Commonwealth Impact Foundation Inc

Overview

Mission

The world has never experienced so much prosperity nor faced so many massive challenges. Commonwealth harnesses the same entrepreneurial talent that creates wealth to create more opportunity for everyone to flourish.

What it reported doing in 2024

Commonwealth impact foundation helps nonprofits and social ventures with demonstrated social impact access early-stage capital in the form of grants and low-interest loans. In 2024, commonwealth provided more than $7m in grant funding to world shoe fund to disrupt the chronic cycle of poverty and preventable disease in developing nations through advocacy, education, and access to footwear. In 2024, world shoe fund distributed more than 380,000 pairs of shoes for national health and hygiene initiatives and secured seven new country partnerships.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

Nonprofit profile at a glance

EIN
850781875
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-T 2024
Headquarters
Indianapolis, IN, USA
Phone
3174722020
Rating
92
Verdict
STRONG
Rating confidence
Standard
Sector
Economic Development

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 98
  • Transparency & Controls: 96
  • Accountability: 100
  • Sustainability: 33
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: $139.76 raised per $1 spent on fundraising; rating input score 89; 89th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.9%; rating input score 100; 42nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -41.8%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 1.01; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 60.5% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: -36% per year; rating input score 0; 0th percentile among comparable filings
  • Asset growth: -32.6% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $8.4M in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 29 of 30 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 3 annual filings from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 8 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

3 people listed

Source: IRS Form 990. Selected filing: FY2024.