Common Impact Inc
- Assets
- $4.1m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 35
- Location
- Brooklyn, NY
- Founding
- 07/2007
- Data as of
- 12/2022
- EIN
- 30-0440394
Organization Overview
Common Impact Inc is located in Brooklyn, NY. The organization was established in 2007. According to its NTEE Classification (Z99) the organization is classified as: Unknown, under the broad grouping of Unknown and related organizations. As of 12/2022, Common Impact Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Common Impact 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 12/2022, Common Impact Inc generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.7% each year . All expenses for the organization totaled $3.6m during the year ending 12/2022. While expenses have increased by 23.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
COMMON IMPACT CATALYZES A NEW, CONNECTED ECONOMY BY ALIGNING BUSINESS AND SOCIAL PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SKILLS-BASED PROGRAM DESIGN AND MANAGEMENT: COMMON IMPACT DESIGNS, BUILDS AND SCALES INSTITUTIONAL SKILLS-BASED VOLUNTEER PROGRAMS, BY WORKING WITH COMPANIES, PUBLIC SECTOR AGENCIES AND NONPROFITS TO DESIGN THE PRO BONO PROGRAMS THAT MEET THEIR BUSINESS AND SOCIAL IMPACT GOALS.
EDUCATION AND TRAINING: COMMON IMPACT PROVIDES EDUCATION AND TRAINING SERVICES TO SUPPORT ORGANIZATIONS ACROSS ALL SECTORS TO MAKE SKILLS-BASED VOLUNTEERISM A MORE PROLIFIC AND ONGOING RESOURCE FOR BUILDING SOCIAL SECTOR CAPACITY. THIS IS DONE THROUGH RESEARCH,THOUGHT LEADERSHIP AND DEFINED TRAINING PROGRAMS AT NONPROFITS, SOCIAL ENTERPRISES, GOVERNMENT AGENCIES AND COMPANIES.
COMMON IMPACT'S SKILLS FOR CITIES SIGNATURE BIENNIAL DAY OF SERVICE EVENTS BRING TOGETHER SOCIAL SECTOR LEADERS AND CROSS-COMPANY TEAMS OF SKILLS-BASED VOLUNTEERS TO GENERATE SOLUTIONS TO HELP NONPROFITS DO MORE GOOD IN THEIR COMMUNITIES. OUR SPRING 2022 SKILLS FOR CITIES EVENT CELEBRATED NATIONAL VOLUNTEER WEEK BY BRINGING THE POWER OF PRO BONO TO NORTH CAROLINA BY SERVING NONPROFIT ORGANIZATIONS THAT PROVIDE ESSENTIAL SERVICES TO COMMUNITIES AND NEIGHBORS ACROSS THE STATE. COMMON IMPACT BROUGHT TOGETHER EXPERTS FROM ACROSS SECTORS FOR A DAY OF SKILLS-BASED FLASH CONSULTING, WHERE CORPORATE VOLUNTEERS WORKED IN CROSS-COMPANY TEAMS ON MARKETING, FINANCE, STRATEGY, AND OPERATIONS CHALLENGES. IN THE FALL OF 2022, COMMON IMPACT'S SIGNATURE SKILLS FOR CITIES EVENT WAS EXCLUSIVELY DEDICATED TO BUILDING THE CAPACITY OF NONPROFIT ORGANIZATIONS THAT ARE WORKING TO ADVANCE RACIAL EQUITY AND CLIMATE JUSTICE IN OUR COMMUNITIES. THIS DAY-LONG EVENT CONVENED EXPERTS FROM MULTIPLE COMPANIES TO USE THEIR TALENTS AS A FORCE FOR GOOD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allen Carney President | OfficerTrustee | 1 | $0 |
Jihye Gyde Board Vice Chair | OfficerTrustee | 1 | $0 |
Kevin Cavanaugh Secretary | OfficerTrustee | 1 | $0 |
Anne Ames Director | Trustee | 1 | $0 |
Lauren Banks Director | Trustee | 1 | $0 |
Cheryl Call Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
On Ramps Executive Search Services | 12/30/22 | $113,439 |
Koya Partners Executive Search And Strategic Advising | 12/30/22 | $105,839 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $171,964 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $171,964 |
| Total Program Service Revenue | $3,604,191 |
| Investment income | $4,455 |
| 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 | $3,780,610 |
| 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. | $440,193 |
| Compensation of current officers, directors, key employees. | $240,219 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,693,321 |
| Pension plan accruals and contributions | $13,692 |
| Other employee benefits | $223,105 |
| Payroll taxes | $176,974 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $110,921 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $484,279 |
| Advertising and promotion | $72,735 |
| Office expenses | $10,998 |
| Information technology | $83,988 |
| Royalties | $0 |
| Occupancy | $173,028 |
| Travel | $19,945 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,270 |
| Interest | $4,062 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,439 |
| Insurance | $1,481 |
| All other expenses | $0 |
| Total functional expenses | $3,597,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,260,612 |
| Savings and temporary cash investments | $2,517,596 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $233,310 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $42,619 |
| Net Land, buildings, and equipment | $26,689 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $30,825 |
| Total assets | $4,111,651 |
| Accounts payable and accrued expenses | $99,415 |
| Grants payable | $0 |
| Deferred revenue | $1,037,378 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $147,378 |
| Total liabilities | $1,284,171 |
| Net assets without donor restrictions | $2,804,480 |
| Net assets with donor restrictions | $23,000 |
| 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 | $4,111,651 |