Nonprofit · EIN 34-2015566
IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION
Tax-exempt · WASHINGTON, DC 20036
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2024 | 990 | $0 | $659,751 | -$659,751 | $61,349 | $3,497,911 | -$3,436,562 |
| September 30, 2023 | 990 | $0 | $774,191 | -$774,191 | $1,144,690 | $3,921,501 | -$2,776,811 |
Financial details: 990 for the year ended September 30, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $385,134
- Other salaries and wages
- $25,741
- Salaries, compensation and benefits (total)
- $410,875
- Professional fundraising fees
- $0
- Legal fees
- $63,548
- Accounting fees
- $1,389
- Occupancy
- $5,939
- Travel
- $2,612
- Program services (functional)
- $659,751
Balance sheet and other
- Total assets, start of year
- $1,144,690
- Total assets, end of year
- $61,349
- Total liabilities, end of year
- $3,497,911
- Net assets, end of year
- -$3,436,562
- Net assets without donor restrictions
- -$3,436,562
- Gross receipts
- $0
- Employees
- 0
- Volunteers
- 3
- Year formed
- 2004
- State of legal domicile
- TX
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 September 30, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JORGE R VILA | GENERAL MANAGER, (UNTIL 08/2024) Officer | 40 | $189,084 |
| MAZEN ABOU-SHABAN | CFO/GENERAL MANAGER, (FROM 08/2024) Officer | 40 | $123,671 |
| CHRIS SALE | CHAIRMAN Trustee or director, Officer | 3 | $0 |
| DENNIS FLANNERY | DIRECTOR Trustee or director | 3 | $0 |
| ABHISHEK BHASIN | DIRECTOR, (UNTIL 07/2024) Trustee or director | 3 | $0 |
990 for the year ended September 30, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JORGE R VILA | GENERAL MANAGER Officer | 40 | $272,353 |
| CHRIS SALE | CHAIRMAN Trustee or director, Officer | 3 | $0 |
| ABHISHEK BHASIN | DIRECTOR Trustee or director | 3 | $0 |
| DENNIS FLANNERY | DIRECTOR Trustee or director | 3 | $0 |
Address and contacts
- Address (IRS master file)
- DORN KLAMP 2000 P STREET NW 70, WASHINGTON, DC 20036-0000
- In care of
- % DORN & KLAMP PC
- Principal officer (990 for 2023)
- MAZEN ABOU-SHABAN, DORN KLAMP 2000 P STREET NW 708, WASHINGTON, DC 20036
- Signed the 990
- MAZEN ABOU-SHABAN, GENERAL MANAGER
- Phone
- (202) 986-3300
- Website
- WWW.IMMDF.ORG
- Return prepared by
- GELMAN ROSENBERG & FREEDMAN
Mission
IMMDF MAKES DEVELOPMENT LOANS AT BELOW MARKET INTEREST RATES WITH NON-COMMERCIAL TERMS TO SMALL AND MEDIUM SIZED BUSINESSES IN AREAS OF IRAQ WITH LOW INCOME AND HIGH UNEMPLOYMENT TO CREATE JOBS, LESSEN POVERTY, AND FOSTER ECONOMIC GROWTH.
Program accomplishments
- CAPITAL ASSISTANCE: IMMDF MADE DEVELOPMENT LOANS AT BELOW MARKET INTEREST RATES WITH NON-COMMERCIAL TERMS TO SMALL AND MEDIUM SIZED BUSINESSES IN AREAS OF IRAQ.IMMDF MADE LOANS TO IRAQ SMALL AND MEDIUM SIZE COMPANIES THAT DO NOT HAVE ACCESS TO THE CREDIT UNDER AFFORDABLE INTEREST RATES FOR PROJECTS THAT GENERATE EMPLOYMENT AND ECONOMIC GROWTH.Expenses $659,751
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | Not on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 34-2015566
- 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
- 2007
- Accounting year ends
- September
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- International, foreign affairs and national security (Q32)
- Assets (IRS master file)
- $61,349
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2024 | $0 | $659,751 | $61,349 | XML |
| 990 | September 2023 | $0 | $774,191 | $1,144,690 | XML |
| 990 | September 2022 | $14,450 | $820,998 | $1,641,568 | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
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 34-2015566).
Questions about IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION
- What is the EIN of IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION?
- The employer identification number (EIN) of IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION is 34-2015566.
- Is IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2007.
- Are donations to IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2024.
- Who is the principal officer of IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION?
- The 990 for the year ended September 30, 2024 names MAZEN ABOU-SHABAN.
- Who are the officers and directors of IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION?
- The 990 for the year ended September 30, 2024 lists 5 people; 2 received compensation from the organization, the highest $189,084 (JORGE R VILA, GENERAL MANAGER, (UNTIL 08/2024)).
- How much revenue does IRAQ MIDDLE MARKET DEVELOPMENT FOUNDATION have?
- On its 990 for the year ended September 30, 2024 it reported revenue of $0, expenses of $659,751 and total assets of $61,349 at year end.
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