Economic Empowerment Center
- Assets
- $3.8m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Omaha, NE
- Founding
- 05/2019
- Data as of
- 12/2021
- EIN
- 83-2198837
Organization Overview
Economic Empowerment Center, operating under the name Lending Link Credit Solutions, is located in Omaha, NE. The organization was established in 2019. According to its NTEE Classification (P51) the organization is classified as: Financial Counseling, under the broad grouping of Human Services and related organizations. As of 12/2021, Lending Link Credit Solutions employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lending Link Credit Solutions 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, Lending Link Credit Solutions generated $11.9m in total revenue. All expenses for the organization totaled $10.8m during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO GIVE PEOPLE A PATH TO FINANCIAL STABILITY AND IMPROVED FINANCIAL HEALTH BY OFFERING LOW-COST LOANS TO RESIDENTS AND SMALL BUSINESSES IN OMAHA, WHO HAVE DIFFICULTY ACCESSING LOANS FROM TRADITIONAL LENDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GIVE PEOPLE A PATH TO FINANCIAL STABILITY AND IMPROVED FINANCIAL HEALTH BY OFFERING LOW-COST LOANS WITH LONGER REPAYMENT TERMS TO RESIDENTS AND SMALL BUSINESSES IN OMAHA, WHO HAVE DIFFICULTY IN ACCESSING LOANS FROM TRADITIONAL LENDERS. THIS IS ACCOMPLISHED BY PROVIDING FINANCIAL COACHING AND HELPING PEOPLE TRANSITION AWAY FROM PAYDAY AND OTHER PREDATORY LENDERS WITH THE ULTIMATE GOAL BEING TO HELP PEOPLE ACHIEVE LONG-TERM FINANCIAL HEALTH.
THE ORGANIZATION WAS ASKED TO HELP ADMINISTER THE ANGEL GRANT PROGRAM IN 2021 FOR NEBRASKA RESIDENTS WHO DID NOT QUALIFY FOR FEDERAL STIMULUS PAYMENTS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Padilla Executive Director | Officer | 50 | $133,266 |
Gerald Byers Chief Financial Officer | Officer | 30 | $95,957 |
John Bourne Board Chair | Trustee | 2 | $0 |
Carmen Tapio Board Vice Chair | Trustee | 2 | $0 |
Madeline Moyer Board Secretary | Trustee | 2 | $0 |
Alec Gorynski Board Treasurer | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,802,058 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,802,058 |
| Total Program Service Revenue | $70,342 |
| Investment income | -$339 |
| 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 | $11,872,061 |
| 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 | $10,192,965 |
| Compensation of current officers, directors, key employees. | $229,224 |
| Compensation of current officers, directors, key employees. | $28,266 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $174,579 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $129,812 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,651 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,098 |
| Advertising and promotion | $1,162 |
| Office expenses | $9,012 |
| Information technology | $21,210 |
| Royalties | $0 |
| Occupancy | $32,668 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,211 |
| All other expenses | $0 |
| Total functional expenses | $10,837,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,230,098 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,520,997 |
| Total assets | $3,751,095 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $3,231,143 |
| Net assets with donor restrictions | $519,952 |
| 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 | $3,751,095 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Economic Empowerment Center has recieved totaling $11,895,517.
| Awarding Organization | Amount |
|---|---|
Sherwood Foundation Omaha, NE PURPOSE: LENDING LINK COVID-19 GRANTS | $10,035,517 |
Sherwood Foundation Omaha, NE PURPOSE: 2021 LENDING POOL | $1,000,000 |
Sherwood Foundation Omaha, NE PURPOSE: 2021 OPERATING GRANT | $420,000 |
Sherwood Foundation Omaha, NE PURPOSE: 2022 OPERATING GRANT | $420,000 |
Mutual Of Omaha Foundation Omaha, NE PURPOSE: GENERAL SUPPORT | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Economic Empowerment Center Omaha, NE | $3,751,095 | $11,872,061 |
North Iowa Community Action Organization Mason City, IA | $4,791,194 | $9,251,857 |
Consumer Credit Of Des Moines Des Moines, IA | $2,361,855 | $1,382,576 |
Credit Advisors Foundation Omaha, NE | $5,047,344 | $1,612,156 |
Allen Credit & Debt Counseling Agency Wolsey, SD | $408,689 | $1,340,879 |
Black Hills Childrens Ranch Inc Rapid City, SD | $795,827 | $1,321,713 |
Family Financial Education Foundation Evanston, WY | $2,580,776 | $1,346,527 |
Prosperity Connection St Louis, MO | $1,393,127 | $1,257,430 |
Center For Siouxland Sioux City, IA | $2,429,304 | $818,535 |
Community Enterprise Development Services Aurora, CO | $7,776,464 | $2,438,749 |
Housing And Credit Counseling Inc Topeka, KS | $1,465,189 | $741,277 |
Consumer Credit Counseling Service Of Salina Inc Salina, KS | $360,345 | $376,593 |