Impetus Fund

Washington, DCUnknown exempt organizationSince 2020 EIN 85-1701143Revenue $749K in FY2025

On file with the IRSimpetusfund.org1200 G Street Nw 800 · Washington, DC

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To operate exclusively for the purpose of promoting social welfare, including, but not limited to, providing public education, conducting advocacy, and encouraging civic engagement.

97¢ of each $1 spent went to programs.
Run by 3 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

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FY2025 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $1.1M a year · 6% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$749K
-96% vs prior year
Spent
$10.3M
To programs
97%
Net assets
$5.6M
By yearFY2021–FY2025
Revenue
$749K
FY2025▼ -96%
Tap a bar for its year
Revenue by fiscal year
FY2021$68.6M
FY2022$2.3M
FY2023$3.8M
FY2024$20.2M
FY2025$749K
Expenses
$10.3M
FY2025▲ +36%
Tap a bar for its year
Expenses by fiscal year
FY2021$67.8M
FY2022$1.7M
FY2023$2.6M
FY2024$7.6M
FY2025$10.3M
Net assets
$5.6M
FY2025▼ -63%
Tap a bar for its year
Net assets by fiscal year
FY2021$710K
FY2022$1.3M
FY2023$2.6M
FY2024$15.2M
FY2025$5.6M

From the FY2025 Form 990 (year ending June 2025) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $10.0M Management & general 3% · $277K

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

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
President and Chair (thru 4/2025)
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Saurabh Gupta$6,320$8,025$6,689$2,512

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Impetus Fund 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

Promotes common good, community well-being, and societal strength.

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Provided by the organization

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1 program · $10.0M · in their own filed words · FY2024
01

Civil Rights, Social Action, and Advocacy

The fund aims to advance a broad agenda of important social issues using grantmaking, education, advocacy, grassroots activism, civic engagement, research, lobbying, and other tactics and strategies. Through its efforts, the fund's vision is to achieve a society that benefits everyone.

$10.0Mprogram expense

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 · 23 grants · $85.3M · 2020–2024
Sixteen Thirty FundDC · FY2024$7,700,000
Defending Democracy TogetherDC · FY2024$1,000,000
Work for America INCNY · FY2024$530,000
Forward Action FundNH · FY2024$500,000
Voto Latino INCDC · FY2024$111,600
Fund for StatesDC · FY2024$50,000
Workmoney INCWI · FY2023$3,000,000
North FundDC · FY2023$1,100,000
Future Forward USA ActionDC · FY2023$1,000,000
Defending Democracy TogetherDC · FY2023$1,000,000
Forward Action FundNH · FY2023$500,000
Fair DemocracyDC · FY2023$250,000
Act Now ProjectCA · FY2023$111,000
Center for Voter InformationDC · FY2023$46,460
Adler UniversityIL · FY2023$10,000
America VotesDC · FY2022$2,175,199
America VotesDC · FY2021$1,530,786
Future Forward USA ActionDC · FY2020$55,851,537
See all 23 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$749K
Ln 12
Gifts and grantsLn 1h$509K
Investment incomeLn 3$198K
Other incomeLn 4–11$42K
Money outPt IX
$10.3M
Ln 25
Programscol B$10.0M
Managementcol C$277K
Owns and owesPt X
$5.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.7M
Total assetsLn 16$5.7M
LiabilitiesLn 26$10K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$509K
Noncash giftsLn 1g$199K
Investment incomeLn 3$198K
Other incomeLn 4–11$42K
Gains on assetsLn 7$28K
Total revenueLn 12$749K
Assets in detailPt X, end of year
CashLn 1$1.7M
SavingsLn 2$101
Cash and savings togetherLn 1–2$1.7M
Total assetsLn 16$5.7M
LiabilitiesLn 26$10K
Net assetsLn 32$5.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 63
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$7.7M$1.7M
Total assetsLn 16$16.4M$5.7M
LiabilitiesLn 26$1.2M$10K
Net assetsLn 32$15.2M$5.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$9.9M$9.9M
Management feesLn 11a$213K$213K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$28K$28K
Lobbying feesLn 11d$120K$120K
Other fees for servicesLn 11g$15K$15K
OccupancyLn 16$3K$3K
TravelLn 17$2K$2K
InsuranceLn 23$14K$14K
Other expenses (24a–d)Ln 24$4K$4K$150
Total functional expensesLn 25$10.3M$10.0M$277K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $749K$10.3M−$9.5M$5.6M 990 PDF
FY2024 $20.2M$7.6M$12.6M$15.2M 990 PDF
FY2023 $3.8M$2.6M$1.3M$2.6M 990 PDF
FY2022 $2.3M$1.7M$606K$1.3M 990 PDF
FY2021 $68.6M$67.8M$710K$710K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants M · Noncash O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $748,916 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $19,884,274$508,582
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $211,370$198,410
I-11 Other revenuePrior year $83,234$41,924
I-12 Total revenuePrior year $20,178,878$748,916
I-13 Grants and similar amounts paidPrior year $7,017,460$9,891,600
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $6,320$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $547,990$402,190
I-18 Total expensesPrior year $7,571,770$10,293,790
I-19 Revenue less expensesPrior year $12,607,108−$9,544,874
Part VI · Governance 2 of 2 board members independent, 1 to look at
VI-1a Voting members of the governing body2
VI-1b Independent voting members2
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $748,916 across 7 lines filed
VIII-1f All other contributions, gifts and grants$508,582
VIII-1g Noncash contributions (included above)$198,582
VIII-1h Total contributions, gifts and grants$508,582
VIII-3 Investment incomeExcluded from tax $170,795$170,795
VIII-7 Net gain or loss on sales of assetsExcluded from tax $27,615$27,615
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $41,924$41,924
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $240,334$748,916
Part IX · Statement of functional expenses $10,293,790 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $9,891,600$9,891,600
IX-11a Management feesManagement $213,371$213,371
IX-11b Legal feesManagement $2,435$2,435
IX-11c Accounting feesManagement $28,371$28,371
IX-11d Lobbying feesPrograms $120,000$120,000
IX-11g Other fees for servicesManagement $15,000$15,000
IX-16 OccupancyManagement $3,445$3,445
IX-17 TravelPrograms $1,669$1,669
IX-23 InsuranceManagement $13,780$13,780
IX-24 Other expenses (24a–d)Programs $3,969 · Management $150$4,119
IX-25 Total functional expensesPrograms $10,017,238 · Management $276,552 · Fundraising $0$10,293,790
Part X · Balance sheet $5,650,452 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $7,720,615$1,660,761
X-2 Savings and temporary cash investments$101
X-3 Pledges and grants receivableStart of year $8,701,694$3,986,934
X-9 Prepaid expenses and deferred chargesStart of year $3,532$2,656
X-16 Total assetsStart of year $16,425,841$5,650,452
X-17 Accounts payable and accrued expensesStart of year $140,816$10,301
X-18 Grants payableStart of year $1,100,000$0
X-26 Total liabilitiesStart of year $1,240,816$10,301
X-27 Net assets without donor restrictionsStart of year $708,642$821,832
X-28 Net assets with donor restrictionsStart of year $14,476,383$4,818,319
X-32 Total net assets or fund balancesStart of year $15,185,025$5,640,151
X-33 Total liabilities and net assetsStart of year $16,425,841$5,650,452
Part XI · Reconciliation of net assets $5,640,151 net assets at year end
XI-1 Total revenue$748,916
XI-2 Total expenses$10,293,790
XI-3 Revenue less expenses−$9,544,874
XI-4 Net assets at start of year$15,185,025
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,640,151

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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