Impac Fund Inc
- Assets
- $287.7k
- Revenue
- $230.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Coral Gables, FL
- Founding
- 10/2017
- Data as of
- 12/2021
- EIN
- 82-1512029
Organization Overview
Impac Fund Inc is located in Coral Gables, FL. The organization was established in 2017. According to its NTEE Classification (P84) the organization is classified as: Ethnic & Immigrant Centers, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Impac 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 12/2021, Impac Fund Inc generated $230.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (27.1%) each year. All expenses for the organization totaled $189.0k during the year ending 12/2021. 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
THE IMPAC FUND FOCUSES ON FAMILY UNITY AND WORKS TOWARDS PROTECTING THE RIGHTS OF IMMIGRANTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE IMPAC FUND, INC. SUPPORTS OTHER 501(C)(3) ORGANIZATIONS SUCH AS THE CHICAGO COMMUNITY FOUNDATION. THESE OTHER 501(C)(3) ORGANIZATIONS PROMOTE PRACTICAL AND COMPREHENSIVE IMMIGRATION REFORM THAT BENEFIT THE PEOPLE AND THE ECONOMY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Miguel Fernandez President | OfficerTrustee | 1 | $0 |
Cesar Alvarez Treasurer | OfficerTrustee | 1 | $0 |
David Lawrence Jr Secretary | OfficerTrustee | 1 | $0 |
Matthew Grosack Director | Trustee | 0.2 | $0 |
Paul Cejas Director | Trustee | 0.2 | $0 |
Ana Navarro-Cardenas Director | Trustee | 0.2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $64,623 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $165,709 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $230,332 |
| Total Program Service Revenue | $0 |
| Investment income | $10 |
| 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 | $230,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $181,133 |
| 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 | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| All other expenses | $7,868 |
| Total functional expenses | $189,001 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,074 |
| Savings and temporary cash investments | $21,625 |
| Pledges and grants receivable | $0 |
| 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 | $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 | $287,699 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $287,699 |
| Total liabilities and net assets/fund balances | $287,699 |
Grants Awarded
Over the last fiscal year, Impac Fund Inc has awarded $546,720 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Miami, FL PURPOSE: SEE ATTACHEDTO PROVIDE LEGAL SUPPORT FOR POOR IMMIGRANTS TO HELP THEM UNDERSTAND THEIR RIGHTS AND ASSIST THEM IN EXERCISING THOSE RIGHTS UNDER FEDERAL IMMIGRATION LAW. | $250,000 |
Miami, FL PURPOSE: SEE ATTACHEDTO PROVIDE LEGAL SUPPORT FOR POOR IMMIGRANTS TO HELP THEM UNDERSTAND THEIR RIGHTS AND ASSIST THEM IN EXERCISING THOSE RIGHTS UNDER FEDERAL IMMIGRATION LAW. | $200,000 |
Chicago, IL PURPOSE: SEE ATTACHEDTO PROMOTE PRACTICAL AND COMPREHENSIVE IMMIGRATION REFORM THAT WILL BENEFIT THE PEOPLE AND ECONOMY OF ILLINOIS | $68,720 |
Washington, DC PURPOSE: SEE ATTACHEDTO ADVOCATE FOR THE VALUE OF IMMIGRANTS AND IMMIGRATION TO THE NATION, FROM A DIVERSITY OF PERSPECTIVES AND SUPPORT REPLACING OUR BROKEN IMMIGRATION SYSTEM WITH COMMONSENSE SOLUTIONS. | $28,000 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Impac Fund Inc has recieved totaling $23,255.
| Awarding Organization | Amount |
|---|---|
Century Homebuilders Foundation Incorporated Coral Gables, FL PURPOSE: GENERAL SUPPORT | $10,000 |
Jewish Communal Fund New York, NY PURPOSE: GENERAL SUPPORT | $7,500 |
Medina Family Foundation Inc Miami, FL PURPOSE: SUPPORT CHARITABLE ACTIVITIES | $5,000 |
Spencer Foundation Chicago, IL PURPOSE: 2021 GENERAL SUPPORT | $750 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Redlands Christian Migrant Association Inc Immokalee, FL | $36,761,444 | $78,400,640 |
Asian Americans Advancing Justice Atlanta Inc Norcross, GA | $10,786,790 | $12,514,597 |
Latin American Association Inc Atlanta, GA | $12,327,144 | $4,455,761 |
Caridad Center Inc Boynton Beach, FL | $10,547,629 | $6,073,314 |
Levite Jewish Community Center Birmingham, AL | $3,089,514 | $6,239,391 |
New American Pathways Inc Atlanta, GA | $3,531,610 | $5,662,832 |
Ser Familia Inc Kennesaw, GA | $848,486 | $3,818,877 |
Welcoming America Inc Atlanta, GA | $3,862,053 | $4,483,261 |
Collat Jewish Family Services Birmingham, AL | $1,001,646 | $1,619,749 |
El Sol Jupiters Neighborhood Resource Center Inc Jupiter, FL | $1,624,555 | $1,486,745 |
Ashakiran Inc Huntsville, AL | $1,341,048 | $1,487,096 |
Raksha Inc Atlanta, GA | $1,126,798 | $1,494,980 |