Impact 100 is in its 10th year as a 501(c) (3) non-profit organization. Over $1.8 million have been awarded in grants over the past 9 years. This report shows highlights of our fiscal year from January, 2009 through December, 2009, in which we granted two awards of $103,000 each to Lighthouse Youth Services and The Economic Center for Education & Research. In 2010, two grants of $109,000 each were awarded to Dress for Success Cincinnati, and Starfire Council.
Not captured in Impact 100’s formal Financial Statements are the countless and valuable hours of service by Board Members, Focus Area Committee Members, Annual Meeting and Event Volunteers, and other Members. These hours are priceless.
In total, Impact 100 received $266,872 during 2009. Following is a breakdown of the revenue:
Member Gifts for Grant Funding: $227,075
This included funding primarily for 2010 grants with some carryover from 2009.
Contributions for Operations: $17,474
Because 100% of member’s $1000 donations are awarded for grants, additional contributions for operations must be raised. As part of our 110% campaign (including extra funds from stock gifts), members contributed $5,779. Matching gifts from companies contributed $7,025. Foundation gifts were $4,000 and friends contributed $670.
Interest Income: $5,667
Impact 100 was able to earn modest interest from Member and Friend donations, invested for the holding period prior to grant awards.
Member and Recruiting Event Revenue: $16,656
Some of our events included registrations fees from members and guests as well donation jars to offset expenses — these totaled $11,071. In addition, sponsors contributed $5,585 to make these events a success.
In total, Impact 100 spent $251,259 during 2009. Following is a breakdown of the expenses:
2009 Grant Awards: $206,000
Member and Recruiting Events: $14,742
Events provide opportunities for Members and potential Members to meet one another and learn about Impact 100 and local non-profits. Included $7,395 for the Annual Awards Celebration, and the remainder for education, information sharing, and social events.
Professional Services: $13,349
Included $5,676 for independent contractor to manage member database and other administrative functions; $3,857 for formal financial audit; $405 for Better Business Bureau annual fee; $1,246 for general liability and Directors and Officers insurance; $2,165 in bank fees including credit card and online event registration fees.
Printing and Public Relations and Database Services: $13,851
Included $8,852 for advertising and external communications, $2,515 for newsletter printing, $1,732 for other event printing, and $429 for website, $323 for copying and other printing. The external communications included a one-time $5500 awareness video funded by a restricted grant issued in FY2008.
Office Expenses and Board Development: $3,317
Included $240 for annual PO Box rental fee, $2,011 for postage, $88 for office supplies, $413 for telephone, $565 for national conference.
Impact 100 ended FY2009 with $15,613 increase in net assets. Net assets at the end of the year were $301,830.
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