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Nonprofiteer
← BUSINESS IMPACT NW

Form 990 for tax year 2023

Filed by BUSINESS IMPACT NW.

Totals

Total revenue
$6,779,426
Total expenses
$8,795,037
Contributions and grants received
$4,987,616
Grants paid
$0
Program service revenue
$1,724,233
Investment income
$64,796
Other revenue
$2,781
Total assets, end of year
$30,476,339
Total liabilities, end of year
$22,065,590
Net assets or fund balances, end of year
$8,410,749
Program services expenses (Part IX)
$6,278,609
Management and general expenses
$1,669,152
Fundraising expenses
$847,276
Program service expenses (Part III)
$6,278,609

Program services were 71.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $3,486,978

  • 1f · All other contributions, gifts and grants

    $1,500,638

  • 2a · Program service revenue: LOAN INTEREST

    total $1,439,760 · related or exempt $1,439,760

  • 2b · Program service revenue: LOAN FEES AND CHARGES

    total $259,385 · related or exempt $259,385

  • 2c · Program service revenue: TRAINING FEES

    total $20,156 · related or exempt $20,156

  • 2d · Program service revenue: SERVICING RIGHTS

    total $4,932 · related or exempt $4,932

  • 3 · Investment income

    total $64,796 · excluded $64,796

  • 11a · Other revenue: MISCELLANEOUS

    total $2,781 · related or exempt $2,781

  • 11e · Other revenue, total

    $2,781

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $174,629 · program services $117,994 · management and general $34,967 · fundraising $21,668

  • 7 · Other salaries and wages

    total $4,349,121 · program services $2,938,620 · management and general $870,856 · fundraising $539,645

  • 9 · Other employee benefits

    total $588,111 · program services $396,263 · management and general $124,764 · fundraising $67,084

  • 10 · Payroll taxes

    total $404,426 · program services $276,893 · management and general $79,200 · fundraising $48,333

  • 11b · Fees: legal

    total $34,787 · program services $1,023 · management and general $33,764

  • 11c · Fees: accounting

    total $64,732 · management and general $64,732

  • 11g · Fees: other

    total $312,908 · program services $136,262 · management and general $155,980 · fundraising $20,666

  • 12 · Advertising and promotion

    total $195,442 · program services $18,777 · management and general $29,408 · fundraising $147,257

  • 13 · Office expenses

    total $15,774 · program services $11,189 · management and general $4,526 · fundraising $59

  • 14 · Information technology

    total $398,693 · program services $296,007 · management and general $102,686

  • 16 · Occupancy

    total $57,854 · program services $21,632 · management and general $36,222

  • 17 · Travel

    total $183,832 · program services $124,558 · management and general $56,964 · fundraising $2,310

  • 20 · Interest

    total $420,940 · program services $420,940

  • 22 · Depreciation, depletion and amortization

    total $4,096 · management and general $4,096

  • 23 · Insurance

    total $13,731 · management and general $13,731

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $1,312,344 · program services $1,312,344

  • 24b · Other expenses: LENDING COSTS

    total $50,857 · program services $50,857

  • 24c · Other expenses: B&O TAXES

    total $44,928 · management and general $44,928

  • 24d · Other expenses: STAFF TRAINING

    total $39,548 · program services $36,583 · management and general $2,905 · fundraising $60

  • 24e · All other expenses

    total $128,284 · program services $118,667 · management and general $9,423 · fundraising $194

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,681,978 · end of year $747,632

  • 2 · Savings and temporary cash investments

    beginning of year $4,640,108 · end of year $5,601,500

  • 3 · Pledges and grants receivable

    beginning of year $865,555 · end of year $1,718,591

  • 4 · Accounts receivable

    beginning of year $14,612 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $18,231,096 · end of year $21,935,592

