Iowa Foundation for Microenterprise and Community Vitality

Analysis

Iowa Foundation for Microenterprise and Community Vitality is a registered charity in United States, based in Boone, IA. It received its IRS tax-exemption ruling in July 2008, 18 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Iowa Foundation for Microenterprise and Community Vitality reported income of $391k and spending of $355k, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $351k to $391k (+11%), an average of +2.7% a year. The sharpest change came in the year to December 2022, when income rose by 51%. Over the whole period it spent 82% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Iowa Foundation for Microenterprise and Community Vitality sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 69th percentile within IA. Charities of a similar size with the same main cause include Bloomfield Center Alliance Inc ($391k), Centro Nueva Creacion-New Creation ($391k) and Special Needs Trust Foundation ($391k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 73% and program service revenue 0.3% of the total. Compensation of current officers, directors and key employees was $92k (26% of expenses). Other salaries and wages came to $45k. At year end it held assets of $1.6m against liabilities of $840k, net assets of $780k. It reported 6 employees.