Impetus Fund FY2024 filing

Washington, DCUnknown exempt organizationSince 2020EIN 85-1701143Revenue $20.2M in FY2024

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.

94¢ of each $1 spent went to programs.
$6K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $3.8M a year · 16% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$6K
to officers and key staff · 0.08% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
12 mo
of spending, in cash
Looks good: 12.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.2M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
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
$20.2M
+427% vs prior year
Spent
$7.6M
To programs
94%
Net assets
$15.2M
By yearFY2021–FY2024
Revenue
$20.2M
FY2024▲ +427%
Tap a bar for its year
Revenue by fiscal year
FY2021$68.6M
FY2022$2.3M
FY2023$3.8M
FY2024$20.2M
FY2024$749K
Expenses
$7.6M
FY2024▲ +195%
Tap a bar for its year
Expenses by fiscal year
FY2021$67.8M
FY2022$1.7M
FY2023$2.6M
FY2024$7.6M
FY2024$10.3M
Net assets
$15.2M
FY2024▲ +489%
Tap a bar for its year
Net assets by fiscal year
FY2021$710K
FY2022$1.3M
FY2023$2.6M
FY2024$15.2M
FY2024$5.6M

From the FY2024 Form 990 (year ending June 2024) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $7.1M Management & general 6% · $429K

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

4 people listed on the 990; $6K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
General Counsel (through 4/2024)
$6,320Pt VII · Sec A
President and Chair
$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.

Provided by the organization

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1 program · $7.1M · in their own filed words · FY2023
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.

$7.1Mprogram 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 FY2024 990, line by line.

1The main four
Money inPt VIII
$20.2M
Ln 12
Gifts and grantsLn 1h$19.9M
Investment incomeLn 3$211K
Other incomeLn 4–11$83K
Money outPt IX
$7.6M
Ln 25
Programscol B$7.1M
Managementcol C$429K
Owns and owesPt X
$15.2M
net assets · Ln 32
Cash and savingsLn 1–2$7.7M
Total assetsLn 16$16.4M
LiabilitiesLn 26$1.2M
PeoplePt VI, VII
4
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$19.9M
Noncash giftsLn 1g$11.2M
Investment incomeLn 3$211K
Other incomeLn 4–11$83K
Gains on assetsLn 7$41K
Total revenueLn 12$20.2M
Assets in detailPt X, end of year
CashLn 1$7.7M
SavingsLn 2$0
Cash and savings togetherLn 1–2$7.7M
Total assetsLn 16$16.4M
LiabilitiesLn 26$1.2M
Net assetsLn 32$15.2M
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 FY24End FY24
Cash and savingsLn 1–2$2.7M$7.7M
Total assetsLn 16$2.7M$16.4M
LiabilitiesLn 26$89K$1.2M
Net assetsLn 32$2.6M$15.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7.0M$7.0M
Pay of current officers, directors and key staffLn 5$6K$6K
Management feesLn 11a$333K$333K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$32K$32K
Lobbying feesLn 11d$120K$120K
Other fees for servicesLn 11g$45K$45K
Information technologyLn 14$340$340
OccupancyLn 16$1K$1K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$6K$6K$70
Total functional expensesLn 25$7.6M$7.1M$429K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $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 I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $20,178,878 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,783,606$19,884,274
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $13,261$211,370
I-11 Other revenuePrior year $28,815$83,234
I-12 Total revenuePrior year $3,825,682$20,178,878
I-13 Grants and similar amounts paidPrior year $2,175,199$7,017,460
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $8,025$6,320
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $380,641$547,990
I-18 Total expensesPrior year $2,563,865$7,571,770
I-19 Revenue less expensesPrior year $1,261,817$12,607,108
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $20,178,878 across 7 lines filed
VIII-1f All other contributions, gifts and grants$19,884,274
VIII-1g Noncash contributions (included above)$11,182,580
VIII-1h Total contributions, gifts and grants$19,884,274
VIII-3 Investment incomeExcluded from tax $170,425$170,425
VIII-7 Net gain or loss on sales of assetsExcluded from tax $40,945$40,945
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $83,234$83,234
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $294,604$20,178,878
Part IX · Statement of functional expenses $7,571,770 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $7,017,460$7,017,460
IX-5 Pay of current officers, directors and key staffManagement $6,320$6,320
IX-11a Management feesManagement $332,939$332,939
IX-11b Legal feesManagement $1,035$1,035
IX-11c Accounting feesManagement $31,900$31,900
IX-11d Lobbying feesPrograms $120,000$120,000
IX-11g Other fees for servicesManagement $45,000$45,000
IX-14 Information technologyManagement $340$340
IX-16 OccupancyManagement $1,408$1,408
IX-23 InsuranceManagement $9,580$9,580
IX-24 Other expenses (24a–d)Programs $5,718 · Management $70$5,788
IX-25 Total functional expensesPrograms $7,143,178 · Management $428,592 · Fundraising $0$7,571,770
Part X · Balance sheet $16,425,841 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,858,481$7,720,615
X-2 Savings and temporary cash investmentsStart of year $805,608$0
X-3 Pledges and grants receivableStart of year $0$8,701,694
X-9 Prepaid expenses and deferred chargesStart of year $2,658$3,532
X-16 Total assetsStart of year $2,666,747$16,425,841
X-17 Accounts payable and accrued expensesStart of year $88,830$140,816
X-18 Grants payableStart of year $0$1,100,000
X-26 Total liabilitiesStart of year $88,830$1,240,816
X-27 Net assets without donor restrictionsStart of year $647,779$708,642
X-28 Net assets with donor restrictionsStart of year $1,930,138$14,476,383
X-32 Total net assets or fund balancesStart of year $2,577,917$15,185,025
X-33 Total liabilities and net assetsStart of year $2,666,747$16,425,841
Part XI · Reconciliation of net assets $15,185,025 net assets at year end
XI-1 Total revenue$20,178,878
XI-2 Total expenses$7,571,770
XI-3 Revenue less expenses$12,607,108
XI-4 Net assets at start of year$2,577,917
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$15,185,025

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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