Nonprofit · EIN 85-0492116
IN NEED OF CAPITAL
Tax-exempt · ST LOUIS PARK, MN 55416
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $25,116 | $99,787 | -$74,671 | $471,300 | $0 | $471,300 |
| December 31, 2024 | 990 | $28,912 | $10,317 | $18,595 | $545,971 | $0 | $545,971 |
| December 31, 2023 | 990 | $202,214 | $533 | $201,681 | $527,376 | $0 | $527,376 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $3,387
- Program service revenue
- $0
- Investment income
- $21,729
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $2,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $99,787
Balance sheet and other
- Total assets, start of year
- $545,971
- Total assets, end of year
- $471,300
- Total liabilities, end of year
- $0
- Net assets, end of year
- $471,300
- Net assets without donor restrictions
- $471,300
- Gross receipts
- $25,116
- Employees
- 0
- Year formed
- 2020
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK SALITERMAN | CHAIRPERSON/ Trustee or director | 1 | $0 |
| DAVID KAPLAN | VICE PRESIDE Officer | – | $0 |
| MICHAEL STRUB | MEMBER Officer | – | $0 |
990 for the year ended December 31, 2024: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK SALITERMAN | CHAIRPERSON/ Trustee or director | 1 | $0 |
| DAVID KAPLAN | VICE PRESIDE Officer | 1 | $0 |
| MICHAEL STRUB | MEMBER Officer | – | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MARK SALITERMAN | CHAIRPERSON/ Trustee or director | 1 | $0 |
| DAVID KAPLAN | VICE PRESIDE Officer | 1 | $0 |
| MICHAEL STRUB | MEMBER Officer | – | $0 |
Address and contacts
- Address (IRS master file)
- 3059 JOPPA AVE S, ST LOUIS PARK, MN 55416-4458
- Mailing address (990-N for 2020)
- 3059 Joppa Ave, st louis park MN 55416
- Principal officer (990 for 2025)
- MARK SALITERMAN, 3059 JOPPA AVE, ST LOUIS PARK, MN 55416
- Principal officer (990-N for 2020)
- mark saliterman, 3059 Joppa Ave, st louis park MN 55416
- Signed the 990
- MARK SALITERMAN, CHAIRPERSON/SECRETAR
- Phone
- (952) 920-8555
- Website
- WWW.INNEEDOFCAPITAL.COM
- Return prepared by
- SALITERMAN LTD
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.
Program accomplishments
- OUR FIRST SMALL BUSINESS LOAN WAS FOR A DOG GROOMING BUSINESS, ADORE DOG SALON, LLC. THEY OPENED THEIR DOORS IN 2022 AND EXPANDED THE BUSINESS IN 2023. THEY ARE PROFITABLE AND BUSINESS HAS BEEN GROWING EVERY YEAR.
- OUR SECOND SMALL BUSINESS LOAN WAS GIVEN TO IFRI, LLC. THEY HAVE CREATED A LINE OF BEVERAGES USING RAW MATERIALS FROM AFRICA.
- HELPING SEVERAL SMALL MINORITY BUSINESS TO GROW, EXAMPLES OF BUSINESSES LAW FIRM, HEALTH AND WELL BEING.
- Expenses $99,787 · grants $2,000
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-0492116
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Community improvement and capacity building (S43)
- Assets (IRS master file)
- $471,300
- Income (IRS master file)
- $25,116
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $25,116 | $99,787 | $471,300 | IRS |
| 990 | December 2024 | $28,912 | $10,317 | $545,971 | XML |
| 990 | December 2023 | $202,214 | $533 | $527,376 | XML |
| 990 | December 2022 | $99,964 | $769 | $325,695 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-N for 2020 Officer: mark saliterman | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0492116).
Questions about IN NEED OF CAPITAL
- What is the EIN of IN NEED OF CAPITAL?
- The employer identification number (EIN) of IN NEED OF CAPITAL is 85-0492116.
- Is IN NEED OF CAPITAL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to IN NEED OF CAPITAL tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does IN NEED OF CAPITAL file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of IN NEED OF CAPITAL due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IN NEED OF CAPITAL last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of IN NEED OF CAPITAL?
- The 990 for the year ended December 31, 2025 names MARK SALITERMAN.
- Who are the officers and directors of IN NEED OF CAPITAL?
- The 990 for the year ended December 31, 2025 lists 3 people; 0 received compensation from the organization.
- How much revenue does IN NEED OF CAPITAL have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $25,116, expenses of $99,787 and total assets of $471,300 at year end.
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All nonprofits in ST LOUIS PARK · Minnesota · Community improvement and capacity building