Impact Innovators And Entrepreneurs Foundation
- Assets
- $1.4m
- Revenue
- $1.0m
- Investments
- $518.0k
- Employees
- 2
- Location
- Morrisville, NC
- Founding
- 08/2019
- Data as of
- 12/2023
- EIN
- 83-1851237
Organization Overview
Impact Innovators And Entrepreneurs Foundation is located in Morrisville, NC. The organization was established in 2019. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Impact Innovators And Entrepreneurs Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Impact Innovators And Entrepreneurs Foundation 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 Innovators And Entrepreneurs Foundation generated $1.0m in total revenue. All expenses for the organization totaled $634.8k during the year ending 12/2023.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE AN IMPACT ON THE LIVES OF THE DISADVANTAGED, UNDER-SERVED POPULATIONS BY NURTURING MODELS OF INNOVATION AND ENTREPRENEURSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE IMPACT INNOVATORS & ENTREPRENEURS FOUNDATION'S PRIMARY PURPOSE IS TO CREATE AN IMPACT ON THE LIVES OF THE DISADVANTAGED, UNDER-SERVED POPULATIONS BY NURTURING MODELS OF INNOVATION AND ENTREPRENEURSHIP THAT SERVE THESE POPULATIONS DIRECTLY. TO THIS EFFECT WE HAVE DIRECTLY ENABLED ABOUT 10 ENTERPRISES THROUGH INVESTMENTS, LOAN GUARANTEE PROGRAMS AND ADVISORY AND INDIRECTLY SUPPORTED OVER 100 ENTERPRISES, THROUGH TRAINING AND ADVISORY SUPPORT TO 40 INCUBATORS (ENTREPRENEUR SUPPORT ORGANIZATIONS) ACCROSS SOUTH EAST ASIA, SOUTH ASIA AND AFRICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Arielle Molino Chief Convener | OfficerTrustee | 40 | $50,000 |
Arunkumar Venkatesan Ceo/director/secretary | OfficerTrustee | 40 | $44,100 |
Azad Oommen Treasurer | OfficerTrustee | 0.25 | $0 |
Jasmin Patel Chair | OfficerTrustee | 0.25 | $0 |
Jenny Everett Director | Trustee | 0.25 | $0 |
Nadine Freeman Director | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $210,885 |
| All other contributions, gifts, grants, and similar amounts not included above | $825,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,035,885 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,035,885 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $322,864 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $94,100 |
| Compensation of current officers, directors, key employees. | $18,820 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,835 |
| Payroll taxes | $18,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,284 |
| Fees for services: Accounting | $28,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,436 |
| Advertising and promotion | $12,466 |
| Office expenses | $748 |
| Information technology | $13,594 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $18,751 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,777 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $634,796 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $789,614 |
| Savings and temporary cash investments | $0 |
| 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 | $517,969 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $85,000 |
| Total assets | $1,392,583 |
| 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 | $1,078 |
| Total liabilities | $1,078 |
| Net assets without donor restrictions | $1,391,505 |
| 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 | $1,392,583 |