What a year 2020 has been! We hope you are well, and as we approach the end of 2020, we want to give you a look at Impact 100’s current financial health. As I’m sure you’re aware, the landscape for nonprofits and philanthropic giving has been impacted just as all our lives have been in so many ways: work, school, family, social, recreational, and more. No person, and no organization, including Impact 100, has gone unscathed. We have flexed and changed in ways we couldn’t have anticipated. Yet, here we <still> are continuing our work of impactful giving for transformational community projects.
We take pride in the fact that every cent of your full ($1,000) or half ($500) membership goes to the grants we award each year. As our membership numbers have risen, our grant dollars have increased as well! With this increase in membership comes an increase in ‘overhead’ costs associated with responsible administration of membership, communications, finances, accounting, legal, and, yes, even the social events, which are subsidized from our operational funds. Typically our operating costs are between $60,000 and $70,000 annually. In some years, our costs have been higher. These numbers reflect FY (Financial Year) 2019 and FY2020.
Using these numbers, overhead costs per member are between $111 and $130 annually. Historically, we secure this money from sponsors, donors, and investing our monetary resources in interest-bearing accounts. Like all nonprofits, we face a reduction in all three of these areas in this pandemic and ensuing economic recession. Our forecasted revenue in FY2020 will drop to 50% of what it was in FY2019, while expenses remain similar to the prior year.
This is where you can help sustain our transformative grantmaking! We hope you’ll consider contributing at the 110% level (or higher) to ensure our ability to deliver on Impact 100’s philanthropic mission. And, as always, donations of any amount toward operational expenses are welcome and very much appreciated! Whether you decide to join at 110% or not, you are engaging in the important and necessary work of philanthropy in our community by being a member. For this, we are profoundly grateful for your continued membership.
One additional reminder: company matching gifts are another great way to support Impact 100’s philanthropic work. If your or your partner’s employer has a matching gift benefit, please consider Impact 100 for your company match!
To renew or join Impact 100 for 2021, please visit impact100.org/join.