Commonwealth Impact Foundation Inc

Analysis

Commonwealth Impact Foundation Inc is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in July 2020, 6 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, Commonwealth Impact Foundation Inc reported income of $5.5m and spending of $10.3m, spending 189% of what it took in. Across the 3 years on record, from December 2021 to December 2023, income fell from $5.8m to $5.5m (-5.0%), an average of -2.5% a year. The sharpest change came in the year to December 2022, when income rose by 103%. Over the whole period it spent 56% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Commonwealth Impact Foundation Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within IN. Charities of a similar size with the same main cause include Siskiyou Opportunity Center ($5.5m), Interim Community Development Association ($5.5m) and Jobs to Move America ($5.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% of the total. At year end it held assets of $11.0m against liabilities of $283k, net assets of $10.8m.