Impact Foundation

Filing Period

Jan 1, 2010 to Dec 31, 2010

Signed

Oct 11, 2011

Return Version

2010v3.4

Gross Receipts

$2,108,841

Mission

Major Activities

Activity 2

Economic DevelopmentThe Foundations support the economic development of North Dakota communities by initiating and funding various initiatives directed at assisting veteran, women's, and Native American small businesses located in the less populated areas of North Dakota. Grants from the USDA Office of Rural Development, North Dakota Department of Commerce, and Dakota Certified Development Corporation established the procurement assistance program (PAC) in 2005 to provide research, technical assistance, and training to North Dakota small businesses assisting them in securing federal and state government contracts for their goods and services.The Otto Bremer Foundation provided Impact with a $240,000 multi-year grant in 2008 to establish a Veteran's Entrepreneurship Assistance Program. This funding allowed the PAC to assist veterans to start and expand their businesses by securing government contracts. Funding from the USDA Office of Rural Development has allowed this program to assist businesses in key rural communities throughout the state. Through 2010, technical assistance has been provided to over 241 North Dakota businesses including 106 Native American and 54 veteran owned businesses and representing 90% of the current 8(a)/Small Disadvantaged Business certified companies. The PAC has provided 27 workshops with over 467 attendees. Over 191 bids have been submitted with 101 contracts obtained totaling over $162 million of which $111 million were Native American business contract dollars. Over 649 North Dakota jobs have been created and/or retained.The Foundations have entered into a 30-year loan commitment with the USDA Intermediary Loan Program (IRP) through the Office of Rural Development in 2007. The IRP created a $937,500 pool of funds available to qualifying North Dakota businesses at low interest rates. The revolving pool provides an ongoing source of revolving loans to small businesses from the debt service borrowers repay. Dakota Certified Development Corporation (DCDC) provided a grant to Impact to meet the equity requirement under the terms of the USDA loan with Impact. DCDC manages the loan program under an agreement with Impact. As of 12/31/2010 6 loans totaling over $674,000 have been provided to borrowers. DCDC has established a charitable fund at the Foundations that will provide funding for future economic development projects to benefit the region.

Activity 3

Community SupportThe Foundation provides grants to support community events, statewide nonprofit organizations and other societal improvement initiatives. Grants were provided for these purposes from established named funds and from other grants and donor contributions to the Foundation. Impact provided support to the local area Fill-the-Dome program to restock local food shelters. The Foundation established a Clubs Fore Kids Initiative to promote youth golf programs by providing clubs, practice and play opportunities to those unable to afford the cost of participating. The Foundations have given back to North Dakota communities impacted by natural disasters. During 2009 and 2010, the Foundations worked closely with Red River Valley community leaders to create funds at Impact to receive grants and donor contributions to provide financial support for communities affected by the 2009 and 2010 flooding of the Red River. Impact coordinated with community committees to distribute funds to nonprofit organizations that provided relief to flood victims. The funds remain in effect to collect contributions and to distribute funds for future flooding events.

Filer

EIN

20-0520386