Building Impact Inc

Analysis

Building Impact Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in October 2024, 2 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 December 2023, Building Impact Inc reported income of $1.6m and spending of $1.5m, spending 91% of its income. Across the 2 years on record, from December 2019 to December 2023, income grew from $859k to $1.6m (+87%), an average of +88% a year. The sharpest change came in the year to December 2023, when income rose by 87%. Over the whole period it spent 85% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Building Impact Inc sits at the 83rd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Change Labs ($1.6m), Federal Alliance for Safe Homes -Flash Inc ($1.6m) and Hartford Community Loan Fund Inc ($1.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 100% of the total. Compensation of current officers, directors and key employees was $121k (8.3% of expenses). Other salaries and wages came to $625k. At year end it held assets of $971k against liabilities of $175k, net assets of $796k. It reported 12 employees.