One Economy
- Assets
- $665.5k
- Revenue
- $193.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Des Moines, IA
- Founding
- 04/2019
- Data as of
- 09/2023
- EIN
- 83-3749919
Organization Overview
One Economy is located in Des Moines, IA. The organization was established in 2019. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. One Economy 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 09/2023, One Economy generated $193.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (23.1%) each year. All expenses for the organization totaled $279.5k during the year ending 09/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
CREATE A PATHWAY TO FINANCIAL STABILITY AND WEALTH AMONG LOW TO MODERATE INCOME INDIVIDUALS AND SMALL BUSINESSES WITH AN EMPHASIS ON THE BLACK COMMUNITY IN CENTRAL IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOLIDARITY LOAN PROGRAM MAKES LOANS TO THOSE UNSERVED OR UNDERSERVED BY THE TRADITIONAL BANKING SYSTEM. DURING FISCAL YEAR SEPTEMBER 30, 2023, THE ORGANIZATION MADE 24 LOANS TOTALING $134,175 TO 18 DIFFERENT CLIENTS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Treasurer | OfficerTrustee | 10 | $0 |
Name Not Listed Board Vice Chair | OfficerTrustee | 8 | $0 |
Name Not Listed Board Secretary | OfficerTrustee | 4 | $0 |
Name Not Listed Board Chair | OfficerTrustee | 12 | $0 |
Name Not Listed Board Member | Trustee | 2 | $0 |
Name Not Listed Board Member End 9/23 | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $23,590 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $149,027 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $172,617 |
| Total Program Service Revenue | $5,689 |
| Investment income | $14,913 |
| 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 | $193,219 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,000 |
| 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. | $87,923 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $44,875 |
| Pension plan accruals and contributions | $752 |
| Other employee benefits | $654 |
| Payroll taxes | $18,385 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,633 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $55,926 |
| Advertising and promotion | $1,200 |
| Office expenses | $266 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $391 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,947 |
| Insurance | $2,233 |
| All other expenses | $21,331 |
| Total functional expenses | $279,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,014 |
| Savings and temporary cash investments | $164,329 |
| Pledges and grants receivable | $17,438 |
| Accounts receivable, net | $5,222 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $39,032 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,007 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $426,470 |
| Total assets | $665,512 |
| Accounts payable and accrued expenses | $54,653 |
| Grants payable | $0 |
| Deferred revenue | $260,585 |
| 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 | $118,116 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $433,354 |
| Net assets without donor restrictions | $187,165 |
| Net assets with donor restrictions | $44,993 |
| 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 | $665,512 |