2024-05-14T11:17:56-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 4 BATTERYMARCH PARK SUITE 100 QUINCY MA 02169 990 2023-01-01 454135784 AERIS INSIGHT INC AERI 2672335150 100 S JUNIPER STREET THIRD FLOOR PHILADELPHIA PA 19107 PAIGE CHAPEL PRESIDENT & CEO 2672335150 2024-05-13 1 PAIGE CHAPEL 999009999 1 DANIELLE NIHILL P01350943 7819821001 2024-05-07 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z PAIGE CHAPEL 100 S JUNIPER STREET THIRD FLOOR PHILADELPHIA PA 19107 2442872 0 X WWW.AERISINSIGHT.COM X 2012 PA AERIS FACILITATES AND INCREASES THE FLOW OF CAPITAL TO COMMUNITY DEVELOPMENT LOAN FUNDS, THEREBY CREATING GREATER RACIAL EQUITY, POSITIVE SOCIAL AND ENVIRONMENTAL IMPACT. X 10 10 16 10 0 0 1260000 500000 1754964 1938866 803 4006 0 0 3015767 2442872 0 0 0 0 1552341 1771546 0 0 25123 1094172 1719083 2646513 3490629 369254 -1047757 2498682 1609381 834163 992619 1664519 616762 X SEE SCHEDULE O.AERIS STRIVES TO INCREASE THE FLOW OF CAPITAL BENEFITING LOW-INCOME AND DISADVANTAGED PEOPLE AND COMMUNITIES BY CREATING GREATER TRANSPARENCY AND ACCOUNTABILITY AMONG MISSION-DRIVEN NONPROFITS AND ENTERPRISES. AERIS PROVIDES COMPREHENSIVE, THIRD-PARTY ANALYSIS OF COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS (CDFIS) AND RELATED DATA AND CONTRACT SERVICES THAT AID INVESTORS AND DONORS IN THEIR INVESTMENT DECISION-MAKING. SUBSCRIBERS TO AERIS' SERVICES USE HIGHLY STANDARDIZED DATA, RATINGS, AND IN-DEPTH ANALYSIS OF A CDFI'S SOCIAL IMPACT ACTIVITIES AND FINANCIAL STRENGTH TO GUIDE INVESTMENT DECISIONS. 0 0 1709674 1823866 RATINGS - AERIS INSIGHT, INC. PROVIDES AN INDEPENDENT ASSESSMENT OF A CDFI'S IMPACT MANAGEMENT CAPACITY AND FINANCIAL STRENGTH AND PERFORMANCE. AERIS REPORTS HELP INVESTORS CONFIDENTLY ASSESS CDFIS THAT MATCH THEIR SOCIAL AND ENVIRONMENTAL IMPACT OBJECTIVES AND RISK PARAMETERS. DURING 2023, AERIS ISSUED RATINGS REPORTS ON 70 CDFIS, WHICH SUPPORTED INVESTMENTS BY 49 CDFI INVESTORS IN LOW-INCOME AND UNDER-SERVED COMMUNITIES ACROSS THE UNITED STATES. AS PART OF OUR RATINGS SERVICES, DURING 2023 WE LAUNCHED "PROGRAMMATIC RATINGS" THROUGH A PARTNERSHIP WITH A NATIONAL TRADE ASSOCIATION. PROGRAMMATIC RATINGS SUPPORT THE STRENGTHENING AND GROWTH OF SMALLER CDFI LOAN FUNDS THAT PROVIDE FINANCING IN THE MOST DIFFICULT TO SERVE COMMUNITIES ACROSS THE US. 1424601 14000 AERIS CLOUD/DATA PLATFORM - AERIS INSIGHT, INC. OPERATES A CLOUD-BASED DATA COLLECTION AND REPORTING SYSTEM THAT PROVIDES INVESTORS ACCESS TO QUARTERLY FINANCIAL AND IMPACT PERFORMANCE DATA ON CDFIS AND THAT SUPPORTS PEER COMPARISONS AND CDFI INDUSTRY TREND ANALYSES. DURING 2023, 165 CDFIS REPORTED DATA TO THE AERIS CLOUD. THEY COLLECTIVELY MANAGE 88% OF ALL ON-BALANCE SHEET ASSETS IN THE FIELD. BY YEAR-END, 34 INVESTORS HAD ACCESSED AERIS' CDFI DATA TO INFORM THEIR INVESTMENTS IN CDFIS. 13528 101000 CONSULTING SERVICES - AERIS INSIGHT, INC. OFFERS EXPANDED ASSESSMENT SERVICES FOR INVESTORS THAT COMPLEMENT ITS CORE RATINGS PRODUCT. SERVICES FOCUS ON CUSTOMIZED ASSESSMENTS OF FINANCIAL PERFORMANCE AND IMPACT OF A RANGE OF INVESTMENTS INTENDED TO PRODUCE POSITIVE SOCIAL AND ENVIRONMENTAL OUTCOMES IN MARGINALIZED AND LOW-INCOME COMMUNITIES. DURING 2023, AERIS PROVIDED MONITORING AND ANALYTIC SUPPORT FOR SPECIAL PROGRAMS CREATED BY INVESTORS TO SUPPORT THE DISTRIBUTION OF CAPITAL THROUGH CDFIS TO LOW-INCOME AND MINORITY COMMUNITIES THAT HAVE LIMITED ACCESS TO FINANCIAL RESOURCES. 