2023-08-11T13:21:10-05:00 2022-12-31 BDO USA PA 601 Union Street Suite 2300 Seattle WA 98101 990 2022-01-01 943196958 Impact Capital % LORA BOURELLE IMPA 2065873200 701 5th Ave Suite 5500 Seattle WA 98104 Joel Millar Executive Director 2065873200 2023-08-10 true Joel Millar 999009999 Matthew Frerker P01677675 2063827777 2023-08-10 2 2022 2023-04-26 12:10:37Z Joel Millar 701 5th Ave Suite 5500 Seattle WA 98104 961614 false X www.impactcapital.org X 1993 WA Impact Capital is a community development financial institution that makes strategic loans to organizations, tribal entities, and housing authorities to spur community development 8 8 4 0 7552 8819 1386133 938041 3017 14754 15500 0 1412202 961614 0 0 0 0 456372 471042 0 7090 96180 512823 990210 969195 1468342 443007 -506728 22195180 22764384 16576112 17652044 5619068 5112340 X IMPACT CAPITAL IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION THAT MAKES STRATEGIC LOANS IN ORGANIZATIONS, TRIBAL ENTITIES, AND HOUSING AUTHORITIES TO SPUR COMMUNITY DEVELOPMENT, INCLUDING AFFORDABLE HOUSING, ART AND CULTURAL CENTERS, COMMUNITY FACILITIES, AND VIBRANT COMMERCIAL DISTRICTS. OUR WORK TRANSFORMS DISTRESSED COMMUNITIES AND NEIGHBORHOODS INTO HEALTHY ONES - GOOD PLACES TO LIVE, WORK, DO BUSINESS, AND RAISE FAMILIES. false false 1236832 938041 Impact Capital manages two loan pools that provide loans to organizations, housing authorities, and tribal entities, for the creation of affordable housing and community facilities. Affordable housing financed by Impact Capital services people typically at or below 80% of area median income. Community facilities provide access to services for low and moderate income people. Loans are used to fund property acquisition, predevelopment expenses, or to bridge permanent capital. These are often transactions that do not meet the risk profiles of traditional bank lenders. Impact Capital was created to provide access to capital and other resources for underserved communities. Our lending provides a foundation for new development that attracts public and private permanent financing and serves as a needed catalyst for development. We help build equitable communities with clean, safe affordable housing, and access to services including parks, schools, and vibrant commercial corridors. In 2022, Impact Capital closed $12,136,703 in loans. 1236832 true true false false false false false false false false true false false false true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 4 0 true 4 true false false false false false false false false false false false false X 8 8 false false false false false false false true false false false true true true true true true true true false X LORA BOURELLE 2065873200 701 5TH AVE SUITE 5500 Seattle WA 98104 Joel Millar Executive Director 40.0 0.0 X 147000 0 4465 Lora Bourelle COO/CFO 40.0 0.0 X 126303 0 4615 Marcel Neff VP of Lending 40.0 0.0 X 105759 0 3173 Bryan Ketcham Board Chair 1.0 0.0 X X 0 0 0 Leanne Antonio Board Vice Chair 1.0 0.0 X X 0 0 0 Susan Duren Secretary/Treasurer 1.0 0.0 X X 0 0 0 Doug Prince Board Member 1.0 0.0 X 0 0 0 David Foreman Board Member 1.0 0.0 X 0 0 0 Lowel Krueger Board Member 1.0 0.0 X 0 0 0 Steve Walker Board Member 1.0 0.0 X 0 0 0 Kim Etherton Board Member 1.0 0.0 X 0 0 0 379062 0 12253 3 false true false 0 8819 8819 LOAN INTEREST 900099 822812 822812 LOAN FEES 900099 115229 115229 938041 14754 14754 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 961614 938041 14754 0 0 0 0 391315 249118 73393 68804 0 9277 5907 1738 1632 0 31495 20050 5907 5538 38955 24800 7306 6849 0 85053 85053 35696 35696 0 7090 7090 0 0 6974 5967 1007 24146 19232 2982 1932 0 0 15150 10453 2424 2273 11228 11228 0 0 295887 295887 0 4356 3005 697 654 13110 8522 4588 DUES AND SUBSCRIPTIONS 27721 26721 599 401 LOAN LOSS 427671 427671 BAD DEBT 43218 43218 1468342 1236832 135330 96180 7348716 268985 819711 6127554 0 0 175 43218 0 0 0 0 13830551 16236505 0 0 21105 6579 40482 38028 6810 2454 0 0 0 0 0 0 0 0 168112 79089 22195180 22764384 43528 83747 0 0 0 0 0 0 0 0 0 0 0 0 16478061 17478061 54523 90236 16576112 17652044 X 2501542 1994814 3117526 3117526 5619068 5112340 22195180 22764384 -506728 X false true X true false X 128092 52277 27981 7552 8819 224721 0 0 128092 52277 27981 7552 8819 224721 0 224721 3531 9093 4518 3017 14754 34913 0 15500 15500 275134 5911731 0.81677 0.90635 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 40482 38028 2454 2454 0 INTEREST PAYABLE 79936 OPERATING LEASE LIABILITY 10300 90236 961614 961614 961614 1468342 1468342 1468342 X X false false false false false false false false false Joel Millar Executive Director 147000 4465 151465 Form 990, Part I, Line 1, Description of Organization Mission: including affordable housing, art and cultural centers, community facilities, and vibrant commercial districts. Our work transforms distressed communities and neighborhoods into healthy ones - good places to live, work, do business, and raise families. Form 990, Part VI, Section A, Line 8B: The only meetings that have minutes are the Board Meeting and the loan committee meeting. Notes are not taken at the executive/finance committee. That meeting only has an agenda and relevant documentation. Form 990, Part VI, Section B, Line 11B: A draft 990 is provided to the governing board via presentation by the management. The Board then approves the draft to be finalized and filed with the IRS. Form 990, Part VI, Section B, Line 12C: A conflict of interest disclosure form is provided to each board member annually. All board members returned their disclosure from prior to year-end and no conflicts were noted. Form 990, Part VI, Section B, Line 15: In 2021, a comprehensive salary comparison was completed to determine appropriate salary for COO/CFO. Annually, a consultation with Robert Half is completed to make sure compensation is not above normal ranges for the area. Form 990, Part VI, Section C, Line 19: Documents are not available to the public unless specifically requested and for a purpose.