2025-10-22T07:59:46-05:00 2025-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2024-07-01 043105358 CHILDREN'S INVESTMENT FUND INC CHIL 6177275944 18 TREMONT ST SUITE 500 BOSTON MA 02108 AMY O'LEARY BOARD PRESIDENT 6177275944 2025-10-16 1 1 CAITLIN LIMOGES CPA P01633588 5083669100 2025-10-16 2024 2025-03-06 01:10:19Z AMY O'LEARY 18 TREMONT ST SUITE 500 BOSTON MA 02108 1334242 0 X HTTPS://CIF-MA.ORG X 1990 MA THE CHILDREN'S INVESTMENT FUND'S (CIF) PRIMARY PURPOSE IS TO IMPROVE THE QUALITY OF AND EXPAND ACCESS TO EARLY LEARNING AND SCHOOL-AGE CHILD CARE PROGRAMS FOR LOW AND MODERATE-INCOME FAMILIES. IN ORDER TO BROADEN THE IMPACT OF ITS WORK CIF ALSO SEEKS TO SUPPORT AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES THROUGH PLACE-BASED TWO-GENERATION AND OTHER STRATEGIES THAT RESULT IN SAFER, HEALTHIER AND MORE STABLE ENVIRONMENTS IN WHICH TO RAISE YOUNG CHILDREN. 16 16 0 16 0 0 1489917 1002298 83726 108348 324722 223596 0 0 1898365 1334242 1205922 1137671 0 0 0 0 0 0 5173 1125229 1086414 2331151 2224085 -432786 -889843 8038883 6857477 1021608 730045 7017275 6127432 X THE CHILDREN'S INVESTMENT FUND'S (CIF) PRIMARY PURPOSE IS TO IMPROVE THE QUALITY OF AND EXPAND ACCESS TO EARLY LEARNING AND SCHOOL-AGE CHILD CARE PROGRAMS FOR LOW AND MODERATE-INCOME FAMILIES. IN ORDER TO BROADEN THE IMPACT OF ITS WORK CIF ALSO SEEKS TO SUPPORT AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES THROUGH PLACE-BASED TWO-GENERATION AND OTHER STRATEGIES THAT RESULT IN SAFER, HEALTHIER AND MORE STABLE ENVIRONMENTS IN WHICH TO RAISE YOUNG CHILDREN. 0 0 383470 EARLY EDUCATION AND OUT OF SCHOOL TIME (EEOST) CAPITAL FUND AND EARLY EDUCATION AND CARE PROVIDER CAPITAL GRANT PROGRAM (EECPCG): THE EEOST PROGRAM WAS FIRST AUTHORIZED BY THE MASSACHUSETTS LEGISLATURE AS PART OF THE 2013 COMMUNITY DEVELOPMENT CAPITAL BOND BILL. IN MAY 2018, EEOST WAS REAUTHORIZED BY THE LEGISLATURE AS PART OF THE HOUSING CAPITAL BOND BILL. EACH OF THOSE BOND BILLS AUTHORIZED THE ISSUANCE OF UP TO $45 MILLION IN GENERAL OBLIGATION BONDS, SUBJECT TO ANNUAL ALLOCATIONS DETERMINED BY THE EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE. IN AUGUST 2024, THE LEGISLATURE REAUTHORIZED THE PROGRAM FOR UP TO $50 MILLION, SUBJECT TO ANNUAL ALLOCATIONS DETERMINED BY THE EXECUTIVE OFFICE OF ADMINISTRATION AND FINANCE. THE PURPOSE OF EEOST IS TO PROVIDE CAPITAL GRANTS TO LICENSED CENTER-BASED NONPROFIT EARLY EDUCATION AND OUT-OF-SCHOOL TIME PROGRAMS TO FUND FACILITY ACQUISITION, DESIGN, CONSTRUCTION AND/OR RENOVATION. EECPCG IS DESIGNATED FOR FOR-PROFIT CENTERS TO DEVELOP AND/OR REHABILITATE ELIGIBLE FACILITIES IN WHICH A CERTAIN NUMBER OF SLOTS ARE RESERVED TO SERVE LOW-INCOME FAMILIES. CIF, UNDER CONTRACT WITH CEDAC, UNDERWRITES, CLOSES AND DISBURSES THE GRANT FUNDS AWARDED BY THE DEPARTMENT OF EARLY EDUCATION AND CARE (EEC). AS OF JUNE 30, 2025, $62.4 MILLION HAS BEEN AWARDED TO CHILD CARE PROVIDERS SINCE 2013 UNDER THE EEOST AND EECPCG PROGRAMS. 