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← COMMONWEALTH IMPACT FOUNDATION INC

Form 990 for tax year 2024

Filed by COMMONWEALTH IMPACT FOUNDATION INC.

Totals

Total revenue
$6,109,705
Total expenses
$8,661,815
Contributions and grants received
$6,427,064
Grants paid
$8,034,977
Program service revenue
$0
Investment income
$58,939
Other revenue
-$376,298
Total assets, end of year
$8,705,416
Total liabilities, end of year
$41,228
Net assets or fund balances, end of year
$8,664,188
Program services expenses (Part IX)
$8,410,622
Management and general expenses
$205,205
Fundraising expenses
$45,988
Program service expenses (Part III)
$8,410,622

Program services were 97.1% 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

    $6,427,064

  • 3 · Investment income

    total $58,939 · excluded $58,939

  • 6b · Less rental expenses

    real property $195

  • 6c · Rental income or loss

    real property -$195

  • 6d · Net rental income or loss

    total -$195 · excluded -$195

  • 11a · Other revenue: MANAGEMENT FEES

    total $46,868 · related or exempt $46,868

  • 11b · Other revenue: STOCK EQUITY GRANTS

    total -$211,146 · related or exempt -$211,146

  • 11c · Other revenue: K-1 PASS-THROUGH ACTIVITY

    total -$211,825 · unrelated business -$211,825

  • 11e · Other revenue, total

    -$376,103

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,034,977 · program services $8,034,977

  • 11b · Fees: legal

    total $6,124 · management and general $6,124

  • 11c · Fees: accounting

    total $60,500 · management and general $60,500

  • 11f · Fees: investment management

    total $40,828 · program services $40,828

  • 11g · Fees: other

    total $78,988 · program services $78,988

  • 12 · Advertising and promotion

    total $263 · fundraising $263

  • 13 · Office expenses

    total $64 · management and general $64

  • 14 · Information technology

    total $20,783 · management and general $20,783

  • 16 · Occupancy

    total $4,590 · management and general $4,590

  • 19 · Conferences, conventions and meetings

    total $7,521 · fundraising $7,521

  • 20 · Interest

    total $216 · management and general $216

  • 23 · Insurance

    total $6,282 · management and general $6,282

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $233,818 · program services $233,818

  • 24b · Other expenses: FUND ADMINISTRATION

    total $59,630 · management and general $59,630

  • 24c · Other expenses: MEALS & TRAVEL

    total $54,677 · program services $22,011 · fundraising $32,666

  • 24d · Other expenses: K-1 PASS-THROUGH DEDUCT

    total $44,550 · management and general $44,550

  • 24e · All other expenses

    total $8,004 · management and general $2,466 · fundraising $5,538

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,981,396 · end of year $326,903

  • 4 · Accounts receivable

    beginning of year $0 · end of year $32,400

  • 7 · Other notes and loans receivable

    beginning of year $360,614 · end of year $328,792

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,340 · end of year $2,101

  • 12 · Investments: other securities

    beginning of year $7,409,693 · end of year $7,763,141

  • 15 · Other assets

    beginning of year $278,932 · end of year $252,079

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,333 · end of year $39,738

  • 19 · Deferred revenue

    end of year $1,490

  • 25 · Other liabilities

    beginning of year $270,000 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $10,765,642 · end of year $8,664,188

Mission and programs · 2024

Mission

THE WORLD HAS NEVER EXPERIENCED SO MUCH PROSPERITY NOR FACED SO MANY MASSIVE CHALLENGES. COMMONWEALTH HARNESSES THE SAME ENTREPRENEURIAL TALENT THAT CREATES WEALTH TO CREATE MORE OPPORTUNITY FOR EVERYONE TO FLOURISH.

Activities or mission (Part I)

COMMONWEALTH HARNESSES ENTREPRENEURIAL TALENT TO HELP COMMUNITIES FLOURISH.

