Civic Intelligence

Iowa Center Loan Fund

EIN 86-2366457 • 501(c)3 • Des Moines, IA

Pub. 78 Eligible

Profile

Provide responsible, affordable lending to expand economic opportunity.

2210 Grand AvenueDes Moines, IA 50312

n/A

Siviq Scores

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

Liabilities / Assets

94th percentile

1.00x

Higher debt load relative to assets than 94% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

97th percentile

5.59x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

39th percentile

0.0%

Higher net margin than 39% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

82nd percentile

$147,256

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 39.9% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

94th percentile

90%

Faster asset growth than 94% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

96th percentile

264%

Faster revenue growth than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Up

$2,064,442

Up $978,923 (+90%) from 2024

Liabilities

Up

$2,064,442

Up $978,923 (+90%) from 2024

Net Assets

Flat

$0

Flat from 2024

Revenue

Up

$369,185

Up $267,887 (+264%) from 2024

Expenses

Up

$369,185

Up $58,167 (+19%) from 2024

Net Income

Up

$0

Up $209,720 (+100%) from 2024

Trend Graphs

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2021: $187,169Liabilities 2021: $0Net Assets 2021: $187,1692021Assets 2022: $281,104Liabilities 2022: $69,300Net Assets 2022: $211,8042022Assets 2023: $397,183Liabilities 2023: $187,463Net Assets 2023: $209,7202023Assets 2024: $1,085,519Liabilities 2024: $1,085,519Net Assets 2024: $02024Assets 2025: $2,064,442Liabilities 2025: $2,064,442Net Assets 2025: $02025

Highlighted filing

2025

Assets$2,064,442
Liabilities$2,064,442
Net Assets$0

Operations Trend

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

$400K$200K$0-$200K-$400KRevenue 2021: $122,267Expenses 2021: $44Net Income 2021: $122,2232021Revenue 2022: $50,857Expenses 2022: $26,222Net Income 2022: $24,6352022Revenue 2023: $14,449Expenses 2023: $16,533Net Income 2023: -$2,0842023Revenue 2024: $101,298Expenses 2024: $311,018Net Income 2024: -$209,7202024Revenue 2025: $369,185Expenses 2025: $369,185Net Income 2025: $02025

Highlighted filing

2025

Revenue$369,185
Expenses$369,185
Net Income$0

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 16, 2025
Return Version
2024v5.2
Gross Receipts
$369,185
Mission and Program Overview

Mission

Provide responsible, affordable lending to expand economic opportunity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$448,627$1,213,030▲ $764,403
Savings and Temporary Cash Investments$629,972$633,401▲ $3,429
Cash and Non-Interest-Bearing Accounts$6,920$218,011▲ $211,091
Total Assets$1,085,519$2,064,442▲ $978,923
Liabilities
Unsecured Notes Loans Payable$900,000$1,851,641▲ $951,641
Mortgage Notes Payable Secured by Investment Property$100,000$110,000▲ $10,000
Other Liabilities$79,119$101,611▲ $22,492
Accounts Payable and Accrued Expenses$6,400$1,190▼ $5,210
Total Liabilities$1,085,519$2,064,442▲ $978,923
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$0$0→ $0
Total Liabilities and Net Assets / Fund Balance$1,085,519$2,064,442▲ $978,923
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Milligan MeganPresident-$147,256$147,256
Venales JoseDirector of CreditPT$111,062$111,062
Wiskus DonnellVP of FinancePT$107,880$107,880

Board Members and Trustees

NameTitle
Codel FranklinChair
Mlivic NermaVice Chair
Rhone JodiSecretary
Phillips MarkTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$293,965
Program Service Revenue
$69,376
Investment Income
$5,844
Other Revenue
$0
All Other Contributions
$270,000
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$345,220
Revenue Not Reported on Financial Statements
$23,965
Revenue Not Reported on Form 990
$1,460,911
Other Revenue Adjustments
$23,965
Total Revenue per Audited Statements
$1,806,131
Total Revenue per Form 990
$369,185
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$194,149
Other Expenses$175,036
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$138,928--$138,928
Other Employee Benefits$43,729--$43,729
Interest$39,194--$39,194
Payroll Taxes$11,492--$11,492
Office Expenses$10,979--$10,979
Fees for Services Other$8,000--$8,000
Other Expenses$6,150--$6,150
Total Functional Expenses$369,185$0$0$369,185

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,744,980
Expenses Not Reported on Form 990$1,399,760
Total Expenses per Form 990$369,185
Expenses per Audited Statements$345,220
Expenses Not Reported on Financial Statements$23,965
Other Expense Adjustments$23,965
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$101,611
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 4

The purpose of the loan fund was expanded. The qualification to become a board member have become more specific.

Form 990, Part VI, Section B, Line 11B

A draft copy of the 990 tax return was provided to the board of directors prior to the return being filed.

Form 990, Part VI, Section B, Line 12C

All directors shall disclose to the board any possible conflict of interest at the warliest practicable time. No director shall vote on any matter, under consideration at a board or committee meeting, in which such director has a conflcit of interest. The minutes of such meeting shall reflect that a disclosure was made and that the director who is uncertain whether a conflict of interest may exist in any matter may request the board or committee to resolve the questions by majority vote. At the fall meeting, an annual conflict of interest form shall be signed by each voting memebr of the board of directors.

