The IMPAC Fund Inc

Nonprofit profile at a glance

EIN
821512029
IRS 990 coverage
2017–2022
Forms available
Form 990 2022
Location
Coral Gables, FL, USA
Phone
3057893503
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Ethnic, Immigrant Centers

Reported finances

Revenue
$9,198
Expenses
$296,897
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

33 people listed

Executive titles in this filing

  • Miguel Fernandez (President)

People named in this filing

  • Miguel Fernandez (President)
  • Cesar Alvarez (Treasurer)
  • David Lawrence Jr (Secretary)

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 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Impac Fund focuses on family unity and works towards protecting the individual rights of immigrants. Impac brings together business and civic leaders in Florida who support policies and practices of government and private organizations that recognize the important contributions that immigrants make to their local economies and communities. Our organization's efforts will be focused towards fundraising for the defense of non-felon undocumented residents to protect families. We recognize the importance that immigrants represent to the fiber of our community and its economic wellbeing.

What it reported doing in 2022

The Impac Fund, Inc. supports other 501(C)(3) organizations such as the American Business Immigration Coalition. These other 501(C)(3) organizations promote practical and comprehensive immigration reform that benefit the people and the economy.

Operating model

Revenue model
Donor-supported. 98% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

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: 89
  • Transparency & Controls: 94
  • Accountability: 76
  • Sustainability: 9
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • 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; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: -3,127.8%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -15.3% per year; rating input score 0; 24th percentile among comparable filings
  • Revenue growth: -41.8% per year; rating input score 0; 11th percentile among comparable filings
  • Asset growth: -41.8% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 33 of 33 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $297K in reported program spending
  • Leadership: top reported pay $0 · 33 people listed
  • Consistency: 14 of 14 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2017 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.