Nonprofit · EIN 86-2366457
IOWA CENTER LOAN FUND
Tax-exempt · DES MOINES, IA 50312
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $369,185 | $369,185 | $0 | $2,064,442 | $2,064,442 | $0 |
| June 30, 2024 | 990 | $101,298 | $311,018 | -$209,720 | $1,085,519 | $1,085,519 | $0 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $293,965
- Program service revenue
- $69,376
- Investment income
- $5,844
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $138,928
- Salaries, compensation and benefits (total)
- $194,149
- Professional fundraising fees
- $0
- Program services (functional)
- $369,185
Balance sheet and other
- Total assets, start of year
- $1,085,519
- Total assets, end of year
- $2,064,442
- Total liabilities, end of year
- $2,064,442
- Net assets, end of year
- $0
- Gross receipts
- $369,185
- Employees
- 18
- Volunteers
- 4
- Year formed
- 2021
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MILLIGAN MEGAN | PRESIDENT Officer | 4 | $0 | $137,500 | $9,756 |
| VENALES JOSE | DIRECTOR OF CREDIT Officer | 15 | $0 | $101,728 | $9,334 |
| WISKUS DONNELL | VP OF FINANCE Officer | 15 | $0 | $102,375 | $5,505 |
| CODEL FRANKLIN | CHAIR Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| MLIVIC NERMA | VICE CHAIR Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| PHILLIPS MARK | TREASURER Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| RHONE JODI | SECRETARY Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
990 for the year ended June 30, 2024: 6 people
| Name | Title | Hours / week | Compensation | From related orgs | Other / benefits |
|---|---|---|---|---|---|
| MEGAN MILLIGAN | PRESIDENT Trustee or director, Officer | 4 | $0 | $139,768 | $9,573 |
| DONNELL WISKUS | DIRECTOR OF FINANCE Officer | 15 | $0 | $83,192 | $9,244 |
| MARK PHILLIPS | CHAIR Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| FRANKLIN CODEL | VICE-CHAIR Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| BILL WRIGHT | TREASURER Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
| JODI RHONE | SECRETARY Trustee or director, Officer | 0.25 | $0 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2210 GRAND AVE, DES MOINES, IA 50312-5306
- In care of
- % JOSE VENALES
- Principal officer (990 for 2024)
- ERIN STRAWN, 2210 GRAND AVENUE, DES MOINES, IA 50312
- Signed the 990
- ERIN STRAWN, CEO + PRESIDENT
- Phone
- (515) 283-0940
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
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.
Program accomplishments
- 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.Expenses $369,185 · revenue $69,376
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 86-2366457
- 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
- 2022
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S43)
- Assets (IRS master file)
- $2,064,442
- Income (IRS master file)
- $369,185
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $369,185 | $369,185 | $2,064,442 | XML |
| 990 | June 2024 | $101,298 | $311,018 | $1,085,519 | XML |
| 990-EZ | June 2023 | – | – | – | IRS |
| 990-EZ | June 2022 | – | – | – | IRS |
| 990-EZ | June 2021 | – | – | – | 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 86-2366457).
Questions about IOWA CENTER LOAN FUND
- What is the EIN of IOWA CENTER LOAN FUND?
- The employer identification number (EIN) of IOWA CENTER LOAN FUND is 86-2366457.
- Is IOWA CENTER LOAN FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to IOWA CENTER LOAN FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does IOWA CENTER LOAN FUND 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 CENTER LOAN FUND due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IOWA CENTER LOAN FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of IOWA CENTER LOAN FUND?
- The 990 for the year ended June 30, 2025 names ERIN STRAWN.
- Who are the officers and directors of IOWA CENTER LOAN FUND?
- The 990 for the year ended June 30, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does IOWA CENTER LOAN FUND have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $369,185, expenses of $369,185 and total assets of $2,064,442 at year end.
Other nonprofits in DES MOINES
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- GREATER DES MOINES PARTNERSHIP EIN 42-1489668 · last filed 990 for 2025
- BIOCONNECT IOWA EIN 45-3690618 · last filed 990 for 2025
- CENTER AT SIXTH EIN 88-2816453 · last filed 990 for 2024
- IOWA RURAL HEALTH TELECOMMUNICATIONS PROGRAM EIN 46-2933510 · last filed 990 for 2024
- DOWNTOWN DES MOINES SELF-SUPPORTED MUNICIPAL IMPROVEMENT DISTRICT EIN 86-1058466 · last filed 990 for 2025
- NEIGHBORHOOD INVESTMENT CORPORATION EIN 42-1522241 · last filed 990 for 2025
- IOWA CITIZENS FOR COMMUNITY IMPROVEMENT EIN 42-1110721 · last filed 990 for 2025
All nonprofits in DES MOINES · Iowa · Community improvement and capacity building