Impact Foundation

Filing Period

Jan 1, 2011 to Dec 31, 2011

Signed

Nov 15, 2012

Return Version

2011v1.2

Gross Receipts

$1,103,112

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 small businesses located in 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 2006 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 2011, technical assistance has been provided to over 290 North Dakota businesses including 111 Native American and 62 veteran owned businesses and representing 90% of the current 8(a)/Small Disadvantaged Business certified companies. The PAC has provided 29 workshops with over 523 attendees. Over 197 bids have been submitted with 115 contracts obtained totaling over $171 million of which $111 million were Native American business contract dollars. Over 685 North Dakota jobs have been retained and/or created.Impact 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. 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 12/31/2011 6 loans totaling over $674,000 have been provided to small businesses in rural communities. DCDC has established a charitable fund at the Foundations that will provide funding to improve the North Dakota business climate.

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 received by the Foundations. Impact provided support to the local area Fill-the-Dome program to restock local food shelters. The Foundation has established a Clubs Fore Kids Initiative to promote community youth golf programs by providing clubs, practice and play opportunities to those unable to afford the cost of participation. 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 charitable 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 benefited flood victims. The funds remain in place to collect contributions and to distribute funds for future flooding events. The Foundation stands ready to provide financial support in the event of future natural disasters by helping to coordinate fundraising efforts in North Dakota.

Filer

EIN

20-0520386