475819 108348 TECHNICAL ASSISTANCE AND LENDING: CIF PROVIDES A FULL RANGE OF FINANCING, TRAINING, AND TECHNICAL SERVICES OPTIONS FOR EARLY EDUCATION AND OUT-OF-SCHOOL TIME PROVIDERS SEEKING TO CONSTRUCT OR IMPROVE THEIR FACILITIES. CIF'S SIGNATURE TRAINING, THE BUILDING STRONGER CENTERS INSTITUTE, IS A FOUR-DAY, INTENSIVE TRAINING DESIGNED FOR CHILDCARE CENTERS THAT ARE PLANNING A MAJOR RENOVATION OR CONSTRUCTION PROJECT. CONTENT INCLUDES INFORMATION ON THE DEVELOPMENT PROCESS, FINANCING STRATEGIES, HIGH-QUALITY DESIGN, AND EXAMPLES OF SUCCESSFUL PROJECTS. IN ADDITION TO PROVIDING TECHNICAL EXPERTISE AND TRAINING, CIF OFFERS PREDEVELOPMENT, SITE ACQUISITION, CONSTRUCTION LOANS, AND TERM LOANS TO HELP FINANCE THE COST OF DEVELOPING LARGER CAPITAL PROJECTS, LEASEHOLD IMPROVEMENTS, AND EQUIPMENT ON FLEXIBLE LOAN TERMS THAT MEET THE NEEDS OF CHILDCARE PROVIDERS OF ALL SIZES. IN 2018, CIF EXTENDED THIS SUPPORT TO AFFORDABLE HOUSING DEVELOPERS THAT ARE CREATING FAMILY UNITS IN MASSACHUSETTS. 1170654 1137671 FACILITY IMPROVEMENT GRANTS: CIF RAISES CAPITAL THAT CAN BE USED FOR GRANTS TO PROVIDERS TO FUND THE COST OF FACILITY IMPROVEMENTS. CIF HAS RECEIVED TOTAL FUNDING OF $2 MILLION FROM THE LIBERTY MUTUAL FOUNDATION TO FUND ACCESSIBILITY IMPROVEMENTS IN BOSTON-BASED EARLY EDUCATION AND OUT-OF-SCHOOL TIME CENTERS. IN FISCAL YEAR 2024, CIF RECEIVED A GRANT FROM THE U.S. DEPARTMENT OF THE TREASURY'S CDFI FUND FOR $986,991 UNDER THE EQUITABLE RECOVERY PROGRAM (ERP). CIF IS USING THESE FUNDS TO PROVIDE CAPITAL GRANTS TO CHILD CARE PROVIDERS LOCATED IN LOW OR MODERATE-INCOME MAJORITY MINORITY CENSUS TRACTS IN MASSACHUSETTS. CIF HAS AWARDED $960,000 OF THE ERP GRANTS TO FIVE PROVIDERS AS OF JUNE 30, 2025. 2029943 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X COMMUNITY ECONOMIC DEVELOPMENT ASSI 6177275944 18 TREMONT ST SUITE 500 BOSTON MA 02108 X AMY O'LEARY PRESIDENT 1.50 X X 0 0 0 WAYNE YSAGUIRRE VICE PRESIDENT 1.50 X X 0 0 0 KARLEY AUSIELLO TREASURER 1.50 X X 0 0 0 SHARON SCOTT-CHANDLER BOARD MEMBER/CLERK 1.50 X X 0 0 0 MICHAEL LINDSTROM BOARD MEMBER 1.00 X 0 0 0 CARL SUSSMAN BOARD MEMBER 1.00 X 0 0 0 MARGARET SPRAGUE BOARD MEMBER 1.00 X 0 0 0 RENEE BOYNTON-JARRETT BOARD MEMBER 1.00 X 0 0 0 RICHARD MURAIDA BOARD MEMBER 1.00 X 0 0 0 LESLIE REID BOARD MEMBER 1.00 X 0 0 0 DAWN DISTEFANO BOARD MEMBER 1.00 X 0 0 0 CATHERINE DUN RAPPAPORT BOARD MEMBER 1.00 X 0 0 0 CHRISTI STAPLES BOARD MEMBER 1.00 X 0 0 0 JESSICA ANDORS BOARD MEMBER 1.00 X 0 0 0 DEBORAH HALL BOARD MEMBER 1.00 X 0 0 0 KENNETH WILLIS BOARD MEMBER 1.00 X 0 0 0 ANNE DOUGLASS BOARD MEMBER (LEFT DURING FY25) 1.00 X 0 0 0 0 0 0 0 0 0 0 CEDAC 18 TREMONT STREET SUITE 500 BOSTON MA 02108 MANAGEMENT SERVICES 1051089 1 719230 283068 1002298 LOAN INTEREST AND FEES 900099 108348 108348 108348 223596 223596 1334242 108348 0 223596 X 1137671 1137671 763 763 35200 35200 1019567 890336 124058 5173 1292 1292 19668 19668 MISCELLANEOUS 9924 644 9280 2224085 2029943 188969 5173 47361 96710 5872811 4227770 501991 100000 1418784 2260410 197936 172587 8038883 6857477 201608 170045 820000 60000 500000 1021608 730045 X 2543074 2664676 4474201 3462756 7017275 6127432 8038883 6857477 -889843 0 X X 0 1 X 1 0 X 963179 2081654 1657431 1489917 1002298 7194479 86789 79907 64236 230932 1049968 2081654 1657431 1569824 1066534 7425411 2171674 5253737 5440 14405 214568 324722 223596 782731 8208142 535609 0.64010 0.66440 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 LOANS RECEIVABLE 2260410 C 2260410 X 1398478 64236 64236 1334242 0 1334242 2288321 64236 64236 2224085 0 2224085 PART X, LINE 2: CHILDREN'S INVESTMENT FUND ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. CHILDREN'S INVESTMENT FUND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS AT JUNE 30, 2025. CHILDREN'S INVESTMENT FUND'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY FEDERAL AND STATE JURISDICTIONS. 