Civic Intelligence

In Need of Capital

EIN 85-0492116 • 501(c)3 • St Louis Park, MN

Pub. 78 Eligible990-N Coverage

Profile

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.

3059 Joppa AveSt Louis Park, MN 55416

www.inneedofcapital.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

35th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

93rd percentile

64%

Higher net margin than 93% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

55th percentile

$0

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Asset Growth

51st percentile

3.5%

Faster asset growth than 51% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

2nd percentile

-86%

Faster revenue growth than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$545,971

Up $18,595 (+3.5%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$545,971

Up $18,595 (+3.5%) from 2023

Revenue

Down

$28,912

Down $173,302 (-86%) from 2023

Expenses

Up

$10,317

Up $9,784 (+1836%) from 2023

Net Income

Down

$18,595

Down $183,086 (-91%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2021: $226,500Liabilities 2021: $0Net Assets 2021: $226,5002021Assets 2022: $325,695Liabilities 2022: $0Net Assets 2022: $325,6952022Assets 2023: $527,376Liabilities 2023: $0Net Assets 2023: $527,3762023Assets 2024: $545,971Liabilities 2024: $0Net Assets 2024: $545,9712024

Highlighted filing

2024

Assets$545,971
Liabilities$0
Net Assets$545,971

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300K$200K$100K$0Revenue 2021: $236,500Expenses 2021: $10,000Net Income 2021: $226,5002021Revenue 2022: $99,964Expenses 2022: $769Net Income 2022: $99,1952022Revenue 2023: $202,214Expenses 2023: $533Net Income 2023: $201,6812023Revenue 2024: $28,912Expenses 2024: $10,317Net Income 2024: $18,5952024

Highlighted filing

2024

Revenue$28,912
Expenses$10,317
Net Income$18,595

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 23, 2025
Return Version
2024v5.0
Gross Receipts
$28,912
Mission and Program Overview

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$440,000$442,000▲ $2,000
Investments Other Securities$62,500$60,338▼ $2,162
Cash and Non-Interest-Bearing Accounts$24,876$43,633▲ $18,757
Total Assets$527,376$545,971▲ $18,595
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$527,376$545,971▲ $18,595
Total Net Assets Fund Balance$527,376$545,971▲ $18,595
Total Liabilities and Net Assets / Fund Balance$527,376$545,971▲ $18,595

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$82,000--
Other Securities$60,338--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mark SalitermanChairperson/
Michael StrubMember
David KaplanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$28,912
Other Revenue
$0
Change in Net Assets
$18,595
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$10,000
Other Expenses$317
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$10,000--$10,000
Office Expenses$317--$317
Total Functional Expenses$10,317$0$0$10,317
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Rockford Fire Relief AssociationRockford, MN--$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Mark Salitermanincapital LLCDirectorLOAN: ADORE DOG LLCNo-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Michael strub mark saliterman president chairman work - visionbank david kaplan mark saliterman son-in-law & work together

Form 990, Page 6, Part VI, Line 11B

No review was or will be conducted.

Form 990, Page 6, Part VI, Line 12C

The director-officers are regularly and constantly monitored, before any new recipient is selected, there is a check to make sure that the recipient and funds received do not have any financial gain to the director or officer.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
In Need of Capital
EIN
85-0492116
Phone
9529208555
Address
3059 JOPPA AVE, ST LOUIS PARK, MN 55416

Signing Officer

Name
Mark Saliterman
Title
Chairperson/secretar
Phone
9529208555
Signed
2025-04-23

Organization Details

Principal Officer
Mark Saliterman
Formed
2020
Legal Domicile
Mn
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
Saliterman Ltd
Address
3059 JOPPA AVE, SAINT LOUIS PARK, MN 55416
Preparer
Mark Saliterman
Phone
9529208555
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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.

Form 990, Page 2, Part III, Line 4D

OFFICE EXPENSE

Raw XML Appendix288 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy2Grp/Desc0OUR SECOND SMALL BUSINESS LOAN WAS GIVEN TO IFRI, LLC. THEY HAVE CREATED A LINE OF BEVERAGES USING RAW MATERIALS FROM AFRICA.
IRS990/ProgSrvcAccomActy3Grp/Desc0OUR THIRD SMALL BUSINESS LOAN WAS GIVEN TO PROTECHT LIGHTING, INC. THEY DISTRIBUTE AND SELL A LIGHTING PRODUCT THAT PURIFIES AIR AND KILLS VIRUSES.
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IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0SMALL BUSINESS LOAN - ADORE DOG
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1SMALL BUSINESS LOAN - PROTECHT LIGHT
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc2SMALL BUSINESS LOAN - IFRI
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt06700 MAIN ST
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THIS 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OFFICE EXPENSE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MICHAEL STRUB MARK SALITERMAN PRESIDENT CHAIRMAN WORK - VISIONBANK DAVID KAPLAN MARK SALITERMAN SON-IN-LAW & WORK TOGETHER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE DIRECTOR-OFFICERS ARE REGULARLY AND CONSTANTLY MONITORED, BEFORE ANY NEW RECIPIENT IS SELECTED, THERE IS A CHECK TO MAKE SURE THAT THE RECIPIENT AND FUNDS RECEIVED DO NOT HAVE ANY FINANCIAL GAIN TO THE DIRECTOR OR OFFICER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt028912
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt028912
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0527376
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0545971
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt03059 JOPPA AVE
IRS990/USAddress/CityNm0ST LOUIS PARK
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055416
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0WWW.INNEEDOFCAPITAL.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK SALITERMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRPERSON/SECRETAR
ReturnHeader/BusinessOfficerGrp/PhoneNum09529208555
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IN NEED OF CAPITAL
ReturnHeader/Filer/BusinessNameControlTxt0INNE
ReturnHeader/Filer/EIN0850492116
ReturnHeader/Filer/PhoneNum09529208555
ReturnHeader/Filer/USAddress/AddressLine1Txt03059 JOPPA AVE
ReturnHeader/Filer/USAddress/CityNm0ST LOUIS PARK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055416
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411354880
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SALITERMAN LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03059 JOPPA AVE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAINT LOUIS PARK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055416
ReturnHeader/PreparerPersonGrp/PhoneNum09529208555
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MARK SALITERMAN
ReturnHeader/ReturnTs02025-04-23T14:06:31-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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