Exponential Impact
- Assets
- $3.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 12
- Location
- Colorado Springs, CO
- Founding
- 04/2018
- Data as of
- 12/2021
- EIN
- 82-2707012
Organization Overview
Exponential Impact is located in Colorado Springs, CO. The organization was established in 2018. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Exponential Impact employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Exponential Impact 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, Exponential Impact generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 62.0% each year . All expenses for the organization totaled $872.0k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Exponential Impact has awarded 22 individual grants totaling $425,000. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO CONNECT ENTREPRENEURS WITH EDUCATIONAL RESOURCES, TRAINING, MENTORSHIP, ACCESS TO CAPITAL, AND A SHARED OPERATING SPACE IN THE COLORADO SPRINGS REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CONNECT ENTREPRENEURS WITH EDUCATIONAL RESOURCES, TRAINING, MENTORSHIP, ACCESS TO CAPITAL, AND A SHARED OPERATING SPACE IN THE COLORADO SPRINGS REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vance Brown President | OfficerTrustee | 1 | $0 |
Betsy Brown Secretary | OfficerTrustee | 1 | $0 |
Hannah Parsons Secretary | OfficerTrustee | 1 | $0 |
Kyle Hybl Director | Trustee | 1 | $0 |
Jeff Greene Director | Trustee | 1 | $0 |
Chris Jenkins Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $755,240 |
| All other contributions, gifts, grants, and similar amounts not included above | $217,446 |
| Noncash contributions included in lines 1a–1f | $90,364 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $972,686 |
| Total Program Service Revenue | $155,090 |
| Investment income | $2,195 |
| 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 | $1,129,971 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $425,000 |
| 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. | $105,146 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $127,809 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $21,385 |
| Payroll taxes | $17,835 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,606 |
| Fees for services: Accounting | $8,236 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $42,754 |
| Advertising and promotion | $47,895 |
| Office expenses | $6,629 |
| Information technology | $1,839 |
| Royalties | $0 |
| Occupancy | $7,350 |
| Travel | $12,617 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $780 |
| Interest | $2 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,042 |
| Insurance | $8,046 |
| All other expenses | $915 |
| Total functional expenses | $872,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,333,008 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $172,218 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,324,709 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $192,829 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,022,764 |
| Accounts payable and accrued expenses | $16,121 |
| 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 | $2,161,784 |
| Total liabilities | $2,177,905 |
| 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 | $844,859 |
| Total liabilities and net assets/fund balances | $3,022,764 |
Grants Awarded
Over the last fiscal year, Exponential Impact has awarded $425,000 in support to 22 organizations.
| Grant Recipient | Amount |
|---|---|
COFFEE AND TEA ZONE PURPOSE: General SUpport | $25,000 |
PRECISION INSURANCE SERVICES PURPOSE: General Support | $25,000 |
SONGBIRD SUPPLIES LLC PURPOSE: General Support | $25,000 |
CARLOS GONZALEZ INSURANCE PURPOSE: General Support | $25,000 |
NATIONAL DRIVER TRAINING PURPOSE: General Support | $25,000 |
TONG TONG KOREAN RESTAURANT PURPOSE: general support | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Exponential Impact has recieved totaling $139,513.
| Awarding Organization | Amount |
|---|---|
El Pomar Foundation Colorado Springs, CO PURPOSE: SURVIVE AND THRIVE 3.0 | $55,000 |
Christian Community Foundation Inc Colorado Springs, CO PURPOSE: GENERAL SUPPORT | $35,000 |
El Pomar Foundation Colorado Springs, CO PURPOSE: GENERAL OPERATING SUPPORT | $30,000 |
El Pomar Foundation Colorado Springs, CO PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |
El Pomar Foundation Colorado Springs, CO PURPOSE: GENERAL OPERATING SUPPORT | $2,500 |
El Pomar Foundation Colorado Springs, CO PURPOSE: 2021 NELP CONTRIBUTION | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tulsa Economic Development Corporation Tulsa, OK | $33,851,725 | $32,973,039 |
Raza Development Fund Inc Phoenix, AZ | $287,338,176 | $23,229,153 |
Dreamspring Albuquerque, NM | $203,163,761 | $25,298,598 |
Seedspot Phoenix, AZ | $567,792 | $1,178,540 |
Foundation For Black Entrepreneurship Denver, CO | $394,455 | $1,255,984 |
Custer County Foundation Inc Broken Bow, NE | $7,035,087 | $2,062,629 |
Ppep Microbusiness And Housing Development Corporation Tucson, AZ | $8,046,696 | $1,849,131 |
Northern Arizona Technology & Business Incubator Flagstaff, AZ | $421,992 | $963,553 |
Community Development Financial Institution Of The Tahono Odham Sells, AZ | $21,686,771 | $728,055 |
Exponential Impact Colorado Springs, CO | $3,022,764 | $1,129,971 |
Civico Denver, CO | $298,946 | $905,043 |
Pipeline Inc Kansas City, KS | $850,172 | $659,645 |