Totals
- Total revenue
- $961,614
- Total expenses
- $1,468,342
- Contributions and grants received
- $8,819
- Grants paid
- $0
- Program service revenue
- $938,041
- Investment income
- $14,754
- Other revenue
- $0
- Total assets, end of year
- $22,764,384
- Total liabilities, end of year
- $17,652,044
- Net assets or fund balances, end of year
- $5,112,340
- Program services expenses (Part IX)
- $1,236,832
- Management and general expenses
- $135,330
- Fundraising expenses
- $96,180
- Program service expenses (Part III)
- $1,236,832
Program services were 84.2% 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.
-
1f · All other contributions, gifts and grants
$8,819
-
2a · Program service revenue: LOAN INTEREST
total $822,812 · related or exempt $822,812
-
2b · Program service revenue: LOAN FEES
total $115,229 · related or exempt $115,229
-
3 · Investment income
total $14,754 · excluded $14,754
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $391,315 · program services $249,118 · management and general $73,393 · fundraising $68,804
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $9,277 · program services $5,907 · management and general $1,738 · fundraising $1,632
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $31,495 · program services $20,050 · management and general $5,907 · fundraising $5,538
-
10 · Payroll taxes
total $38,955 · program services $24,800 · management and general $7,306 · fundraising $6,849
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $85,053 · program services $85,053
-
11c · Fees: accounting
total $35,696 · management and general $35,696
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $7,090 · fundraising $7,090
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $0
-
12 · Advertising and promotion
total $6,974 · program services $5,967 · fundraising $1,007
-
13 · Office expenses
total $24,146 · program services $19,232 · management and general $2,982 · fundraising $1,932
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $15,150 · program services $10,453 · management and general $2,424 · fundraising $2,273
-
17 · Travel
total $11,228 · program services $11,228
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $295,887 · program services $295,887
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $4,356 · program services $3,005 · management and general $697 · fundraising $654
-
23 · Insurance
total $13,110 · program services $8,522 · management and general $4,588
-
24a · Other expenses: DUES AND SUBSCRIPTIONS
total $27,721 · program services $26,721 · management and general $599 · fundraising $401
-
24b · Other expenses: LOAN LOSS
total $427,671 · program services $427,671
-
24c · Other expenses: BAD DEBT
total $43,218 · program services $43,218
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $7,348,716 · end of year $268,985
-
2 · Savings and temporary cash investments
beginning of year $819,711 · end of year $6,127,554
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $175 · end of year $43,218
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $13,830,551 · end of year $16,236,505
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $21,105 · end of year $6,579
-
10a · Land, buildings and equipment: cost or other basis
$40,482
-
10b · Land, buildings and equipment: accumulated depreciation
$38,028
-
10c · Land, buildings and equipment, net
beginning of year $6,810 · end of year $2,454
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $168,112 · end of year $79,089
-
17 · Accounts payable and accrued expenses
beginning of year $43,528 · end of year $83,747
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $0
-
24 · Unsecured notes and loans payable
beginning of year $16,478,061 · end of year $17,478,061
-
25 · Other liabilities
beginning of year $54,523 · end of year $90,236
-
27 · Net assets without donor restrictions
beginning of year $2,501,542 · end of year $1,994,814
-
28 · Net assets with donor restrictions
beginning of year $3,117,526 · end of year $3,117,526
Mission and programs · 2022
Mission
IMPACT CAPITAL IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT MAKES STRATEGIC LOANS IN ORGANIZATIONS, TRIBAL ENTITIES, AND HOUSING AUTHORITIES TO SPUR COMMUNITY DEVELOPMENT, INCLUDING AFFORDABLE HOUSING, ART AND CULTURAL CENTERS, COMMUNITY FACILITIES, AND VIBRANT COMMERCIAL DISTRICTS. OUR WORK TRANSFORMS DISTRESSED COMMUNITIES AND NEIGHBORHOODS INTO HEALTHY ONES - GOOD PLACES TO LIVE, WORK, DO BUSINESS, AND RAISE FAMILIES.
Activities or mission (Part I)
Impact Capital is a community development financial institution that makes strategic loans to organizations, tribal entities, and housing authorities to spur community development
-
Impact Capital manages two loan pools that provide loans to organizations, housing authorities, and tribal entities, for the creation of affordable housing and community facilities. Affordable housing financed by Impact Capital services people typically at or below 80% of area median income. Community facilities provide access to services for low and moderate income people. Loans are used to fund property acquisition, predevelopment expenses, or to bridge permanent capital. These are often transactions that do not meet the risk profiles of traditional bank lenders. Impact Capital was created to provide access to capital and other resources for underserved communities. Our lending provides a foundation for new development that attracts public and private permanent financing and serves as a needed catalyst for development. We help build equitable communities with clean, safe affordable housing, and access to services including parks, schools, and vibrant commercial corridors. In 2022, Impact Capital closed $12,136,703 in loans.
Expenses $1,236,832 · Revenue $938,041
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Joel Millar
Executive Director
- Total calculated
- $151,465
- From this org
- $147,000
- From related orgs
- $0
- Other
- $4,465
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $147,000
- Bonus
- not reported
- Other
- not reported
- Deferred
- $4,465
- Nontaxable benefits
- not reported
- Filer's total
- $151,465
-
Lora Bourelle
COO/CFO
- Total calculated
- $130,918
- From this org
- $126,303
- From related orgs
- $0
- Other
- $4,615
- Hours/week
- 40
-
Marcel Neff
VP of Lending
- Total calculated
- $108,932
- From this org
- $105,759
- From related orgs
- $0
- Other
- $3,173
- Hours/week
- 40
-
Bryan Ketcham
Board Chair
- Total calculated
- $0
- Hours/week
- 1
-
Leanne Antonio
Board Vice Chair
- Total calculated
- $0
- Hours/week
- 1
-
Susan Duren
Secretary/Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Doug Prince
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
David Foreman
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Lowel Krueger
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Steve Walker
Board Member
- Total calculated
- $0
- Hours/week
- 1
-
Kim Etherton
Board Member
- Total calculated
- $0
- Hours/week
- 1
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 · Compensation survey or study
- 3 · Approval by the board or compensation committee
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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 10 August 2023
- IRS schema version
- 2022v5.0
- Source object
- 202332239349302008
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.