Civic Intelligence

Impact Capital

990 • Fiscal year 2016 • EIN 94-3196958

Jan 01, 2016 to Dec 31, 2016 • Filed on Jul 10, 2017

Organization Profilewww.impactcapital.org

View Organization Page

701 Pike StreetSeattle, WA 98101

(206) 587-3200

Siviq Scores

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

Liabilities / Assets

86th percentile

0.80x

Higher debt load relative to assets than 86% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

98th percentile

24.76x

Higher debt load relative to revenue than 98% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

3rd percentile

-105%

Higher net margin than 3% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

32nd percentile

$127,308

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 22.4% of source-year revenue.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

36th percentile

-0.8%

Faster asset growth than 36% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

3rd percentile

-62%

Faster revenue growth than 3% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets86th percentile

Assets

Down

$17,615,405

Down $138,957 (-0.8%) from 2015

Net Assets

Down

$3,521,074

Down $600,395 (-15%) from 2015

Liabilities

Up

$14,094,331

Up $461,438 (+3.4%) from 2015

Revenue And Expenses
Liabilities / Revenue98th percentileNet Margin3rd percentile

Revenue

Down

$569,188

Down $937,679 (-62%) from 2015

Expenses

Up

$1,169,583

Up $94,711 (+8.8%) from 2015

Net Income

Down

-$600,395

Down $1,032,390 (-239%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$30M$20M$10M$0Assets 2010: $24,536,725Liabilities 2010: $20,883,426Net Assets 2010: $3,653,2992010Assets 2011: $23,966,079Liabilities 2011: $21,184,647Net Assets 2011: $2,781,4322011Assets 2012: $23,199,551Liabilities 2012: $20,509,445Net Assets 2012: $2,690,1062012Assets 2013: $22,311,399Liabilities 2013: $18,901,966Net Assets 2013: $3,409,4332013Assets 2014: $21,041,680Liabilities 2014: $17,380,755Net Assets 2014: $3,660,9252014Assets 2015: $17,754,362Liabilities 2015: $13,632,893Net Assets 2015: $4,121,4692015Assets 2016: $17,615,405Liabilities 2016: $14,094,331Net Assets 2016: $3,521,0742016Assets 2017: $19,273,740Liabilities 2017: $15,127,082Net Assets 2017: $4,146,6582017Assets 2018: $18,551,847Liabilities 2018: $14,164,605Net Assets 2018: $4,387,2422018Assets 2019: $19,908,599Liabilities 2019: $15,078,205Net Assets 2019: $4,830,3942019Assets 2020: $24,308,333Liabilities 2020: $19,360,102Net Assets 2020: $4,948,2312020Assets 2021: $22,195,180Liabilities 2021: $16,576,112Net Assets 2021: $5,619,0682021Assets 2022: $22,764,384Liabilities 2022: $17,652,044Net Assets 2022: $5,112,3402022Assets 2023: $19,594,341Liabilities 2023: $14,174,131Net Assets 2023: $5,420,2102023Assets 2024: $19,443,981Liabilities 2024: $14,411,738Net Assets 2024: $5,032,2432024

Highlighted filing

2016

Assets$17,615,405
Liabilities$14,094,331
Net Assets$3,521,074
Open 2016 Filing

Operations Trend

Revenue Growth3rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,629,3242010Expenses 2011: $2,340,1202011Expenses 2012: $1,944,4682012Revenue 2013: $1,945,924Expenses 2013: $1,199,923Net Income 2013: $746,0012013Revenue 2014: $1,545,756Expenses 2014: $1,300,624Net Income 2014: $245,1322014Revenue 2015: $1,506,867Expenses 2015: $1,074,872Net Income 2015: $431,9952015Revenue 2016: $569,188Expenses 2016: $1,169,583Net Income 2016: -$600,3952016Revenue 2017: $1,907,967Expenses 2017: $1,282,383Net Income 2017: $625,5842017Revenue 2018: $1,231,661Expenses 2018: $991,077Net Income 2018: $240,5842018Revenue 2019: $1,243,404Expenses 2019: $800,252Net Income 2019: $443,1522019Revenue 2020: $1,337,984Expenses 2020: $922,435Net Income 2020: $415,5492020Revenue 2021: $1,412,202Expenses 2021: $969,195Net Income 2021: $443,0072021Revenue 2022: $961,614Expenses 2022: $1,468,342Net Income 2022: -$506,7282022Revenue 2023: $1,236,112Expenses 2023: $928,242Net Income 2023: $307,8702023Revenue 2024: $1,375,793Expenses 2024: $1,763,760Net Income 2024: -$387,9672024

