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Gct Impact Corp

New York, NYUnknown exempt organizationEIN 82-2350159

The mission of gct impact corp ("gct impact") is to support the development of an inclusive, diverse, and sustainable technology and entrepreneurship ecosystem by providing educational programming, internships and training programs to the startup community. Gct impact will create programming and pathways for underrepresented communities to access the technology industry by leveraging opportunities for scalable social impact. Gct impact will also train founders from the technology startup community on building values-based companies with diversity and inclusion at their core. Gct impact plans to solicit and receive funds from individuals, foundations and public charities so that IT will qualify as a public charity.

84¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 2
filings with a surplus
Average deficit $14K a year · 2009% of revenue · last 2 filings
Concern: a surplus in 0 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1K
Spent
$20K
To programs
84%
Net assets
$0
By yearFY2020–FY2022
Revenue
$1K
FY2022
Revenue by fiscal year
FY2020$0
FY2022$1K
Expenses
$20K
FY2022▲ +109%
Expenses by fiscal year
FY2020$10K
FY2022$20K
Net assets
$0
FY2022▼ -100%
Net assets by fiscal year
FY2020$21K
FY2022$0

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $17K Management & general 16% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Gct Impact Corp executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowers underrepresented communities with tech education, internships, and training for an inclusive startup ecosystem.

Provided by the organization

This section is blank until Gct Impact Corp claims this page.

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1 program service account for $17K of program spending, described in the organization's own filed words · FY2022.
01

GCT impact launched its comprehensive, year-round internship program that provides college students with extracurricular instruction, project-based learning, mentorship, career exploration and readiness activities, and full-time, paid summer internships with new york city-based tech companies. This program launched in 2018.

$17Kprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 8 grants · $17K · 2022–2022
Wiggle Room Now Public Benefit CorpFY2022$2,100
Upchieve INCNY · FY2022$2,100
Henry Street SettlementNY · FY2022$2,100
Generation ConsciousFY2022$2,100
Fund for the City of New York INCNY · FY2022$2,100
First Tech Fund INCNY · FY2022$2,100
Drip Drop Health INCFY2022$2,100
Commit to Green INCFY2022$2,100

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1K
Ln 12
Gifts and grantsLn 1h$1K
Money outPt IX
$20K
Ln 25
Programscol B$17K
Managementcol C$3K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1K
Total revenueLn 12$1K
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$19K$0
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$19K$0
LiabilitiesLn 26$0$0
Net assetsLn 32$19K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$17K$17K
Office expensesLn 13$30$30
InsuranceLn 23$3K$3K
Total functional expensesLn 25$20K$17K$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest Viewing $1K$20K−$19K$0 990 PDF
FY2021 Not on file
FY2020 $0$10K−$10K$21K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $1,410 across 3 lines filed
VIII-1f All other contributions, gifts and grants$1,410
VIII-1h Total contributions, gifts and grants$1,410
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$1,410
Part IX · Statement of functional expenses $20,113 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $16,800$16,800
IX-13 Office expensesManagement $30$30
IX-23 InsuranceManagement $3,283$3,283
IX-25 Total functional expensesPrograms $16,800 · Management $3,313 · Fundraising $0$20,113
Part X · Balance sheet $0 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $18,703$0
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $18,703$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $18,703$0
X-33 Total liabilities and net assetsStart of year $18,703$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$1,410
XI-2 Total expenses$20,113
XI-3 Revenue less expenses−$18,703
XI-4 Net assets at start of year$18,703
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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