With a gradient-corrected density functional method, we have studied computationally the influence of single impurity atoms on the structure, electronic, and magnetic properties of Ni5 clusters. The square-pyramidal isomer of bare Ni5 with six unpaired electrons was calculated 23 kJ/mol more stable than the trigonal bipyramid in its lowest-energy electronic configuration with four unpaired electrons. In a previous study on the cluster Ni4, we had obtained only one stable isomer with an O or an H impurity, but we located six minima for ONi5 and five minima for HNi5. In the most stable structures of HNi5, the H atom bridges a Ni-Ni edge at the base or the side of the square pyramid, similarly to the coordination of an H atom at the tetrahedral cluster Ni4. The most stable ONi5 isomers exhibit a trigonal bipyramidal structure of the Ni5 moiety, with the impurity coordinated at a facet, (micro3-O)Ni5, or at an apex edge, (micro-O)Ni5. We located four stable structures for a C impurity at a Ni5 cluster. As for CNi4, the most stable structure of the corresponding Ni5 complex comprises a four-coordinated C atom, (micro4-C)Ni5, and can be considered as insertion of the impurity into a Ni-Ni bond of the bare cluster. All structures with C and five with O impurity have four unpaired electrons, while the number of unpaired electrons in the clusters HNi5 varies between 3 and 7. As a rough trend, the ionization potentials and electron affinities of the clusters with impurity atoms decrease with the coordination number of the impurity. However, the position of the impurity and the shape of the metal moiety also affect the results. Coordination of an impurity atom leads to a partial oxidation of the metal atoms.