Innovative Lending Platform Association
- Assets
- $206.9k
- Revenue
- $726.5k
- Investments
- $0.0
- Employees
- 1
- Location
- Arlington, VA
- Founding
- 09/2017
- Data as of
- 12/2022
- EIN
- 81-3600428
Organization Overview
Innovative Lending Platform Association is located in Arlington, VA. The organization was established in 2017. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovative Lending Platform Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Innovative Lending Platform Association generated $726.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $652.8k during the year ending 12/2022. While expenses have increased by 14.0% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATE AND FEDERAL GOVERNMENT AFFAIRS: PROVIDE THE MEMBERS OF THE ASSOCIATION WITH A VIEW INTO WHAT IS HAPPENING BOTH LEGISLATIVELY AND REGULATORILY WITH RESPECT TO SMALL BUSINESS FINANCING AT THE FEDERAL LEVEL AND IN THE STATES. PROVIDE COORDINATING PROGRAMS AND ACTIVITIES FOR MEMBERS TO EDUCATE REGULATORS AND LAWMAKERS ON THE IMPACT OF POTENTIAL POLICY CHANGES UPON AMERICA'S SMALL BUSINESSES.
RESEARCH, COMMUNICATIONS AND MARKETING: BUILD A SERIES OF MESSAGES AND COMMUNICATIONS ACTIVITIES FOR MEMBERS TO UTILIZE IN THEIR BUSINESSES. USE THE ASSOCIATION TO EXPOUND THE VALUE OF ONLINE SMALL BUSINESS LENDING TO THE HEALTH OF SMALL BUSINESS AND THE US ECONOMY.
NETWOKING AND INFORMATION SHARING: DEVELOP A SERIES OF TEAMS AND WORKING GROUPS TO TACKLE INDUSTRY CHALLENGES IN A COOPERATIVE FASHION. OFFER VIRTUAL AND FACE TO FACE OPPORTUNITIES FOR ENGAGEMENT, INTERACTION AND COLLABORATIVE PROBLEM SOLVING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirk Chartier President | OfficerTrustee | 5 | $0 |
William Phelan Treasurer | OfficerTrustee | 5 | $0 |
Todd Hamblet Secretary | OfficerTrustee | 5 | $0 |
David Leibowitz Director | Trustee | 5 | $0 |
Sharon Carmeli Director | Trustee | 5 | $0 |
Daniel Lageman Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alaris Strategies Llc State Gov't Affairs And Comm. | 12/30/22 | $183,733 |
Sternhell Group Fed. Gov't Affairs | 12/30/22 | $135,289 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $726,500 |
| Investment income | $0 |
| 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 | $726,500 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $287,438 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,828 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,902 |
| Fees for services: Lobbying | $319,022 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $770 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97 |
| Insurance | $0 |
| All other expenses | $1,769 |
| Total functional expenses | $652,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,909 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $115,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $206,909 |
| Accounts payable and accrued expenses | $23,238 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $23,238 |
| Net assets without donor restrictions | $183,671 |
| Net assets with donor restrictions | $0 |
| 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 | $206,909 |