Highlighted filing

2016

Revenue$569,188
Expenses$1,169,583
Net Income-$600,395
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jul 10, 2017
Return Version
2016v3.0
Gross Receipts
$1,181,184
Mission and Program Overview

Mission

Impact Capital is a community development financial institution that makes strategic investments in nonprofit organizations, tribal entities, and housing authorities to spur community development; including affordable housing, art and cultural centers, community facilities, and vibrant commercial districts. Our work transforms distressed communities and neighborhoods into healthy ones - good places to live, work, do business, and raise families.

Leading catalyst in building and advocating for equitable, vibrant, and sustainable communities. We provide access to capital to low- and moderate-income communities in the Northwest.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$11,299,580$9,356,266▼ $1,943,314
Other Notes and Loans Receivable, Net$4,748,845$7,453,168▲ $2,704,323
Pledges and Grants Receivable$1,030,000--
Cash and Non-Interest-Bearing Accounts-$722,268-
Investments Program Related$601,795$0▼ $601,795
Accounts Receivable$8,805$22,148▲ $13,343
Prepaid Expenses and Deferred Charges$40,811$21,802▼ $19,009
Land, Buildings, and Equipment, Net$4,588$3,610▼ $978
Total Assets$17,754,362$17,615,405▼ $138,957
Other Assets Total$19,938$36,143▲ $16,205
Liabilities
Unsecured Notes Loans Payable$13,500,000$14,000,000▲ $500,000
Accounts Payable and Accrued Expenses$47,653$57,810▲ $10,157
Other Liabilities$85,240$36,521▼ $48,719
Total Liabilities$13,632,893$14,094,331▲ $461,438
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,138,719$2,648,581▼ $490,138
Unrestricted Net Assets$982,750$872,493▼ $110,257
Total Net Assets Fund Balance$4,121,469$3,521,074▼ $600,395
Total Liabilities and Net Assets / Fund Balance$17,754,362$17,615,405▼ $138,957

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$79,779$79,779
Leasehold Improvements$3,610$3,087$6,697
Compensation and Service Providers
Top Officer Pay32nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Judith OlsenPresidentFT$123,600$3,708$127,308

Board Members and Trustees

NameTitle
Lowel KruegerBoard Chair
Kim HermanImmediate Past President
Saeed J HajarizadehVice Chair
Bryan KetchamBoard Member
Greg WinterBoard Member
Kim EthertonBoard Member
Leanne AntonioBoard Member
Mark SmithBoard Member
Maureen FifeBoard Member
Randy RobinsonBoard Member
Steve WalkerBoard Member
Doug PrinceSecretary
Susan DurenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$95,681
Program Service Revenue
$452,638
Investment Income
$20,869
Other Revenue
$0
All Other Contributions
$95,681
Change in Net Assets
$-600,395

Audited Revenue Reconciliation

Revenue per Audited Statements
$569,188
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$569,188
Total Revenue per Form 990
$569,188
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$641,914
Salaries, Compensation, and Employee Benefits$409,733
Grants and Similar Amounts Paid$117,936
Total Fundraising Expense$28,358
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$220,393$263$9$220,665
Other Salaries and Wages$119,722$80,737$6,838$207,297
Current Officers, Directors, Trustees, and Key Employees$73,525$49,583$4,200$127,308
Grants to Domestic Orgs$117,936--$117,936
Occupancy$40,442$61,065$4,797$106,304
Office Expenses$36,576$20,811$644$58,031
Fees for Services Accounting$18,587$33,433$3,379$55,399
Other Employee Benefits$22,310$15,045$1,274$38,629
Payroll Taxes$21,080$14,215$1,204$36,499
Fees for Services Other$6,384$11,483$1,161$19,028
Travel$6,933$5,452$2,949$15,334
Insurance$1,580$7,043$615$9,238
Depreciation Depletion-$7,675-$7,675
Other Expenses$7,761$5,443$698$5,443
Fees for Services Legal$1,503$2,703$273$4,479
Conferences and Meetings$2,229$275$310$2,814
Fees for Service Investment Mgmnt Fees$37$67$7$111
Total Functional Expenses$815,401$325,824$28,358$1,169,583

