Overview
What is The New Impact Fund?
The New Impact Fund is a small-scale nonprofit organization situated in Minneapolis, Minnesota. With only one employee, their primary objective is to educate individuals to collectively engage in high-impact philanthropy. By providing necessary knowledge and resources, they aim to empower individuals to make significant contributions to various social causes and initiatives. The New Impact Fund operates with the belief that collective efforts in philanthropy can yield substantial positive impacts in their respective communities.
Official website here: www.newimpactfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, Two-Star out of Four Star rating
The New Impact Fund has received a two-star rating from Charity Navigator, indicating some concerns regarding its accountability and financial practices. The organization shows strengths such as having a majority of independent board members and a strong program expense ratio, which suggests effective allocation of funds towards its mission. However, the rating also highlights significant weaknesses, particularly in financial transparency, as reflected by the low score in financial statements.
Despite having policies in place for conflict of interest and asset diversion, The New Impact Fund's lack of a whistleblower policy and shortcomings in document retention and public financial reporting raise red flags. The absence of posted financial documents on its website diminishes its transparency and may hinder potential donors' trust. Overall, while the organization demonstrates commitment in certain areas, its financial accountability needs considerable improvement.
Potential supporters should weigh these factors carefully when considering engagement with The New Impact Fund. The organization’s strengths in governance are positive, but the noted limitations regarding financial practices suggest a need for greater transparency and accountability to ensure donor confidence.
This AI summary has been generated from information found on Charity Navigator.
Is The New Impact Fund legitimate?
The New Impact Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. The New Impact Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $7,147
For more financial information, click here
Official website here: www.newimpactfund.org
What is the mission statement of The New Impact Fund?
The New Impact Fund's mission is centered around providing education to individuals, encouraging them to collectively engage in high impact philanthropy. By offering educational resources, the organization aims to facilitate collaborative efforts in charitable giving, ultimately aiming to make a significant positive impact in various communities.
Official website here: www.newimpactfund.org
Who is the CEO of The New Impact Fund?
Alicia R Phillips is the Secretary of The New Impact Fund.
Official website here: www.newimpactfund.org
What is the revenue of The New Impact Fund?
The New Impact Fund's revenue in 2022 was $696,250.
Official website here: www.newimpactfund.org
Who are the executives of The New Impact Fund and what are their salaries?
The average compensation at The New Impact Fund during 2022 was $7,147. There is 1 employee at The New Impact Fund.
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.newimpactfund.org
Where can I find the form 990 for The New Impact Fund?
The New Impact Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newimpactfund.org
Learn more at the official website: www.newimpactfund.org
Mission Statement of The New Impact Fund
The New Impact Fund is committed to providing education to individuals, encouraging them to collaboratively engage in high-impact philanthropy. Their mission is centered around this goal, aiming to equip individuals with the necessary knowledge and resources to collectively make a significant impact in philanthropic endeavors. By educating individuals, The New Impact Fund seeks to foster a community of philanthropists who can work together to bring about meaningful change.
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Impact
July, 2024
The New Impact Fund is empowering individuals to make a significant impact through philanthropy by providing education and guidance on high-impact strategies. Through their efforts in Minneapolis, MN, they are equipping individuals with the knowledge and resources to engage in philanthropic endeavors that create meaningful change in their communities and beyond.
This information is meant to be a general summary of The New Impact Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $696,250
Assets and Liabilities:
- Total Assets: $504,799
- Total Liabilities: $3,256
- Net Assets: $501,543
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Organization Details
Founding Year
2014
Phone
(612) 281-4809Principal Officer
Alicia R Phillips
Main Address
4816 NICOLLET AVENUE S, MINNEAPOLIS, MN, 55419
Website
www.newimpactfund.orgNTEE Category
Code: T50 - Philanthropy
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