Native360 Loan Fund Inc
- Assets
- $7.4m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 2
- Location
- Grand Island, NE
- Founding
- 07/2011
- Data as of
- 12/2021
- EIN
- 27-4573866
Organization Overview
Native360 Loan Fund Inc is located in Grand Island, NE. The organization was established in 2011. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Native360 Loan Fund Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Native360 Loan Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Native360 Loan Fund Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.0% each year . All expenses for the organization totaled $762.6k during the year ending 12/2021. While expenses have increased by 7.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AFFORDABLE CREDIT, CAPITAL, TECHNICAL ASSISTANCE AND PROGRAMS TO PONCA TRIBAL MEMBERS AND OTHER NATIVE AMERICANS ENCOURAGING THEM TO BECOME STRONG AND SELF SUFFICIENT BUSINESS OWNERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO PONCA TRIBE OF NEBRASKA TRIBAL MEMBERS AND OTHER NATIVE AMERICANS SEEKING TO START, MAINTAIN OR EXPAND SMALL BUSINESSES. THIS SUPPORT WILL COME FROM WORKSHOPS, SEMINARS, WEB BASED SERVICES, HELP WRITING A BUSINESS PLAN, CREDIT REPAIR SERVICES, ENTREPRENEURIAL TRAINING, WEB BASED TECHNICAL ASSISTANCE, AND MORE. ACTIVITIES WILL ADDRESS BARRIERS LIMITING SUCCESSFUL DEVELOPMENT OF MICRO BUSINESSES. FIRST PONCA FINANCIAL WILL ALSO MAKE LOANS TO THE SAME PERSONS THAT PARTICIPATE IN ITS TRAINING AND ASSISTANCE PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Todd Mullinar Vice Chair | OfficerTrustee | 5 | $0 |
Sam Nelson Chairman | OfficerTrustee | 5 | $0 |
Rory Bowen Treasurer | OfficerTrustee | 5 | $0 |
Percy Upton Secretary | Trustee | 45 | $0 |
Bruce Long Director | Trustee | 5 | $0 |
Jenifer Richardson Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,335,237 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,335,237 |
| Total Program Service Revenue | $163,667 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,498,904 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $148,706 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,959 |
| Pension plan accruals and contributions | $14,291 |
| Other employee benefits | $45,767 |
| Payroll taxes | $15,320 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,358 |
| Fees for services: Accounting | $8,603 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $113,988 |
| Advertising and promotion | $15,485 |
| Office expenses | $60,049 |
| Information technology | $3,389 |
| Royalties | $0 |
| Occupancy | $6,160 |
| Travel | $12,742 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $68,238 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $954 |
| Insurance | $7,489 |
| All other expenses | $82,431 |
| Total functional expenses | $762,584 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,010,422 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,974,053 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $417 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $410,203 |
| Total assets | $7,395,095 |
| Accounts payable and accrued expenses | $35,664 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $2,625,450 |
| Other liabilities | $0 |
| Total liabilities | $2,661,114 |
| Net assets without donor restrictions | $4,733,981 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,395,095 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Native360 Loan Fund Inc has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
First Nations Oweesta Corporation Longmont, CO PURPOSE: GRANT | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Icast Internationl Center For Appropriate & Sustanabl Technology Lakewood, CO | $9,165,224 | $20,236,331 |
East Central Kansas Economic Opportunity Corp Ottawa, KS | $5,122,658 | $10,399,835 |
Rural America Initiatives Rapid City, SD | $11,020,564 | $7,975,941 |
Missouri Incutech Foundation Rolla, MO | $1,463,624 | $4,973,546 |
Dubois Community Project Inc Dubois, WY | $25,993 | $2,941 |
Pulaski County Growth Alliance Saint Robert, MO | $34,130 | $1,396,256 |
Rural Electric Economic Development Inc Madison, SD | $44,957,084 | $2,458,763 |
Native360 Loan Fund Inc Grand Island, NE | $7,395,095 | $2,498,904 |
South Eastern Development Foundation Sioux Falls, SD | $22,464,210 | $4,520,935 |
The Blessing Projects Moran, WY | $225,465 | $598,592 |
Northeast Missouri Regional Planning Commission Memphis, MO | $1,257,078 | $608,524 |
Northwest Douglas County Economic Development Corporation Highlands Ranch, CO | $400,033 | $401,030 |