Impact Capital Managers Institute Inc

Nonprofit profile at a glance

EIN
832945292
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
New York, NY, USA
Phone
9174954241
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Professional Societies, Associations

Reported finances

Revenue
$322,964
Expenses
$617,420
Assets
$527,876
Liabilities
$652,965

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

Leadership & pay

11 people listed

Executive titles in this filing

  • MARIEKE SPENCE (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MARIEKE SPENCE (EXECUTIVE DIRECTOR): $170,000 total reported compensation
  • DIANE KULJU (DIRECTOR OF IMM & RESEARCH): $138,253 total reported compensation
  • GARRETT JASO (DIRECTOR OF COMMUNICATIONS & POLICY): $121,392 total reported compensation

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

Overview

Mission

The corporation shall work to foster, facilitate and support the development of private capital impact investing, social entrepreneurship and other innovative financing mechanisms to effect positive social change by, among other activities (a) creating and facilitating educational forums, trainings, workshops and programs; (b) facilitating and providing support for research and studies; (c) creating and disseminating or supporting the creation and dissemination of educational materials, training and impact measurement tools, and other resources; (d) developing and promoting collaborations and relationships designed to build and sustain educated, diverse, and dynamic communities of impact and enable the effective deployment of philanthropic and other resources in a mission-aligned manner; and (e) engaging in any and all other lawful activities incidental to and in pursuit of the foregoing purposes.

What it reported doing in 2024

The icm institute advanced talent development, research, and field-building to support the continued growth of impact investing with integrity. In partnership with the icm inc. Association, the institute orchestrated the fifth year of the mosaic fellowship, placing 26 top-performing graduate students at 25 member funds, and delivered a four-part curriculum-including an in-person orientation in New York city-along with networking and mentorship to accelerate their careers. With the icm lp advisory council, the institute launched an inaugural allocator perspectives research study surveying more than 40 leading institutional investors to inform a public field-building report in 2025. The institute also initiated a landmark study capturing insights from over 100 portfolio companies on the business value, methods, and opportunities to improve impact measurement and management. Additionally, the institute represented its perspective on advancing impact investing in private markets at external events and conferences to promote integrity, authenticity, and evidence-based practice across the field.

Operating model

Revenue model
Donor-supported. 99% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 94% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 75
  • Accountability: 84
  • Sustainability: 13
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 70.6%; rating input score 71
  • Fundraising efficiency: $16.85 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th 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: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -91.2%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 1.24; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 34.9%; rating input score 8; 8th percentile among comparable filings

Growth

  • Program expense growth: 22.7% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 4.9% per year; rating input score 100; 52nd percentile among comparable filings
  • Asset growth: 6.6% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 70.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $436K in reported program spending
  • Leadership: top reported pay $170K · 11 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.
  • High — Sustainability: Officer compensation ratio scored 8/100.