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,524 · end of year $18,524

  • 10a · Land, buildings and equipment: cost or other basis

    $99,531

  • 10b · Land, buildings and equipment: accumulated depreciation

    $89,096

  • 10c · Land, buildings and equipment, net

    beginning of year $14,531 · end of year $10,435

  • 15 · Other assets

    beginning of year $1,564,060 · end of year $444,065

  • 17 · Accounts payable and accrued expenses

    beginning of year $108,399 · end of year $557,464

  • 19 · Deferred revenue

    beginning of year $16,926 · end of year $14,027

  • 23 · Secured mortgages and notes payable

    beginning of year $11,326,961 · end of year $13,601,836

  • 24 · Unsecured notes and loans payable

    beginning of year $5,576,662 · end of year $7,746,164

  • 25 · Other liabilities

    beginning of year $110,424 · end of year $146,099

  • 27 · Net assets without donor restrictions

    beginning of year $10,241,925 · end of year $7,845,487

  • 28 · Net assets with donor restrictions

    beginning of year $649,167 · end of year $565,262

Mission and programs · 2023

Mission

TO PROVIDE ECONOMIC DEVELOPMENT FINANCING TO SERVE THE NEEDS OF SMALL BUSINESSES IN THE STATE OF WASHINGTON THAT WOULD NOT QUALIFY FOR PRIVATE FINANCING UNDER CONVENTIONAL FINANCING CRITERIA.

Activities or mission (Part I)

BUSINESS IMPACT NW GROWS BUSINESS THAT CREATE JOBS IN UNDERSERVED COMMUNITIES.

  • LOAN FUND ADMINISTRATION AS A CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) TO PROVIDE FINANCING AND MANAGEMENT ASSISTANCE PRIMARILY TO TARGETED BUSINESSES THAT WOULD OTHERWISE NOT BE ABLE TO RECEIVE FINANCING UNDER CONVENTIONAL METHODS.

    Expenses $6,278,609 · Revenue $1,727,014

As filed on the 2023 return.

Listed in Part VII

  • Joseph Sky-Tucker

    PRESIDENT/CEO

    Total calculated
    $174,630
    From this org
    $165,333
    From related orgs
    $0
    Other
    $9,297
    Hours/week
    40 + 0.25 related

    Schedule J breakdown matched by us

    Base
    $149,333
    Bonus
    $16,000
    Other
    $0
    Deferred
    $1,437
    Nontaxable benefits
    $7,860
    Filer's total
    $174,630

  • Greta Stough

    CXO

    Total calculated
    $131,013
    From this org
    $122,986
    From related orgs
    $0
    Other
    $8,027
    Hours/week
    40

  • Domonique Juleon

    CPO

    Total calculated
    $130,362
    From this org
    $122,000
    From related orgs
    $0
    Other
    $8,362
    Hours/week
    40

  • Victor Saldanha

    CLO

    Total calculated
    $127,213
    From this org
    $118,461
    From related orgs
    $0
    Other
    $8,752
    Hours/week
    40

  • Danielle Moser

    COO

    Total calculated
    $125,729
    From this org
    $117,349
    From related orgs
    $0
    Other
    $8,380
    Hours/week
    40

  • John Zmolek

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Kellen Ball

    BOARD VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Paul Kirkbride

    BOARD TREASURER

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Lorri Wallace

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

  • Jessica Enzi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Peter Ha

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

  • Robert Luettjohann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

  • Sean O'Mealia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

  • Megan Snyder

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

  • Kurt Heath

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

  • Munzer Sukhun

    DIRECTOR (THRU 3/23)

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

  • Kd Hall

    DIRECTOR (THRU 9/23)

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

  • Tom Berquist

    DIRECTOR (THRU 11/23)

    Total calculated
    $0
    Hours/week
    0.5 + 0.25 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE CEO'S BONUS IS DETERMINED BY AN EXECUTIVE COMMITTEE THAT IS BASED UPON HITTING LOAN GROWTH AND TARGETED DEMOGRAPHICS AS WELL AS POSITIVE NET INCOME.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
3 September 2024
IRS schema version
2023v5.1
Source object
202412609349302601

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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