Civic Intelligence

Impetus Fund

990 • Fiscal year 2022 • EIN 85-1701143

Jul 01, 2021 to Jun 30, 2022 • Filed on May 12, 2023

Organization ProfileN/A
1200 G Street NW 800Washington, DC 20005

(202) 661-2180

Siviq Scores

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

Liabilities / Assets

40th percentile

0.01x

Higher debt load relative to assets than 40% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

34th percentile

0.01x

Higher debt load relative to revenue than 34% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Net Margin

74th percentile

26%

Higher net margin than 74% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

67th percentile

$6,689

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Asset Growth

93rd percentile

69%

Faster asset growth than 93% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-97%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets40th percentile

Assets

Up

$1,330,441

Up $541,404 (+69%) from 2021

Net Assets

Up

$1,316,100

Up $606,029 (+85%) from 2021

Liabilities

Down

$14,341

Down $64,625 (-82%) from 2021

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin74th percentile

Revenue

Down

$2,327,145

Down $66,225,520 (-97%) from 2021

Expenses

Down

$1,721,116

Down $66,121,478 (-97%) from 2021

Net Income

Down

$606,029

Down $104,042 (-15%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$20M$15M$10M$5.0M$0Assets 2021: $789,037Liabilities 2021: $78,966Net Assets 2021: $710,0712021Assets 2022: $1,330,441Liabilities 2022: $14,341Net Assets 2022: $1,316,1002022Assets 2023: $2,666,747Liabilities 2023: $88,830Net Assets 2023: $2,577,9172023Assets 2024: $16,425,841Liabilities 2024: $1,240,816Net Assets 2024: $15,185,0252024

Highlighted filing

2022

Assets$1,330,441
Liabilities$14,341
Net Assets$1,316,100
Open 2022 Filing

Operations Trend

Revenue Growth1st percentile

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

$80M$60M$40M$20M$0Revenue 2021: $68,552,665Expenses 2021: $67,842,594Net Income 2021: $710,0712021Revenue 2022: $2,327,145Expenses 2022: $1,721,116Net Income 2022: $606,0292022Revenue 2023: $3,825,682Expenses 2023: $2,563,865Net Income 2023: $1,261,8172023Revenue 2024: $20,178,878Expenses 2024: $7,571,770Net Income 2024: $12,607,1082024

Highlighted filing

2022

Revenue$2,327,145
Expenses$1,721,116
Net Income$606,029
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 12, 2023
Return Version
2021v4.2
Gross Receipts
$4,623,044
Mission and Program Overview

Mission

To operate exclusively for the purpose of promoting social welfare, including, but not limited to, providing public education, conducting advocacy, and encouraging civic engagement.

Impetus fund (the "fund") is a 501(c)(4) social welfare organization dedicated to promoting the common good, improving the well-being of communities, and strengthening society at-large.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$283,086$1,206,528▲ $923,442
Savings and Temporary Cash Investments$503,437$118,525▼ $384,912
Prepaid Expenses and Deferred Charges$2,514$5,388▲ $2,874
Total Assets$789,037$1,330,441▲ $541,404
Liabilities
Accounts Payable and Accrued Expenses$78,966$14,341▼ $64,625
Total Liabilities$78,966$14,341▼ $64,625
Net Assets / Fund Balance
Net Assets With Donor Restrictions$500$662,858▲ $662,358
Net Assets Without Donor Restrictions$709,571$653,242▼ $56,329
Total Net Assets Fund Balance$710,071$1,316,100▲ $606,029
Total Liabilities and Net Assets / Fund Balance$789,037$1,330,441▲ $541,404
Compensation and Service Providers
Top Officer Pay67th percentile

Employees

NameTitleBaseTotal
Saurabh GuptaGeneral Counsel$6,689$6,689

Board Members and Trustees

NameTitle
Ezra ReesePresident and Chair
Andrew SchulzSecretary
Falona JoyTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Arabella Advisors LLCAdministrative / Operational Services1828 L STREET NW SUITE 300, Washington, DC 20036$135,078
Revenue and Support

Revenue Composition

Contributions and Grants
$2,295,899
Program Service Revenue
$0
Investment Income
$13,928
Other Revenue
$17,318
All Other Contributions
$2,295,899
Change in Net Assets
$606,029

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded9$2,295,899Fair Market Value
Total Noncash Contributions9$2,295,899-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,327,145
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,327,145
Total Revenue per Form 990
$2,327,145
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,531,286
Other Expenses$183,141
Salaries, Compensation, and Employee Benefits$6,689
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,531,286--$1,531,286
Fees for Services Management-$115,455-$115,455
Fees for Services Accounting-$26,322-$26,322
Insurance-$25,818-$25,818
Information Technology-$9,488-$9,488
Current Officers, Directors, Trustees, and Key Employees-$6,689-$6,689
Fees for Services Legal-$3,019-$3,019
Other Expenses$451$828-$1,279
Occupancy-$1,009-$1,009
Office Expenses-$751-$751
Total Functional Expenses$1,531,737$189,379$0$1,721,116

