Northern Shores Loan Fund Inc

Organization Overview

Northern Shores Loan Fund Inc is located in Harbor Springs, MI. The organization was established in 2008. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Northern Shores Loan Fund Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern Shores 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 12/2022, Northern Shores Loan Fund Inc generated $125.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (6.9%) each year. All expenses for the organization totaled $310.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

TO ASSIST PRIMARILY AMERICAN INDIAN COMMUNITIES AND OTHER UNDERSERVED MICHIGAN RESIDENTS WITH TRAINING, BUSINESS INCUBATION AND ACCESS TO CAPITAL.

Describe the Organization's Program Activity:

Part 3 - Line 4a

PROVIDED LOANS TO TARGET POPULATIONS IN NORTHERN MICHIGAN. THERE ARE 48 LOANS OUTSTANDING AS OF DECEMBER 31, 2022.


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Board, Officers & Key Employees

Name (title)Compensation
Patrick Schmidt
Trustee
$0
Harley Luplow
Trustee
$0
Laura Blumberg
Chair
$0
Pat Dyer-Deckrow
Vice-Chair
$0
Kent Bartell
Treasurer
$0
Steven Sochay
Secretary
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $98,537
All other contributions, gifts, grants, and similar amounts not included above$5,805
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$104,342
Total Program Service Revenue$21,251
Investment income $80
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 $125,673

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