Civic Intelligence

Impact-U Foundation Inc

990 • Fiscal year 2023 • EIN 84-4954490

Jan 01, 2023 to Dec 31, 2023 • Filed on May 08, 2024

Organization Profile
10 Bremen StreetEast Boston, MA 02128

(917) 650-9272

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.01x

Higher debt load relative to assets than 64% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

62nd percentile

0.00x

Higher debt load relative to revenue than 62% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

71st percentile

18%

Higher net margin than 71% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

84th percentile

$16,609

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 5.8% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

90th percentile

83%

Faster asset growth than 90% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

702%

Faster revenue growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$118,599

Up $53,925 (+83%) from 2022

Net Assets

Up

$117,814

Up $53,578 (+83%) from 2022

Liabilities

Up

$785

Up $347 (+79%) from 2022

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin71st percentile

Revenue

Up

$286,945

Up $251,175 (+702%) from 2022

Expenses

Up

$235,694

Up $220,236 (+1425%) from 2022

Net Income

Up

$51,251

Up $30,939 (+152%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200K$150K$100K$50K$0Assets 2022: $64,674Liabilities 2022: $438Net Assets 2022: $64,2362022Assets 2023: $118,599Liabilities 2023: $785Net Assets 2023: $117,8142023Assets 2024: $176,452Liabilities 2024: $11,140Net Assets 2024: $165,3122024

Highlighted filing

2023

Assets$118,599
Liabilities$785
Net Assets$117,814
Open 2023 Filing

Operations Trend

Revenue Growth98th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0Revenue 2022: $35,770Expenses 2022: $15,458Net Income 2022: $20,3122022Revenue 2023: $286,945Expenses 2023: $235,694Net Income 2023: $51,2512023Revenue 2024: $103,229Expenses 2024: $56,638Net Income 2024: $46,5912024

Highlighted filing

2023

Revenue$286,945
Expenses$235,694
Net Income$51,251
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 8, 2024
Return Version
2023v5.1
Gross Receipts
$286,945
Mission and Program Overview

Mission

We identify students facing economic hardship with their living expenses and at risk of dropping out. Students receive financial assistance and integral support, so they can be financially secure and build skills outside of their academic curriculum to succeed in the labor market

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$64,382$105,708▲ $41,326
Savings and Temporary Cash Investments-$10,044-
Prepaid Expenses and Deferred Charges-$2,804-
Total Assets$64,674$118,599▲ $53,925
Other Assets Total$292$43▼ $249
Liabilities
Accounts Payable and Accrued Expenses-$744-
Other Liabilities$438$41▼ $397
Total Liabilities$438$785▲ $347
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$64,236$117,814▲ $53,578
Total Net Assets Fund Balance$64,236$117,814▲ $53,578
Total Liabilities and Net Assets / Fund Balance$64,674$118,599▲ $53,925

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$43--
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Estefani RoldanSecretaryPT$16,609$16,609
Clara CorreaDirector-$5,841$5,841

Board Members and Trustees

NameTitle
Liliana Arroyave OsornoPresident
Santiago AlvarezDirector
Alejandra PinzonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$282,373
Program Service Revenue
$0
Investment Income
$2,381
Other Revenue
$2,191
Change in Net Assets
$51,251
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$227,302
Total Fundraising Expense$204,400
Salaries, Compensation, and Employee Benefits$7,292
Professional Fundraising Fees$1,100
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$87$1,079$203,300$203,300
Current Officers, Directors, Trustees, and Key Employees$4,089$1,753-$5,842
Advertising$4,605--$4,605
Payroll Taxes$1,015$435-$1,450
Fees for Services Professional Fundraising--$1,100$1,100
Office Expenses-$151-$151
All Other Expenses-$56-$56
Fees for Services Legal-$53-$53
Total Functional Expenses$27,767$3,527$204,400$235,694
International Activity

International Summary

Offices
1
Employees
1
Spending
$35,261

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AmericaProgram ServicesProgram Management11$35,261
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$1,100

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Perros Criol$238,018$238,018$195,675$42,343
Concert$7,313$7,313$7,625$-312
Total Events$245,331$245,331$203,300$42,031
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card Payable$41
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Officer directors etc family relationship Part VI line 2

“President and a director are cousins.”

Form 990 governing body review Part VI line 11

“Irs form 990 is distributed to board members for their review. Form 990 is reviewed by the board audit and compliance compliance committee members prior to submission of return.”

Governing documents etc available to public Part VI line 19

“Governing documents and form 990 copies are available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Impact-u Foundation Inc
EIN
84-4954490
Address
10 BREMEN STREET, EAST BOSTON, MA 02128

Signing Officer

Name
Liliana Arroyave
Title
Officer
Phone
9176509272
Signed
2024-05-08
Discuss with paid preparer
No

Organization Details

Principal Officer
Liliana Arroyave Osorno
Formed
2019
Legal Domicile
Ma
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
20

Preparer

Firm
Peter a Burgos CPA Pc
Address
45-10 COURT SQUARE 3RD FLR, LONG ISLAND CITY, NY 11101
Preparer
Peter a Burgos CPA
Phone
7183340885
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“Prior period adjustment $2324”

Raw XML Appendix374 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.

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IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt07625
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PRESIDENT AND A DIRECTOR ARE COUSINS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IRS FORM 990 IS DISTRIBUTED TO BOARD MEMBERS FOR THEIR REVIEW. FORM 990 IS REVIEWED BY THE BOARD AUDIT AND COMPLIANCE COMPLIANCE COMMITTEE MEMBERS PRIOR TO SUBMISSION OF RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FORM 990 COPIES ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRIOR PERIOD ADJUSTMENT $2324
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Officer directors etc family relationship Part VI line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Explanation of other changes in net assets or fund balances Part XI line 9
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0LILIANA ARROYAVE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum09176509272
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-08
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMPACT-U FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0IMPA
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ReturnHeader/Filer/USAddress/AddressLine1Txt010 BREMEN STREET
ReturnHeader/Filer/USAddress/CityNm0EAST BOSTON
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PETER A BURGOS CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt045-10 COURT SQUARE 3RD FLR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LONG ISLAND CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
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ReturnHeader/PreparerPersonGrp/PhoneNum07183340885
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PETER A BURGOS CPA
ReturnHeader/ReturnTs02024-11-15T22:30:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$118,599
Liabilities
$785
Net assets
$117,814
Revenue
$286,945
Expenses
$235,694
Net income
$51,251
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.76$0.11$1.65$1.03$0.57$0.47
2023Detailed filing. Detailed filing data is available for this year.$1.19$0.01$1.18$2.87$2.36$0.51
2022Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.64$0.36$0.15$0.20