Sorenson Impact Foundation
- Assets
- $157.4m
- Revenue
- $2.9m
- Investments
- $147.5m
- Employees
- 0
- Location
- Salt Lake City, UT
- Founding
- 10/2011
- Data as of
- 12/2021
- EIN
- 45-3203840
Organization Overview
Sorenson Impact Foundation is located in Salt Lake City, UT. The organization was established in 2011. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sorenson Impact Foundation 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, Sorenson Impact Foundation generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $3.9m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Sorenson Impact Foundation has awarded 100 individual grants totaling $13,427,285. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Meredith Shields Program Manager | 40 | $151,598 | |
Lindsay Zizumbo Chief Of Staff | 40 | $136,820 | |
Krista Sorenson Director | 5 | $0 | |
James Lee Sorenson Director | 10 | $0 | |
Luke Sorenson Director | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sepio Capital | 12/30/21 | $369,299 |
Sorenson Associates The Pointe Llc | 12/30/21 | $140,999 |
Kirton Mcconkie | 12/30/21 | $87,808 |
Ross Aronstam & Moritz Llp | 12/30/21 | $117,058 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $3,032,427 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$618,416 |
| Capital Gain Net Income | $10,170,472 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $440,923 |
| Total Revenue | $2,854,934 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $297,943 |
| Pension plans, employee benefits | $22,822 |
| Interest | $81 |
| Taxes | $242,867 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $460 |
| Printing and publications | $0 |
| Other expenses | $51,757 |
| Total operating and administrative expenses | $1,340,268 |
| Contributions, gifts, grants paid | $2,512,000 |
| Total expenses and disbursements | $3,852,268 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,748 |
| Savings and temporary cash investments | $6,610,074 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $92,094,705 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $3,140,088 |
| Total assets | $157,397,407 |
| Accounts payable and accrued expenses | $14,173 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $67,145 |
| Total liabilities | $81,318 |
Grants Awarded
Over the last fiscal year, Sorenson Impact Foundation has awarded $2,512,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF UTAH PURPOSE: IMPACT INVESTING STUDENT PROGRAM; GENERAL SUPPORT | $760,000 |
VILLAGE CAPITAL PURPOSE: TRAINING FOR BLACK ENTREPRENUERS | $250,000 |
Philadelphia, PA PURPOSE: EXPANDING ACCESS TO IMPACT DATA FOR THE USE OF CDFI INVESTMENTS | $250,000 |
Columbus, OH PURPOSE: DEVELOPING FINANCIAL APPLICATIONS TO REDUCE LENDING BIAS | $250,000 |
New York, NY PURPOSE: BUILDING RACIAL AND DIVERSITY METRICS INTO IMPACT INVESTING REPORTING STANDARDS | $227,000 |
Washington, DC PURPOSE: IMPACT INVESTING ALLIANCE | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Troesh Family Foundation Henderson, NV | $90,271,272 | $18,993,634 |
Bia Echo Foundation Reno, NV | $26,357,504 | $25,798,977 |
Kennys Kids Sedona, AZ | $0 | $509,065 |
Brent Eley Center Inc Aurora, CO | $0 | $0 |
Boettcher Foundation Denver, CO | $266,743,315 | $22,782,794 |
Charityvision International Inc Provo, UT | $7,076,179 | $9,590,152 |
R Foundation Kaysville, UT | $410,534 | $5,235,533 |
The Piton Foundation Denver, CO | $212,611,882 | $13,782,087 |
Stonewall Foundation Tucson, AZ | $0 | $109,268 |
Ssb Charitable Foundation Colorado Springs, CO | $10,867,168 | $21,135,487 |
Dick Scheffel Family Charitable Foundation Reno, NV | $5,433,390 | $2,908,793 |
The W W Smith Charitable Trust Las Vegas, NV | $204,297,707 | $16,939,254 |