2025-12-16T12:40:32-06:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 600 3RD AVENUE SE SUITE 300 CEDAR RAPIDS IA 52401 990 2024-07-01 862366457 IOWA CENTER LOAN FUND IOWA 5152830940 2210 GRAND AVENUE DES MOINES IA 50312 ERIN STRAWN CEO + PRESIDENT 5152830940 2025-12-16 1 0 DAVID LITTLE P01480921 3193632697 2025-12-16 2024 2025-03-06 01:10:19Z ERIN STRAWN 2210 GRAND AVENUE DES MOINES IA 50312 369185 0 X THEIOWACENTER.ORG/IOWA-CENTER-LOAN-FUND-CDF X 2021 IA PROVIDE RESPONSIBLE, AFFORDABLE LENDING TO EXPAND ECONOMIC OPPORTUNITY. 4 4 18 4 0 0 62404 293965 21311 69376 17583 5844 0 0 101298 369185 0 0 0 0 206445 194149 0 0 0 104573 175036 311018 369185 -209720 0 1085519 2064442 1085519 2064442 0 0 X THE MISSION OF THE IOWA CENTER LOAN FUND CDFI IS TO REDUCE PROVERTY AND INEQUALITY AND FURTHER COMMUNITY DEVELOPMENT BY PROVIDING ACCESS TO CAPITAL TO IOWANS STARTING OR EXPANDING A BUSINESS WHO DO NOT HAVE ACCESS TO TRADITIONAL FORMS OF FINANCIAL ASSISTANCE. THE LOAN FUND SERVES LOW-INCOME BUSINESS OWNERS, BUSINESS OWNERS WHO LIVE IN ECONOMICALLY DISTRESSED AREAS AND OTHERWISE DIVERSE OR HISTORICALLY-DISADVANTAGED BUSINESS OWNERS. THE LOAN FUND WILL PROVIDE RESPONSIBLE, AFFORDABLE LENDING TO EXPAND ECONOMIC OPPORTUNITY. IN ADDITION TO FINANCING, THE IOWA CENTER LOAN FUND PROVIDES APPLICANTS WITH TECHNICAL ASSISTANCE, CONNECTS CLIENTS WITH NECESSARY BUSINESS SERVICES AND OFFERS CREDIT COUNSELING TO IMPROVE CREDIT HISTORY. 0 0 369185 0 69376 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. 369185 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 18 1 0 0 0 0 0 0 0 0 0 0 0 0 X 4 4 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 X THE ORGANIZATION 5152830940 2210 GRAND AVENUE DES MOINES IA 50312 CODEL FRANKLIN CHAIR 0.25 3.00 X X 0 0 0 MLIVIC NERMA VICE CHAIR 0.25 3.00 X X 0 0 0 PHILLIPS MARK TREASURER 0.25 3.00 X X 0 0 0 RHONE JODI SECRETARY 0.25 3.00 X X 0 0 0 MILLIGAN MEGAN PRESIDENT 4.00 36.00 X 0 137500 9756 WISKUS DONNELL VP OF FINANCE 15.00 25.00 X 0 102375 5505 VENALES JOSE DIRECTOR OF CREDIT 15.00 25.00 X 0 101728 9334 0 341603 24595 0 0 0 0 0 23965 270000 23965 293965 LOAN INCOME 525990 69376 69376 69376 5844 5844 369185 69376 0 5844 138928 138928 43729 43729 11492 11492 8000 8000 10979 10979 39194 39194 CREDIT LOSS EXPENSE 110713 110713 LOAN ORIGINATION FEE 6150 6150 369185 369185 0 0 6920 218011 629972 633401 448627 1213030 1085519 2064442 6400 1190 100000 110000 900000 1851641 79119 101611 1085519 2064442 X 0 0 0 0 1085519 2064442 0 0 X 0 1 X 1 1 1 X 118064 45000 500 62404 293965 519933 118064 45000 500 62404 293965 519933 337901 182032 17583 5844 23427 543360 114696 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE TO RELATED PARTY 101611 101611 1806131 1460911 1460911 345220 23965 23965 369185 1744980 1399760 1399760 345220 23965 23965 369185 PART XI, LINE 2D - OTHER ADJUSTMENTS: IOWA CENTER FOR ECONOMIC SUCCESS REVENUE, NET 1,460,911. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANT FROM IOWA CENTER FOR ECONOMIC SUCCESS ELIMINATED ON FINANCIALS 23,965. PART XII, LINE 2D - OTHER ADJUSTMENTS: IOWA CENTER FOR ECONOMIC SUCCESS EXPENSES, NET 1,399,760. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT FROM IOWA CENTER FOR ECONOMIC SUCCESS ELIMINATED ON FINANCIALS 23,965. PART 1, LINE 5 IOWA CENTER FOR ECONOMIC SUCCESS ACTS AS THE COMMON PAYROLL PROVIDER FOR BOTH ENTITIES WITH TOTAL EMPLOYEE/W2 COUNT IN 2024 OF 18. THE SALARIES, OTHER COMPENSATION, AND EMPLOYEE BENEFITS ALLOCATED TO IOWA CENTER LOAN FUND IS REFLECTED ON THEIR 990 FILING. FORM 990, PART VI, SECTION A, LINE 4 THE PURPOSE OF THE LOAN FUND WAS EXPANDED. THE QUALIFICATION TO BECOME A BOARD MEMBER HAVE BECOME MORE SPECIFIC. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT COPY OF THE 990 TAX RETURN WAS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO THE RETURN BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C ALL DIRECTORS SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE WARLIEST PRACTICABLE TIME. NO DIRECTOR SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH DIRECTOR HAS A CONFLCIT OF INTEREST. THE MINUTES OF SUCH MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE DIRECTOR WHO IS UNCERTAIN WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO RESOLVE THE QUESTIONS BY MAJORITY VOTE. AT THE FALL MEETING, AN ANNUAL CONFLICT OF INTEREST FORM SHALL BE SIGNED BY EACH VOTING MEMEBR OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. IOWA CENTER FOR ECONOMIC SUCCESS 2210 GRAND AVENUE DES MOINES IA 50312 201037604 ECONOMIC DEVELOPMENT IA 501(C)(3) LINE 7 0 0 0 1 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 IOWA CENTER FOR ECONOMIC SUCCESS E 101611 LOAN BALANCE IOWA CENTER FOR ECONOMIC SUCCESS C 23965 REDUCTION OF LOAN BALANCE