  • COMMONWEALTH IMPACT FOUNDATION HELPS NONPROFITS AND SOCIAL VENTURES WITH DEMONSTRATED SOCIAL IMPACT ACCESS EARLY-STAGE CAPITAL IN THE FORM OF GRANTS AND LOW-INTEREST LOANS. IN 2024, COMMONWEALTH PROVIDED MORE THAN $7M IN GRANT FUNDING TO WORLD SHOE FUND TO DISRUPT THE CHRONIC CYCLE OF POVERTY AND PREVENTABLE DISEASE IN DEVELOPING NATIONS THROUGH ADVOCACY, EDUCATION, AND ACCESS TO FOOTWEAR. IN 2024, WORLD SHOE FUND DISTRIBUTED MORE THAN 380,000 PAIRS OF SHOES FOR NATIONAL HEALTH AND HYGIENE INITIATIVES AND SECURED SEVEN NEW COUNTRY PARTNERSHIPS.

    Expenses $8,410,622 · Grants $8,034,977

  • COMMONWEALTH IMPACT FOUNDATION HOLDS AND ADMINISTERS DONOR ADVISED FUNDS TO MAKE MISSION-RELATED INVESTMENTS TO NONPROFIT AND FOR PROFIT COMPANIES WITH DEMONSTRATED SOCIAL IMPACT. THESE DONOR ADVISED FUNDS ARE TYPICALLY HELD BY INDIVIDUALS AND FUNDED BY A NEW CHARITABLE CONTRIBUTION OR GRANT FROM AN EXISTING DONOR ADVISED FUND AT ANOTHER INSTITUTION. DAF INVESTMENTS MAY BE IN THE FORM OF LOANS OR EQUITY. COMMONWEALTH MADE 8 NEW INVESTMENTS FROM DONOR ADVISED FUNDS IN 2024.

  • COMMONWEALTH IMPACT FOUNDATION SPECIALIZES IN REAL ESTATE TRANSACTIONS SUPPORTING NONPROFITS AND OTHER CHARITABLE ENTITIES. IN 2024, COMMONWEALTH FACILITATED A LOW-INTEREST LOAN FOR HEART CHANGE MINISTRIES TO ACQUIRE AND REDEVELOP A BUILDING IN INDIANAPOLIS. AT THIS FACILITY, HEART CHANGE SUPPORTS SINGLE MOTHERS IN CRISIS THROUGH EMOTIONAL SUPPORT, EDUCATION, AND CAREER TRAINING.

  • CW CITY FUND: COMMONWEALTH IS GROWING AN IMPACT INVESTING NETWORK IN 15 CITIES TO FUND VENTURE PHILANTHROPY AND VC/PE DEALS AIMED AT COMMUNITY RENEWAL.CW VENTURES: COMMONWEALTH SPONSORS SELECT PRIVATE OFFERINGS FOR COMPANIES ADVANCING MARKET SOLUTIONS TO THE WORLD'S BIGGEST PROBLEMS, INCLUDING THE WEALTH GAP BETWEEN WHITE FAMILIES AND BLACK FAMILIES IN AMERICA AND ACCESS TO QUALITY HEALTH CARE AND MENTAL HEALTH SERVICES.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • JAY HEIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • WINSTON JUSTICE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • CLIFF BENSON

    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.

Grants 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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MEI FLORIDA 2021 LLC

    INVESTMENT · INVESTMENT · IN · 88.73% owned · share of income -$11,680 · share of assets $387,833 · general or managing partner

    Directly controlled by COMMONWEALTH IMPACT FOUNDATION

  • IBR 2020 LLC

    INVESTMENT · INVESTMENT · IN · 85% owned · share of income -$1,542 · share of assets $277,386 · general or managing partner

    Directly controlled by COMMONWEALTH IMPACT FOUNDATION

  • MEI TEXAS 2020-1 LLC

    INVESTMENT · INVESTMENT · IN · 64.28% owned · share of income -$49,053 · share of assets $204,203 · general or managing partner

    Directly controlled by COMMONWEALTH IMPACT FOUNDATION

Related corporations and trusts

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

  • COMMONWEALTH VENTURES OF AMERICA LLC

    C · INVESTMENT MANAGEMENT · IN · 100% owned · share of income -$27,237 · share of assets $214,001 · controlled entity

    Directly controlled by COMMONWEALTH IMPACT FOUNDATION INC

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202543179349307079

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