2024-10-04T10:11:44-05:00 2023-12-31 203985546 JOHNSON O'CONNOR FERON & CARUCCI LLP 101 EDGEWATER DRIVE SUITE 210 WAKEFIELD MA 01880 990 2023-01-01 831851237 IMPACT INNOVATORS AND ENTREPRENEURS FOUNDATION IMPA 3038954411 10520 CHAPEL HILL ROAD 766 MORRISVILLE NC 27560 ARUNKUMAR VENKATESAN SECRETARY 3038954411 2024-10-03 1 0 JOSEPH GISO P00030126 7819143400 2024-10-03 2023 2024-10-15 13:58:12Z X ARUNKUMAR VENKATESAN 10520 CHAPEL HILL ROAD 766 MORRISVILLE NC 27560 1035885 0 X N/A X 2017 DE TO CREATE AN IMPACT ON THE LIVES OF THE DISADVANTAGED, UNDER-SERVED POPULATIONS BY NURTURING MODELS OF INNOVATION AND ENTREPRENEURSHIP. 6 5 2 6 0 0 743517 1035885 1296 0 0 0 0 0 744813 1035885 429964 322864 0 0 84155 122994 0 0 0 185329 188938 699448 634796 45365 401089 990416 1392583 0 1078 990416 1391505 TO CREATE AN IMPACT ON THE LIVES OF THE DISADVANTAGED, UNDER-SERVED POPULATIONS BY NURTURING MODELS OF INNOVATION AND ENTREPRENEURSHIP. 0 0 550492 322864 0 THE IMPACT INNOVATORS & ENTREPRENEURS FOUNDATION'S PRIMARY PURPOSE IS TO CREATE AN IMPACT ON THE LIVES OF THE DISADVANTAGED, UNDER-SERVED POPULATIONS BY NURTURING MODELS OF INNOVATION AND ENTREPRENEURSHIP THAT SERVE THESE POPULATIONS DIRECTLY. TO THIS EFFECT WE HAVE DIRECTLY ENABLED ABOUT 10 ENTERPRISES THROUGH INVESTMENTS, LOAN GUARANTEE PROGRAMS AND ADVISORY AND INDIRECTLY SUPPORTED OVER 100 ENTERPRISES, THROUGH TRAINING AND ADVISORY SUPPORT TO 40 INCUBATORS (ENTREPRENEUR SUPPORT ORGANIZATIONS) ACCROSS SOUTH EAST ASIA, SOUTH ASIA AND AFRICA. 550492 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 4 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 0 0 X ARUNKUMAR VENKATESAN 3038954411 10520 CHAPEL HILL ROAD 766 MORRISVILLE NC 27560 ARIELLE MOLINO CHIEF CONVENER 40.00 X X 50000 0 0 ARUNKUMAR VENKATESAN CEO/DIRECTOR/SECRETARY 40.00 X X 44100 0 10835 AZAD OOMMEN TREASURER 0.25 X X 0 0 0 JASMIN PATEL CHAIR 0.25 X X 0 0 0 JENNY EVERETT DIRECTOR 0.25 X 0 0 0 NADINE FREEMAN DIRECTOR 0.25 X 0 0 0 PAUL BASIL DIRECTOR 0.25 X 0 0 0 94100 0 10835 0 0 0 0 0 210885 825000 1035885 1035885 0 0 0 X 322864 322864 94100 75280 18820 10835 8668 2167 18059 14447 3612 3284 3284 28640 28640 102436 81950 20486 12466 12466 748 748 13594 13594 18751 15001 3750 7777 6222 1555 BUSINESS REGISTRATION F 539 539 MISCELLANEOUS 413 413 LICENSES & PERMITS 290 290 634796 550492 84304 0 524817 789614 6188 0 374411 517969 85000 85000 990416 1392583 0 1078 0 1078 X 990416 1391505 990416 1391505 990416 1392583 401089 0 X 0 0 0 X 55000 743517 1035885 1834402 55000 743517 1035885 1834402 1349290 485112 1834402 251249 0.26450 0.26530 X THE ORGANIZATION NORMALLY RECEIVES AT LEAST 10% OF ITS TOTAL SUPPORT FROM PUBLIC SOURCES AS SEEN IN THE PUBLIC SUPPORT SCHEDULES FROM PRIOR YEARS, WITH THE EXCEPTION OF A FEW EXTRAORDINARY