1 NURTURY 2201 WASHINGTON STREET ROXBURY MA 02119 042105893 501(C)(3) 195000 0 LMF 2 - INTERIOR CLASSROOM RENOVATIONS VIETAID 42 CHARLES STREET DORCHESTER MA 02122 043289039 501(C)(3) 195000 0 LMF 2 - INTERIOR BATHROOM AND CLASSROOM RENOVATIONS, ACCESSIBILITY UPGRADES SPORTSMEN'S TENNIS & ENRICHMENT CENTER 950 BLUE HILL AVE DORCHESTER MA 02124 237037183 195000 0 LMF 2 - BATHROOM RENOVATIONS UNITED SOUTH END SETTLEMENTS 48 RUTLAND STREET BOSTON MA 02118 042104280 501(C)(3) 195000 0 LMF 2 - OUTDOOR PLAY SPACE IMPROVEMENTS EAST BOSTON SOCIAL CENTERS 68 CENTRAL SQUARE EAST BOSTON MA 02128 042104257 501(C)(3) 6321 0 LMF 1 - OUTDOOR PLAY SPACE IMPROVEMENTS PAIGE ACADEMY 26/28 HIGHLAND AVE ROXBURY MA 02119 237404791 501(C)(3) 98258 0 LMF 1 - ACCESSIBILITY UPGRADES INCLUDING A RAMP AND INTERIOR RENOVATIONS THE CRISPUS ATTUCKS CHILDREN'S CENTER INC 105 CRAWFORD STREET DORCHESTER MA 02121 042457984 501(C)(3) 165000 0 LMF 1 - ACESSIBILITY UPGRADES INCLUDING EXTERIOR REPAIRS, ELEVATOR REPAIR, AND SECURITY PAIGE ACADEMY 26/28 HIGHLAND AVE ROXBURY MA 02119 237404791 501(C)(3) 60000 0 CDFI ERP - MASONRY REPAIR, WATERPROOFING, AND ADDITIONAL RENOVATIONS 6 1 PART I, LINE 2: CHILDREN'S INVESTMENT FUND (CIF) ONLY AWARDS CAPITAL IMPROVEMENT GRANTS THAT ARE COST REIMBURSABLE. CIF WILL REIMBURSE FOR EXPENDITURES ONCE AN INVOICE IS RECEIVED DETAILING ELIGIBLE COSTS. CIF ALSO HAS A 5 YEAR REPORTING REQUIREMENT TO ENSURE THE GRANTEES CONTINUED USE OF THE FACILITIES FOR CHILD CARE PURPOSES. CIF ALSO PERFORMS PERIODIC SITE VISITS OF GRANTEES AS PART OF ITS MONITORING PROCESS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY STAFF IN DETAIL, THEN REVIEWED AND APPROVED BY THE BOARD PRESIDENT AND TREASURER, AND THEN PROVIDED FOR REVIEW BY THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C ALL BOARD MEMBERS ARE REQUIRED TO COMPLETE CONFLICT OF INTEREST DISCLOSURES ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE DIRECTOR AND ALL KEY EMPLOYEES ARE EMPLOYEES OF CEDAC. PERIODICALLY CEDAC WILL CONDUCT A COMPENSATION SURVEY AND BENEFITS SURVEY TO ASSESS COMPARABILITY WITH LIKE ORGANIZATIONS. COMPENSATION IS BASED ON THESE RESULTS, ADJUSTING FOR THE SIZE AND COMPLEXITY OF EACH ORGANIZATION SURVEYED IN COMPARISON TO CEDAC AND CIF. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL PROVIDE THE INFORMATION UPON REQUEST. FORM 990, PART IX, LINE 11G CONTRACTED STAFFING: PROGRAM SERVICE EXPENSES 870,548. MANAGEMENT AND GENERAL EXPENSES 87,537. FUNDRAISING EXPENSES 5,173. TOTAL EXPENSES 963,258. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 19,788. MANAGEMENT AND GENERAL EXPENSES 36,521. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 56,309. FORM 990, PART XI,LINE 2C: THE BOARD AND THE AUDIT COMMITTEE OVERSEES THE SELECTION OF THE AUDITORS AND MEETS WITH THE AUDITORS AT THE CONCLUSION OF THE AUDIT TO REVIEW THE RESULTS.