Overview
What is One Economy Financial Development Corp?
One Economy Financial Development Corp is a nonprofit organization situated in Des Moines, Iowa. Their primary focus is to provide financial assistance to individuals and small businesses who may be underserved or overlooked by traditional banking systems. In June 2021, they launched the Solidarity Loan Program, which distributed a total of $143,325 in loans to 18 different clients. This nonprofit's mission is to create a pathway towards financial stability and wealth for low to moderate income individuals and businesses, with a special emphasis on the Black community in Central Iowa.
Official website here: www.oefdc.org/
Is One Economy Financial Development Corp legitimate?
One Economy Financial Development Corp is a legitimate nonprofit organization registered as a 501(c)(3) entity. One Economy Financial Development Corp 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: $64,035
For more financial information, click here
Official website here: www.oefdc.org/
What is the mission statement of One Economy Financial Development Corp?
One Economy Financial Development Corp's mission is focused on establishing a pathway to financial stability and wealth for individuals and small businesses with low to moderate income, with a particular emphasis on the Black community in Central Iowa. They aim to achieve this by providing financial assistance to those who are underserved or underrepresented in the traditional banking system, through their Solidarity Loan Program. The program, launched in June 2021, has made loans totaling $143,325 to 18 different clients, demonstrating their commitment to supporting this community.
Official website here: www.oefdc.org/
Who is the CEO of One Economy Financial Development Corp?
Vince Lintz is the Executive Director of One Economy Financial Development Corp.
Official website here: www.oefdc.org/
What is the revenue of One Economy Financial Development Corp?
One Economy Financial Development Corp's revenue in 2022 was $170,216.
Official website here: www.oefdc.org/
Who are the executives of One Economy Financial Development Corp and what are their salaries?
There 8 volunteers at One Economy Financial Development Corp.
Here are 14 key members and their salaries:
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Official website here: www.oefdc.org/
Where can I find the form 990 for One Economy Financial Development Corp?
One Economy Financial Development Corp's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.oefdc.org/
Learn more at the official website: www.oefdc.org/
Mission Statement of One Economy Financial Development Corp
One Economy Financial Development Corp is an organization dedicated to establishing a pathway towards financial stability and wealth for individuals and small businesses belonging to the low to moderate income bracket, with a particular focus on the Black community in Central Iowa. By underlining the significance of the Black community, this nonprofit aims to bridge the gap in financial services for those who are often overlooked or underserved by traditional banking systems.
The core activity of One Economy Financial Development Corp revolves around its Solidarity Loan Program. This initiative grants loans to individuals and businesses that lack access to financial support from mainstream banking systems. Funded in June 2021, the program has already made 30 loans, amounting to $143,325, to 18 different clients. This loan program is a testament to One Economy Financial Development Corp's commitment to assisting those in need, thereby contributing to their overall financial stability and wealth creation.
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Impact
October, 2024
One Economy Financial Development Corp significantly enhances financial stability and wealth among low to moderate-income individuals and small businesses, particularly focusing on the Black community in Central Iowa. Through initiatives like the Solidarity Loan Program, they provide essential financial support to those often left behind by traditional banking systems.
Since its launch in June 2021, the program has successfully facilitated 30 loans, amounting to $143,325, helping 18 different clients gain access to the resources needed to improve their economic situations. This effort not only aids individual clients but also fosters community improvement by bolstering local economies and empowering underserved populations. The organization's commitment to creating pathways for financial advancement plays a crucial role in addressing systemic inequities and promoting sustainable economic growth within the community.
This information is meant to be a general summary of One Economy Financial Development Corp. 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: $7,832
- Gross Receipts: $170,216
Assets and Liabilities:
- Total Assets: $616,098
- Total Liabilities: $297,643
- Net Assets: $318,455
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Organization Details
Founding Year
2019
Phone
(515) 500-6080Principal Officer
Vince Lintz
Main Address
PO BOX 270, DES MOINES, IA, 50318
Website
www.oefdc.org/NTEE Category
Code: S20 - Community improvement
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