Civic Intelligence

Impact Loan Fund Inc

EIN 23-3032463 • 501(c)3 • Philadelphia, PA

Profile

Certified loan fund to assist small business firms to improve economic conditions in eastern philadelphia.

1952 E Allegheny AvenuePhiladelphia, PA 19134
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.44x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

93rd percentile

3.20x

Higher debt load relative to revenue than 93% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

75th percentile

22%

Higher net margin than 75% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

78th percentile

$221,265

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 16.4% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

61st percentile

7.7%

Faster asset growth than 61% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Revenue Growth

84th percentile

49%

Faster revenue growth than 84% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$9,037,274

Up $414,497 (+4.8%) from 2023

Liabilities

Up

$3,930,046

Up $418,182 (+12%) from 2023

Net Assets

Down

$5,107,228

Down $3,685 (-0.1%) from 2023

Operations
Liabilities / Revenue93rd percentileNet Margin75th percentile

Revenue

Up

$909,660

Up $17,253 (+1.9%) from 2023

Expenses

Up

$913,345

Up $79,406 (+9.5%) from 2023

Net Income

Down

-$3,685

Down $62,153 (-106%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth61st percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0-$5.0MAssets 2011: $240,743Liabilities 2011: $14,8412011Assets 2012: $625,753Liabilities 2012: $274,6832012Assets 2013: $627,668Liabilities 2013: $124,623Net Assets 2013: $503,0452013Assets 2014: $789,250Liabilities 2014: $172,167Net Assets 2014: $617,0832014Assets 2015: $742,162Liabilities 2015: $14,816Net Assets 2015: $727,3462015Assets 2016: $754,083Liabilities 2016: $130Net Assets 2016: $753,9532016Assets 2017: $912,778Liabilities 2017: $131Net Assets 2017: $912,6472017Assets 2018: $976,946Liabilities 2018: -$242Net Assets 2018: $977,1882018Assets 2019: $2,401,175Liabilities 2019: -$537Net Assets 2019: $2,401,7122019Assets 2020: $3,098,453Liabilities 2020: $388,254Net Assets 2020: $2,710,1992020Assets 2021: $5,090,976Liabilities 2021: $1,946,480Net Assets 2021: $3,144,4962021Assets 2022: $7,566,603Liabilities 2022: $2,514,158Net Assets 2022: $5,052,4452022Assets 2023: $8,622,777Liabilities 2023: $3,511,864Net Assets 2023: $5,110,9132023Assets 2024: $9,037,274Liabilities 2024: $3,930,046Net Assets 2024: $5,107,2282024

Highlighted filing

2024

Assets$9,037,274
Liabilities$3,930,046
Net Assets$5,107,228
Open 2024 Filing

Operations Trend

Revenue Growth84th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $13,657Expenses 2011: $10,191Net Income 2011: $3,4662011Revenue 2012: $134,873Expenses 2012: $9,705Net Income 2012: $125,1682012Revenue 2013: $163,735Expenses 2013: $11,760Net Income 2013: $151,9752013Revenue 2014: $142,416Expenses 2014: $28,379Net Income 2014: $114,0372014Revenue 2015: $168,485Expenses 2015: $58,221Net Income 2015: $110,2642015Revenue 2016: $79,164Expenses 2016: $52,557Net Income 2016: $26,6072016Revenue 2017: $185,058Expenses 2017: $26,364Net Income 2017: $158,6942017Revenue 2018: $134,924Expenses 2018: $70,383Net Income 2018: $64,5412018Revenue 2019: $1,540,038Expenses 2019: $115,514Net Income 2019: $1,424,5242019Revenue 2020: $500,332Expenses 2020: $191,845Net Income 2020: $308,4872020Revenue 2021: $1,005,600Expenses 2021: $571,303Net Income 2021: $434,2972021Revenue 2022: $2,414,712Expenses 2022: $506,763Net Income 2022: $1,907,9492022Revenue 2023: $892,407Expenses 2023: $833,939Net Income 2023: $58,4682023Revenue 2024: $909,660Expenses 2024: $913,345Net Income 2024: -$3,6852024

Highlighted filing

2024

Revenue$909,660
Expenses$913,345
Net Income-$3,685
Open 2024 Filing

Filings

Most recent year

2024 • Form 990XML pending. An XML filing is linked for this year, but detailed extraction is still pending.

