Overview
What is Impact Charitable?
Impact Charitable is a Denver, Colorado-based nonprofit organization that aims to improve financial security for individuals across the state by providing emergency assistance through direct cash payments. They are a catalyst connecting philanthropists, community partners, foundations, financial institutions, social enterprises, and government entities to distribute funds in innovative ways to a larger population. With a staff of six dedicated individuals, Impact Charitable's most notable initiative is the Left Behind Workers Fund, which offers essential financial aid to undocumented residents during the COVID-19 pandemic, helping to create a safety net for those overlooked by existing support systems.
Official website here: www.impactcharitable.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star Rating) from Charity Navigator.
Impact Charitable has achieved an impressive 96% score, earning a Four-Star rating primarily based on its accountability and finance metrics. The charity demonstrates a strong commitment to transparency and ethical governance, having a fully independent board with no material diversion of assets. These factors contribute to a high level of trust among donors and stakeholders.
The organization excels in financial management, as evidenced by its remarkable program expense ratio of 98.64%, indicating that nearly all funds are directed towards its programs. Additionally, it has robust policies in place, such as a conflict of interest and whistleblower policy, reinforcing its commitment to ethical practices and accountability. The presence of a dedicated audit and oversight committee further enhances its financial integrity.
While the data presents a positive outlook, continuous monitoring of organizational effectiveness and impact on the community would be beneficial for maintaining donor confidence and support. Overall, Impact Charitable's strong performance on financial accountability and governance positions it as a reliable choice for philanthropic contributions.
This AI summary has been generated from information found on Charity Navigator.
Is Impact Charitable legitimate?
Impact Charitable is a legitimate nonprofit organization registered as a 501(c)(3) entity. Impact Charitable 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: $233,068
For more financial information, click here
Official website here: www.impactcharitable.org
What is the mission statement of Impact Charitable?
Impact Charitable brings together catalytic philanthropists, community partners, foundations, financial institutions, social enterprises, and government entities to facilitate the transfer of more funds to a greater number of people and places. The organization continues to operate the Left Behind Workers Fund, providing emergency financial assistance in the form of direct cash payments to undocumented individuals across various states, including Colorado. This initiative aims to enhance financial security, expedite recovery related to the impacts of COVID-19, and create a safety net for individuals who have been overlooked by existing social support systems. By connecting various stakeholders, Impact Charitable aims to broaden the scope and reach of philanthropic efforts and foster a more equitable distribution of resources.
Official website here: www.impactcharitable.org
Who is the CEO of Impact Charitable?
Rich Hoops is the President of Impact Charitable.
Official website here: www.impactcharitable.org
What is the revenue of Impact Charitable?
Impact Charitable's revenue in 2022 was $17,937,020.
Official website here: www.impactcharitable.org
Who are the executives of Impact Charitable and what are their salaries?
The average compensation at Impact Charitable during 2022 was $38,845. There are 6 employees and 5 volunteers at Impact Charitable.
Here are 7 key members and their salaries:
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- Compensation: $75,000
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- Compensation: $100,025
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Official website here: www.impactcharitable.org
Where can I find the form 990 for Impact Charitable?
Impact Charitable's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.impactcharitable.org
Learn more at the official website: www.impactcharitable.org
Mission Statement of Impact Charitable
Impact Charitable, a catalytic philanthropic organization, brings together philanthropists, community partners, foundations, financial institutions, social enterprises, and government entities to channel more financial resources, in various forms, to a larger population and diverse locations. The mission of this charitable entity is geared towards mobilizing catalytic philanthropists and fostering collaborations that facilitate the transfer of funds, employing innovative methods, to extend a helping hand to an extensive array of individuals and communities in need.
Impact Charitable continues to oversee the Left Behind Workers Fund, an initiative that provides emergency financial aid in the form of direct cash payments to undocumented individuals across Colorado. The primary objective of this fund is to enhance the financial security of these individuals, expedite their recovery from the economic repercussions of COVID-19, and create a safety net for those overlooked by our current social support systems. By addressing the financial needs of this marginalized community, Impact Charitable aims to contribute significantly to their overall well-being and empower them to rebuild their lives.
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Impact
October, 2024
Impact Charitable unites catalytic philanthropists with a diverse array of partners, including community organizations, foundations, financial institutions, social enterprises, and government entities. This collaborative approach aims to increase the flow of resources—ensuring that more money reaches more people in varied ways. One significant initiative is the Left Behind Workers Fund, which provides direct cash payments to undocumented individuals in Colorado, enhancing financial security and accelerating recovery from the impacts of COVID-19. This effort serves as a vital safety net for those overlooked by traditional social support systems, strengthening community resilience and supporting individuals during challenging times.
This information is meant to be a general summary of Impact Charitable. 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.
- Investment Income: $26,907
- Program Service Revenue: $89,579
- Gross Receipts: $18,462,134
Assets and Liabilities:
- Total Assets: $13,547,870
- Total Liabilities: $6,088,517
- Net Assets: $7,459,353
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INVESTMENT MGMT
Revenue
$35,800
PROJECT MGMT
Revenue
$24,945
HOUSING PROJECT
Revenue
$15,000
GI PILOT PROJECT
Revenue
$13,834
Organization Details
Founding Year
2014
Phone
(720) 317-6002Principal Officer
Rich Hoops
Main Address
1536 WYNKOOP STREET 223, DENVER, CO, 80202
Website
www.impactcharitable.orgNTEE Category
Code: T31 - Philanthropy
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