Form 990, Part VI, Section C, Line 19

The governing documents and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Iowa Center Loan Fund
EIN
86-2366457
Phone
5152830940
Address
2210 GRAND AVENUE, DES MOINES, IA 50312

Signing Officer

Name
Erin Strawn
Title
CEO + PRESIDENT
Phone
5152830940
Signed
2025-12-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erin Strawn
Formed
2021
Legal Domicile
Ia
Voting Board Members
4
Independent Board Members
4
Employees
18
Volunteers
4

Preparer

Firm
Cliftonlarsonallen Llp
Address
600 3RD AVENUE SE SUITE 300, CEDAR RAPIDS, IA 52401
Preparer
David Little
Phone
3193632697
Supplemental Narrative

Additional Explanations

Part 1, Line 5

Iowa center for economic success acts as the common payroll provider for both entities with total employee/w2 count in 2024 of 18. The salaries, other compensation, and employee benefits allocated to iowa center loan fund is reflected on their 990 filing.

Financial Statement Notes

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Iowa center for economic success revenue, net 1,460,911.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Grant from iowa center for economic success eliminated on financials 23,965.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Iowa center for economic success expenses, net 1,399,760.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Grant from iowa center for economic success eliminated on financials 23,965.

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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt023965
IRS990ScheduleD/ExpensesSubtotalAmt0345220
IRS990ScheduleD/OtherExpensesIncludedAmt01399760
IRS990ScheduleD/OtherExpensesNotIncludedAmt023965
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0101611
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTY
IRS990ScheduleD/OtherRevenueAmt01460911
IRS990ScheduleD/OtherRevenuesNotIncludedAmt023965
IRS990ScheduleD/RevenueNotReportedAmt01460911
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt023965
IRS990ScheduleD/RevenueSubtotalAmt0345220
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IOWA CENTER FOR ECONOMIC SUCCESS REVENUE, NET 1,460,911.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GRANT FROM IOWA CENTER FOR ECONOMIC SUCCESS ELIMINATED ON FINANCIALS 23,965.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2IOWA CENTER FOR ECONOMIC SUCCESS EXPENSES, NET 1,399,760.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3GRANT FROM IOWA CENTER FOR ECONOMIC SUCCESS ELIMINATED ON FINANCIALS 23,965.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART XI, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XI, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0369185
IRS990ScheduleD/TotalLiabilityAmt0101611
IRS990ScheduleD/TotalRevenuePerForm990Amt0369185
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01806131
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01744980
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IOWA CENTER FOR ECONOMIC SUCCESS ACTS AS THE COMMON PAYROLL PROVIDER FOR BOTH ENTITIES WITH TOTAL EMPLOYEE/W2 COUNT IN 2024 OF 18. THE SALARIES, OTHER COMPENSATION, AND EMPLOYEE BENEFITS ALLOCATED TO IOWA CENTER LOAN FUND IS REFLECTED ON THEIR 990 FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PURPOSE OF THE LOAN FUND WAS EXPANDED. THE QUALIFICATION TO BECOME A BOARD MEMBER HAVE BECOME MORE SPECIFIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A DRAFT COPY OF THE 990 TAX RETURN WAS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO THE RETURN BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DIRECTORS SHALL DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE WARLIEST PRACTICABLE TIME. NO DIRECTOR SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH DIRECTOR HAS A CONFLCIT OF INTEREST. THE MINUTES OF SUCH MEETING SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE DIRECTOR WHO IS UNCERTAIN WHETHER A CONFLICT OF INTEREST MAY EXIST IN ANY MATTER MAY REQUEST THE BOARD OR COMMITTEE TO RESOLVE THE QUESTIONS BY MAJORITY VOTE. AT THE FALL MEETING, AN ANNUAL CONFLICT OF INTEREST FORM SHALL BE SIGNED BY EACH VOTING MEMEBR OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0PART 1, LINE 5
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0IOWA CENTER FOR ECONOMIC SUCCESS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0201037604
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt02210 GRAND AVENUE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0DES MOINES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd050312
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0101611
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt123965
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0LOAN BALANCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1REDUCTION OF LOAN BALANCE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0IOWA CENTER FOR ECONOMIC SUCCESS
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1IOWA CENTER FOR ECONOMIC SUCCESS
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0E
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1C
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01085519
IRS990/TotalAssetsEOYAmt02064442
IRS990/TotalAssetsGrp/BOYAmt01085519
IRS990/TotalAssetsGrp/EOYAmt02064442
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0293965
IRS990/TotalEmployeeCnt018
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0369185
IRS990/TotalFunctionalExpensesGrp/TotalAmt0369185
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01085519
IRS990/TotalLiabilitiesEOYAmt02064442
IRS990/TotalLiabilitiesGrp/BOYAmt01085519
IRS990/TotalLiabilitiesGrp/EOYAmt02064442
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt00
IRS990/TotalOtherCompensationAmt024595
IRS990/TotalProgramServiceExpensesAmt0369185
IRS990/TotalProgramServiceRevenueAmt069376
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt05844
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt069376
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0369185
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01085519
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02064442
IRS990/TotReportableCompRltdOrgAmt0341603
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0900000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt01851641
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02210 GRAND AVENUE
IRS990/USAddress/CityNm0DES MOINES
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050312
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0THEIOWACENTER.ORG/IOWA-CENTER-LOAN-FUND-CDF
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ERIN STRAWN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO + PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05152830940

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