Public Charity

IN NEED OF CAPITAL

IN NEED OF CAPITAL, of ST LOUIS PARK, MN, is a Public Charity tracked in Imperigo's IRS 990 database. The 2024 filing shows $29K in revenue, $10K in expenses, $546K in total assets. IRS filings disclose 2 grants awarded by this foundation, totaling roughly $20K.

EIN: 850492116 ST LOUIS PARK, MN Latest filing: 2024
Total Revenue$29K
Total Expenses$10K
Total Assets$546K
Grants Given2
Grant Total$20K
Filing Years2021–2024

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.

Officers & Directors

VICE PRESIDE David Kaplan
CHAIRPERSON/ Mark Saliterman
MEMBER Michael Strub

Officer compensation and complete director data available with membership.

Top Grant Purposes

Unspecified
$20,000 2 grants

Financial Trends

Year Revenue Expenses Assets
2024 $29K $10K $546K
2023 $202K $533 $527K
2022 $100K $769 $326K
2021 $236K $10K $226K

Between 2021 and 2024, reported annual revenue declined from $236K to $29K (-88%), with total assets most recently reported at $546K.

Interactive year-over-year charts and full filing details available with membership.

Grant Geography

Grants from this foundation were reported to recipients in MN.

MN

Full geographic grant map with state-by-state breakdown available with membership.

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