Civic Intelligence

Wam Impact Partners Inc

EIN 85-1734577 • 501(c)3 • Dover, DE

Profile

To provide a revolutionary mentoring experience to Black, Brown and traditionally underserved youth through a research backed and designed digital platform. This platform can help track learners social emotional growth, learning and character development overtime to give excucators and/or parents insight into how to help them mroe fully understand the choices and options available to the learner as they move toward adulthood.

1221 College Park DriveDover, DE 19904

www.wam.academy

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

35th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

65th percentile

13%

Higher net margin than 65% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

95th percentile

$167,455

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 20.9% of source-year revenue.

501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2022

Assets

$271,348

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Net Assets

$271,348

No earlier filing loaded for comparison.

Revenue

$800,000

No earlier filing loaded for comparison.

Expenses

$697,775

No earlier filing loaded for comparison.

Net Income

$102,225

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2022: $271,348Liabilities 2022: $0Net Assets 2022: $271,3482022

Highlighted filing

2022

Assets$271,348
Liabilities$0
Net Assets$271,348

Operations Trend

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

$800K$600K$400K$200K$0Revenue 2022: $800,000Expenses 2022: $697,775Net Income 2022: $102,2252022

Highlighted filing

2022

Revenue$800,000
Expenses$697,775
Net Income$102,225

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022Detailed filing. Detailed filing data is available for this year.$2.71$0.00$2.71$8.00$6.98$1.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Aug 29, 2023
Return Version
2022v5.0
Gross Receipts
$800,000
Mission and Program Overview

Mission

To provide a revolutionary mentoring experience to Black, Brown and traditionally underserved youth through a research backed and designed digital platform. This platform can help track learners social emotional growth, learning and character development overtime to give excucators and/or parents insight into how to help them mroe fully understand the choices and options available to the learner as they move toward adulthood.

To provide revolutionary mentoring experience to Black, Brown and traditionally underserved youth via a digital platform that tracks student social emotional grown and character development

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$169,123$271,348▲ $102,225
Cap Stk Tr Prin Current Funds$169,123$271,348▲ $102,225
Total Assets$169,123$271,348▲ $102,225
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$169,123$271,348▲ $102,225
Total Liabilities and Net Assets / Fund Balance$169,123$271,348▲ $102,225
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Christopher KingCEO/Executive DirectorFT$167,455$167,455
Christopher King--$167,455$167,455
Marie PrenticeChief Operating OfficerPT$45,434$45,434

Board Members and Trustees

NameTitle
Carolina LamontDirector
Sean HicksDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Christopher KingFundraising/ED/CEO6400 Cherrywood Ln Unit 2321, Calverton, MD 20705$167,455
Revenue and Support

Revenue Composition

Contributions and Grants
$800,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$800,000
Change in Net Assets
$102,225
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$449,886
Salaries, Compensation, and Employee Benefits$212,889
Total Fundraising Expense$169,271
Professional Fundraising Fees$35,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$17,500$84,869$110,520$212,889
Other Expenses$141,887$0$0$141,887
Fees for Services Management$97,802$0$0$97,802
Conferences and Meetings$55,400$0$8,303$63,703
Information Technology$58,000$0$0$58,000
Fees for Services Professional Fundraising--$35,000$35,000
Office Expenses$5,700$17,630$0$23,330
Travel$0$6,325$13,248$19,573
Fees for Services Legal$7,000$3,000$0$10,000
Occupancy$0$9,975$0$9,975
Advertising$7,452$0$2,200$9,652
Fees for Services Accounting$0$5,700$0$5,700
Total Functional Expenses$395,905$132,599$169,271$697,775
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$35,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
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
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
WAM Impact Partners Inc
EIN
85-1734577
Phone
2023200807
Address
1221 College Park Drive, Dover, DE 19904

Signing Officer

Name
Christopher King
Title
CEO
Phone
2023200807
Signed
2023-08-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Christopher King
Formed
2021
Legal Domicile
De
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
125

Preparer

Firm
The Discipling CPA LLC
Address
5878 Covington Hwy Ste G 1010, Decatur, GA 30035
Preparer
Lawron Ballard
Phone
4045375793
Supplemental Narrative

Additional Explanations

Other

Donor Information: We recieved our funding for 2022 from a Donor Advised Fund which comprises multiple donors and therefore meets the IRS 501(c)(3) regulations for recieving 33.33% of our funding from public support.

Pt VI, Line 11B

The process of reviewing the documents was that the COO pulled the numbers from the accounting system, a draft was sent to the CEO for review. Edits were made (mostly of descriptions, as the COO is not part of the daily intricate conversations around program.) The CEO then reviewed again and assigned out.

Pt VI, Line 19

When the organization was formed, the three directors agreed on what the purpose of the organization was and informal conversations between the three directors were had frequently about the pace and direction of the organization via phone, zoom and in person. Because 2022 was mostly a research and development year, there were not a significant amount of decisions to be made and therefore formal notes were not taken as they were not necessary.

