NonprofitsIn Need Of Capital

Community Improvement & Capacity Building

In Need Of Capital

ST LOUIS PARK, MN

Total revenue

$29K

Total expenses

$10K

Net assets

$546K

Grants received

EIN

850492116

Tax year

2024

Mission

This corporation is organized and shall be operated exclusively for charitable and educational purposes within the meaning of sections 170(c) (2) and 501 (c)(3) of the internal revenue code of 1986. Within the framework and limitations of the foregoing, the specific primary purpose of this corporation shall be to provide financial and educational support to individuals with entrepreneurial ventures. An example is providing startup funds in the form of a loan to small business. These funds are lent with out any personal recourse to the owners of the business. As the business succeeds it will use its profits to pay back the loan and once the loan is paid in full it will continue to provide profits back to the nonprofit to help support other startups.

Programs

3 programs

Our second small business loan was given to ifri, llc. They have created a line of beverages using raw materials from africa.

Our third small business loan was given to protecht lighting, inc. They distribute and sell a lighting product that purifies air and kills viruses.

Office expense

Expenses: $10KGrants: $10K

Financials

FY 2024

Revenue

Contributions & grants
Program service revenue
Investment income$29K
Other revenue
Total revenue$29K

Expenses

Grants paid$10K
Salaries & benefits
Fundraising
Other expenses$317
Total expenses$10K
Total assets$546K
Net assets$546K

People

3 listed

NameRoleCompensation

MARK SALITERMAN

CHAIRPERSON/

Board

1 hrs/wk

DAVID KAPLAN

VICE PRESIDE

Board

1 hrs/wk

MICHAEL STRUB

MEMBER

Board

Details

EIN850492116
NTEE codeS43
Subsection03
Ruling date2020-12
Formed2020
Employees0
IN NEED OF CAPITAL — Mission, Financials & Grants Received | Grantivo