Overview
What is Iowa Center Loan Fund?
The Iowa Center Loan Fund is a nonprofit organization that specializes in supporting the growth of small businesses. By offering fixed-interest rate loans with terms up to five years and no down payment requirements, it provides essential capital to new and expanding businesses. As of June 30, 2021, 12 businesses had loans from the organization, increasing to 17 by June 30, 2023, and reaching 9 by June 30, 2022. The organization's mission is to promote responsible and affordable lending, aiming to expand economic opportunities for businesses in the region.
Official website here: www.theiowacenter.org
Is Iowa Center Loan Fund legitimate?
Iowa Center Loan Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iowa Center Loan Fund submitted a form 990EZ, 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: $147,727
For more financial information, click here
Official website here: www.theiowacenter.org
What is the mission statement of Iowa Center Loan Fund?
The Iowa Center Loan Fund's mission is to facilitate the growth of small businesses by providing them with necessary capital. This is achieved through the provision of fixed-interest rate loans, with terms extending up to five years and requiring no down payments. The organization aims to promote responsible and affordable lending, thereby expanding economic opportunities. As of June 30, 2022, 9 businesses had benefited from these loans, and the number had increased to 17 by June 30, 2023. The fund's primary goal is to foster business expansion and development, thereby contributing to economic growth.
Official website here: www.theiowacenter.org
What is the revenue of Iowa Center Loan Fund?
Iowa Center Loan Fund's revenue in 2024 was $101,298.
Official website here: www.theiowacenter.org
Who are the executives of Iowa Center Loan Fund and what are their salaries?
The average compensation at Iowa Center Loan Fund during 2024 was $9,233. There are 16 employees and 4 volunteers at Iowa Center Loan Fund.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $139,768
- Other: $9,573
- 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: $83,192
- Other: $9,244
Official website here: www.theiowacenter.org
Where can I find the form 990 for Iowa Center Loan Fund?
Iowa Center Loan Fund's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.theiowacenter.org
Learn more at the official website: www.theiowacenter.org
Mission Statement of Iowa Center Loan Fund
The Iowa Center Loan Fund, as an organization, is committed to providing new and growing small businesses with access to essential capital. This is achieved through the provision of fixed-interest rate loans, which come with flexible terms extending up to five years and do not require any down payments. The primary goal of this nonprofit is to promote responsible and affordable lending, aiming to expand economic opportunities for various businesses. As of June 30, 2022, nine businesses have benefited from these loans, with this number increasing to 17 by June 30, 2023. The Iowa Center Loan Fund plays a pivotal role in supporting the growth and success of small businesses, thereby contributing to the overall economic development of the community.
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Impact
August, 2024
Iowa Center Loan Fund's impact can be seen in the growth and support it provides to new or growing small businesses in Iowa. The organization offers fixed interest rate loans with up to 5-year terms and no down payments required, enabling entrepreneurs to access the capital they need to thrive. By June 30, 2021, 12 businesses had received loans through the organization, a number that increased to 17 by June 30, 2023, showcasing the program's expanding reach and impact on local economic development. Through responsible and affordable lending practices, Iowa Center Loan Fund is playing a key role in expanding economic opportunities for small businesses in Des Moines and beyond.
This information is meant to be a general summary of Iowa Center Loan Fund. 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: $17,583
- Program Service Revenue: $21,311
- Gross Receipts: $101,298
Assets and Liabilities:
- Total Assets: $397,183
- Total Liabilities: $187,463
- Net Assets: $209,720
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INCOME
Revenue
$21,311
Organization Details
Principal Officer
Megan Milligan
Website
www.theiowacenter.orgNTEE Category
Code: S43 - Community improvement
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