Impact For Equity Inc
- Assets
- $11.7m
- Revenue
- $5.2m
- Investments
- $0.0
- Employees
- 18
- Location
- Chicago, IL
- Founding
- 11/1970
- Data as of
- 12/2023
- EIN
- 36-2675852
Organization Overview
Impact For Equity Inc is located in Chicago, IL. The organization was established in 1970. According to its NTEE Classification (I83) the organization is classified as: Public Interest Law, under the broad grouping of Crime & Legal-Related and related organizations. As of 12/2023, Impact For Equity Inc employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Impact For Equity 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 12/2023, Impact For Equity Inc generated $5.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $3.2m during the year ending 12/2023. While expenses have increased by 5.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION OPERATES IN THE CHICAGO METROPOLITAN REGION AS A PUBLIC INTEREST LAW AND POLICY CENTER WORKING TO COMBAT SYSTEMATIC BARRIERS TO EQUITY AND TO FIGHT FOR RACIAL, ECONOMIC, AND SOCIAL JUSTICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSING/COMMUNITY DEVELOPMENT - IMPACT FOR EQUITY HAS BEEN DEEPLY COMMITTED TO HOUSING AND COMMUNITY DEVELOPMENT FOR OVER FIFTY YEARS. OUR LEGAL AND POLICY ADVOCACY FOCUSES ON REMOVING BARRIERS AND PROMOTING AUTHENTIC HOUSING CHOICES ACROSS THE CHICAGO REGION, INCLUDING FOR FAMILIES USING SUBSIDIZED HOUSING RESOURCES OR IN NEED OF AFFORDABLE HOUSING. WE ARE EXPANDING CHOICE AND ACCESS TO PUBLIC AND AFFORDABLE HOUSING AND PROMOTING NEIGHBORHOODS WITH THOSE RESOURCES. OUR HOUSING WORK INCLUDES A FOCUS ON PUBLIC HOUSING IN CHICAGO, A COUNTY-WIDE ECONOMIC MOBILITY PROGRAM IN CHICAGO AND COOK COUNTY, AND EFFORTS TO EXPAND AFFORDABLE HOUSING IN THE CHICAGO METROPOLITAN REGION.
CRIMINAL LEGAL SYSTEMS - OUR CRIMINAL LEGAL SYSTEMS PROGRAM SEEKS TO INCREASE PUBLIC SAFETY AND PROMOTE RACIAL JUSTICE. WE ARE WORKING TO ENACT SYSTEMIC POLICE REFORMS, INCLUDING BY STRENGTHENING THE POLICE ACCOUNTABILITY SYSTEM, PROMOTING COMMUNITY SAFETY, IMPROVING POLICE PRACTICES, REIMAGINING THE ROLES THAT POLICE DEPARTMENTS AND OTHER ENTITIES PLAY IN PRODUCING PUBLIC SAFETY, AND TRANSFORMING THE RELATIONSHIP BETWEEN THE POLICE DEPARTMENT AND THE COMMUNITIES IT SERVES. IN ALL OUR WORK, WE ARE COMMITTED TO ENSURING THAT THOSE MOST DIRECTLY AFFECTED BY THE REFORMS PLAY AN ACTIVE ROLE IN DEVELOPING THEM.
LEADERSHIP DEVELOPMENT - IMPACT FOR EQUITY HOSTS LAW AND POLICY SUMMER AND ACADEMIC-YEAR INTERNS AND EXTERNS, AS WELL AS RECENT LAW OR POLICY SCHOOL GRADUATES EACH YEAR THROUGH OUR INTERNSHIPS, EXTERNSHIPS, AND FELLOWSHIP PROGRAMS. THESE INDIVIDUALS HELP INFORM OUR WORK, SHAPE THE FUTURE OF LAW AND POLICY, AND DRIVE IMPACTFUL SOLUTIONS TO ADDRESS CRITICAL CHALLENGES ACROSS OUR TWO PROGRAM AREAS. MANY OF OUR INTERNS, FELLOWS, AND EXTERNS GO ON TO WORK IN PARTNER ORGANIZATIONS, GOVERNMENT, AND BEYOND, BUILDING ON A LEGACY OF IMPACTFUL ADVOCACY WORK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cara Hendrickson Executive Di | Officer | 40 | $190,000 |
Loren Jones Director | 40 | $105,068 | |
Julie Brown Director | 32 | $100,855 | |
Lucy Ascoli Director | Trustee | $0 | |
Myles Berman Director | Trustee | $0 | |
Joel Bookman Director | Trustee | $0 |
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 | $1,560,662 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,560,662 |
| Total Program Service Revenue | $0 |
| Investment income | $260,019 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,024,995 |
| Net Income from Fundraising Events | $81,560 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,171,436 |
| 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 | $1,502,146 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $70,933 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,092,023 |
| Advertising and promotion | $146 |
| Office expenses | $50,761 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $249,549 |
| Travel | $1,191 |
| 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 | $3,985 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,167,117 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,797,521 |
| Pledges and grants receivable | $493,525 |
| Accounts receivable, net | $0 |
| 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 | $5,146 |
| Net Land, buildings, and equipment | $23,623 |
| Investments—publicly traded securities | $8,871,353 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $464,117 |
| Total assets | $11,655,285 |
| Accounts payable and accrued expenses | $378,974 |
| Grants payable | $193,699 |
| 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 | $427,393 |
| Total liabilities | $1,000,066 |
| Net assets without donor restrictions | $9,514,395 |
| Net assets with donor restrictions | $1,140,824 |
| 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 | $11,655,285 |