Impact Ventures Accelerator
- Assets
- $734.7k
- Revenue
- $756.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Dallas, TX
- Founding
- Data as of
- 12/2021
- 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. 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 12/2021, Impact Ventures Accelerator generated $756.8k in total revenue. All expenses for the organization totaled $341.5k during the year ending 12/2021. While expenses have increased by 88.7% per year over the past 2 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
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
IN 2021, IMPACT VENTURES SUPPORTED 84 COMPANIES AND 120 UNDERESTIMATED WOMEN AND BIPOC ENTREPRENEURS THROUGH ITS FLAGSHIP ACCELERATOR PROGRAM. FOUNDERS RECEIVED OVER 4,173 HOURS OF TRAINING, MENTORSHIP, AND TECHNICAL ASSISTANCE FROM THE SUPPORT OF 168 MENTORS. IMPACT VENTURES AWARDED 8 GRANTS IN THE AMOUNT OF $42,500, MADE 6 GENERAL INVESTMENTS TOTALING $100,000, OBTAINED 16 NEW PATENTS, COPYRIGHTS, OR TRADEMARKS, AND CREATED 133 JOBS. IMPACT VENTURES ALSO LAUNCHED THE FIRST OF ITS KIND, INTEGRATED CAPITAL FUND. IMPACT VENTURES MADE 2 INVESTMENTS TOTALING $200,000 FROM THE FUND. IMPACT VENTURES ALSO HOSTED A SERIES OF COMMUNITY EVENTS AND WORKSHOPS TO IMPACT OVER 500 PEOPLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benjamin Vann Founder & CEO | Officer | 40 | $109,250 |
Mackenzie Causey Secretary | OfficerTrustee | 2 | $0 |
Ted Hill Vice President | OfficerTrustee | 2 | $0 |
Greer Christian Board Chair | OfficerTrustee | 5 | $0 |
Taylor Ready Director | Trustee | 2 | $0 |
Drexel Owusu Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $3,096 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $734,440 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $737,536 |
| Total Program Service Revenue | $19,257 |
| Investment income | $9 |
| 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 | $756,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $41,500 |
| 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. | $109,250 |
| Compensation of current officers, directors, key employees. | $10,925 |
| 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 | $164,272 |
| Advertising and promotion | $523 |
| Office expenses | $1,774 |
| Information technology | $5,381 |
| Royalties | $0 |
| Occupancy | $1,491 |
| Travel | $3,160 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,219 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141 |
| Insurance | $270 |
| All other expenses | $0 |
| Total functional expenses | $341,549 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $391,716 |
| Savings and temporary cash investments | $26,750 |
| Pledges and grants receivable | $15,000 |
| 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 | $1,281 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $300,000 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $734,747 |
| Accounts payable and accrued expenses | $96 |
| Grants payable | $18,500 |
| 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 | $200,000 |
| Other liabilities | $0 |
| Total liabilities | $218,596 |
| 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 | $516,151 |
| Total liabilities and net assets/fund balances | $734,747 |
Grants Awarded
Over the last fiscal year, Impact Ventures Accelerator has awarded $25,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
THE GOOD JERKY PURPOSE: Small business incubation | $15,000 |
FUNKY MELLO LLC PURPOSE: Small business incubation | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Impact Ventures Accelerator has recieved totaling $205,694.
| Awarding Organization | Amount |
|---|---|
Truist Foundation Inc Orlando, FL PURPOSE: GENERAL OPERATING | $150,000 |
Vilcap Inc Houston, TX PURPOSE: FINANCIAL SUPPORT FOR EARLY-STAGE SOCIAL VENTURE COMMITTED TO PROMOTING EQUITY AND ECONOMIC WELL-BEING. | $30,000 |
Rudolf Steiner Foundation Inc San Francisco, CA PURPOSE: FOR BII COHORT PARTICIPATORY GRANTMAKING POOL | $25,694 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Firstline Schools Inc New Orleans, LA | $25,158,781 | $60,437,770 |
Education Service Center Region Xii Of Texas Waco, TX | $21,686,581 | $37,093,935 |
New Meridian Corporation Austin, TX | $22,335,966 | $20,374,244 |
Belle Chasse Academy Inc Belle Chasse, LA | $29,416,847 | $17,545,847 |
Village Tech Schools Duncanville, TX | $32,290,922 | $14,785,373 |
Bexar County Performing Arts Center Foundation San Antonio, TX | $183,646,136 | $8,087,390 |
Leading Educators Inc New Orleans, LA | $10,160,201 | $9,461,961 |
Hispanic Association Of Colleges And Universities San Antonio, TX | $14,909,180 | $14,551,149 |
Passages America Israel Inc Allen, TX | $8,997,691 | $7,060,714 |
Extend-A-Care Inc Austin, TX | $4,350,683 | $9,102,758 |
Educate Girls Austin, TX | $42,960,470 | $14,126,525 |
Evolution Acadamy Richardson, TX | $15,542,643 | $6,925,248 |