Nonprofit · EIN 26-2238918
IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY
Tax-exempt · BOONE, IA 50036
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $89,103 | $236,136 | -$147,033 | $1,617,565 | $983,633 | $633,932 |
| December 31, 2023 | 990 | $390,995 | $354,799 | $36,196 | $1,620,299 | $839,989 | $780,310 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $28,815
- of which government grants
- $28,815
- Program service revenue
- $12,292
- Investment income
- $47,996
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $14,538
- Occupancy
- $4,380
- Travel
- $4,075
- Program services (functional)
- $201,741
- Management and general (functional)
- $34,395
Balance sheet and other
- Total assets, start of year
- $1,620,299
- Total assets, end of year
- $1,617,565
- Total liabilities, end of year
- $983,633
- Net assets, end of year
- $633,932
- Publicly traded securities
- $23,726
- Net assets without donor restrictions
- $610,206
- Net assets with donor restrictions
- $23,726
- Gross receipts
- $89,103
- Employees
- 0
- Year formed
- 2008
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CLARENCE MCGREGOR | BOARD CHAIR Trustee or director, Officer | 4 | $0 |
| JEFF WALLER | VICE CHAIR Trustee or director, Officer | 4 | $0 |
| JAKE ANDERSON | SECRETARY Trustee or director, Officer | 4 | $0 |
| CHANIN LARSON | DIRECTOR Trustee or director | 2 | $0 |
| DAVE HAGEN | DIRECTOR Trustee or director | 2 | $0 |
| ELLEN NYSTROM | DIRECTOR Trustee or director | 2 | $0 |
| JAMES PATTON | DIRECTOR Trustee or director | 2 | $0 |
| KEN BEEKLEY | DIRECTOR Trustee or director | 2 | $0 |
| MARIO VAN DIJK | DIRECTOR Trustee or director | 2 | $0 |
| MARK EDELMAN | DIRECTOR Trustee or director | 2 | $0 |
| STEVE ADAMS | DIRECTOR Trustee or director | 2 | $0 |
| TERRY VORBRICH | DIRECTOR Trustee or director | 2 | $0 |
| JEFFREY WILLIAMS | PRESIDENT Officer | 40 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CRAIG DOWNS | President Officer | 50 | $92,074 |
| KEN BEEKLEY | Director Trustee or director | 2 | $0 |
| CLARENCE MCGREGOR | Chairman Trustee or director, Officer | 4 | $0 |
| ELLEN NYSTROM | Director Trustee or director | 2 | $0 |
| DAVE OGBURN | Director Trustee or director | 2 | $0 |
| JAKE ANDERSON | Secretary Trustee or director, Officer | 4 | $0 |
| DAVID HAGEN | Director Trustee or director | 2 | $0 |
| VIRGINIA STADLER | Treasurer Trustee or director, Officer | 4 | $0 |
| JAMES PATTON | Director Trustee or director | 2 | $0 |
| JEFF WALLER | VICE CHAIR Trustee or director, Officer | 4 | $0 |
| STEVE ADAMS | Director Trustee or director | 2 | $0 |
| MARIO VAN DIJK | Director Trustee or director | 2 | $0 |
| TERRY VORBICH | Director Trustee or director | 2 | $0 |
| RANDY SCHMITZ | Director Trustee or director | 2 | $0 |
| MARK EDELMAN | Director Trustee or director | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 915 8TH STREET STE 205, BOONE, IA 50036-2921
- In care of
- % MARK A EDELMAN
- Mailing address (990-N for 2007)
- PO Box 793, Boone IA 50036
- Principal officer (990 for 2024)
- JEFFREY WILLIAMS, PO BOX 793, BOONE, IA 50036
- Principal officer (990-N for 2007)
- Craig Downs, PO Box 793, Boone IA 50036
- Signed the 990
- JEFFREY WILLIAMS, PRESIDENT
- Phone
- (515) 212-0182
- Website
- WWW.IOWAMICROLOAN.ORG
- Return prepared by
- COMMUNITY CPA & ASSOCIATES INC
Mission
TO PROVIDE FUNDING FOR MICROBUSINESSES THAT ARE CONSIDERED ON THE FRINGE OF RISK-BEARING CAPACITY FOR MOST TRADITIONAL FINANCIAL INSTITUTIONS.
Program accomplishments
- TO PROVIDE FUNDING FOR MICROBUSINESSES THAT ARE CONSIDERED ON THE FRINGE OF RISK-BEARING CAPACITY FOR MOST TRADITIONAL FINANCIAL INSTITUTIONS.Expenses $201,741 · revenue $12,292
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 26-2238918
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2008
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $1,617,565
- Income (IRS master file)
- $89,103
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $89,103 | $236,136 | $1,617,565 | XML |
| 990 | December 2023 | $390,995 | $354,799 | $1,620,299 | XML |
| 990 | December 2022 | $551,415 | $339,895 | $1,445,760 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2007 Officer: Craig Downs | December 31, 2007 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 26-2238918).
Questions about IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY
- What is the EIN of IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY?
- The employer identification number (EIN) of IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY is 26-2238918.
- Is IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2008.
- Are donations to IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY?
- The 990 for the year ended December 31, 2024 names JEFFREY WILLIAMS.
- Who are the officers and directors of IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY?
- The 990 for the year ended December 31, 2024 lists 13 people; 0 received compensation from the organization.
- How much revenue does IOWA FOUNDATION FOR MICROENTERPRISE AND COMMUNITY VITALITY have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $89,103, expenses of $236,136 and total assets of $1,617,565 at year end.
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All nonprofits in BOONE · Iowa · Community improvement and capacity building