Impact Capital
- Assets
- $22.8m
- Revenue
- $961.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Seattle, WA
- Founding
- 08/1994
- Data as of
- 12/2022
- EIN
- 94-3196958
Organization Overview
Impact Capital is located in Seattle, WA. The organization was established in 1994. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Impact Capital employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Impact Capital 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, Impact Capital generated $961.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.5%) each year. All expenses for the organization totaled $1.5m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
IMPACT CAPITAL IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT MAKES STRATEGIC LOANS TO ORGANIZATIONS, TRIBAL ENTITIES, AND HOUSING AUTHORITIES TO SPUR COMMUNITY DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
IMPACT CAPITAL MANAGES TWO LOAN POOLS THAT PROVIDE LOANS TO ORGANIZATIONS, HOUSING AUTHORITIES, AND TRIBAL ENTITIES, FOR THE CREATION OF AFFORDABLE HOUSING AND COMMUNITY FACILITIES. AFFORDABLE HOUSING FINANCED BY IMPACT CAPITAL SERVICES PEOPLE TYPICALLY AT OR BELOW 80% OF AREA MEDIAN INCOME. COMMUNITY FACILITIES PROVIDE ACCESS TO SERVICES FOR LOW AND MODERATE INCOME PEOPLE. LOANS ARE USED TO FUND PROPERTY ACQUISITION, PREDEVELOPMENT EXPENSES, OR TO BRIDGE PERMANENT CAPITAL. THESE ARE OFTEN TRANSACTIONS THAT DO NOT MEET THE RISK PROFILES OF TRADITIONAL BANK LENDERS. IMPACT CAPITAL WAS CREATED TO PROVIDE ACCESS TO CAPITAL AND OTHER RESOURCES FOR UNDERSERVED COMMUNITIES. OUR LENDING PROVIDES A FOUNDATION FOR NEW DEVELOPMENT THAT ATTRACTS PUBLIC AND PRIVATE PERMANENT FINANCING AND SERVES AS A NEEDED CATALYST FOR DEVELOPMENT. WE HELP BUILD EQUITABLE COMMUNITIES WITH CLEAN, SAFE AFFORDABLE HOUSING, AND ACCESS TO SERVICES INCLUDING PARKS, SCHOOLS, AND VIBRANT COMMERCIAL CORRIDORS. IN 2022, IMPACT CAPITAL CLOSED $12,136,703 IN LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joel Millar Executive Director | Officer | 40 | $147,000 |
Lora Bourelle Coo/cfo | Officer | 40 | $126,303 |
Marcel Neff VP Of Lending | Officer | 40 | $105,759 |
Bryan Ketcham Board Chair | OfficerTrustee | 1 | $0 |
Leanne Antonio Board Vice Chair | OfficerTrustee | 1 | $0 |
Susan Duren Secretary/treasurer | OfficerTrustee | 1 | $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 | $8,819 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,819 |
| Total Program Service Revenue | $938,041 |
| Investment income | $14,754 |
| 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 | $961,614 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $391,315 |
| Compensation of current officers, directors, key employees. | $73,393 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,277 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,495 |
| Payroll taxes | $38,955 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $85,053 |
| Fees for services: Accounting | $35,696 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $7,090 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,974 |
| Office expenses | $24,146 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,150 |
| Travel | $11,228 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $295,887 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,356 |
| Insurance | $13,110 |
| All other expenses | $0 |
| Total functional expenses | $1,468,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $268,985 |
| Savings and temporary cash investments | $6,127,554 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,218 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $16,236,505 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,579 |
| Net Land, buildings, and equipment | $2,454 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $79,089 |
| Total assets | $22,764,384 |
| Accounts payable and accrued expenses | $83,747 |
| 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 | $17,478,061 |
| Other liabilities | $90,236 |
| Total liabilities | $17,652,044 |
| Net assets without donor restrictions | $1,994,814 |
| Net assets with donor restrictions | $3,117,526 |
| 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 | $22,764,384 |
Grants Awarded
Over the last fiscal year, Impact Capital has awarded $117,936 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF TACOMA PURPOSE: support for public art project | $104,000 |
NEIGHBORHOOD REINVESTMENT CORP PURPOSE: training support | $13,936 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Impact Capital Seattle, WA | $22,764,384 | $961,614 |
Nixyaawii Community Financial Services Pendleton, OR | $7,905,641 | $1,539,028 |
Oba Education Foundation Salem, OR | $1,464,871 | $105,395 |
Evergreen Payee Services Vancouver, WA | $13,000 | $36,898 |
Coquille Student Loan Fund Inc Coquille, OR | $105,340 | $9 |
Financial Service Centers Of Washington Seattle, WA | $29,307 | $0 |