3147803 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 31 0 16 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X PAIGE CHAPEL 2672335150 100 S JUNIPER ST 3RD FLOOR PHILADELPHIA PA 19107 PENELOPE DOUGLAS CHAIR 1.00 X X 0 0 0 JAMES LUM TREASURER 1.00 X X 0 0 0 JUSTIN CONWAY BOARD MEMBER 1.00 X 0 0 0 JIM CASSELBERRY BOARD MEMBER 1.00 X 0 0 0 VIVIENNE HSU BOARD MEMBER 1.00 X 0 0 0 DAVID SAND BOARD MEMBER 1.00 X 0 0 0 OMAR BLAYTON BOARD MEMBER 1.00 X 0 0 0 SONJA VELEZ BOARD MEMBER 1.00 X 0 0 0 JOANNE GAN BOARD MEMBER 1.00 X 0 0 0 LIZ SESSLER BOARD MEMBER 1.00 X 0 0 0 PAIGE CHAPEL PRESIDENT & CEO 40.00 X 220000 0 23060 KAREN SEABURY SECRETARY & DIR. RATINGS & ANALYSIS 40.00 X 158333 0 13250 KATHY SMART-PRESTON TECHNICAL PROJECT MANAGER 40.00 X 141269 0 27518 LAURA PELKEY DEPUTY DIRECTOR, FINANCE AND ADMINISTRATION 40.00 X 107917 0 13579 JONATHAN SCHWARTZ DEPUTY DIRECTOR, RATINGS AND OPERATIONS 40.00 X 116284 0 15582 743803 0 92989 5 0 1 0 0 500000 500000 SUBSCRIPTION FEES 900099 1154866 1154866 CDFI RATINGS FEES 900099 683000 683000 FEES FOR SERVICE 900099 101000 101000 1938866 4006 4006 2442872 1938866 0 4006 X 416918 359459 32336 25123 1152200 1105855 46345 27646 27646 46166 45803 363 128616 124560 4056 32700 32700 571379 571379 3618 3618 10257 780 9477 1859 1859 29956 29956 34973 10465 24508 18680 8013 10667 332 332 136357 134767 1590 30273 30273 SOFTWARE WRITE-OFF 557772 557772 TECHNOLOGY PROJECTS 89508 89508 ADMIN SERVICES 89081 20446 68635 PUBLICATIONS AND POSTAG 86305 85923 382 26033 5427 20606 3490629 3147803 317703 25123 765 90 857566 725800 130000 268275 308510 32697 7768 1167057 661427 1197379 505630 12000 12000 0 49583 2498682 1609381 199310 208450 634853 734586 0 49583 834163 992619 X 684749 -88214 979770 704976 1664519 616762 2498682 1609381 -1047757 0 X 0 1 X 1 0 X 995000 650000 1528700 1260000 500000 4933700 1451786 1646527 1704373 1749964 1938866 8491516 2446786 2296527 3233073 3009964 2438866 13425216 925000 650000 1427200 1075000 500000 4577200 170686 463648 281837 263060 598417 1777648 1095686 1113648 1709037 1338060 1098417 6354848 7070368 1686 912 318 803 4006 7725 1686 912 318 803 4006 7725 2448472 2297439 3233391 3010767 2442872 13432941 0.52630 0.55770 0.00060 0.00040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 26294 21333 4961 1140763 640094 500669 505630 LEASE LIABILITY 49583 49583 X 2443174 302 302 2442872 0 2442872 3490931 302 302 3490629 0 3490629 PART X, LINE 2: AERIS IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE IRC AND QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS AND IS CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. INCOME WHICH IS NOT RELATED TO EXEMPT PURPOSES, LESS APPLICABLE DEDUCTIONS, WOULD BE SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES. AERIS HAD NO NET UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. MANAGEMENT EVALUATED AERIS' TAX POSITIONS AND CONCLUDED THAT AERIS HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. CONSEQUENTLY, NO ACCRUAL FOR INTEREST AND PENALTIES WAS DEEMED NECESSARY FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. X X X X 0 0 0 0 0 0 0 0 0 PAIGE CHAPEL PRESIDENT & CEO 220000 0 0 0 0 0 8800 0 14260 0 243060 0 0 0 KAREN SEABURY SECRETARY & DIR. RATINGS & ANALYSIS 158333 0 0 0 0 0 0 0 13250 0 171583 0 0 0 KATHY SMART-PRESTON TECHNICAL PROJECT MANAGER 141269 0 0 0 0 0 5742 0 21776 0 168787 0 0 0 AERIS WROTE OFF THE CAPITALIZED EXPENSE FOR THE DEVELOPMENT OF ATLAS SOFTWARE. 2023-12-31 557772 COST 0 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A AUTHORITY IS DELEGATED TO THE FINANCE COMMITTEE TO APPROVE DRAWS ON AERIS' LINE OF CREDIT AS DEFINED BY A GOVERNING WRITTEN POLICY AND TO APPROVE AERIS' IRS 990 FILING ON BEHALF OF THE BOARD. ALL MEMBERS OF THE COMMITTEE ARE VOTING MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. PRIOR TO FILING THE FORM 990, THE PRESIDENT & CEO REVIEWS THE FORM FOR ACCURACY AND THEN FORWARDS IT TO THE TREASURER AND FINANCE COMMITTEE OF THE BOARD. IN ADDITION, THE ORGANIZATION SENDS AN ELECTRONIC COPY OF THE FORM 990 TO THE FULL BOARD OF DIRECTORS. THIS IS FOR INFORMATIONAL PURPOSES AND TO ALLOW FOR COMMENTS FROM THE BOARD PRIOR TO FILING, BUT DOES NOT REQUIRE ACTION FROM THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR THE BOARD OF DIRECTORS SIGNS AN ANNUAL DISCLOSURE STATEMENT WHICH STATES THAT THEY DO NOT HAVE AN EXISTING OR POTENTIAL CONFLICT OF INTEREST AS COVERED BY AERIS INSIGHT, INC.'S CONFLICT OF INTEREST POLICY. THE ASSOCIATE DIRECTOR, FINANCE AND ADMINISTRATION, IS RESPONSIBLE FOR THE OVERSIGHT OF CONFLICT OF INTEREST DISCLOSURES. IF THE BOARD MEMBER HAS AN EXISTING CONFLICT, THEY MUST LIST IT IN THE DISCLOSURE STATEMENT. IF A CONFLICT ARISES AT ANY TIME, THE BOARD MEMBER MUST DISCLOSE THE EXISTENCE, NATURE AND EXTENT OF THE CONFLICT IN A SEPARATE WRITTEN STATEMENT (IF IT IS KNOWN IN ADVANCE) OR ORALLY AT A BOARD MEETING AND MAY VOLUNTARILY RECUSE HIMSELF OR HERSELF FROM DELIBERATIONS OR ACTIONS BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF AERIS INSIGHT, INC. BASES COMPENSATION ON PERIODIC THIRD PARTY COMPENSATION STUDIES. COMPENSATION FOR THE PRESIDENT & CEO IS REVIEWED ANNUALLY THROUGH A PERFORMANCE ASSESSMENT CONDUCTED BY THE BOARD OF DIRECTORS. THE BOARD CHAIR, IN CONSULTATION WITH THE GOVERANCE COMMITTEE OF THE BOARD, MANAGES THIS PROCESS BY REVIEWING THE PRESIDENT & CEO'S PERFORMANCE AGAINST SET GOALS. THIS PROCESS AND THE FINAL DECISION ARE TIMELY DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G OUTSIDE CONTRACTORS FEES: PROGRAM SERVICE EXPENSES 571,379. TOTAL EXPENSES 571,379. FORM 990, PART VI, SECTION B, LINE 15B: ONE COMPENSATED EMPLOYEE MEETS THE IRS DEFINITION OF OFFICER FOR THEIR ROLE AS SECRETARY. THERE IS NO COMPENSATION PAID TO THE SECRETARY FOR THEIR ROLE AS SECRETARY. ALL COMPENSATION LISTED ON FORM 990, PART VI FOR THE SECRETARY IS IN THEIR CAPACITY AS DIRECTOR OF RATINGS & ANALYSIS, AND IT IS REVIEWED AND APPROVED BY THE PRESIDENT & CEO AND INCLUDES THE USE OF INDEPENDENT COMPENSATION BENCHMARK DATA. THE DELIBERATION AND FINAL DECISION ARE TIMELY DOCUMENTED IN THE EMPLOYEE'S RECORDS.