Impact Fund
Public records show a registered, tax-exempt organization in good standing.
What it says it does
Supports class action public interest litigation and awards grants in the areas of human and civil rights, elimination of unlawful discrimination, environmental justice and the relief of poverty. Provides technical support, advice/counseling, training & representation to public interest lawyers. The Impact Fund does not receive any federal funding.
- Income
- $4.2 million
- Spending
- $3.6 million
- Spent on programs
- 82%
- Reserves
- 8 months of spending
- Largest source of income
- donations and private grants, 62%
- Employees
- 20
- Volunteers
- 19
- Highest pay
- $177,520, executive dir.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 83 out of 100.
Reserves
28 of 35Spendable reserves would cover 8.0 months of spending.
Debt
10 of 20It owes 40% of what it owns.
Living within its means
15 of 15Income exceeded spending by 14% of income.
Income trend
15 of 15Income rose 26% on the year before.
Spending floor
15 of 1582% of spending went to programs and raising each dollar of donations cost 18 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100.
Independent board
25 of 2515 of 15 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.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
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 June 30, 2025, 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 (3)
- $2.9 million spent. Grants The Impact Fund makes recoverable grants to lawyers, small law firms, and nonprofit organizations involved in impact litigation. We fund civil rights, human rights, anti-poverty, and environmental justice cases. Most of our grants are for class actions, but we also fund multi-plaintiff and environmental justice cases that aim to significantly affect a larger system or lead to significant law reform. In the 2024/25 fiscal year, the Impact Fund disbursed a total of $690,000 in grant funding via 25 recoverable grants. The Impact Fund has committed around $10 million to justice-related causes since the organizations inception.
- Advocacy We advocate for economic, environmental, racial, and social justice as both lead and co-counsel in a small number of complex impact litigation cases. We also author several amicus briefs in important class action cases each year and participate in notice and comment rulemaking for administrative rules and regulations on relevant issues. We also engage in a limited amount of advocacy on these issues.
- Education and Training In September, we presented our three-day Class Action Training Institute, taking 40 students through all the phases of a mock class action. In February, we presented our annual Class Action Conference, which attracted 277 practitioners from around the nation, sharing current news, developments, and best practices for class action litigation. We also presented multiple training courses, seminars, and workshops on class action strategy, current issues, and practical skills for class action practitioners and legal services organizations.
Source: Form 990 for the year ending June 30, 2025, 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 June 2025.
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 November 1992.
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.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.