Open filing
Assets
$9,037,274
Liabilities
$3,930,046
Net assets
$5,107,228
Revenue
$909,660
Expenses
$913,345
Net income
-$3,685
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.04$3.93$5.11$0.91$0.91$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.62$3.51$5.11$0.89$0.83$0.06
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.57$2.51$5.05$2.41$0.51$1.91
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.09$1.95$3.14$1.01$0.57$0.43
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.10$0.39$2.71$0.50$0.19$0.31
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.40$0.00$2.40$1.54$0.12$1.42
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.98$0.00$0.98$0.13$0.07$0.06
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.00$0.91$0.19$0.03$0.16
2016Detailed filing. Detailed filing data is available for this year.$0.75$0.00$0.75$0.08$0.05$0.03
2015Summary only. Only limited summary data is available for this year.$0.74$0.01$0.73$0.17$0.06$0.11
2014Summary only. Only limited summary data is available for this year.$0.79$0.17$0.62$0.14$0.03$0.11
2013Summary only. Only limited summary data is available for this year.$0.63$0.12$0.50$0.16$0.01$0.15
2012Summary only. Only limited summary data is available for this year.$0.63$0.27$0.13$0.01$0.13
2011Summary only. Only limited summary data is available for this year.$0.24$0.01$0.01$0.01$0.00
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2021 below.

Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 13, 2022
Return Version
2020v4.0
Gross Receipts
$1,005,600
Mission and Program Overview

Mission

Certified loan fund to assist small business firms to improve economic conditions in eastern philadelphia.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$1,853,607$4,145,853▲ $2,292,246
Cash and Non-Interest-Bearing Accounts$1,226,617$892,309▼ $334,308
Pledges and Grants Receivable$14,100$50,000▲ $35,900
Accounts Receivable$4,129$2,814▼ $1,315
Total Assets$3,098,453$5,090,976▲ $1,992,523
Liabilities
Other Liabilities$380,000$1,365,000▲ $985,000
Mortgage Notes Payable Secured by Investment Property-$574,994-
Accounts Payable and Accrued Expenses$8,254$6,486▼ $1,768
Total Liabilities$388,254$1,946,480▲ $1,558,226
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,710,199$3,144,496▲ $434,297
Total Net Assets Fund Balance$2,710,199$3,144,496▲ $434,297
Total Liabilities and Net Assets / Fund Balance$3,098,453$5,090,976▲ $1,992,523
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
CASEY O'DONNELPresident
David LangliebBoard Member
Jack HubbertBoard Member
Maria SourbeerBoard Member
Matthew PappajohnBoard Member
Pearl Wang-herreraBoard Member
Sergio GiraldoBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Marcus Reinvestment Strategies--$165,691
Revenue and Support

Revenue Composition

Contributions and Grants
$802,446
Program Service Revenue
$203,154
Investment Income
$0
Other Revenue
$0
All Other Contributions
$677,446
Change in Net Assets
$434,297

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,005,600
Total Revenue per Audited Statements
$1,005,600
Total Revenue per Form 990
$1,005,600
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$571,303
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$242,666$33,027-$275,693
Interest$9,864--$9,864
Other Expenses$8,098$132-$8,098
Office Expenses$2,562$523-$3,085
Occupancy$1,102$99-$1,201
Total Functional Expenses$537,522$33,781$0$571,303

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$571,303
Total Expenses per Audited Statements$571,303
Total Expenses per Form 990$571,303
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$1,365,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“A draft of the 990 is circulated to all board members for review. They are able to comment or question before the return is submitted.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest policy is reviewed annually and any known conflicts are reported to the board at large. This list of conflicts is updated on an annual basis.”

Form 990, Page 6, Part VI, Line 19

“Any request for the documents are answered either through email or direct mail. The organization also uploads its 990 to guidestar.”

