Impact100 Budget Questions Answered Members often ask two questions of Impact100: How does a volunteer board run our organization so efficiently and professionally? The answer is really three-fold: We have good bones. The nine women on Impact's founding board gave tremendous thought and energy to creating an organization with strong philosophical values that would respond to the needs of both women members and the nonprofit community. Second, Impact is a truly collaborative organization. Members generously commit their time and expertise to leadership positions on the board, discrete tasks that keep the organization running smoothly and lengthy projects that unfold over an extended period of time. Finally, this year, Impact100 has its first paid administrative consultant, and this has allowed board members more time to think and plan strategically. The administrative role provides cohesiveness and institutional knowledge in an organization where all board members have term limits. Impact100 Philadelphia is still very much a volunteer-run organization, and this is possible because of thoughtful founders and a committed membership. How much does it cost to run Impact100 each year? This is a great question! Membership in Impact100 is a $1000 commitment for every woman and 100% of that contribution goes directly to fund grants awarded to area nonprofits. Yet, Impact100 does require funds to support business operations and run programs in an efficient and cost-effective manner. Significant expenses are associated with grant-making, compliance and programming for members. Impact covers these costs through voluntary operating contributions from members and friends, company matching contributions, and in-kind donations. Some years, these contributions provide some cushion for future years; in other years, our operating revenue just covers our annual expenses. In 2014, Impact100 Philadelphia's $33,242 in operational expenses broken down as follows:
2014 Expenses
|
|
Accounting, Insurance and Legal |
$ 3,998 |
Website Technology and Support |
$ 4,988 |
Annual Meeting |
$ 15,772 |
Member Events, FAC Meetings and Educational Sessions |
$ 5,448 |
Transaction Processing Fees |
$ 1,706 |
Other Expenses |
$ 1,330 |
TOTAL EXPENSES
|
$ 33,242
|
For the 2015 grant year, Impact is budgeting three significant increases: One is to cover the cost of ongoing administrative support. The second is to support the highly successful Founders Fellowship program. Third, Impact has contracted with a consultant for our website maintenance and updates. As an organization committed to transparency, Impact100 welcomes questions from the membership regarding our operations including our expenses. Questions can be directed to any of our Board members or to info@impact100philly.org. |