Overview
What is Impact Capital?
Impact Capital is a community development financial institution situated in Seattle, Washington. Their primary mission is to extend strategic loans to various organizations, tribal entities, and housing authorities, fostering community development. This includes the creation of affordable housing, art and cultural centers, community facilities, and vibrant commercial districts. By offering loans for property acquisition, predevelopment expenses, or bridging permanent capital, Impact Capital targets transactions that typically exceed the risk profiles of traditional bank lenders. Their lending activities serve as a catalyst for new development, attracting both public and private permanent financing. In 2022, they closed $12,136,703 in loans, contributing to the betterment of underserved communities by building equitable living spaces and providing access to essential services. Impact Capital employs a small team of 4 individuals in their operations.
Official website here: www.impactcapital.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
Impact Capital has received an overall score of 81%, indicating a solid performance in accountability and finance, which is critical for potential donors assessing the organization's transparency and efficiency. The rating is based solely on the Accountability & Finance score, where the organization performed admirably, achieving full points in several governance categories, including having a majority of independent board members and robust financial oversight practices.
The nonprofit demonstrates strong financial management, with a program expense ratio of 73.65%, indicating that a significant portion of its expenses are directed towards its programs. Furthermore, it has implemented several key policies such as conflict of interest and whistleblower policies, contributing to its high score in accountability metrics. However, a key area of concern is the liabilities to assets ratio, which scored zero out of fifteen, suggesting potential financial vulnerabilities that may need to be addressed.
While the executive compensation details show salaries for leadership positions, they remain within reasonable limits compared to industry standards, reflecting a commitment to maintaining equitable pay structures. Overall, Impact Capital appears well-managed and dedicated to its mission, but stakeholders may want to monitor its financial health closely due to the noted liabilities issue.
This AI summary has been generated from information found on Charity Navigator.
Is Impact Capital legitimate?
Impact Capital is a legitimate nonprofit organization registered as a 501(c)(3) entity. Impact Capital 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: $391,315
Professional Fundraising Fees: $7,090
Other Salaries and Wages: $9,277
For more financial information, click here
Official website here: www.impactcapital.org
What is the mission statement of Impact Capital?
Impact Capital, functioning as a community development financial institution, strategically lends funds to organizations, tribal entities, and housing authorities with the aim of fostering community development. This includes the development of affordable housing, art and cultural centers, community facilities, and vibrant commercial districts. Through these initiatives, Impact Capital plays a crucial role in transforming distressed communities and neighborhoods into healthy, desirable places where individuals can live, work, conduct business, and raise families.
Official website here: www.impactcapital.org
Who is the CEO of Impact Capital?
Joel Millar is the Executive Director of Impact Capital.
Official website here: www.impactcapital.org
What is the revenue of Impact Capital?
Impact Capital's revenue in 2022 was $961,614.
Official website here: www.impactcapital.org
Who are the executives of Impact Capital and what are their salaries?
The average compensation at Impact Capital during 2022 was $100,148. There are 4 employees at Impact Capital.
Here are 11 key members and their salaries:
- Compensation: $147,000
- Related: $0
- Other: $4,465
- Compensation: $126,303
- Related: $0
- Other: $4,615
- Compensation: $105,759
- Related: $0
- Other: $3,173
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- 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.impactcapital.org
Where can I find the form 990 for Impact Capital?
Impact Capital's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.impactcapital.org
Learn more at the official website: www.impactcapital.org
Mission Statement of Impact Capital
Impact Capital, as a community development financial institution, dedicates its mission to making strategic loans to various organizations, tribal entities, and housing authorities. The primary goal is to stimulate community development, particularly in the areas of affordable housing, art and cultural centers, community facilities, and vibrant commercial districts. By providing financial assistance, Impact Capital aims to transform distressed communities and neighborhoods into healthier ones, creating places that are attractive for living, working, conducting business, and raising families. This work ultimately contributes to revitalizing communities, thereby improving the quality of life for its inhabitants.
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Impact
July, 2024
Impact Capital's impact can be seen in the transformation of distressed communities and neighborhoods into healthy, vibrant places to live, work, do business, and raise families. By providing strategic loans to organizations, tribal entities, and housing authorities, Impact Capital spurs community development, including the creation of affordable housing, art and cultural centers, community facilities, and vibrant commercial districts. Their lending activities support the development of clean, safe affordable housing and increase access to essential services such as parks, schools, and commercial corridors for low and moderate-income individuals. In 2022 alone, Impact Capital closed $12,136,703 in loans, contributing significantly to building equitable communities and fostering positive social change.
This information is meant to be a general summary of Impact Capital. 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: $14,754
- Program Service Revenue: $938,041
- Gross Receipts: $961,614
Assets and Liabilities:
- Total Assets: $22,764,384
- Total Liabilities: $17,652,044
- Net Assets: $5,112,340
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$822,812
LOAN FEES
Revenue
$115,229
Organization Details
Founding Year
1993
Phone
(206) 587-3200Principal Officer
Joel Millar
Main Address
701 5th Ave Suite 5500, Seattle, WA, 98104
Website
www.impactcapital.orgNTEE Category
Code: W60 - Public benefit
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