Chi Ishobak INC EIN 35-2372805

Chi Ishobak INC

EIN  35-2372805 Public charity (501(c)(3)) Dowagiac, MI
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/28/26 · see original filing: IRS
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Size
$1–10M
What they do
Offers affordable loans and financial education for tribal citizens' homes and businesses.
Leadership
Sean Winters · Executive Di · $164K
Money in and out
$3.4M revenue, $814K expenses
Bottom line
87% program efficiency

Offers affordable loans and financial education for tribal citizens' homes and businesses. For fiscal year 2024 it reported $3.4M in revenue, $814K in expenses, and $13.9M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$3.4M
Pt VIII · Ln 12
Total expenses
$814K
Pt IX · Ln 25
Net assets
$13.9M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $2.5M
Where spending went · Part IX cols B–D
Program services $0.87 Management & general $0.12 Fundraising $0.01
Program efficiency
87%
of spending reaches programs▲ +2% vs prior filing year
Operating runway
88.1mo
months of highly liquid reserves at operating expense rate▼ -35% vs prior filing year
Surplus margin
+76%
revenue over expenses, this year▼ -9% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$3.4M
FY2024▼ -18%
Expenses
$814K
FY2024▲ +21%
Total assets
$15.3M
FY2024▲ +18%
Total liabilities
$1.4M
FY2024▼ -16%
Total revenue
$3.4M
Pt VIII · Ln 12
Total expenses
$814K
Pt IX · Ln 25
Net assets
$13.9M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$2.5M
Total assetsPt X · Ln 16$15.3M
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

1 program service account for $709K of program spending, described in the organization's own filed words · FY2024.
01

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.

$709Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CChi Ishobak INC
EINHdr · item D35-2372805
Principal addressHdr · item CDowagiac, MI
WebsiteHdr · item Jwww.chiishobak.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFCommunity Development (S32)
Ruling yearIRS BMFMar 2012

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Di
$164,003Pt VII · Sec A
Secretary/Tr
$1,750Pt VII · Sec A
$1,750Pt VII · Sec A
Director
$1,750Pt VII · Sec A
$1,750Pt VII · Sec A
Director
$1,500Pt VII · Sec A
$1,250Pt VII · Sec A
Director
$1,000Pt VII · Sec A

Sean Winters’s $164K as Executive Di is at the 53rd percentile of top reported officer pay among 2834 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sean Winters$164,003$147,565$147,565$147,380$121,675
Bruce Molnar$1,750$1,250$1,250$1,500$1,500
Joseph Silvia$1,750$1,500$1,500$1,250$1,500
Linda Cook$1,750$1,250$1,250$750$750
Jeremy Truitt$1,750$1,250$1,000$1,000$1,500
Brandon Rapp$1,500$1,500$1,250$1,000$1,000
Alicia Falcon$750$1,000$1,000$1,000$1,250
Joseph Riley II$1,250$1,250

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Contributions & grants$2.7M · 80%
Program service revenue$602K · 18%
Investment income$76K · 2%
Contributions & grants80%$2.7M
Program service revenue18%$602K
Investment income2%$76K
— government grantsLn 1e$1.6M
Total revenueLn 12$3.4M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.12 Fundraising $0.01
Program services87%$709K
Management & general12%$95K
Fundraising1%$10K
Total functional expensesLn 25$814K

Balance Sheet

Part X · end of year
CashLn 1$4.4M
Total assetsLn 16$15.3M
Total liabilitiesLn 26$1.4M
Total net assetsLn 32$13.9M
Months of cash on handcomputed64.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $6.0M · Operating expenses/yr $814K
88.1 months
Where the money goes
Program services
Program services $709K · Total expenses $814K
87%
Management & General
Management & general $95K · Total expenses $814K
12%
Fundraising
Fundraising $10K · Total expenses $814K
1%
Cost to raise $1
Fundraising expense (3-yr avg) $10K · Solicited contributions (3-yr avg) $356K
$0.03 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $2.7M · Total revenue $3.4M
80%
Government reliance
Government grants $1.6M · Total revenue $3.4M
48%
Earned-income share
Program service revenue $602K · Total revenue $3.4M
18%
Investment reliance
Investment income $76K · Total revenue $3.4M
+2%
Program self-sufficiency
Program service revenue $602K · Total expenses $814K
74%
Growth & trend
Revenue growth (YoY)
This year $3.4M · Prior year $4.1M
-18%
Revenue CAGR
FY2020 $2.3M · FY2024 $3.4M
+9%
Net-asset trend (YoY)
End of year $13.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $3.4M · Expenses $814K
+76%
Liabilities-to-Assets
Total liabilities — · Total assets $15.3M
Net-asset ratio
Net assets $13.9M · Total assets $15.3M
91%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.6M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $15.3M
10%
People & payroll
Highest Reported Total Compensation
Individual Sean Winters · Reported title EXECUTIVE DI · Highest reported compensation $164K · Total expenses $814K
20%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $344K · Total expenses $814K
42%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 87%
Overhead ratio 12%
Fundraising cost ratio 0%
Revenue growth -18%
Investment management fee ratio 0%
Legal fee ratio 1%
Accounting fee ratio 3%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$1.1M
Grants paid · 5 grants · $88K · 2020–2024
Unitemized GrantFY2024$18,723
Unitemized GrantFY2023$24,197
Unitemized GrantFY2022$12,208
Unitemized GrantFY2021$17,825
Unitemized GrantFY2020$15,050

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$3.4M revenue · viewing · ⤓ 990 PDF
FY2023$4.1M revenue · ⤓ 990 PDF
FY2022$1.9M revenue · ⤓ 990 PDF
FY2021$2.5M revenue · ⤓ 990 PDF
FY2020$2.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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