2024-11-11T16:02:11-06:00 2023-12-31 582646754 CARTER & COMPANY CPAS LLC PO BOX 279 DESTIN FL 32540 990 2023-01-01 391417230 IMPACT ACCEPTANCE CORPORATION IMPA 7154341717 2961 DECKER DRIVE RICE LAKE WI 54868 MATTHEW PIOSKE VP OF ACCOUNTING 7154341717 2024-11-11 1 1 SAMUEL T BOERMA P00614373 8506500125 2023 2024-10-15 13:58:12Z BRETT GERBER 2961 DECKER DRIVE RICE LAKE WI 54868 38579 0 X N/A X 1990 WI RURAL DEVELOPMENT LOANS 3 1 0 0 0 0 0 0 57140 37044 661 1295 0 240 57801 38579 0 52598 0 0 0 0 0 0 0 15576 15397 15576 67995 42225 -29416 1549041 1489497 293793 263665 1255248 1225832 PROVIDE RURAL DEVELOPMENT LOANS 0 0 55263 52598 37284 IMPACT ACCEPTANCE CORPORATION (THE CORPORATION) WAS FORMED TO BE AN INTERMEDIARY IN ORDER TO ADMINISTER A LOAN FROM THE INTERMEDIARY RELENDING PROGRAM (IRP) OF RURAL DEVELOPMENT. THE IRP IS A PROGRAM OPERATED INTERMEDIARY WHEREBY THE INTERMEDIARY USES LOAN FUNDS RECEIVED FROM RURAL DEVELOPMENT, ALONG WITH ANY OTHER AVAILABLE FUNDS, TO MAKE LOANS TO ULTIMATE RECIPIENTS. RELENDING PROGRAMS WILL NORMALLY ESTABLISH REVOLVING FUNDS SO THAT INCOME FROM LOANS MADE TO ULTIMATE RECIPIENTS, IN EXCESS OF NECESSARY OPERATING EXPENSES AND DEBT PAYMENTS, WILL BE USED TO MAKE ADDITIONAL LOANS TO ULTIMATE RECIPIENTS. AT THE END OF 2023, THE ORGANIZATION HAD LOAN RECEIVABLES TOTALING $372,854. 55263 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 X TERRA PAWLIUK-MCGIFFIN 7154341710 2961 DECKER DRIVE RICE LAKE WI 54868 BRETT GERBER PRESIDENT/CEO 1.00 40.00 X X 0 509396 138859 TERRA PAWLIUK-MCGIFFIN SECRETARY/TREASURER 1.00 40.00 X X 0 116271 38244 CAROLINE LOYAS DIRECTOR 1.00 40.00 X 0 113408 30189 0 739075 207292 0 0 1 0 0 INTEREST INCOME - PROG 900099 26622 26622 RECOVERY OF BAD DEBT 900099 10422 10422 37044 1295 1295 MISCELLANEOUS REVENUE 900099 240 240 240 38579 37284 0 1295 52598 52598 5207 5207 7500 7500 2665 2665 MISCELLANEOUS TAXES, LI 25 25 67995 55263 12732 0 1032847 1137244 2435 1771 513759 350482 1549041 1489497 2258 2031 289120 260173 2415 1461 293793 263665 X 947075 909419 308173 316413 1255248 1225832 1549041 1489497 -29416 0 X X 0 1 X 1 1 1 X 79169 76640 83352 57140 37284 333585 79169 76640 83352 57140 37284 333585 0 0 0 333585 610 490 393 661 1295 3449 610 490 393 661 1295 3449 79779 77130 83745 57801 38579 337034 0.98980 0.99660 0.01020 0.00340 X 0 PROGRAM RELATED NOTES RECEIVABLE NET OF RESERVE FOR BAD DEBTS 350482 F 350482 DUE TO AFFILIATE 1461 1461 X 38579 0 38579 0 38579 67995 0 67995 0 67995 PART X, LINE 2: THE ORGANIZATION HAS RECEIVED NOTIFICATION THAT IT QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE CAN BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THERE WAS NO UNRELATED INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. THEREFORE, NO PROVISION FOR INCOME TAXES IS INCLUDED IN THE FINANCIAL STATEMENTS. THE ORGANIZATION FOLLOWS ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES (FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES). IT REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A 'MORE-LIKELY-THAN-NOT' THRESHOLD. THIS APPLIES TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ORGANIZATION DOES NOT BELIEVE ITS FINANCIAL STATEMENTS INCLUDE ANY UNCERTAIN TAX POSITIONS AND THAT NO INCOME TAXES ARE DUE FOR ITS ACTIVITIES. 