V1 Community Impact Inc

Organization Overview

V1 Community Impact Inc is located in Ridgewood, NY. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. V1 Community Impact Inc 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 12/2022, V1 Community Impact Inc generated $384.5k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 24.4% each year . All expenses for the organization totaled $282.6k during the year ending 12/2022. While expenses have increased by 22.0% per year over the past 3 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THIS CHARITABLE CORPORATION IS FORMED FOR THE PURPOSE OF HELPING INDIVIDUALS ANDFAMILIES IN NEED. THE INDIVIDUALS WHO WILL BENEFIT FROM THE CORPORATION ARE MEMBERS OF OUR COMMUNITY AND THEIR FAMILIES. THE CORPORATION, IN ORDER TO ACCOMPLISH THIS, SHALL BE A COMMUNITY DEVELOPMENT ORGANIZATION SERVING OUR LOCAL COMMUNITY BY ENGAGING IN A BROAD RANGE OF STRATEGIES THAT PROMOTE COMMUNITY HEALTH, EDUCATION, AND DEVELOPMENT. THE CORPORATION SHALL NOT, EITHER DIRECTLY OR INDIRECTLY ENGAGE IN OR INCLUDE AMONG ITS PURPOSES, ANY OF THE ACTS OR ACTIVITIES THAT WOULD REQUIRE CONSENT PURSUANT TO SECTION 404 (A)-(W) OF THE NOT -FOR- PROFIT CORPORATION LAW.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THIS CHARITABLE CORPORATION IS FORMED FOR THE PURPOSE OF HELPING INDIVIDUALS ANDFAMILIES IN NEED. THE INDIVIDUALS WHO WILL BENEFIT FROM THE CORPORATION ARE MEMBERS OF OUR COMMUNITY AND THEIR FAMILIES. THE CORPORATION, IN ORDER TO ACCOMPLISH THIS, SHALL BE A COMMUNITY DEVELOPMENT ORGANIZATION SERVING OUR LOCAL COMMUNITY BY ENGAGING IN A BROAD RANGE OF STRATEGIES THAT PROMOTE COMMUNITY HEALTH, EDUCATION, AND DEVELOPMENT. THE CORPORATION SHALL NOT, EITHER DIRECTLY OR INDIRECTLY ENGAGE IN OR INCLUDE AMONG ITS PURPOSES, ANY OF THE ACTS OR ACTIVITIES THAT WOULD REQUIRE CONSENT PURSUANT TO SECTION 404 (A)-(W) OF THE NOT -FOR- PROFIT CORPORATION LAW.


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Board, Officers & Key Employees

Name (title)Compensation
Michael Signorelli Jr
President
$0
Anthony Vincent Pappalardo
Treasurer
$0
Diana Deeter
Secretary
$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$382,046
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$382,046
Total Program Service Revenue$2,421
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 $384,467

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