Impact-u Foundation Inc

Nonprofit profile at a glance

EIN
844954490
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022, Form 990-N 2020
Location
East Boston, MA, USA
Phone
9176509272
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$103,229
Expenses
$56,638
Assets
$176,452
Liabilities
$11,140

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

Leadership & pay

5 people listed

Executive titles in this filing

  • LILIANA ARROYAVE OSORNO (PRESIDENT)

People named in this filing

  • CLARA CORREA (DIRECTOR)
  • SANTIAGO ALVAREZ (DIRECTOR)
  • LILIANA ARROYAVE OSORNO (PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

We identify students facing economic hardship with their living expenses and at risk of dropping out. Students receive financial assistance and integral support, so they can be financially secure and build skills outside of their academic curriculum to succeed in the labor market

What it reported doing in 2024

Supported twenty-two bright and impoverished college students from vulnerable communities in colombia with financial assistance and educational resources they needed to be competitive in the labor market.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - Most voting board members are independent and program spending has grown recently. A relatively small share of available resources goes toward mission work and the filing reports few safeguards for money sent abroad.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 55
  • Accountability: 70
  • Sustainability: 75
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 49.5%; rating input score 49
  • Program expense ratio: 90.2%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • 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: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 45.1%; rating input score 90; 90th percentile among comparable filings
  • Total-asset coverage ratio: 3.12; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 59.1% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 39.4% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 44.3% per year; rating input score 100; 95th percentile among comparable filings

Details

  • Where the money goes: 49.5% of revenue deployed · 90.2% of spending went to programs
  • Governance: 5 of 5 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $51K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 49/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.