Overview
What is Mo-Kan Development Inc?
Mo-Kan Development Inc is a nonprofit organization that primarily focuses on assisting small businesses in securing loans. Although the provided information is limited, it suggests that Mo-Kan Development Inc serves as a facilitator, helping small businesses navigate the process of obtaining loans. This organization's mission likely contributes to economic growth and sustenance within the communities they serve.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (73%, Two-Star out of Four Star rating)
Mo-Kan Development Inc has received a "Needs Improvement" rating from Charity Navigator, indicating that while there are some strengths in their operations, several key accountability and transparency issues exist. The organization boasts a fully independent board of directors, with 100% of its members being independent and a strong liabilities to assets ratio of 4.99%. Additionally, Mo-Kan allocates a substantial portion of its expenses, 71.17%, directly to its programs, highlighting a commitment to its mission.
However, the nonprofit has several shortcomings that have impacted its overall score. Notably, it lacks essential policies such as a conflict of interest policy, a whistleblower policy, and guidelines for document retention and destruction. Furthermore, the organization's website was not listed on its tax form, which detracted from its transparency and accessibility efforts. These limitations suggest that while Mo-Kan Development Inc is functioning in many effective ways, there are significant areas for improvement regarding governance practices and public engagement.
This AI summary has been generated from information found on Charity Navigator.
Is Mo-Kan Development Inc legitimate?
Mo-Kan Development Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Mo-Kan Development 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:
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What is the mission statement of Mo-Kan Development Inc?
Mo-Kan Development Inc's primary mission is to aid small businesses in securing loans. This organization serves as a facilitator, providing assistance to entrepreneurs who may struggle with obtaining financing for their ventures. By offering this service, Mo-Kan Development Inc plays a significant role in supporting the growth and development of small businesses, contributing to economic stability and growth in the community.
What is the revenue of Mo-Kan Development Inc?
Mo-Kan Development Inc's revenue in 2024 was $115,311.
Who are the executives of Mo-Kan Development Inc and what are their salaries?
Here are 11 key members and their salaries:
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Where can I find the form 990 for Mo-Kan Development Inc?
Mo-Kan Development Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Mission Statement of Mo-Kan Development Inc
Mo-Kan Development Inc is committed to aiding small businesses in their quest for loans. This nonprofit organization serves as a vital resource, striving to make loan acquisition more accessible for these businesses. By providing assistance, Mo-Kan Development Inc aims to boost economic growth and foster the success of small enterprises within the community.
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Impact
August, 2024
Mo-Kan Development Inc's impact lies in its vital role in assisting small businesses in obtaining loans in the city of Saint Joseph, MO. By providing this crucial financial support, Mo-Kan Development Inc contributes to the economic growth and sustainability of the local community. Through their efforts, they help stimulate entrepreneurship, create job opportunities, and foster overall community improvement.
This information is meant to be a general summary of Mo-Kan Development 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: $8,845
- Program Service Revenue: $70,418
- Gross Receipts: $115,311
Assets and Liabilities:
- Total Assets: $586,845
- Total Liabilities: $36,033
- Net Assets: $550,812
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICING FEES
Revenue
$49,309
ESCROW/INTEREST
Revenue
$20,761
MISCELLANEOUS
Revenue
$348
Organization Details
Founding Year
1982
Principal Officer
Rodger Karn
NTEE Category
Code: S43 - Community improvement
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