Impact Ventures Accelerator
- Assets
- $1.4m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 8
- Location
- Dallas, TX
- Founding
- Data as of
- 12/2023
- EIN
- 83-0699171
Organization Overview
Impact Ventures Accelerator is located in Dallas, TX. According to its NTEE Classification (B90) the organization is classified as: Educational Services, under the broad grouping of Education and related organizations. As of 12/2023, Impact Ventures Accelerator employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Impact Ventures Accelerator 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 Ventures Accelerator generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 55.0% each year . All expenses for the organization totaled $1.1m during the year ending 12/2023. 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
TO EMPOWER TALENTED, YET UNDER-ESTIMATED WOMEN AND COMMUNITIES OF COLOR TO BUILD GENERATIONAL WEALTH THROUGH INCLUSIVE ENTREPRENEURSHIP, COMMUNITY WEALTH BUILDING, AND INTEGRATED CAPITAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2023 WAS A YEAR OF CAPACITY BUILDING AND PROGRAM REALIGNMENT. WE SCALED BACK ON OUR NORMAL PROGRAM CADENCE TO FOCUS ON LAUNCHING 2 NEW INITIATIVES. WE HOSTED FOCUS GROUP SESSIONS WITH INDUSTRY EXPERTS TO BETTER INFORM OUR NEW OFFERINGS. WE SUCCESSFULLY COMPLETED OUR FIRST INCLUSIVE CAPITAL SUMMIT WITH OVER 235 ATTENDEES. WE HOSTED TWO TRIBE TALK EVENTS AND OUR VERY FIRST MENTOR APPRECIATION BREAKFAST. OUR BIG FOCUS FOR THE YEAR WAS COMPLETING OUR SALESFORCE DATA MANAGEMENT STRATEGY WHICH WOULD ALLOW THE ORGANIZATION TO EFFECTIVELY UPDATE, MANAGE, AND REPORT OUR DATA AND METRICS TO ALL OF OUR STAKEHOLDERS. WE ALSO MOVED INTO A NEW OFFICE SPACE DESIGNED TO BE A RESOURCE FOR OUR CLIENTS AS A WORK AND GATHERING SPACE TO BUILD COMMUNITY AND GET ACCESS TO MORE RESOURCES. THIS ALLOWED US TO SUPPORT 47 ALUMNI CLIENTS WITH BUSINESS PLANNING, FINANCIAL PROJECTIONS, FUNDRAISING, AND BUSINESS DEVELOPMENT. WE ALSO AWARDED SMALL BUSINESS GRANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Vann Founder & CEO | Officer | 40 | $152,292 |
Ashford Chancellor Treasurer | OfficerTrustee | 3 | $0 |
Roy Lopez President | OfficerTrustee | 3 | $0 |
Drexel Owusu Director | Trustee | 3 | $0 |
Oliver L Simms III Director | Trustee | 3 | $0 |
Annika Cail Director | Trustee | 3 | $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 | $1,088,546 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,088,546 |
| Total Program Service Revenue | $14,882 |
| Investment income | $14 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $25 |
| 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 | $1,103,467 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,000 |
| 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. | $152,304 |
| Compensation of current officers, directors, key employees. | $15,230 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $364,933 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,046 |
| Payroll taxes | $40,555 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,000 |
| Fees for services: Accounting | $8,114 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $152,999 |
| Advertising and promotion | $9,779 |
| Office expenses | $9,418 |
| Information technology | $58,463 |
| Royalties | $0 |
| Occupancy | $87,495 |
| Travel | $36,174 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $127,368 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,120 |
| Insurance | $700 |
| All other expenses | $0 |
| Total functional expenses | $1,104,472 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $615,527 |
| Savings and temporary cash investments | $103 |
| Pledges and grants receivable | $46,150 |
| 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 | $8,820 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $717,500 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,388,100 |
| Accounts payable and accrued expenses | $2,598 |
| 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 | $548,127 |
| Other liabilities | $0 |
| Total liabilities | $550,725 |
| Net assets without donor restrictions | $837,375 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,388,100 |
Grants Awarded
Over the last fiscal year, Impact Ventures Accelerator has awarded $32,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
EYE CANDY CREATIONS LLC PURPOSE: Small business incubation | $10,000 |
REDLINE CARRIERS LLC PURPOSE: Small business incubation | $15,000 |
BREATHE MOTIV DBA VELAVIDA PURPOSE: Small business incubation | $7,500 |