Locus Impact Investing
- Assets
- $7.0m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 05/2009
- Data as of
- 12/2021
- EIN
- 26-3114011
Organization Overview
Locus Impact Investing is located in Richmond, VA. The organization was established in 2009. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Locus Impact Investing is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Locus Impact Investing generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.4% each year . All expenses for the organization totaled $5.6m during the year ending 12/2021. While expenses have increased by 23.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EMPOWER PLACE-FOCUSED INSTITUTIONS TO INVEST THEIR CAPITAL LOCALLY TO BUILD MORE PROSPEROUS, VIBRANT COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REBUILD VIRGINIA IS ADMINISTERED FOR THE STATE OF VIRGINIA TO DEPLOY GRANTS TO SMALL BUSINESSES.
SUPPORTS PLACE-FOCUSED FOUNDATIONS AS THEY EXPLORE THE FIELD OF PLACE-BASED IMPACT INVESTING; SEEK TO UNLOCK ASSETS FOR COMMUNITY BENEFIT; AND DEPLOY THEIR CAPITAL TO CREATE MORE VIBRANT, PROSPEROUS COMMUNITIES. LOCUS ACTIVITIES INCLUDE CONSULTING AND TRAINING; TRANSACTION SOURCING AND STRUCTURING; AND PROJECT UNDERWRITING AND ASSET SERVICING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deborah Markley Senior Vice President | Officer | 40 | $174,229 |
Sarah Stremlau Locus President | OfficerTrustee | 12 | $67,585 |
Jane Henderson President & CEO | Officer | 6 | $28,314 |
Adam Northop Senior Vice President | Officer | 12 | $23,978 |
Clyde Cornett CFO & Treasurer | Officer | 2 | $14,855 |
Peter Taylor Chief Information Officer | Officer | 2 | $10,001 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,000,785 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,000,785 |
| Total Program Service Revenue | $7,163,316 |
| Investment income | $7,548 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $374 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,339,755 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $217,500 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $333,063 |
| Compensation of current officers, directors, key employees. | $165,063 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $943,520 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $149,304 |
| Payroll taxes | $84,143 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,781 |
| Fees for services: Accounting | $27,482 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,292,341 |
| Advertising and promotion | $6,117 |
| Office expenses | $52,720 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $35,705 |
| Travel | $5,087 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,612 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,956 |
| Insurance | $13,919 |
| All other expenses | $0 |
| Total functional expenses | $5,550,759 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,437,026 |
| Savings and temporary cash investments | $2,612,561 |
| Pledges and grants receivable | $77,257 |
| Accounts receivable, net | $1,870,645 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,366 |
| Net Land, buildings, and equipment | $16,956 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,614 |
| Total assets | $7,023,425 |
| Accounts payable and accrued expenses | $220,523 |
| Grants payable | $0 |
| Deferred revenue | $2,019,302 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $351,426 |
| Total liabilities | $2,591,251 |
| Net assets without donor restrictions | $4,432,174 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,023,425 |
Grants Awarded
Over the last fiscal year, Locus Impact Investing has awarded $215,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Charleston, WV PURPOSE: COHORT PROGRAM | $80,000 |
Asheville, NC PURPOSE: ECOSYSTEM INITIATIVE | $75,000 |
Boone, NC PURPOSE: ECOSYSTEM INITIATIVE | $60,000 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Locus Impact Investing has recieved totaling $1,236,268.
| Awarding Organization | Amount |
|---|---|
William & Flora Hewlett Foundation Menlo Park, CA PURPOSE: FOR CLIMATE CHANGE MITIGATION THROUGH LOAN GUARANTEE STRUCTURES | $250,000 |
Kresge Foundation Troy, MI PURPOSE: THIS GRANT WILL SUPPORT THE LAUNCH AND INITIAL OPERATING COSTS OF THE COMMUNITY INVESTMENT GUARANTEE POOL (CIGP) A NEW PIECE OF INVESTMENT INFRASTRUCTURE THAT WILL INCREASE THE SCALE AND EFFICIENCY OF COMMUNITY DEVELOPMENT CAPITAL. | $220,000 |
F B Heron Foundation New Milford, CT PURPOSE: GENERAL SUPPORT | $150,000 |
The California Endowment Los Angeles, CA PURPOSE: ADVANCING COMMUNITY HEALTH INVESTMENTS ACROSS CALIFORNIA: TO SUPPORT THE DEVELOPMENT OF INTERMEDIARIES THAT INVEST IN AFFORDABLE HOUSING, CLIMATE SOLUTIONS AND SMALL BUSINESS JOB CREATION TO POSITIVELY IMPACT HEALTH OUTCOMES FOR COMMUNITIES ACROSS CALIFORNIA. | $150,000 |
F B Heron Foundation New Milford, CT PURPOSE: GENERAL SUPPORT | $150,000 |
Robert Wood Johnson Foundation Princeton, NJ PURPOSE: 77382 SUPPORTING THE OPERATIONS OF THE COMMUNITY I | $146,168 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Elevator Industry Work Preservation Fund Columbia, MD | $75,509,631 | $27,265,052 |
North Carolina Farm Bureau Federation Inc Raleigh, NC | $43,526,522 | $15,980,144 |
Downtown Business Improvement District Corporation Washington, DC | $12,848,344 | $15,153,939 |
Kentucky Farm Bureau Federation Louisville, KY | $26,799,792 | $14,351,168 |
Virginia Farm Bureau Federation Inc Richmond, VA | $53,446,193 | $7,940,484 |
Tennessee Farm Bureau Federation Columbia, TN | $127,985,651 | $12,173,337 |
Painters And Allied Trades Labor Management Cooperation Fund Hanover, MD | $16,040,317 | $4,577,967 |
Locus Impact Investing Richmond, VA | $7,023,425 | $9,339,755 |
Agricenter International Inc Memphis, TN | $11,833,861 | $6,132,848 |
National Council Of Farmer Cooperatives Washington, DC | $7,136,808 | $5,507,889 |
United Food And Commercial Workers International Union Gaithersburg, MD | $2,738,530 | $4,012,146 |
United Food And Commercial Workers International Union Hermitage, TN | $1,044,868 | $3,906,250 |