Impact Loan Fund Inc
- Assets
- $5.1m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Philadelphia, PA
- Founding
- 08/2003
- Data as of
- 06/2021
- EIN
- 23-3032463
Organization Overview
Impact Loan Fund Inc is located in Philadelphia, PA. The organization was established in 2003. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Impact Loan Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Impact Loan Fund Inc generated $1.0m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 52.8% each year . All expenses for the organization totaled $571.3k during the year ending 06/2021. While expenses have increased by 48.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CERTIFIED LOAN FUND TO ASSIST SMALL BUSINESS FIRMS TO IMPROVE ECONOMIC CONDITIONS IN EASTERN PHILADELPHIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CERTIFIED LOAN FUND TO ASSIST SMALL BUSINESS FIRMS TO IMPROVE ECONOMIC CONDITIONS IN EASTERN PHILADELPHIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey O'donnel President | OfficerTrustee | 2 | $0 |
Sergio Giraldo Board Member | Trustee | 2 | $0 |
Jack Hubbert Board Member | Trustee | 2 | $0 |
David Langlieb Board Member | Trustee | 2 | $0 |
Matthew Pappajohn Board Member | Trustee | 2 | $0 |
Maria Sourbeer Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $125,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $677,446 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $802,446 |
| Total Program Service Revenue | $203,154 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,005,600 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $275,693 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,085 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,201 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,864 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $571,303 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $892,309 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $50,000 |
| Accounts receivable, net | $2,814 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,145,853 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,090,976 |
| Accounts payable and accrued expenses | $6,486 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $574,994 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,365,000 |
| Total liabilities | $1,946,480 |
| Net assets without donor restrictions | $3,144,496 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,090,976 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Impact Loan Fund Inc has recieved totaling $327,055.
| Awarding Organization | Amount |
|---|---|
Community First Fund Lancaster, PA PURPOSE: ECONOMIC DEVELOPMENT | $180,000 |
Pennsylvania Microenterprise Coalition Philadelphia, PA PURPOSE: LOAN AND DEBT RELIEF | $147,055 |
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International Swaps And Derivatives Association Inc New York, NY | $118,665,756 | $65,806,525 |
Association Of National Advertisers Inc New York, NY | $38,717,598 | $50,547,394 |
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Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |