Overview
What is Commonwealth Impact Foundation Inc?
Commonwealth Impact Foundation Inc is a nonprofit organization situated in Indianapolis, Indiana. Their primary focus is on building an impact investing network, particularly in 15 cities, to fund ventures that promote community renewal. This includes sponsoring private offerings for companies addressing significant global issues, such as the wealth gap between white and black families in America, and ensuring access to quality healthcare and mental health services. Commonwealth harnesses entrepreneurial talent to create opportunities that foster prosperity for all, acknowledging the simultaneous presence of both unprecedented prosperity and substantial challenges in the world.
Official website here: www.commonwealthimpact.org
What are the reviews and ratings of this charity?
The Commonwealth Impact Foundation Inc. is currently not rated by Charity Navigator. This absence of a rating indicates that the organization has not yet been evaluated rather than a reflection of its positive or negative performance. Ratings on Charity Navigator are based on several beacon scores, which the Commonwealth Impact Foundation has not yet fulfilled due to limited years of electronic IRS Form 990 data.
The organization requires additional fiscal years of e-filed IRS data to be eligible for assessment, particularly in the Accountability & Finance and Impact & Measurement areas. Despite lacking a formal rating, key data such as total revenue, expenses, and salaries of its principal team have been transparently reported. Notably, key personnel, including Jay Hein and other board members, have reported salaries of $0, indicating a potential focus on financial prudence.
Given its status as an independent foundation supported by the public or governmental units, the foundation seems committed to its mission, though specifics about its impact and strategic adaptability were not provided. User reviews from GreatNonprofits are not available to offer further insights into the public perception or individual experiences with the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Commonwealth Impact Foundation Inc legitimate?
Commonwealth Impact Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Commonwealth Impact Foundation Inc 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: $50,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.commonwealthimpact.org
What is the mission statement of Commonwealth Impact Foundation Inc?
The Commonwealth Impact Foundation Inc's mission is to utilize entrepreneurial talent to foster opportunities for widespread prosperity. Recognizing the world's current prosperity and challenges, the foundation harnesses the same entrepreneurial spirit that generates wealth to create more opportunities for everyone to thrive. The organization is actively growing an impact investing network in 15 cities, funding venture philanthropy and VC/PE deals focused on community renewal. Additionally, Commonwealth sponsors select private offerings for companies that are advancing market solutions to global issues, such as the wealth gap between white and black families in America, as well as access to quality healthcare and mental health services.
Official website here: www.commonwealthimpact.org
Who is the CEO of Commonwealth Impact Foundation Inc?
Jay Hein is the Managing Director of Commonwealth Impact Foundation Inc.
Official website here: www.commonwealthimpact.org
What is the revenue of Commonwealth Impact Foundation Inc?
Commonwealth Impact Foundation Inc's revenue in 2022 was $11,685,333.
Official website here: www.commonwealthimpact.org
Who are the executives of Commonwealth Impact Foundation Inc and what are their salaries?
There 4 volunteers at Commonwealth Impact Foundation Inc.
Here are 4 key members and their salaries:
- Compensation: $25,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $25,000
- Related: $0
- Other: $0
Official website here: www.commonwealthimpact.org
Where can I find the form 990 for Commonwealth Impact Foundation Inc?
Commonwealth Impact Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.commonwealthimpact.org
Learn more at the official website: www.commonwealthimpact.org
Mission Statement of Commonwealth Impact Foundation Inc
Commonwealth Impact Foundation Inc harnesses entrepreneurial talent to create opportunities for everyone to flourish. Recognizing the dual presence of unprecedented prosperity and significant challenges worldwide, this organization leverages the same entrepreneurial skills that generate wealth to create more opportunities for collective growth. The foundation's mission is to foster an impact investing network in 15 cities, aiming to fund venture philanthropy and private equity/venture capital deals focused on community renewal. Additionally, Commonwealth Impact Foundation Inc sponsors select private offerings for companies advancing market solutions to some of the world's most pressing issues, such as the wealth gap between white and black families in America and the lack of access to quality healthcare and mental health services.
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Impact
July, 2024
Commonwealth Impact Foundation Inc harnesses entrepreneurial talent to create more opportunities for everyone to flourish. Through its CW City Fund, Commonwealth is growing an impact investing network in 15 cities to fund venture philanthropy and VC/PE deals aimed at community renewal. Additionally, Commonwealth sponsors select private offerings for companies advancing market solutions to the world's biggest problems, including addressing the wealth gap between white families and black families in America, and improving access to quality healthcare and mental health services. In essence, Commonwealth Impact Foundation Inc is working towards fostering community improvement and creating pathways for shared prosperity through strategic investments and support for impactful ventures.
This information is meant to be a general summary of Commonwealth Impact Foundation Inc. 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: $64,682
- Gross Receipts: $11,696,647
Assets and Liabilities:
- Total Assets: $16,611,239
- Total Liabilities: $1,022,464
- Net Assets: $15,588,775
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Organization Details
Founding Year
2020
Phone
(317) 472-2020Principal Officer
Jay Hein
Main Address
PO BOX 301076, INDIANAPOLIS, IN, 46230
Website
www.commonwealthimpact.orgNTEE Category
Code: S31 - Community improvement
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