Overview
What is New Impact?
New Impact is a nonprofit organization based in Seattle, Washington. Their primary mission is to catalyze and scale innovation that positively impacts humanity by inspiring, enabling, and activating a community of tri-sector innovators from companies, nonprofits, and government agencies. They aim to accelerate impact by leveraging existing resources and aligning interests from the private, social, and public sectors, ultimately benefiting people and the planet. In 2021, New Impact conducted a project in partnership with the Schultz Family Foundation to explore equitable apprenticeships for BIPOC young adults in the U.S. The project aimed to identify solutions and opportunity areas to improve access to quality apprenticeships, focusing on expanding the availability of apprenticeships in more industries and employers. As a proposed solution, they identified a transferable pre-apprenticeship program powered by a two-sided platform connecting young adults with work experience and learning opportunities with employers looking to hire, thereby promoting economic mobility for more young people. With just over nine employees, New Impact continues to strive for positive change in the realm of tri-sector innovation.
Official website here: www.newimpact.care
What are the reviews and ratings of this charity?
Charity Navigator Rating: 50%, One-Star out of Four Stars
New Impact has received a rating of 50%, which indicates significant concerns regarding its accountability and financial practices. While the organization excels in having an independent board and strong policies regarding material diversion of assets and conflicts of interest, it struggles notably with transparency and financial ratios.
One major limitation identified is the lack of a whistleblower policy, which is critical for safeguarding against unethical practices. Additionally, the charity's failure to post its tax forms on its website and a concerning liabilities to assets ratio reflect potential financial instability. These elements contribute heavily to its low overall score, suggesting areas for improvement to enhance trust and accountability.
Despite some strong governance features, New Impact must address its transparency issues and financial management practices to foster greater confidence among donors and stakeholders. Efforts to improve these aspects could lead to a better rating and greater support for its mission in the future.
This AI summary has been generated from information found on Charity Navigator.
Is New Impact legitimate?
New Impact is a legitimate nonprofit organization registered as a 501(c)(3) entity. New 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $661,966
For more financial information, click here
Official website here: www.newimpact.care
What is the mission statement of New Impact?
New Impact's mission is to actively promote and expand innovation that positively impacts humanity. They achieve this by inspiring, enabling, and activating a community of innovators from various sectors, including companies, nonprofits, and government agencies. This community's innovations accelerate impact by leveraging existing resources and aligning interests from the private, social, and public sectors, ultimately benefiting both people and the planet. New Impact aims to make tri-sector innovation as widely accepted and practiced as design thinking, agile development, and human-centered design.
Official website here: www.newimpact.care
Who is the CEO of New Impact?
Jens Molbak is the Director & President of New Impact.
Official website here: www.newimpact.care
What is the revenue of New Impact?
New Impact's revenue in 2022 was $1,153,682.
Official website here: www.newimpact.care
Who are the executives of New Impact and what are their salaries?
The average compensation at New Impact during 2022 was $73,552. There are 9 employees at New Impact.
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $140,400
- Related: $0
- Other: $47
- Compensation: $121,071
- Related: $0
- Other: $686
- Compensation: $104,004
- Related: $0
- Other: $20
Official website here: www.newimpact.care
Where can I find the form 990 for New Impact?
New Impact's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.newimpact.care
Learn more at the official website: www.newimpact.care
Mission Statement of New Impact
New Impact, an organization with a passion for catalyzing and scaling innovation, works tirelessly to positively impact humanity. They strive to inspire, enable, and activate a community of innovators from various sectors, including companies, nonprofits, and government agencies. By leveraging existing resources and aligning interests from the private, social, and public sectors, New Impact's innovations aim to accelerate impact, providing benefits for people and the planet. Their ultimate goal is for tri-sector innovation to be as widely accepted and widely practiced as design thinking, agile development, and human-centered design.
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Impact
July, 2024
New Impact's impact lies in catalyzing and scaling innovation that positively impacts humanity. By inspiring, enabling, and activating a community of tri-sector innovators from companies, nonprofits, and government agencies, New Impact accelerates impact by leveraging existing resources and aligning interests from the private, social, and public sectors. Their focus on equitable apprenticeships for BIPOC young adults exemplifies their commitment to expanding economic mobility and creating opportunities for marginalized communities. Through projects like these, New Impact contributes to community improvement and aims to make tri-sector innovation as widely accepted and practiced as design thinking, agile development, and human-centered design.
This information is meant to be a general summary of New 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.
- Program Service Revenue: $407,250
- Gross Receipts: $1,153,682
Assets and Liabilities:
- Total Assets: $57,470
- Total Liabilities: $32,302
- Net Assets: $25,168
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EQUITABLE APPRENTICESH
Revenue
$135,000
YOUNG VETERANS CAREER
Revenue
$135,000
BLACK HOME BUYER READI
Revenue
$100,000
EMERGENCY RENTAL AID
Revenue
$18,750
OTHER PROGRAM REVENUE
Revenue
$18,500
Organization Details
Founding Year
2020
Phone
(425) 398-5103Principal Officer
Jens Molbak
Main Address
4111 E MADISON STREET 56, SEATTLE, WA, 98112
Website
www.newimpact.careNTEE Category
Code: S21 - Community improvement
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