Commonwealth Impact Foundation Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $6.1 million
- Spending
- $8.7 million
- Spent on programs
- 97%
- Reserves
- 12 months of spending
- Largest source of income
- donations and private grants, 100%
- Employees
- 0
- Volunteers
- 3
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 85 out of 100. Higher than 67% of charities in its peer group (community improvement, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 12.0 months of spending.
Debt
20 of 20It owes 0% of what it owns.
Living within its means
0 of 15Spending exceeded income by 42% of income.
Income trend
15 of 15Income rose 12% on the year before.
Spending floor
15 of 1597% of spending went to programs and raising each dollar of donations cost 1 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 93 out of 100. Higher than 57% of charities in its peer group (community improvement, $1m to $10m).
Independent board
18 of 253 of 3 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (4)
- $8.4 million spent. 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.
- 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.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since July 2020.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
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