Our Mission
is to provide community economic development through the strategic reinvestment of contributions into meaningful businesses, projects, and activities, possessing promising growth, cultural significance, and employment expansion possibilities.
What is a qualified opportunity zone?
A Qualified Opportunity Zone are predetermined census tracks of economically distressed areas. Businesses and real estate within these designated areas are eligible to have capital gains invested, which can provide tax benefits to investors.
How were they created?
As part of the Tax Cuts and Jobs Act (TCJA) of 2017, localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service.
Benefits for Investors
Opportunity Zones are an economic development tool designed to spur economic development and job creation in distressed communities. First, investors can defer tax on any prior gains invested in a Qualified Opportunity Fund (QOF) until the earlier of the date on which the investment in a QOF is sold or exchanged, or December 31, 2026. If the investment is held for longer than 5 years, there is a 10% exclusion of the deferred gain. If held for more than 7 years, the 10% becomes 15%.
Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor is eligible for an increase in basis of the investment equal to its fair market value on the date that the investment is sold or exchanged.
ICM Advantage
Impact Capital Management is centralized on the idea of providing opportunities for donors, investors, and businesses with the ability to make a meaningful impact on the community. Through our unique model, we help connect the businesses within opportunity zones to investors and donors, serving as a centralized point of contact for all parties. We provide our own Qualified Opportunity Fund to utilize our expertise of the markets, zones, and businesses located within them.
Our Programs
Impact Capital Management exists to provide capital and advice to economically distressed communities/businesses. This is achieved by accepting contributions from donors, as well as providing grants and loans to social investments. Specifically, we work with businesses and communities in Qualified Opportunity Zones to provide opportunities for capital/financing, which will further develop and enhance these communities.
Donations
Impact Capital Management is a 501(c)(3) and a donation to us is considered tax deductible. Donations will be eligible to be used as a charitable contribution for individuals and businesses alike.
Business Financing
We work with borrowers to create and provide financing to those businesses within opportunity zones. We serve those with diverse community impact such as: housing, community resources, education, food commerce, commercial enterprise, and healthcare.
Consulting
Partnering with businesses and investors to maximize the appropriate tax credits and benefits of each area along with the benefits of the Qualified Opportunity Zone Program.
Grants
Eligible Qualified Opportunity Businesses can apply for grant funding, which will be awarded based upon a myriad of social and financial factors. Awards are provided to stimulate emerging businesses in Qualified Opportunity Zones in order to create investable entities in the future.
Private Investments
Qualified Opportunity Zones provide the opportunity for investors to invest in the community while also receiving deferred capital gain treatment and potential appreciation in taxable basis.
Our Team
Trevor Cozza - President/CEO
Trevor Cozza, CPA, MBA has worked for Prudential Financial since 2007. During this time, he has served in roles within financial reporting and the Internal Audit department. Trevor provided guidance and leadership to stakeholders in order to consistently assess current and emerging risks as well as opine on condition of controls and the control environment.
Trevor is also an owner of The Cozza Group, LLC, where he provides public accounting services to individuals as well as businesses. As an active Certified Public Accountant (CPA), Trevor is licensed to practice in Pennsylvania and Delaware.
Trevor has volunteered for the IRS Volunteer Income Tax Preparation (VITA) program, which serves to offer free tax help to people who generally make $55,000 or less, persons with disabilities and limited English speaking taxpayers who need assistance in preparing their own tax returns.
Trevor lives in Covington Township, Pa with his wife Nicole and two children, Maximus and Rome.
chris haran - Treasurer
Christopher J. Haran was the Chief Information Officer for TMG Health from April 2011 to May 2014. Chris spent nearly 25 years in various executive management positions in the retail banking (Manufacturers Hanover Trust/Chemical Bank), book publishing (Harper Collins Publishers) and I/T consulting services (CyLogix/Keane) industries. He was the President & Chief Executive Officer of the Northeastern Pennsylvania Technology Institute (NPTI) and Executive Director of the Great Valley Technology Alliance .
Chris currently serves as the Treasurer on the Johnson College Board of Directors. He was a founding board member of the Medical Education Development Consortium that led to the creation of The Geisinger Commonwealth Medical College, as well as a founding Board member of the Great Valley Technology Alliance. He serves on the Marywood University School of Business and Global Innovation Advisory Board. He has served on the Board of Directors of the Greater Scranton Chamber of Commerce, and as Treasurer on the Board of Directors of Elmhurst Country Club. He has served on several non-profit boards including Junior Achievement, American Heart Association, and is a past President of the Minisink Lion’s Club.
Chris lives in Moscow, Pa. with his wife Donna and has three adult children, Sabrina, Julie and Andrew.
jerry maus - Director
Jerry Maus was a Vice President at Prudential Financial from 1996 until his retirement in 2016, responsible for managing Business Support Services for the Prudential Retirement division. Prior to joining Prudential Financial. Jerry was Director of Operations for NatWest Services (National Westminster Bank, London, UK), and Assistant Vice President for PNC Bank, Pittsburgh, Pa. Since retiring in 2016, Jerry is currently the COO for BMM Real Estate Development LLC, based in Charleston, SC.
Jerry has over 30 years of leadership experience and business knowledge in the Financial Corporate service areas in both banking and insurance.
Get Involved
Apply for Financing
For businesses located within Qualified Opportunity Zones, the application for funding starts here.
Make an Impact Investment
Investors looking to invest in Qualified Opportunity Funds and/or Businesses can learn how here.
Donations
Looking to donate to Impact Capital Management? Follow here.
Grants
A little financial support can go a long way, so we’re offering cash grants to help during this challenging time. Apply for our Impact Grant today.
