Impact Inc

Analysis

Impact Inc is a registered charity in United States, based in Middletown, CT. It received its IRS tax-exemption ruling in June 1965, 61 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Impact Inc reported income of $10.8m and spending of $10.9m, spending 101% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.4m to $10.8m (+47%), an average of +10% a year. The sharpest change came in the year to June 2020, when income rose by 19%. Over the whole period it spent 96% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Impact Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within CT. Charities of a similar size with the same main cause include Center of Hope Foundation Incorporated ($10.8m), YMCA of Greater Springfield Inc ($10.8m) and Webster Cantrell Youth Advocacy ($10.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% and program service revenue 5.0% of the total. Compensation of current officers, directors and key employees was $287k (2.6% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $8.8m against liabilities of $4.9m, net assets of $3.9m. It reported 219 employees.