Grow Iowa Foundation is a nonprofit organization situated in Lenox, Iowa. Their primary mission is to stimulate economic growth in Southwest Iowa by providing financial assistance to local businesses and individuals. They have secured funds from various sources, including the USDA, to accomplish this. The foundation offers technical assistance, aiding businesses and individuals in creating business plans, exploring financing options, and identifying potential grant resources. Their aim is to foster sustainable development in the region.
Official website here: www.growiowa.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Star rating)
The Grow Iowa Foundation has achieved a solid rating of 83%, indicating a good level of accountability and financial health. The organization has a well-composed board, demonstrating a commitment to independence with full points for both majority independent board members and board size. Additionally, their low liabilities to assets ratio suggests that they maintain a healthy financial position.
The foundation exhibits strong program expense efficiency with an impressive program expense ratio of 82.71%, indicating that a significant portion of their resources is directed towards their mission. However, there are notable weaknesses in their governance practices, particularly the absence of a whistleblower policy and document retention and destruction policy, which are essential for transparency and risk management.
Overall, while the Grow Iowa Foundation demonstrates many strengths in financial accountability and programmatic focus, addressing its governance policy gaps could enhance its overall effectiveness and credibility.
This AI summary has been generated from information found on Charity Navigator.
Is Grow Iowa Foundation legitimate?
Grow Iowa Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Grow Iowa Foundation 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: $41,203
For more financial information, click here
Official website here: www.growiowa.org
What is the mission statement of Grow Iowa Foundation?
The Grow Iowa Foundation's mission is to facilitate economic development by offering financial assistance to businesses and individuals. This is achieved by providing them with the necessary resources and guidance, such as help with creating business plans and exploring financing options. The foundation receives funding from sources like the USDA to support this mission. In essence, the Grow Iowa Foundation aims to stimulate economic growth by offering financial aid, thereby contributing to the overall prosperity of its beneficiaries.
Official website here: www.growiowa.org
Who is the CEO of Grow Iowa Foundation?
Tysen Christensen is the President of Grow Iowa Foundation.
Official website here: www.growiowa.org
What is the revenue of Grow Iowa Foundation?
Grow Iowa Foundation's revenue in 2022 was $76,478.
Official website here: www.growiowa.org
Who are the executives of Grow Iowa Foundation and what are their salaries?
The average compensation at Grow Iowa Foundation during 2022 was $41,203. There is 1 employee and 20 volunteers at Grow Iowa Foundation.
Here are 5 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.growiowa.org
Where can I find the form 990 for Grow Iowa Foundation?
Grow Iowa Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.growiowa.org
Learn more at the official website: www.growiowa.org
Mission Statement of Grow Iowa Foundation
The Grow Iowa Foundation, as a nonprofit organization, is committed to providing financial assistance to businesses and individuals situated in Southwest Iowa. This mission is aimed at fostering economic development in the region. The foundation accomplishes this by securing revolving loan funds from various sources, including the USDA. Beyond offering financial aid, Grow Iowa Foundation also extends technical assistance to its beneficiaries. This assistance encompasses helping businesses and individuals with the creation of well-structured business plans, exploring financing options, and identifying potential grant resources.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
August, 2024
Grow Iowa Foundation's impact is seen in the tangible support and financial assistance it provides to businesses and individuals in Southwest Iowa. By securing revolving loan funds from the USDA and other sources, the foundation plays a crucial role in promoting economic development in the region. Additionally, its provision of technical assistance in areas such as business planning, financing options, and grant resources further empowers local entrepreneurs and fosters economic growth. Through its efforts, Grow Iowa Foundation actively contributes to the improvement and development of the community in Southwest Iowa.
This information is meant to be a general summary of Grow Iowa Foundation. 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: $27,470
- Program Service Revenue: $49,008
- Gross Receipts: $76,478
Assets and Liabilities:
- Total Assets: $4,281,392
- Total Liabilities: $1,249,838
- Net Assets: $3,031,554
Want to help this charity, for free? You can click here to learn more about Give Freely
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FEE INCOME
Revenue
$2,392
LOAN INTEREST INCOME
Revenue
$46,616
Organization Details
Founding Year
1995
Phone
(641) 202-1558Principal Officer
Tysen Christensen
Main Address
PO BOX 51, LENOX, IA, 50851
Website
www.growiowa.orgNTEE Category
Code: S20 - Community improvement
If you are a representative of Grow Iowa Foundation and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.