Social Impact Commons Inc
- Assets
- $1.0m
- Revenue
- $979.8k
- Investments
- $0.0
- Employees
- 3
- Location
- Philadelphia, PA
- Founding
- Data as of
- 06/2022
- EIN
- 35-2599700
Organization Overview
Social Impact Commons Inc is located in Philadelphia, PA. As of 06/2022, Social Impact Commons Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Social Impact Commons 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 06/2022, Social Impact Commons Inc generated $979.8k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 26.5% each year . All expenses for the organization totaled $759.0k during the year ending 06/2022. While expenses have increased by 18.9% per year over the past 3 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
SOCIAL IMPACT COMMONS, INC IS A NON-PROFIT, CHARITABLE ORGANIZATION DEDICATED TO PROVIDING COMMUNITIES WITH STRUCTURES AND SYSTEMS FOR EQUITABLE ACCESS TO THE RESOURCES THEY NEED TO BUILD A JUST AND FLOURISHING SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING COMMUNITIES WITH STRUCTURES AND SYSTEMS FOR EQUITABLE ACCESS TO BUILD A JUST AND FLOURISHING SOCIETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nadya Shmavonian President | OfficerTrustee | 2 | $0 |
Neville Vakharia Treasurer | OfficerTrustee | 2 | $0 |
June O'neill Secretary | OfficerTrustee | 2 | $0 |
Eileen Heisman Vice President | OfficerTrustee | 2 | $0 |
Thaddeus Squire Chief Commons Steward | Officer | 40 | $175,276 |
Asta Petkeviciute Chief Financial Steward | Officer | 40 | $158,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $41,812 |
| All other contributions, gifts, grants, and similar amounts not included above | $300,100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $341,912 |
| Total Program Service Revenue | $637,345 |
| 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 | $979,779 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $93,750 |
| 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. | $334,026 |
| Compensation of current officers, directors, key employees. | $51,127 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $117,808 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $37,250 |
| Payroll taxes | $34,544 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,140 |
| Fees for services: Accounting | $51,838 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,811 |
| Advertising and promotion | $2,887 |
| Office expenses | $39,269 |
| Information technology | $1,122 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $539 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,097 |
| All other expenses | $7,947 |
| Total functional expenses | $759,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $520,271 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $480,332 |
| 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 | $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 | $1,000,603 |
| Accounts payable and accrued expenses | $9,641 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,641 |
| Net assets without donor restrictions | $840,962 |
| Net assets with donor restrictions | $150,000 |
| 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 | $1,000,603 |
Grants Awarded
Over the last fiscal year, Social Impact Commons Inc has awarded $82,500 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
THEATRE BAY AREA PURPOSE: RELIEF ASSISTANCE | $12,000 |
EASTSIDE ARTS ALLIANCE PURPOSE: RELIEF ASSISTANCE | $12,000 |
CULTURAL EQUITY REALTY TRUST PURPOSE: RELIEF ASSISTANCE | $46,500 |
LOCAL COLOR PURPOSE: RELIEF ASSISTANCE | $12,000 |