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,721,116
Total Expenses per Audited Statements$1,721,116
Total Expenses per Form 990$1,721,116
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
America VotesWashington, DC501(c)(4)Civil Rights, Social Action, and Advocacy$1,530,786
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“Impetus fund contracts with arabella advisors, a company with expertise in philanthropy and nonprofit management, to provide administrative support, accounting services, and legal guidance related to the fund's grantmaking and operations. Compensation paid to arabella advisors in exchange for these services totaled $115,455 during the fiscal year-ending june 30, 2022.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by an independent tax accountant and reviewed by the organization's legal counsel and board of directors prior to filing with the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“All board members are required to disclose conflicts of interest. The policy is monitored at the board level. Covered individuals cannot vote on matters before the board when they have a conflict in the matter. Disinterested members must determine whether or not there are any suitable alternatives to potential transactions that cause conflict. If a covered person is found in violation of this policy, it may be cause for removal from the board of directors.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, financial statements, and conflict of interest policy are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Impetus Fund
EIN
85-1701143
Phone
2026612180
Address
1200 G STREET NW 800, WASHINGTON, DC 20005

Signing Officer

Name
Ezra Reese
Title
President and Chair
Phone
2026612180
Signed
2023-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ezra Reese
Formed
2020
Legal Domicile
Dc
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Moss Adams Llp
Address
101 SECOND STREET SUITE 900, SAN FRANCISCO, CA 94105
Preparer
Michael Lumsden
Phone
4159561500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The fund is exempt from federal income tax under section 501(a) of the internal revenue code as an organization described in section 501(c)(4). The internal revenue service recognizes the fund's status as a social welfare organization. The fund's income tax returns are subject to review and examination by federal and state authorities. The fund is not aware of any activities that would jeopardize its tax-exempt status. The fund does not have any material uncertain tax positions. The fund files informational tax returns in the u.s. Federal and state jurisdictions.”

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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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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0IMPETUS FUND REQUIRES A WRITTEN GRANT APPLICATION STATING THE PURPOSE FOR THE USE OF FUNDS. GRANTS ARE ISSUED IF, AFTER THE REVIEW AND EVALUATION OF THE APPLICATION, THE USE MEETS THE NECESSARY REQUIREMENTS. FUNDS MAY NOT BE USED TO SUPPORT OR OPPOSE ANY CANDIDATE FOR PUBLIC OFFICE OR TO ENGAGE IN ANY POLITICAL ACTIVITY.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
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IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt02295899
IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED (DEFINED AS EACH SEPARATE GIFT, RATHER THAN EACH SHARE RECEIVED).
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IMPETUS FUND CONTRACTS WITH ARABELLA ADVISORS, A COMPANY WITH EXPERTISE IN PHILANTHROPY AND NONPROFIT MANAGEMENT, TO PROVIDE ADMINISTRATIVE SUPPORT, ACCOUNTING SERVICES, AND LEGAL GUIDANCE RELATED TO THE FUND'S GRANTMAKING AND OPERATIONS. COMPENSATION PAID TO ARABELLA ADVISORS IN EXCHANGE FOR THESE SERVICES TOTALED $115,455 DURING THE FISCAL YEAR-ENDING JUNE 30, 2022.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX ACCOUNTANT AND REVIEWED BY THE ORGANIZATION'S LEGAL COUNSEL AND BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL BOARD MEMBERS ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST. THE POLICY IS MONITORED AT THE BOARD LEVEL. COVERED INDIVIDUALS CANNOT VOTE ON MATTERS BEFORE THE BOARD WHEN THEY HAVE A CONFLICT IN THE MATTER. DISINTERESTED MEMBERS MUST DETERMINE WHETHER OR NOT THERE ARE ANY SUITABLE ALTERNATIVES TO POTENTIAL TRANSACTIONS THAT CAUSE CONFLICT. IF A COVERED PERSON IS FOUND IN VIOLATION OF THIS POLICY, IT MAY BE CAUSE FOR REMOVAL FROM THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalCompGreaterThan150KInd00
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IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0189379
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01531737
IRS990/TotalFunctionalExpensesGrp/TotalAmt01721116
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt031246
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02327145
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01200 G STREET NW 800
IRS990/USAddress/CityNm0WASHINGTON
IRS990/USAddress/StateAbbreviationCd0DC
IRS990/USAddress/ZIPCd020005
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EZRA REESE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum02026612180
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IMPETUS FUND
ReturnHeader/Filer/BusinessNameControlTxt0IMPE
ReturnHeader/Filer/EIN0851701143
ReturnHeader/Filer/PhoneNum02026612180
ReturnHeader/Filer/USAddress/AddressLine1Txt01200 G STREET NW 800
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0DC
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0910189318
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MOSS ADAMS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0101 SECOND STREET SUITE 900
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAN FRANCISCO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094105
ReturnHeader/PreparerPersonGrp/PhoneNum04159561500
ReturnHeader/PreparerPersonGrp/PreparationDt02023-05-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL LUMSDEN
ReturnHeader/ReturnTs02023-05-12T14:24:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0EZRA
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0REESE
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,330,441
Liabilities
$14,341
Net assets
$1,316,100
Revenue
$2,327,145
Expenses
$1,721,116
Net income
$606,029
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$16.4$1.24$15.2$20.2$7.57$12.6
2023Detailed filing. Detailed filing data is available for this year.$2.67$0.09$2.58$3.83$2.56$1.26
2022Detailed filing. Detailed filing data is available for this year.$1.33$0.01$1.32$2.33$1.72$0.61
2021Detailed filing. Detailed filing data is available for this year.$0.79$0.08$0.71$68.6$67.8$0.71