Impact Seven Incorporated
- Assets
- $164.8m
- Revenue
- $22.0m
- Investments
- $0.0
- Employees
- 22
- Location
- Rice Lake, WI
- Founding
- 08/1996
- Data as of
- 12/2022
- EIN
- 39-1141037
Organization Overview
Impact Seven Incorporated is located in Rice Lake, WI. The organization was established in 1996. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Impact Seven Incorporated employed 22 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Impact Seven Incorporated 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, Impact Seven Incorporated generated $22.0m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.8% each year . All expenses for the organization totaled $10.5m during the year ending 12/2022. While expenses have increased by 5.0% 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.
Since 2022, Impact Seven Incorporated has awarded 59 individual grants totaling $1,694,790. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BUILDING CAPACITY FOR COMMUNITIES BY PROVIDING SERVICES AND DEVELOPMENT IN BUSINESS, HOUSING AND PROPERTY MANAGEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPACT SEVEN'S BUSINESS DEVELOPMENT PROVIDES FINANCIAL PRODUCTS, DEVELOPMENT SERVICES AND TECHNICAL ASSISTANCE FOR THE CREATION OR EXPANSION OF BUSINESS, COMMERCIAL REAL ESTATE AND HOUSING DEVELOPMENT ENTERPRISES.- $26,600,000 IN LOANS CLOSED- 19 LOANS CLOSED- 75 FTE JOBS CREATED BY BORROWERS- 329 FTE JOBS RETATINED BY BORROWERSIMPACT SEVEN PROVIDES SERVICES IN THE MANAGEMENT OF RENTAL HOUSING FOR ITS OWNED UNITS.- 1783 UNITS UNDER MANAGEMENT- 1563 AFFORDABLE UNITS UNDER MANAGEMENT- 707 UNITS SET ASIDE FOR PERSONS WHO ARE ELDERLY AND/OR HAVE DISABILITIESIMPACT SEVEN DEVELOPS AND INVESTS IN ITS OWN MULTIFAMILY RENTAL HOUSING AS A LONG TERM OWNER.- 942 UNITS OF AFFORDABLE HOUSING FINANCED FOR THIRD PARTY DEVELOPERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Gerber President/ceo | OfficerTrustee | 40 | $444,686 |
Michael Bebeau Chairman | OfficerTrustee | 1 | $0 |
Mary Patoka Vice Chairman | OfficerTrustee | 1 | $0 |
Mary Hubler Secretary | OfficerTrustee | 1 | $0 |
David Danielson Director | Trustee | 1 | $0 |
Earle Edwards Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Security Health Plan Health Insurance | 12/30/22 | $675,766 |
New Horizon Ventures Llc Architect Fees | 12/30/22 | $125,178 |
Brothers Business Interiors Llc Furniture Purchases | 12/30/22 | $106,458 |
Kottke Construction Roofing And Decking | 12/30/22 | $202,874 |
Integrity Insurance Company Insurance | 12/30/22 | $105,014 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $13,880,063 |
| Investment income | $136,686 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,956,097 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $21,975,718 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,700,000 |
| 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. | $625,938 |
| Compensation of current officers, directors, key employees. | $112,669 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,257,345 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $622,311 |
| Payroll taxes | $207,516 |
| Fees for services: Management | $40,646 |
| Fees for services: Legal | $36,460 |
| Fees for services: Accounting | $25,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $419,045 |
| Advertising and promotion | $33,432 |
| Office expenses | $155,752 |
| Information technology | $204,840 |
| Royalties | $0 |
| Occupancy | $608,280 |
| Travel | $112,098 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $36,618 |
| Interest | $1,030,161 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,112,920 |
| Insurance | $130,662 |
| All other expenses | $97 |
| Total functional expenses | $10,452,205 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,731,664 |
| Savings and temporary cash investments | $15,658,922 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,564,721 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $39,358,509 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $232,301 |
| Net Land, buildings, and equipment | $14,741,619 |
| Investments—publicly traded securities | $1,929,135 |
| Investments—other securities | $0 |
| Investments—program-related | $43,314,130 |
| Intangible assets | $0 |
| Other assets | $5,242,497 |
| Total assets | $164,773,498 |
| Accounts payable and accrued expenses | $16,746,880 |
| Grants payable | $0 |
| Deferred revenue | $538,325 |
| 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 | $35,524,488 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,138,732 |
| Total liabilities | $53,948,425 |
| Net assets without donor restrictions | $88,180,273 |
| Net assets with donor restrictions | $22,644,800 |
| 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 | $164,773,498 |
Grants Awarded
Over the last fiscal year, Impact Seven Incorporated has awarded $1,694,790 in support to 59 organizations.
| Grant Recipient | Amount |
|---|---|
ARTISTIC PLATING COMPANY PURPOSE: CAPITAL IMPROVEMENTS | $35,000 |
ALDER CREEK LLC PURPOSE: CAPITAL IMPROVEMENTS | $20,000 |
ASPEN ACRES ASSISTED LIVING LLC PURPOSE: PAY INCREASES | $15,000 |
ASPEN GROVE APARTMENTS LLC PURPOSE: COST OVERRUNS | $10,000 |
BAY CITY LOFTS LLC PURPOSE: AFFORDABLE HOUSING CONSTRUCTION - JOB CREATION | $10,000 |
BROADWAY-MONONA LLC PURPOSE: CAPITAL IMPROVEMENTS - AFFORDABLE HOUSING | $10,000 |