Social Impact Partners Inc

Nonprofit profile at a glance

EIN
851704762
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Westport, CT, USA
Phone
9177515966
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations

Reported finances

Revenue
$5,191,530
Expenses
$2,640,465
Assets
$4,531,495
Liabilities
$359,771

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

Leadership & pay

23 people listed

Executive titles in this filing

  • Mark Argosh (Executive Director)

Highest reported compensation

  • Mark Argosh (Executive Director): $262,500 total reported compensation
  • Wendy Foster (Highly Comp. Employee): $189,000 total reported compensation
  • Christopher Rivers (Highly Comp. Employee): $188,352 total reported compensation

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

Overview

Mission

Social Impact Partners ("SIP") is an innovative nonprofit organization dedicated to closing the opportunity divide in Connecticut by expanding pathways to living wage jobs and economic mobility for all, working with partners across the nonprofit, business, higher education, and government sectors, at the local and statewide level, to advance equitable education and workforce systems and practices. SIP's vision is a thriving Connecticut where every person has equitable access to a high-quality education and sustainable livelihood.

What it reported doing in 2024

Social Impact Partners ("SIP") is an innovative nonprofit organization dedicated to closing the opportunity divide in Connecticut by expanding pathways to living wage jobs and economic mobility for all, working with partners across the nonprofit, business, higher education, and government sectors, at the local and statewide level, to advance equitable education and workforce systems and practices. SIP does this by developing and implementing strategies, building capacity and catalyzing high-impact initiatives that address critical gaps in early childhood care and education, redesign workforce development to meet 21st century challenges, and strengthen public higher education's capacity to support pathways to living-wage careers. Some key accomplishments include: supporting the development and implementation of the State of Connecticut's workforce development strategic plan, supporting the development and implementation of the State's early childhood care and education Blue Ribbon strategic plan, and developing strategic priorities and an investment case for Connecticut State Colleges and Universities to better meet the needs of students, the state and employers. SIP has also worked with more than 50 nonprofit organizations in local communities by providing thousands of volunteer hours of capacity support and strategic consulting to help these organizations strengthen, scale and enhance their programs and impact.

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 87% 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 total spending goes to programs and most voting board members are independent. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 65
  • Accountability: 100
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46.3%; rating input score 46
  • Program expense ratio: 89.9%; rating input score 90
  • Fundraising efficiency: $74.53 raised per $1 spent on fundraising; rating input score 83; 83rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 1st percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 96.7%; rating input score 97; 32nd 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: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • 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: 49.1%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 1.72; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.08; rating input score 63; 63rd percentile among comparable filings
  • Officer compensation ratio: 41%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 20.1% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 28% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 49.6% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 46.3% of revenue deployed · 89.9% of spending went to programs
  • Governance: 17 of 17 board members independent · 8 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $262K · 23 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 28 of 30 current checks pass · 2 findings to review
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 filed money-flow records
  • Related organizations: 6 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 46/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.