CONTRIBUTIONS MADE FOR THE PURPOSE OF INITIAL FUNDING OF THE ORGANIZATION AND ITS PROGRAMS. DUE TO THE GEOGRAPHIC LOCATIONS OF THE CHARITABLE WORK PERFORMED BY THE ORGANIZATIONS, THE FUNDING APPEAL HAS BEEN RESTRICTED TO SPECIFIC FOUNDATIONS DOING WORK IN THAT GEOGRAPHIC AREA. IN 2023, THE ORGANIZATION TOOK A NEW STRATEGIC DIRECTION TO DEEPEN ITS WORK WHILE EXPANDING ITS GEOGRAPHIC FOCUS. ONE OF OUR MAJOR GRANTS SUPPORTED THIS TRANSITION IN THE NATURE OF HOW THE ORGANIZATION DELIVERS ITS WORK. THE ORGANIZATION IS WORKING DILIGENTLY TO EXPAND THEIR FUNDING REQUEST TO APPEAL TO A MUCH LARGER BASE OF FUNDING RESOURCES BY THE PROMOTION OF THEIR WORK AND ITS IMPACT ON A DIVERSE POPULATION DESPITE ITS GEOGRAPHICAL PARAMETERS. THE ORGANIZATION MAINTAINS FUNDRAISING PROGRAMS TO HELP SUPPORT ITS WORK, INCLUDING EFFORTS TO PRODUCE AND DISSEMINATE INSIGHTS ON THE IMPACT INCUBATION AND ENTREPRENEURSHIP ECOSYSTEM. THE ORGANIZATION FUNDRAISES ON A CONTINUING BASIS IN ORDER TO CONSTANTLY TRY TO APPEAL TO NEW AND OLD DONORS. IT SOLICITS FUNDS USING ONLINE AND IN-PERSON FUNDRAISING EVENTS AND DIRECT APPEALS IN WHICH DONATIONS ARE SOLICITED FROM ORGANIZATIONS AND INDIVIDUALS WHO HAVE DONATED TO THE ORGANIZATION IN PRIOR YEARS AS WELL AS NEW POTENTIAL DONORS. THE ORGANIZATION IS LAUNCHING A MEMBERSHIP CAMPAIGN TO GARNER FINANCIAL CONTRIBUTIONS FROM CLOSELY ALIGNED ALLIES IN SUPPORT OF THE ORGANIZATION'S WORK, AS WELL AS REGIONAL AND GLOBAL EVENTS WHICH WILL APPEAL TO NEW DOMESTIC AND INTERNATIONAL DONORS.THE BOARD OF DIRECTORS ALSO WORKS DILIGENTLY TO EDUCATE INDIVIDUALS ON THE IMPORTANCE OF THE MISSION. THE CEO/DIRECTOR AND THE BOARD OF THE ORGANIZATION MEETS AT FOUR TIMES PER YEAR TO CHECK ON PROGRESS AND OPERATIONS OF THE ORGANIZATION. THE ORGANIZATION HAS A REPRESENTATIVE GOVERNING BODY WITH VARIED BACKGROUNDS IN CONNECTION WITH OUR WORK. THE BOARD INCLUDES INDIVIDUALS WITH BACKGROUNDS IN FINANCE, INVESTMENTS, EDUCATION, ENTREPRENEURSHIP, AND NON-PROFIT MANAGEMENT.THE ORGANIZATION'S PRIMARY PURPOSE IS TO CREATE A SUSTAINBLE IMPACT ON THE LIVES OF THE DISADVANTAGED, UNDER-SERVED POPULATIONS BY NURTURING MODELS OF INNOVATION AND ENTREPRENEURSHIP THAT SERVE THESE POPULATIONS DIRECTLY. TO THIS EFFECT WE HAVE DIRECTLY ENABLED ABOUT 10 ENTERPRISES THROUGH INVESTMENTS, LOAN GUARANTEE PROGRAMS AND ADVISORY AND INDIRECTLY SUPPORTED OVER 78,000 ENTERPRISES, THROUGH DEDICATED TRAINING AND ADVISORY SUPPORT TO 100 INCUBATORS (ENTREPRENEUR SUPPORT ORGANIZATIONS) AND PROVIDED TOOLS, RESOURCES, AND SHARED SOLUTIONS THROUGH OVER 21 VIRTUAL EVENTS IN 2023 REACHING TO 1,300+ INDIVIDUALS WORKING IN INCUBATION ACROSS SOUTHEAST ASIA, SOUTH ASIA AND AFRICA. SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: LEVERAGING TECH TO SUPPORT FLHW PROJECT DATE: 09/01/21 AMOUNT: 125000. DESCRIPTION: BLDG LOCAL RESILIENCE IN AFRICA DATE: 12/01/20 AMOUNT: 55000. DESCRIPTION: DESIGN & LAUNCH OF INCUBATION-AFFILIATED FUND IN AFRICA DATE: 06/01/21 AMOUNT: 131500. DESCRIPTION: SUPPORT INVENTION-BASED ENTERPRISES IN INDIA DATE: 05/08/19 AMOUNT: 835382. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 517969 C 517969 SECURITY DEPOSIT 85000 85000 CREDIT CARDS PAYABLE 1078 1078 1 SUB-SAHARAN AFRICA 0 0 GRANTS 118837 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 INVESTMENTS 517969 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 GRANTS 204027 0 0 0 0 0 0 840833 0 840833 SUB-SAHARAN AFRICA SUBAWARD 118837 WIRE 0 SOUTH ASIA SUBAWARD 204027 WIRE 0 2 0 0 0 0 1 0 PART I, LINE 2: SUBAWARD RECIPIENT IS REQUIRED TO PROVIDE PERIODIC REPORTING AS MANDATED BY THE GRANTOR. REPORTS REGARDING MILESTONES ACHIEVED ARE SUBMITTED TO IMPACT INNOVATORS AND ENTREPRENEURS FOUNDATION AND, SUBSEQUENTLY, TO THE GRANTOR. ALL GRANT TRANCHES ARE RELEASED, AFTER REVIEW, BASED ON MILESTONE COMPLETION. FORM 990, PART VI, SECTION B, LINE 11B IMPACT INNOVATORS AND ENTREPRENEURS FOUNDATION'S (IIEF) FORM 990 IS PREPARED WITH THE ASSISTANCE OF AN OUTSIDE ACCOUNTING FIRM. A COPY OF THE COMPLETED FORM 990 IS DISTRIBUTED ELECTRONICALLY TO MEMBERS OF THE GOVERNING BODY PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL MEMBERS OF THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST BY COMPLETING A QUESTIONNAIRE ANNUALLY. IF A CONFLICT OF INTEREST IS DEEMED TO EXIST, IT IS THE DUTY OF THE INDIVIDUALS TO DISCLOSE SUCH INTEREST. THIS INTEREST IS TO BE RECORDED IN THE MINUTES OF THE MEETING OF THE BOARD AND WHERE THE CONFLICT CONCERNS ANY BOARD OR COMMITTEE MEMBER, THE INDIVUDAL(S) SHALL NOT PARTICIPATE IN ANY VOTE OR DELIBERATION ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE REVIEWS THE CEO/DIRECTOR'S PERFORMANCE IN CONNECTION WITH PREVIOUSLY ESTABLISHED GOALS ALONG WITH ACCOMPLISHMENTS RELATIVE TO CURRENT SALARY AND MARKET CONDITIONS. BASED UPON THIS REVIEW, THE EXECUTIVE COMMITTEE PRESENTS ITS ASSESSMENT AND RECOMMENDED COMPENSATION ADJUSTMENTS TO THE BOARD IN EXECUTIVE SESSION, FOR ITS APPROVAL. IN ADDITION, THE BOARD CHAIR SOLICITS COMMENTS ON THE CEO/DIRECTOR'S PERFORMANCE FROM ALL BOARD MEMBERS. BASED ON ALL OF THE PROCEEDING FEEDBACK, THE BOARD CHAIR MEETS WITH THE CEO/DIRECTOR FOR FORMAL REVIEW, INCLUDING PRESENTATION OF SALARY ADJUSTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATIONS' GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 81,458. MANAGEMENT AND GENERAL EXPENSES 20,363. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 101,821. PAYROLL FEES: PROGRAM SERVICE EXPENSES 492. MANAGEMENT AND GENERAL EXPENSES 123. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 615.