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Nonprofiteer
← CANARY IMPACT LAB INC

Form 990 for tax year 2023

Filed by CANARY IMPACT LAB INC.

Totals

Total revenue
$2,614,175
Total expenses
$2,037,608
Contributions and grants received
$2,556,460
Grants paid
$1,990,375
Program service revenue
$50,224
Investment income
$7,491
Other revenue
$0
Total assets, end of year
$1,469,994
Total liabilities, end of year
$15,815
Net assets or fund balances, end of year
$1,454,179
Program services expenses (Part IX)
$1,990,375
Management and general expenses
$47,233
Fundraising expenses
$0
Program service expenses (Part III)
$1,990,375

Program services were 97.7% 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

    $2,556,460

  • 2a · Program service revenue: PROGRAM SERVICE INCOME

    total $50,224 · related or exempt $50,224

  • 3 · Investment income

    total $7,491 · excluded $7,491

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,988,375 · program services $1,988,375

  • 3 · Grants to foreign organizations and individuals

    total $2,000 · program services $2,000

  • 11b · Fees: legal

    total $675 · management and general $675

  • 11c · Fees: accounting

    total $16,699 · management and general $16,699

  • 11g · Fees: other

    total $24,015 · management and general $24,015

  • 13 · Office expenses

    total $2,800 · management and general $2,800

  • 23 · Insurance

    total $3,044 · management and general $3,044

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $789,593 · end of year $847,281

  • 4 · Accounts receivable

    beginning of year $195,688 · end of year $620,269

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,555 · end of year $2,444

  • 25 · Other liabilities

    beginning of year $110,224 · end of year $15,815

  • 27 · Net assets without donor restrictions

    beginning of year -$26,930 · end of year $8,096

  • 28 · Net assets with donor restrictions

    beginning of year $904,542 · end of year $1,446,083

Mission and programs · 2023

Mission

CANARY RAISES AND DISTRIBUTES FUNDS TO HELP INDIVIDUALS EXPERIENCING FINANCIAL NEED, CONDUCTS RESEARCH, ADVANCES BEST PRACTICES, INFORMS POLICY DEVELOPMENT, AND EXPERIMENTS WITH NEW APPROACHES TO BOLSTER FINANCIAL HEALTH.

Activities or mission (Part I)

CANARY RAISES AND DISTRIBUTES FUNDS TO INDIVIDUALS EXPERIENCING FINANCIAL NEED.

  • CANARY RAISES AND DISTRIBUTES FUNDS TO INDIVIDUALS EXPERIENCING FINANCIAL NEED. MANY RECIPIENTS HAVE EXPERIENCED AN UNPREDICTABLE OR UNAVOIDABLE EVENT THAT MAKES IT DIFFICULT FOR THEM TO AFFORD BASIC LIVING EXPENSES. OTHERS EXPERIENCE ONGOING FINANCIAL FRAGILITY, AND THE GRANTS ENABLE THEM TO PURSUE THEIR GOALS OF LONGER-TERM SECURITY OR MOBILITY. IN THE COURSE OF DELIVERING FUNDS, CANARY IMPACT LAB GATHERS AND ANALYZES DATA ABOUT HOW THESE FUNDS HELP THE RECIPIENTS. WE FIND THAT THE GRANTS ENABLE PEOPLE TO AVOID SIGNIFICANT NEGATIVE EVENTS SUCH AS MISSING BILLS OR RISKING EVICION. THEY LOWER FINANCIAL STRESS, MAKING IT MORE POSSIBLE FOR RECIPIENTS TO IMPROVE THEIR FINANCIAL HEALTH.

    Expenses $1,990,375 · Grants $1,990,375 · Revenue $50,224

As filed on the 2023 return.

Listed in Part VII

  • JENNY CALVERT RODRIGUES

    CHAIR

    Total calculated
    $0
    Hours/week
    0.25

  • ADRIAN HARO

    VICE CHAIR & TREASURER

    Total calculated
    $0
    Hours/week
    0.25

  • KRISTEN BERMAN

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.25

  • KEN GROUF

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.25 + 0.25 related

  • RACHEL SCHNEIDER

    BOARD MEMBER

    Total calculated
    $118,450
    From this org
    $0
    From related orgs
    $115,000
    Other
    $3,450
    Hours/week
    0.25 + 40 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.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
30 October 2024
IRS schema version
2023v5.1
Source object
202413049349301671

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