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,169,583
Total Expenses per Audited Statements$1,169,583
Total Expenses per Form 990$1,169,583
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of TacomaTacoma, WACity of Tacomasupport for public art project$104,000
Neighborhood Reinvestment CorpWashington, DC501(c)(3)training support$13,936
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
Interest Payable$19,806
Deferred Rent$16,715
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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
No

Governance Explanations

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

“A draft 990 was provided to the governing board via email and the Board members were given several days to make comments or ask questions regarding the draft. The Board then approved the draft of be finalized and filed with the IRS.”

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

“A conflict of interest disclosure form is provided to each board member annually. All board members returned their disclosure form prior to year-end and no conflicts were noted.”

Form 990, Part VI, Section B, line 15A

“For 2012 an ad hoc committee of the Board of Directors hired a consultant to do a search for a new Executive Director and to provide them with appropriate salary information based on similar positions in the Seattle area.”

Form 990, Part VI, Section C, line 19

“Documents are not available to the public.”

Filing and Contact Details

Filer

Filer Name
Impact Capital
EIN
94-3196958
Phone
2065873200
Address
701 Pike Street, Seattle, WA 98101

Signing Officer

Name
Judith Olsen
Title
President
Phone
2065873200
Signed
2017-07-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Judith Olsen
Formed
1993
Legal Domicile
Wa
Voting Board Members
11
Independent Board Members
11
Employees
8
Volunteers
27

