Civic Intelligence

Impetus Fund

990 • Fiscal year 2023 • EIN 85-1701143

Jul 01, 2022 to Jun 30, 2023 • Filed on May 09, 2024

Organization ProfileWWW.IMPETUSFUND.ORG
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

36th percentile

0.03x

Higher debt load relative to assets than 36% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

0.02x

Higher debt load relative to revenue than 27% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Net Margin

78th percentile

33%

Higher net margin than 78% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

47th percentile

$8,025

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Asset Growth

95th percentile

100%

Faster asset growth than 95% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

88th percentile

64%

Faster revenue growth than 88% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$2,666,747

Up $1,336,306 (+100%) from 2022

Net Assets

Up

$2,577,917

Up $1,261,817 (+96%) from 2022

Liabilities

Up

$88,830

Up $74,489 (+519%) from 2022

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin78th percentile

Revenue

Up

$3,825,682

Up $1,498,537 (+64%) from 2022

Expenses

Up

$2,563,865

Up $842,749 (+49%) from 2022

Net Income

Up

$1,261,817

Up $655,788 (+108%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth95th 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

2023

Assets$2,666,747
Liabilities$88,830
Net Assets$2,577,917
Open 2023 Filing

Operations Trend

Revenue Growth88th 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

2023

Revenue$3,825,682
Expenses$2,563,865
Net Income$1,261,817
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 9, 2024
Return Version
2022v5.0
Gross Receipts
$7,609,288
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$1,206,528$1,858,481▲ $651,953
Savings and Temporary Cash Investments$118,525$805,608▲ $687,083
Prepaid Expenses and Deferred Charges$5,388$2,658▼ $2,730
Total Assets$1,330,441$2,666,747▲ $1,336,306
Liabilities
Accounts Payable and Accrued Expenses$14,341$88,830▲ $74,489
Total Liabilities$14,341$88,830▲ $74,489
Net Assets / Fund Balance
Net Assets With Donor Restrictions$662,858$1,930,138▲ $1,267,280
Net Assets Without Donor Restrictions$653,242$647,779▼ $5,463
Total Net Assets Fund Balance$1,316,100$2,577,917▲ $1,261,817
Total Liabilities and Net Assets / Fund Balance$1,330,441$2,666,747▲ $1,336,306
Compensation and Service Providers
Top Officer Pay47th percentile

Employees

NameTitleBaseTotal
Saurabh GuptaGeneral Counsel$8,025$8,025

Board Members and Trustees

NameTitle
Ezra ReesePresident and Chair
Andrew SchulzSecretary
Falona JoyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,783,606
Program Service Revenue
$0
Investment Income
$13,261
Other Revenue
$28,815
All Other Contributions
$3,783,606
Change in Net Assets
$1,261,817

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 Traded11$3,783,606Fair Market Value
Total Noncash Contributions11$3,783,606-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,825,682
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,825,682
Total Revenue per Form 990
$3,825,682
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$2,175,199
Other Expenses$380,641
Salaries, Compensation, and Employee Benefits$8,025
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$2,175,199--$2,175,199
Fees for Services Management-$204,597-$204,597
Fees for Services Lobbying$122,564--$122,564
Fees for Services Accounting-$29,501-$29,501
Insurance-$19,087-$19,087
Current Officers, Directors, Trustees, and Key Employees-$8,025-$8,025
Other Expenses$1,496$12-$1,508
Fees for Services Legal-$1,266-$1,266
Information Technology-$1,157-$1,157
Occupancy-$811-$811
Fees for Services Other$150--$150
Total Functional Expenses$2,299,409$264,456$0$2,563,865

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,563,865
Total Expenses per Audited Statements$2,563,865
Total Expenses per Form 990$2,563,865
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$2,175,199
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 $204,597 during the fiscal year-ending june 30, 2023.”

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
2024-05-09
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.
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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 $204,597 DURING THE FISCAL YEAR-ENDING JUNE 30, 2023.
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/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02299409
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IRS990/WebsiteAddressTxt0WWW.IMPETUSFUND.ORG
IRS990/WhistleblowerPolicyInd01
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EZRA REESE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum02026612180
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-09
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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/PreparationDt02024-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL LUMSDEN
ReturnHeader/ReturnTs02024-05-14T19:50:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0EZRA
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ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,666,747
Liabilities
$88,830
Net assets
$2,577,917
Revenue
$3,825,682
Expenses
$2,563,865
Net income
$1,261,817
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