Impact Foundation FY2023 filing

Cambridge, MN · Private foundation / grantmaker · Foundations & Grantmakers

✓ Tax-deductible Latest data FY2023
Revenue
$114K
▲ +25% vs prior year
Spent
$193K
Net assets
$1.5M
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Form 990 for the fiscal year ending December 2023 (IRS tax year 2023).

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
Not on file
Spent on programs?
Not on file
Size and trend
$100K–1M
↑ +25% vs prior year
Legal name (IRS)Hdr · item CImpact Foundation
EINHdr · item D41-1901660
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 1998
Latest filingForm 990FY2024 · Form 990-PF
Principal addressHdr · item CCambridge, MN
NTEE classificationIRS BMFFoundations & Grantmakers (T90Z)

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Grants & contributions paid $0.98 Operating & administrative $0.02
Grants & contributions paid98%$188K
Operating & administrative2%$5K
Total functional expensesLn 25$193K

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$114K
FY2023▲ +25%
Expenses
$193K
FY2023▼ -6%
Total assets
1.5M
deployed as grants and operations
Grants paid
188K
in FY2023
Grants made
20grants
total in period
Payout rate
13%
of assets (5% rule)

Summary of the Filing

Part I · fiscal year 2023 · Form 990-PF
Total assets
$1.5M
FY2023▼ -6%
Total liabilities
$0
FY2023
Total assetsPt II$1.5M

Balance Sheet

Part X · end of year
CashLn 1$46K
Total assetsLn 16$1.5M
Total liabilitiesLn 26$0
Total net assetsLn 32$1.5M
Months of cash on handcomputed2.8

Statement of Revenue

Part VIII
Contributions & grants$75K · 66%
Investment income$39K · 34%
Contributions & grants66%$75K
Investment income34%$39K
Total revenueLn 12$114K

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Payout rate
Grants paid $0 · Total assets $1.5M
0%
Where the money comes from
Contribution dependence
Contributions & grants — · Total revenue $114K
—
Government reliance
not reported
Earned-income share
not reported
Investment reliance
Investment income $0 · Total revenue $114K
0%
Program self-sufficiency
not reported
Growth & trend
Revenue growth (YoY)
This year $114K · Prior year $91K
+25%
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $114K · Expenses $193K
-70%
Liabilities-to-Assets
Total liabilities — · Total assets $1.5M
—
Net-asset ratio
Net assets $1.5M · Total assets $1.5M
100%
People & payroll
Highest Reported Total Compensation
Individual — · Reported title — · Highest reported compensation — · Total expenses $193K
No individual compensation reported on this filing
Personnel share
not reported
Peer comparison

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

MetricThis orgPeer medianPercentile
Revenue growth 25%——

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.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2023 filing did not itemize Part VII
CEO/President
$0Pt VII · Sec A
Cfp/Treasurer/VP
$0Pt VII · Sec A
See Impact Foundation executive salaries →

Are you one of these people? Claim this org to confirm your role

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1apending
Independent voting membersPt VI · Ln 1bpending
Conflict-of-interest policyPt VI · Ln 12a—
Whistleblower policyPt VI · Ln 13—
Document retention policyPt VI · Ln 14—
CEO/top-official compensation independently reviewedPt VI · Ln 15a—
Family or business relationships among officers/directorsPt VI · Ln 2—

Mission and programs

A private foundation based in Cambridge, MN.

Provided by the organization

This section is blank until Impact Foundation claims this page.

Know this organization? Claim it to add your story

Grants and how to apply

Who They Fund

Part XV · grants paid · 20 grants · $192K · 2024–2024
Calvary ChurchFY2024$53,000
Bethlehem College & SeminaryMN · FY2024$40,000
The North ChurchFY2024$20,000
Read Ministries INCMN · FY2024$15,000
Young Life Northern Twin CitiesFY2024$13,000
Minnesota Family InstituteMN · FY2024$13,000
Ten20 WordsFY2024$5,000
Hope United CDCFY2024$5,000
Tct NetworkFY2024$4,000
PioneersFY2024$4,000
Healing HaitiFY2024$3,000
Equipnet InternationalFY2024$3,000
Cru INCNC · FY2024$2,500
Young Life MinneapolisFY2024$2,000
World Relief WisconsinFY2024$2,000
Shepards Foundation INCFL · FY2024$2,000
Arrive MinistriesMN · FY2024$2,000
Society of Anglican MissionariesFY2024$1,500
See all 20 grants →

Grantmaking Profile

Patterns in foundation giving
Distinct granteesPart XV6
Average grantPart XV$10K
Median grantPart XV$4K
Largest grantPart XV$53K
Top cause focusNTEEColleges & Universities (5%)

Filing history

YearRevenueExpensesChangeFiling
FY2024 Latest $99K$196K-13% 990 PDF
FY2023 Viewing $114K$193K+25% 990 PDF
FY2022 $91K$205K-77% 990 PDF
FY2021 $392K$144K+212% 990 PDF
FY2020 $126K$137K 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

Similar organizations you could support

Closest in mission — by what they do
See all organizations like Impact Foundation →

Run this organization? Claim this page

Compare

Search another nonprofit to view revenue, expenses, assets, key metrics, and leaders side by side

Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the peer-cohort and compensation comparisons above.