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.
Reported officers (all unpaid)
No paid executives reported in 2024. IN NEED OF CAPITAL reported 3 unpaid officers and board members on its 990.
Revenue and expenses over time
IN NEED OF CAPITAL reported revenue and expenses across 2 filing years.
What Community Improvement & Capacity Building executives earn in Minnesota
IN NEED OF CAPITAL reported no executive compensation in its latest filing. For context, the highest-paid executive at a comparable community improvement & capacity building organization in Minnesota earns a median of $73,827.
These are community improvement & capacity building sector-wide figures, not this organization's reported pay. Based on 277 organizations across 277 filings (2020 – 2024).
See full Community Improvement & Capacity Building pay data for Minnesota →Common questions about IN NEED OF CAPITAL
What are IN NEED OF CAPITAL's revenue and expenses?
In 2024, IN NEED OF CAPITAL reported $29k in total revenue and $10k in total expenses on its IRS Form 990.
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