Preparer

Firm
Peterson Sullivan LLP CPA'S
Address
601 Union St Ste 2300, Seattle, WA 98101-2345
Preparer
Nathan J Hartman
Phone
2063827777
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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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IRS990/Desc0Impact Capital manages two loan pools that provide loans to nonprofit organizations, housing authorities, and tribal entities, for the creation of affordable housing and community facilities. Affordable housing financed by Impact Capital services people typically at or below 80% of area median income. Community facilities provide access to services for low and moderate income people. Loans are used to fund property acquisition, predevelopment expenses or to bridge permanent capital. These are often transactions that do not meet the risk profiles of traditional bank lenders. Impact Capital was created to provide access to capital and other resources for underserved communities. Our lending provides a foundation for new development that attracts public and private permanent financing and serves as a needed catalyst for development. We help build equitable communities with clean, safe affordable housing, and access to services including parks, schools, and vibrant commercial corridors. In 2016, Impact Capital closed $11.19 million in loans.
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IRS990/InsuranceGrp/ManagementAndGeneralAmt07043
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IRS990/InterestGrp/FundraisingAmt09
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0Impact Capital is a community development financial institution that makes strategic investments in nonprofit organizations, tribal entities, and housing authorities to spur community development, including affordable housing, art and cultural centers, community facilities, and vibrant commercial districts. Our work transforms distressed communities and neighborhoods into healthy ones - good places to live, work, do business, and raise families.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/OccupancyGrp/TotalAmt0106304
IRS990/OfficeExpensesGrp/FundraisingAmt0644
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt020811
IRS990/OfficeExpensesGrp/ProgramServicesAmt036576
IRS990/OfficeExpensesGrp/TotalAmt058031
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IRS990/OtherChangesInNetAssetsAmt00
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IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt015045
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt022310
IRS990/OtherEmployeeBenefitsGrp/TotalAmt038629
IRS990/OtherExpensesGrp/Desc0Provision for Loan Loss
IRS990/OtherExpensesGrp/Desc1Dues and Subscriptions
IRS990/OtherExpensesGrp/Desc2Small Equipment
IRS990/OtherExpensesGrp/FundraisingAmt0698
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt010531
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt15443
IRS990/OtherExpensesGrp/ProgramServicesAmt0118403
IRS990/OtherExpensesGrp/ProgramServicesAmt17761
IRS990/OtherExpensesGrp/TotalAmt0118403
IRS990/OtherExpensesGrp/TotalAmt118990
IRS990/OtherExpensesGrp/TotalAmt25443
IRS990/OtherLiabilitiesGrp/BOYAmt085240
IRS990/OtherLiabilitiesGrp/EOYAmt036521
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt06838
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt080737
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0119722
IRS990/OtherSalariesAndWagesGrp/TotalAmt0207297
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt04748845
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt07453168
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01204
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt014215
IRS990/PayrollTaxesGrp/ProgramServicesAmt021080
IRS990/PayrollTaxesGrp/TotalAmt036499
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt01030000
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt040811
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt021802
IRS990/PrincipalOfficerNm0Judith Olsen
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IRS990/ProgramServiceRevenueGrp/Desc1Loan Fees
IRS990/ProgramServiceRevenueGrp/Desc2Training Income
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0372044
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt166581
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt214013
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0372044
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt166581
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt214013
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt01172864
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0-12199
IRS990/PYOtherExpensesAmt0577349
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0346202
IRS990/PYRevenuesLessExpensesAmt0431995
IRS990/PYSalariesCompEmpBnftPaidAmt0497523
IRS990/PYTotalExpensesAmt01074872
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01506867
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-600395
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0452638
IRS990/SavingsAndTempCashInvstGrp/BOYAmt011299580
IRS990/SavingsAndTempCashInvstGrp/EOYAmt09356266
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt095681
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt01172864
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0595698
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0977399
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0739438
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03581080
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt023455
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt029706
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt085419
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt096734
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt092078
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03754948
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IRS990ScheduleA/PublicSupportCY170Pct00.84010
IRS990ScheduleA/PublicSupportPY170Pct00.70940
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IRS990ScheduleA/SubstantialContributorsTotAmt0297482
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0977399
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0739438
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03581080
IRS990ScheduleA/TotalSupportAmt03908472
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt079779
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt079779
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt01169583
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IRS990ScheduleD/RevenueSubtotalAmt0569188
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IRS990ScheduleD/TotalExpensesPerForm990Amt01169583
IRS990ScheduleD/TotalLiabilityAmt036521

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,615,405
Liabilities
$14,094,331
Net assets
$3,521,074
Revenue
$569,188
Expenses
$1,169,583
Net income
-$600,395
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Summary only. Only limited summary data is available for this year.$19.4$14.4$5.03$1.38$1.76$0.39
2023Summary only. Only limited summary data is available for this year.$19.6$14.2$5.42$1.24$0.93$0.31
2022Summary only. Only limited summary data is available for this year.$22.8$17.7$5.11$0.96$1.47$0.51
2021Summary only. Only limited summary data is available for this year.$22.2$16.6$5.62$1.41$0.97$0.44
2020Summary only. Only limited summary data is available for this year.$24.3$19.4$4.95$1.34$0.92$0.42
2019Summary only. Only limited summary data is available for this year.$19.9$15.1$4.83$1.24$0.80$0.44
2018Summary only. Only limited summary data is available for this year.$18.6$14.2$4.39$1.23$0.99$0.24
2017Summary only. Only limited summary data is available for this year.$19.3$15.1$4.15$1.91$1.28$0.63
2016Detailed filing. Detailed filing data is available for this year.$17.6$14.1$3.52$0.57$1.17$0.60
2015Summary only. Only limited summary data is available for this year.$17.8$13.6$4.12$1.51$1.07$0.43
2014Summary only. Only limited summary data is available for this year.$21.0$17.4$3.66$1.55$1.30$0.25
2013Summary only. Only limited summary data is available for this year.$22.3$18.9$3.41$1.95$1.20$0.75
2012Summary only. Only limited summary data is available for this year.$23.2$20.5$2.69$1.94
2011Summary only. Only limited summary data is available for this year.$24.0$21.2$2.78$2.34
2010Summary only. Only limited summary data is available for this year.$24.5$20.9$3.65$1.63