Filing and Contact Details

Filer

Filer Name
Impact Loan Fund Inc
EIN
23-3032463
Phone
2154232944
Address
1952 E ALLEGHENY AVENUE, PHILADELPHIA, PA 19134

Signing Officer

Name
CASEY O'DONNEL
Title
President
Phone
2154232944
Signed
2022-05-13

Organization Details

Principal Officer
CASEY O'DONNEL
Formed
2001
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Zelenkofske Axelrod LLC
Address
210 TOLLGATE HILL ROAD, GREENSBURG, PA 15601
Preparer
Jared C Ewing
Phone
7248342151
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

“The loan fund is a not-for-profit organization as described in section 501 (c)(3) of the internal revenue code and is generally exempt from federal and state income taxes. The loan fund is subject to unrelated business income taxes on any nonexempt activities. There was no taxable income in 2021. Accordingly, no provision for income taxes has been recognized. Management assesses the tax-exempt status annually and believes it is not likely that the tax-exempt position would be challenged and subject to tax consequences within the next year. However, the tax returns from 2018 through 2020 remain subject to examination by tax jurisdictions under both federal and state statutes of limitations. The loan fund follows accounting requirements associated with uncertainty in income taxes using the provisions of fasb asc 740, income taxes. Using that guidance, tax positions initially need to be recognized in the financial statements when it is more likely than not that the positions will be sustained upon examination by the taxing authorities. It also provides guidance for derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. As of june 30, 2021, the loan fund had no uncertain tax positions that qualified for either recognition or disclosure in the financial statements. Additionally, the loan fund had no interest or penalties related to income taxes.”

Raw XML Appendix373 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/EmployeeCnt00
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IRS990/ExpenseAmt0537522
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt016800
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE LOAN FUND IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501 (C)(3) OF THE INTERNAL REVENUE CODE AND IS GENERALLY EXEMPT FROM FEDERAL AND STATE INCOME TAXES. THE LOAN FUND IS SUBJECT TO UNRELATED BUSINESS INCOME TAXES ON ANY NONEXEMPT ACTIVITIES. THERE WAS NO TAXABLE INCOME IN 2021. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN RECOGNIZED. MANAGEMENT ASSESSES THE TAX-EXEMPT STATUS ANNUALLY AND BELIEVES IT IS NOT LIKELY THAT THE TAX-EXEMPT POSITION WOULD BE CHALLENGED AND SUBJECT TO TAX CONSEQUENCES WITHIN THE NEXT YEAR. HOWEVER, THE TAX RETURNS FROM 2018 THROUGH 2020 REMAIN SUBJECT TO EXAMINATION BY TAX JURISDICTIONS UNDER BOTH FEDERAL AND STATE STATUTES OF LIMITATIONS. THE LOAN FUND FOLLOWS ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE, AND TRANSITION. AS OF JUNE 30, 2021, THE LOAN FUND HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFIED FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. ADDITIONALLY, THE LOAN FUND HAD NO INTEREST OR PENALTIES RELATED TO INCOME TAXES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT OF THE 990 IS CIRCULATED TO ALL BOARD MEMBERS FOR REVIEW. THEY ARE ABLE TO COMMENT OR QUESTION BEFORE THE RETURN IS SUBMITTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY AND ANY KNOWN CONFLICTS ARE REPORTED TO THE BOARD AT LARGE. THIS LIST OF CONFLICTS IS UPDATED ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ANY REQUEST FOR THE DOCUMENTS ARE ANSWERED EITHER THROUGH EMAIL OR DIRECT MAIL. THE ORGANIZATION ALSO UPLOADS ITS 990 TO GUIDESTAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CASEY O'DONNEL
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-13
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ReturnHeader/Filer/PhoneNum02154232944
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ZELENKOFSKE AXELROD LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0210 TOLLGATE HILL ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENSBURG
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
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ReturnHeader/PreparerPersonGrp/PhoneNum07248342151
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JARED C EWING
ReturnHeader/ReturnTs02022-05-13T19:54:37-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CASEY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ODONNEL
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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