Other

Pt VI, 12a: As the purpose of the orgnaization was decided, and 2022 was a research year there was not a need for a conflict of interest policy. There were checks and balances between the CEO and COO as to compliance and conflict of interest. In the interest of the growth of the organization, conversations were had between potential members of an initial board for either 2023 or 2024 have begun. Should there be a bord and over $5mm in donations, we are planning on implementing several of the governance suggestions within section VI B.

Pt VI, Line 2

Christopher King and Sean Hicks work together on a seperate joint venture "Theo Advisors." As demonstrated on the 990 form, Mr. Hicks WAM Impact Partners did not recieve any compensation from WAM Impact Partners in 2022 and recieved no other sort of compensation from the organization.

Pt VI, Line 15B

Please review schedule J for the reasoning for the decision on compensation regarding Mr. King

Pt IV

As the primary purpose for programmatic purppses for this year was for reasearch and devlopment to understand the need and devlop the programmatic needs for the learners we support, a major portion of the expenses for the year fall into the research and development category. This included companies, consultants, internal research time, site visits, etc. More information is available, but as these activities were not considered management, the best category was "other."

Pt VI, Line 7B

Governance of WAM Impact Partners is under the authority of the Board of Directors as of year end.

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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0According to G lassdoor, one of the most respected sites for the average payscale for executive level the consultant pay for a full time Executive Director is outlined below. This does not include any other compensation or benefits that would be included with Mr. King's experiece level (15+ years in the space) Full Time Executive Director Salary (BASE ONLY) Range: $165k-$485k Median Base: $157,607 Median Additional (Bonuses, etc.): $110,127 Federal Government Median: $193,128; Max: $255k+ Mr. King provided both Executive Director/CEO services as well as serving as the main contact for fundraising, essentially combining two contracted positions as the organization was not in a fiscal position to hire and fill both of those positions with full time employees. Mr. King also had other clients as required by the IRS regulations around consulting and with 15+ years of experience he was more than capable of performing his duties without daily supervision or reporting, again, per IRS regulations. Could WAM Impact Partners have affored Mr. King, the base package that he would have been willing to accept with his experience and network would have been $350k+ bonus and add'l employee compensation including thing such as health care, additional travel expenses and 401k.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1According to G lassdoor, one of the most respected sites for the average payscale for executive level the consultant pay for a full time Executive Director is outlined below. This does not include any other compensation or benefits that would be included with Mr. King's experiece level (15+ years in the space) Full Time Executive Director Salary (BASE ONLY) Range: $165k-$485k Median Base: $157,607 Median Additional (Bonuses, etc.): $110,127 Federal Government Median: $193,128; Max: $255k+
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt2Mr. King provided both Executive Director/CEO services as well as serving as the main contact for fundraising, essentially combining two contracted positions as the organization was not in a fiscal position to hire and fill both of those positions with full time employees. Mr. King also had other clients as required by the IRS regulations around consulting and with 15+ years of experience he was more than capable of performing his duties without daily supervision or reporting, again, per IRS regulations. Could WAM Impact Partners have affored Mr. King, the base package that he would have been willing to accept with his experience and network would have been $350k+ bonus and add'l employee compensation including thing such as health care, additional travel expenses and 401k.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Donor Information: We recieved our funding for 2022 from a Donor Advised Fund which comprises multiple donors and therefore meets the IRS 501(c)(3) regulations for recieving 33.33% of our funding from public support.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The process of reviewing the documents was that the COO pulled the numbers from the accounting system, a draft was sent to the CEO for review. Edits were made (mostly of descriptions, as the COO is not part of the daily intricate conversations around program.) The CEO then reviewed again and assigned out.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2When the organization was formed, the three directors agreed on what the purpose of the organization was and informal conversations between the three directors were had frequently about the pace and direction of the organization via phone, zoom and in person. Because 2022 was mostly a research and development year, there were not a significant amount of decisions to be made and therefore formal notes were not taken as they were not necessary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Pt VI, 12a: As the purpose of the orgnaization was decided, and 2022 was a research year there was not a need for a conflict of interest policy. There were checks and balances between the CEO and COO as to compliance and conflict of interest. In the interest of the growth of the organization, conversations were had between potential members of an initial board for either 2023 or 2024 have begun. Should there be a bord and over $5mm in donations, we are planning on implementing several of the governance suggestions within section VI B.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Christopher King and Sean Hicks work together on a seperate joint venture "Theo Advisors." As demonstrated on the 990 form, Mr. Hicks WAM Impact Partners did not recieve any compensation from WAM Impact Partners in 2022 and recieved no other sort of compensation from the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Please review schedule J for the reasoning for the decision on compensation regarding Mr. King
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6As the primary purpose for programmatic purppses for this year was for reasearch and devlopment to understand the need and devlop the programmatic needs for the learners we support, a major portion of the expenses for the year fall into the research and development category. This included companies, consultants, internal research time, site visits, etc. More information is available, but as these activities were not considered management, the best category was "other."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Governance of WAM Impact Partners is under the authority of the Board of Directors as of year end.
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