Chi Ishobak Inc
- Assets
- $9.2m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 4
- Location
- Dowagiac, MI
- Founding
- 03/2012
- Data as of
- 12/2021
- EIN
- 35-2372805
Organization Overview
Chi Ishobak Inc is located in Dowagiac, MI. The organization was established in 2012. According to its NTEE Classification (S32) the organization is classified as: Rural Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Chi Ishobak Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chi Ishobak Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Chi Ishobak Inc generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 23.0% each year . All expenses for the organization totaled $570.1k during the year ending 12/2021. While expenses have increased by 12.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE MISSION OF CHI ISHOBAK TO PROVIDE TRIBAL CITIZENS WITH ACCESS TO AFFORDABLE CAPITAL FOR THE PURPOSE OF BUSINESS LOANS AND INDIVIDUAL FINANCIAL DEVELOPMENT THROUGH COLLABORATIVE AND EDUCATION-ORIENTED LENDING SERVICES. AND ALSO TO PRACTICE RESPONSIBLE LENDING IN ORDER TO PROTECT LOAN CAPITAL FOR FUTURE GENERATIONS OF TRIBAL CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE TRIBAL CITIZENS WITH ACCESS TO AFFORDABLE CAPITAL FOR THE PURPOSE OF BUSINESS LOANS,AND INDIVIDUAL FINANCIAL DEVELOPMENT THROUGH COLLABORATIVE AND EDUCATION-ORIENTED LENDING SERVICES. AND TO PRACTICE RESPONSIBLE LENDING IN ORDER TO PROTECT LOAN CAPITAL FOR FUTURE GENERATIONS OF THE TRIBE. THE GOAL IS TO INCREASE THE FINANCIAL CAPACITY FOR TRIBAL CITIZENS AND CREATE ECONOMIC OPPORTUNITIES. OVER 1,000 TRIBAL CITIZENS HAVE BENEIFITED FROM COMMERCIAL LOANS, CONSUMER LOANS, BUSINESS DEVELOPOMENT ASSISTANCE, AND INDIVIDUAL FINANCIAL COACHING. MORE THAN $8.4 MILLION HAVE BEEN DISBURSED FOR SMALL BUSINESS EXPANSION, SMALL BUSINESS START-UP, AND CONSUMER USES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Winters Executive Director | Officer | 40 | $147,380 |
Bruce Molnar Chair | OfficerTrustee | 2 | $1,500 |
Joseph Silvia Secretary / Treasurer | OfficerTrustee | 2 | $1,250 |
Joseph Riley Director | Trustee | 2 | $1,250 |
Brandon Rapp Vice Chair | OfficerTrustee | 2 | $1,000 |
Jeremy Truitt Director | Trustee | 2 | $1,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,962,399 |
| All other contributions, gifts, grants, and similar amounts not included above | $137,596 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,099,995 |
| Total Program Service Revenue | $415,871 |
| Investment income | $29,445 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,545,311 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $17,825 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $186,740 |
| Compensation of current officers, directors, key employees. | $73,437 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $112,184 |
| Pension plan accruals and contributions | $2,821 |
| Other employee benefits | $28,036 |
| Payroll taxes | $20,093 |
| Fees for services: Management | $12,485 |
| Fees for services: Legal | $7,324 |
| Fees for services: Accounting | $18,690 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,873 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,950 |
| Office expenses | $9,690 |
| Information technology | $15,852 |
| Royalties | $0 |
| Occupancy | $11,682 |
| Travel | $6,438 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,565 |
| Interest | $33,763 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,376 |
| Insurance | $4,515 |
| All other expenses | $0 |
| Total functional expenses | $570,063 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $618,177 |
| Savings and temporary cash investments | $3,066,035 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,925,812 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,127 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,615,044 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,230,195 |
| Accounts payable and accrued expenses | $12,800 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $423,077 |
| Unsecured mortgages and notes payable | $1,467,828 |
| Other liabilities | $564,686 |
| Total liabilities | $2,468,391 |
| Net assets without donor restrictions | $6,719,025 |
| Net assets with donor restrictions | $42,779 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,230,195 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Chi Ishobak Inc has recieved totaling $232,500.
| Awarding Organization | Amount |
|---|---|
First Nations Oweesta Corporation Longmont, CO PURPOSE: UBS Sub Grant | $132,500 |
Opportunity Finance Network Philadelphia, PA PURPOSE: COVID-19 GRANT | $50,000 |
Ndn Collective Inc Rapid City, SD PURPOSE: COVID-19 RESPONSE | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hoosier Uplands Economic Development Corporation Mitchell, IN | $50,608,889 | $20,253,454 |
Western Dairyland Economic Opportunity Council Incorporated Independence, WI | $9,371,395 | $17,670,947 |
Adams And Brown Counties Economic Opportunities Inc Georgetown, OH | $10,344,175 | $16,374,406 |
Rural Action Inc The Plains, OH | $1,800,530 | $4,307,921 |
Stark Economic Development Board Inc Canton, OH | $4,016,090 | $2,811,607 |
Appalachian Center For Economic Networks Inc Athens, OH | $3,317,109 | $1,167,468 |
Lawrenceburg Main Street Inc Lawrenceburg, IN | $459,945 | $977,543 |
Techgrowth Ohio Fund Athens, OH | $4,232,891 | $2,240,718 |
Door County Economic Development Corporation Sturgeon Bay, WI | $2,581,699 | $998,049 |
Meigs County Community Improvement Corporation Pomeroy, OH | $9,768,441 | $1,309,998 |
Chi Ishobak Inc Dowagiac, MI | $9,230,195 | $2,545,311 |
Help Malawi Cleveland, OH | $35,635 | $437,407 |