Impetus Inc

The information for Impetus Inc is as of the organization's most recent filing in December '21. This organization is located in Louisville, KY. It has been in existence for 3 years, following its founding in 2018.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

Impetus Inc's NTEE code is S20. The "S" tells us that the organization is classified along with Community Improvement & Capacity Building. The "20" tells us that the organization focuses on Community & Neighborhood Development. The NTEE describes organizations in this category as those that aim to strengthen, unify, and build the economic, cultural, educational, and social services of an urban community or neighborhood. Impetus Inc is governed by section 4 of the Internal Revenue Code, which includes Civic Leagues, Social Welfare Organizations, and Local Associations of Employees. The organization's mission is to creatively solve pressing social and economic issues in the Louisville, Kentucky area.

Program Areas

The organization aims to create long-term and sustainable impact through its economic, public safety, and education initiatives.

Board Governance

Impetus Inc, a non-profit organization, appears to be well-governed based on the provided information. The organization has a total of 17 voting members, all of whom are independent, indicating a diverse and unbiased decision-making process. The absence of potential conflicts of interest further enhances the organization's credibility and ensures that decisions are made solely in the best interest of the organization and its mission. The fact that Impetus Inc has not delegated management to an outside firm suggests that the organization maintains control over its operations and decision-making processes. This allows for greater transparency and accountability within the organization. Additionally, the documentation of board and committee meetings indicates a commitment to transparency and open communication among members. Impetus Inc demonstrates a strong commitment to ethical practices with the presence of a conflict of interest policy, which requires disclosure of any potential conflicts. This policy ensures that board members act in the best interest of the organization and avoids any personal gain at the expense of the organization's mission. Furthermore, the organization's adherence to written whistleblower, document retention, and disclosure policies indicates a commitment to maintaining high ethical standards and accountability. These policies promote a culture of transparency and ensure that any wrongdoing or unethical behavior can be reported and addressed promptly. While the organization does not substantiate and review leadership and officer's salaries, the requirement of providing copies of the 990 to the board prior to filing demonstrates a commitment to financial transparency. This allows board members to review and assess the organization's financial health and ensure that resources are being allocated appropriately. Overall, based on the information provided, Impetus Inc appears to be well-governed, with a strong emphasis on transparency, accountability, and ethical practices.

Organization Growth

Based on the provided data, it can be concluded that the nonprofit organization Impetus Inc has experienced growth over the given time period. The total revenue increased from $134.0K in 2019 to $291.6K in 2021, indicating an upward trend in the organization's financial resources. However, other factors such as contributions and grants received, program service revenue, total expenses, and total volunteers remained the same over this time period, suggesting that there may not have been significant growth in these areas.