Iowa Center Loan Fund
- Assets
- $397.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Des Moines, IA
- Founding
- Data as of
- 06/2023
- EIN
- 86-2366457
Organization Overview
Iowa Center Loan Fund is located in Des Moines, IA. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Center Loan Fund 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 06/2023, Iowa Center Loan Fund generated $14.4k 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 (50.9%) each year. All expenses for the organization totaled $16.5k during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE ORGANIZATION PROVIDES NEW OR GROWING SMALL BUSINESSES WITH ACCESS TO CAPITAL. THE PROGRAM PROVIDES FIXED INTEREST RATE LOANS WITH UP TO 5-YEAR TERMS AND NO DOWN PAYMENTS REQUIRED. AS OF JUNE 30, 2023, 17 BUSINESSES HAD LOANS THROUGH THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Milligan President | 4 | $0 | |
Alex Polzin Director Of Finance Thru 4/2023 | 15 | $0 | |
Donnell Wiskus Director Of Finance | 15 | $0 | |
Mark Phillips Chair | 0.25 | $0 | |
Franklin Codel Vice-Chair | 0.25 | $0 | |
Bill Wright Treasurer | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $500 |
| Total Program Service Revenue | $13,949 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $14,449 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $16,533 |
| Total expenses | $16,533 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $45,218 |
| Other assets | $0 |
| Total assets | $397,183 |
| Total liabilities | $187,463 |
| Net assets or fund balances | $209,720 |