Boston Impact Initiative Fund

Nonprofit profile at a glance

EIN
821543658
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Jamaica Plain, MA, USA
Phone
6177029132
Rating
64
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$5,409,152
Expenses
$2,777,855
Assets
$23,385,414
Liabilities
$18,284,831

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • BETTY FRANCISCO (CEO)

Highest reported compensation

  • BETTY FRANCISCO (CEO): $228,838 total reported compensation
  • HENRY NOEL (INVESTMENT DIRECTOR): $148,979 total reported compensation
  • ALIANA PINEIRO (IMPACT DIRECTOR): $144,003 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o

Operating model

Revenue model
Donor-supported. 83% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 43
  • Transparency & Controls: 70
  • Accountability: 87
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 32.6%; rating input score 33
  • Program expense ratio: 53%; rating input score 53
  • Fundraising efficiency: $22.81 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 10th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 17th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 48.6%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 8.42; rating input score 89; 89th percentile among comparable filings
  • Liabilities to assets ratio: 0.78; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 23.2%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 18.2% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 18.9% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 23.6% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 32.6% of revenue deployed · 53% of spending went to programs
  • Governance: 6 of 7 board members independent · 8 of 9 filing controls reported
  • Programs: 2 filed program accomplishments · $1.5M in reported program spending
  • Leadership: top reported pay $229K · 10 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $166K reported
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 4 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Mission deployment rate scored 33/100.
  • Review — Financial Efficiency: Program expense ratio scored 53/100.
  • Review — Accountability: Governance controls: Document-retention policy not reported.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.