Ignite Capital Inc
- Assets
- $2.1m
- Revenue
- $317.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Baltimore, MD
- Founding
- Data as of
- 12/2022
- EIN
- 84-4893203
Organization Overview
Ignite Capital Inc is located in Baltimore, MD. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ignite Capital 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, Ignite Capital Inc generated $317.9k in total revenue. All expenses for the organization totaled $209.6k during the year ending 12/2022.
Since 2021, Ignite Capital Inc has awarded 11 individual grants totaling $298,028. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
IGNITE CAPITAL IS A SOCIAL IMPACT FUND WITH THE MISSION TO 1) EMPOWER AND RESOURCE BALTIMORE SOCIAL ENTERPRISES IN ECONOMICALLY DISTRESSED COMMUNITITES, 2)SUPPORT THE OVERALL EFFORTS OF THESE SOCIAL ENTERPRISES TO ATTRACT FUTURE INVESTMENTS IN SUPPORT OF THEIR MISSION AND, 3) CONTRIBUTE TO ONGOING EFFORTS IN ENSURING BALTIMORE NEIGHBORHOODS ARE THRIVING SUSTAINABLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EMPOWER AND RESOURCE BALTIMORE SOCIAL ENTERPRISES IN ECONOMICALLY DISTRESSED COMMUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patti Chandler Chairman | Trustee | 4 | $0 |
Murray Dalziel Director | Trustee | 4 | $0 |
FR Richard Mcgowan Director | Trustee | 4 | $0 |
Dan Rizzo Director | Trustee | 4 | $0 |
Bree Jones Director | Trustee | 4 | $0 |
Mary Ann Scully Director | Trustee | 4 | $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 | $307,941 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $307,941 |
| Total Program Service Revenue | $0 |
| Investment income | $9,532 |
| 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 | $317,895 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $80,275 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $46,182 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,570 |
| Payroll taxes | $3,389 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,448 |
| Fees for services: Accounting | $13,933 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,000 |
| Office expenses | $91 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,663 |
| Interest | $6,660 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $110 |
| Total functional expenses | $209,587 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,270,402 |
| 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 | $809,481 |
| 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 | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,079,883 |
| Accounts payable and accrued expenses | $11,937 |
| Grants payable | $0 |
| Deferred revenue | $25,000 |
| 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 | $1,839,938 |
| Total liabilities | $1,876,875 |
| Net assets without donor restrictions | $203,008 |
| 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 | $2,079,883 |
Grants Awarded
Over the last fiscal year, Ignite Capital Inc has awarded $58,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
NOISY TENANTS PURPOSE: SUPPORT MISSION-RELATED PROGRAMS AND OPERATIONS | $6,000 |
FRESHMEET U LLC PURPOSE: SUPPORT MISSION-RELATED PROGRAMS AND OPERATIONS | $7,000 |
MORE WATTERS LLC PURPOSE: SUPPORT MISSION-RELATED PROGRAMS AND OPERATIONS | $10,000 |
INFINITE FOCUS INC PURPOSE: SUPPORT MISSION-RELATED PROGRAMS AND OPERATIONS | $35,000 |