Nonprofit · EIN 85-0781875
COMMONWEALTH IMPACT FOUNDATION INC
Tax-exempt · INDIANAPOLIS, IN 46230
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $6,109,705 | $8,661,815 | -$2,552,110 | $8,705,416 | $41,228 | $8,664,188 |
| December 31, 2023 | 990 | $5,468,590 | $10,321,129 | -$4,852,539 | $11,048,975 | $283,333 | $10,765,642 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $6,427,064
- Program service revenue
- $0
- Investment income
- $58,939
- Net rental income
- -$195
- Other revenue
- -$376,298
Expenses
- Grants and similar amounts paid
- $8,034,977
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $6,124
- Accounting fees
- $60,500
- Occupancy
- $4,590
- Program services (functional)
- $8,410,622
- Management and general (functional)
- $205,205
- Fundraising (functional)
- $45,988
Balance sheet and other
- Total assets, start of year
- $11,048,975
- Total assets, end of year
- $8,705,416
- Total liabilities, end of year
- $41,228
- Net assets, end of year
- $8,664,188
- Net assets without donor restrictions
- $8,664,188
- Gross unrelated business income
- -$211,825
- Gross receipts
- $6,109,900
- Employees
- 0
- Volunteers
- 3
- Year formed
- 2020
- State of legal domicile
- IN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAY HEIN | BOARD MEMBER Trustee or director | 1 | $0 |
| WINSTON JUSTICE | BOARD MEMBER Trustee or director | 1 | $0 |
| CLIFF BENSON | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAY HEIN | BOARD MEMBER Trustee or director | 1 | $0 |
| WINSTON JUSTICE | BOARD MEMBER Trustee or director | 1 | $0 |
| CLIFF BENSON | BOARD MEMBER Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 301076, INDIANAPOLIS, IN 46230-1076
- In care of
- % JAY
- Principal officer (990 for 2024)
- JAY HEIN, PO BOX 301076, INDIANAPOLIS, IN 46230
- Signed the 990
- JAY HEIN, MANAGING MEMBER
- Phone
- (317) 472-2020
- Website
- COMMONWEALTHIMPACT.ORG
- Return prepared by
- BARNES DENNIG & CO LTD
Mission
THE WORLD HAS NEVER EXPERIENCED SO MUCH PROSPERITY NOR FACED SO MANY MASSIVE CHALLENGES. COMMONWEALTH HARNESSES THE SAME ENTREPRENEURIAL TALENT THAT CREATES WEALTH TO CREATE MORE OPPORTUNITY FOR EVERYONE TO FLOURISH.
Program accomplishments
- COMMONWEALTH IMPACT FOUNDATION HELPS NONPROFITS AND SOCIAL VENTURES WITH DEMONSTRATED SOCIAL IMPACT ACCESS EARLY-STAGE CAPITAL IN THE FORM OF GRANTS AND LOW-INTEREST LOANS. IN 2024, COMMONWEALTH PROVIDED MORE THAN $7M IN GRANT FUNDING TO WORLD SHOE FUND TO DISRUPT THE CHRONIC CYCLE OF POVERTY AND PREVENTABLE DISEASE IN DEVELOPING NATIONS THROUGH ADVOCACY, EDUCATION, AND ACCESS TO FOOTWEAR. IN 2024, WORLD SHOE FUND DISTRIBUTED MORE THAN 380,000 PAIRS OF SHOES FOR NATIONAL HEALTH AND HYGIENE INITIATIVES AND SECURED SEVEN NEW COUNTRY PARTNERSHIPS.Expenses $8,410,622 · grants $8,034,977
- COMMONWEALTH IMPACT FOUNDATION HOLDS AND ADMINISTERS DONOR ADVISED FUNDS TO MAKE MISSION-RELATED INVESTMENTS TO NONPROFIT AND FOR PROFIT COMPANIES WITH DEMONSTRATED SOCIAL IMPACT. THESE DONOR ADVISED FUNDS ARE TYPICALLY HELD BY INDIVIDUALS AND FUNDED BY A NEW CHARITABLE CONTRIBUTION OR GRANT FROM AN EXISTING DONOR ADVISED FUND AT ANOTHER INSTITUTION. DAF INVESTMENTS MAY BE IN THE FORM OF LOANS OR EQUITY. COMMONWEALTH MADE 8 NEW INVESTMENTS FROM DONOR ADVISED FUNDS IN 2024.
- COMMONWEALTH IMPACT FOUNDATION SPECIALIZES IN REAL ESTATE TRANSACTIONS SUPPORTING NONPROFITS AND OTHER CHARITABLE ENTITIES. IN 2024, COMMONWEALTH FACILITATED A LOW-INTEREST LOAN FOR HEART CHANGE MINISTRIES TO ACQUIRE AND REDEVELOP A BUILDING IN INDIANAPOLIS. AT THIS FACILITY, HEART CHANGE SUPPORTS SINGLE MOTHERS IN CRISIS THROUGH EMOTIONAL SUPPORT, EDUCATION, AND CAREER TRAINING.
- CW CITY FUND: COMMONWEALTH IS GROWING AN IMPACT INVESTING NETWORK IN 15 CITIES TO FUND VENTURE PHILANTHROPY AND VC/PE DEALS AIMED AT COMMUNITY RENEWAL.CW VENTURES: COMMONWEALTH SPONSORS SELECT PRIVATE OFFERINGS FOR COMPANIES ADVANCING MARKET SOLUTIONS TO THE WORLD'S BIGGEST PROBLEMS, INCLUDING THE WEALTH GAP BETWEEN WHITE FAMILIES AND BLACK FAMILIES IN AMERICA AND ACCESS TO QUALITY HEALTH CARE AND MENTAL HEALTH SERVICES.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-0781875
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $8,705,416
- Income (IRS master file)
- $6,109,900
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $6,109,705 | $8,661,815 | $8,705,416 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $5,468,590 | $10,321,129 | $11,048,975 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $11,685,333 | $1,796,879 | $16,611,239 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-0781875).
Questions about COMMONWEALTH IMPACT FOUNDATION INC
- What is the EIN of COMMONWEALTH IMPACT FOUNDATION INC?
- The employer identification number (EIN) of COMMONWEALTH IMPACT FOUNDATION INC is 85-0781875.
- Is COMMONWEALTH IMPACT FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to COMMONWEALTH IMPACT FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does COMMONWEALTH IMPACT FOUNDATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of COMMONWEALTH IMPACT FOUNDATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did COMMONWEALTH IMPACT FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of COMMONWEALTH IMPACT FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names JAY HEIN.
- Who are the officers and directors of COMMONWEALTH IMPACT FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does COMMONWEALTH IMPACT FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $6,109,705, expenses of $8,661,815 and total assets of $8,705,416 at year end.
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