Boston Impact Initiative Fund

Analysis

Boston Impact Initiative Fund is a registered charity in United States, based in Jamaica Plain, MA. It received its IRS tax-exemption ruling in August 2017, 9 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 supporting organisation (type i) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Boston Impact Initiative Fund reported income of $1.9m and spending of $2.1m, spending 110% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $479k to $1.9m (+306%), an average of +32% a year. The sharpest change came in the year to December 2019, when income rose by 185%. Over the whole period it spent 77% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Boston Impact Initiative Fund sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 85th percentile within MA. Charities of a similar size with the same main cause include Small Business Development Corporation of Orange County ($1.9m), Operating Engineers & Participating Employers Preapprentice Apprentice ($2.0m) and Stone Soup Group ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 84% and program service revenue 2.9% of the total. Compensation of current officers, directors and key employees was $215k (10% of expenses). Other salaries and wages came to $639k. At year end it held assets of $16.0m against liabilities of $13.1m, net assets of $2.9m. It reported 12 employees.