0 IMPACT SEVEN INC 2961 DECKER DRIVE RICE LAKE WI 54868 391141037 501(C)(3) 52598 0 TO BENEFIT THE COMMUNITIES BY PROVIDING LOW INCOME HOUSING AND SERVICES 1 0 1 0 0 0 0 0 0 0 BRETT GERBER PRESIDENT/CEO 0 350130 0 133768 0 25498 0 109900 0 28959 0 648255 0 0 TERRA PAWLIUK-MCGIFFIN SECRETARY/TREASURER 0 99804 0 16000 0 467 0 3732 0 34512 0 154515 0 0 PART I, LINE 3 THE ORGANIZATION'S PRESIDENT/CEO IS NOT COMPENSATED BY THE ORGANIZATION BUT IS COMPENSATED BY ITS CONTROLLING ORGANIZATION, IMPACT SEVEN, INC. IMPACT SEVEN, INC. USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION OF THE ORGANIZATION'S PRESIDENT/CEO: -COMPENSATION COMMITTEE -INDEPENDENT COMPENSATION CONSULTANT -WRITTEN EMPLOYMENT CONTRACT, AND -APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE PART I, LINE 4B BRETT GERBER PARTICIPATED IN A SECTION 457(F) BENEFIT PLAN. NO AMOUNTS WERE PAID UNDER THE PLAN DURING THE YEAR. PART II: THE ORGANIZATION'S PRESIDENT/CEO IS NOT COMPENSATED BY THE ORGANIZATION BUT IS COMPENSATED BY ITS CONTROLLING ORGANIZATION, IMPACT SEVEN, INC. THE ORGANIZATION HAS ITS OWN PROPERTY BUT NOT ITS OWN EMPLOYEES. IMPACT SEVEN, INC. CHARGES THE ORGANIZATION FOR ITS USE OF ITS EMPLOYEES SO THAT MANAGEMENT AND BOOKKEEPING FUNCTIONS CAN BE CARRIED OUT. FORM 990, PART VI, SECTION B, LINE 11B THE AUDITED FINANCIAL STATEMENTS UPON WHICH THE FORM 990 IS BASED ARE APPROVED BY THE BOARD OF DIRECTORS. A COPY OF THE FORM 990 IS PROVIDED TO BRETT GERBER, THE BOARD PRESIDENT. FORM 990, PART VI, SECTION B, LINE 12C IN ADDITION TO WRITTEN DISCLOSURE OF CONFLICTS OF INTEREST, AN INDIVIDUAL WITH A POSSIBLE CONFLICT OF INTEREST DOES NOT PARTICIPATE IN ANY DISCUSSION OR DECISION RELATING TO ANY ISSUE WHERE A CONFLICT MAY EXIST. POLICY DETAILS ARE IN THE ORGANIZATION'S WRITTEN CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE LOCATED AT THE MAIN OFFICE AND ARE PROVIDED UPON REQUEST. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN OVERSIGHT OR SELECTION PROCESSES. COULEE HOMES LTD 2961 DECKER DRIVE RICE LAKE WI 54868 391668287 CHRONICALLY MENTALLY ILL HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 IMPACT HOUSING DEVELOPMENT LTD 2961 DECKER DRIVE RICE LAKE WI 54868 391517550 ELDERLY & HANDICAPPED HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 PARKWOOD PROPERTIES LTD 2961 DECKER DRIVE RICE LAKE WI 54868 391698159 ELDERLY & HANDICAPPED HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 RIVERWAY HOMES LTD 2961 DECKER DRIVE RICE LAKE WI 54868 391667738 ELDERLY & HANDICAPPED HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 IMPACT SEVEN INCORPORATED 2961 DECKER DRIVE RICE LAKE WI 54868 391141037 COMMUNITY DEVELOPMENT WI 501(C)(3) LINE 7 N/A 0 BAYBARRY CORPORATION 2961 DECKER DRIVE RICE LAKE WI 54868 391806915 ELDERLY & HANDICAPPED HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 DEER PARK HOUSING LTD 2961 DECKER DRIVE RICE LAKE WI 54868 391666242 ELDERLY & HANDICAPPED HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 HEARTHSTONE HOUSING LTD 2961 DECKER DRIVE RICE LAKE WI 54868 391694895 ELDERLY & HANDICAPPED HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 HOME CONVERSIONS INC 2961 DECKER DRIVE RICE LAKE WI 54868 391637297 LOW INCOME HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 IMPACT PRESERVATION CORPORATION 2961 DECKER DRIVE RICE LAKE WI 54868 371581358 PROVIDE RURAL DEVELOPMENT LOANS WI 501(C)(4) IMPACT SEVEN INC 0 QUALITY DEVELOPMENT CORPORATION 2961 DECKER DRIVE RICE LAKE WI 54868 391902688 ELDERLY & HANDICAPPED HOUSING WI 501(C)(3) LINE 10 IMPACT SEVEN INC 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0