Overview
What is Exponential Impact?
Exponential Impact is a vibrant nonprofit organization situated in Colorado Springs, Colorado. Their primary mission is to empower local entrepreneurs by providing them with essential educational resources, training opportunities, mentorship, access to capital, and a shared workspace within the Colorado Springs community. With a team of 13 dedicated individuals, Exponential Impact strives to create a supportive environment that fosters the growth and success of budding entrepreneurs.
Official website here: www.exponentialimpact.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 73%, earning it a Two-Star out of Four Star rating.
Exponential Impact has received a Two-Star rating from Charity Navigator, which indicates some concerns in their accountability and finance practices despite a solid program expense ratio of 100%. The organization demonstrates strong governance with a fully independent board and no material diversion of assets, showcasing a commitment to organizational integrity. Their financial management appears stable, as indicated by a favorable liabilities to assets ratio.
However, the organization lacks critical policies, notably a whistleblower policy and a document retention and destruction policy, which are essential for transparency and accountability. This deficiency may raise concerns among donors about the organization's internal controls. While they have effectively managed program expenses, addressing these governance shortcomings could enhance their overall rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Exponential Impact legitimate?
Exponential Impact is a legitimate nonprofit organization registered as a 501(c)(3) entity. Exponential Impact 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: $91,543
Professional Fundraising Fees: $0
Other Salaries and Wages: $187,445
For more financial information, click here
Official website here: www.exponentialimpact.com
What is the mission statement of Exponential Impact?
Exponential Impact's mission is centered around linking entrepreneurs with essential resources, such as educational materials, training programs, mentorship opportunities, and access to capital. Additionally, they provide a shared operating space to foster collaboration and growth. The organization's goal is to support and empower entrepreneurs, aiming to help them succeed in their ventures. Exponential Impact offers a comprehensive platform, providing necessary tools and guidance for entrepreneurs to thrive and grow their businesses.
Official website here: www.exponentialimpact.com
Who is the CEO of Exponential Impact?
Vance Brown is the Executive Director (Term 6/22) of Exponential Impact.
Official website here: www.exponentialimpact.com
What is the revenue of Exponential Impact?
Exponential Impact's revenue in 2022 was $3,043,599.
Official website here: www.exponentialimpact.com
Who are the executives of Exponential Impact and what are their salaries?
The average compensation at Exponential Impact during 2022 was $21,461. There are 13 employees and 75 volunteers at Exponential Impact.
Here are 11 key members and their salaries:
- Compensation: $53,333
- Related: $0
- Other: $0
- Compensation: $34,981
- Related: $0
- Other: $3,229
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
Official website here: www.exponentialimpact.com
Where can I find the form 990 for Exponential Impact?
Exponential Impact's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.exponentialimpact.com
Learn more at the official website: www.exponentialimpact.com
Mission Statement of Exponential Impact
Exponential Impact, a nonprofit organization, is committed to bridging the gap between entrepreneurs and essential resources. Their mission is to offer educational materials, training programs, mentorship opportunities, and access to financial backing, all within a shared workspace, in the entrepreneurial landscape of Colorado Springs. By connecting entrepreneurs with these vital resources, Exponential Impact aims to foster a thriving and supportive community for innovators, enabling them to grow and succeed in their respective ventures.
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Impact
July, 2024
Exponential Impact plays a vital role in the Colorado Springs region by connecting entrepreneurs with educational resources, training, mentorship, access to capital, and a shared operating space. This impactful initiative directly contributes to the growth and development of the local entrepreneurial ecosystem, fostering innovation and economic advancement within the community.
This information is meant to be a general summary of Exponential Impact. 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: $5,445
- Program Service Revenue: $235
- Gross Receipts: $3,043,599
Assets and Liabilities:
- Total Assets: $3,778,747
- Total Liabilities: $1,870,215
- Net Assets: $1,908,532
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICES
Revenue
$235
Organization Details
Founding Year
2017
Phone
(719) 660-8888Principal Officer
Vance Brown
Main Address
3650 N Nevada Ave, Colorado Springs, CO, 80907
Website
www.exponentialimpact.comNTEE Category
Code: S43 - Community improvement
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