2025-11-10T10:57:57-06:00 2024-12-31 833019782 STONE & COMPANY LLC 57 BEDFORD ST STE 225 LEXINGTON MA 02420 990 2024-01-01 821543658 BOSTON IMPACT INITIATIVE FUND BOST 6177029132 PO BOX 300443 JAMAICA PLAIN MA 02130 BETTY FRANCISCO CEO 6177029132 2025-11-06 1 0 DIANE WEST CPA P01061849 7818636300 2025-11-04 2024 2025-03-06 01:10:19Z BETTY FRANCISCO 2225 WASHINGTON STREET 2ND FLOOR ROXBURY MA 02119 5409152 0 X WWW.BOSTONIMPACT.ORG X 2017 MA FORM 990 - ORGANIZATION'S MISSION OR MOST SIGNIFICANT ACTIVITIESBOSTON IMPACT INITIATIVE (BII) IS A NONPROFIT IMPACT INVESTMENT FUND AND CERTIFIED COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI). BII PROVIDES SMALL BUSINESSES, COOPERATIVES, COMMUNITY-CONTROLLED REAL ESTATE PROJECTS, AND IMPACT FUND MANAGERS WITH FAIR AND FLEXIBLE CAPITAL, EXPERT ADVISING, AND TRUSTED NETWORKS TO BUILD COMMUNITY OWNERSHIP, SHARED WEALTH, AND ECONOMIC POWER, PARTICULARLY IN COMMUNITIES OF COLOR IN MASSACHUSETTS AND NEW ENGLAND. 7 6 14 14 0 0 1640671 4506582 57146 426160 182518 404362 68070 72048 1948405 5409152 6130 2915 0 0 967506 1374213 0 0 197530 1163626 1400727 2137262 2777855 -188857 2631297 15981911 23385414 13075946 18284831 2905965 5100583 X SEE SCHEDULE O 0 0 1126118 2915 404867 SEE SCHEDULE O 345341 93341 SEE SCHEDULE O N/A 1471459 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 29 0 1 14 1 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 0 1 1 0 MA X X WILLIAM TSOULES 6177029132 2225 WASHINGTON STREET 2ND FLOOR ROXBURY MA 02119 BETTY FRANCISCO CEO 40.00 X X 221880 0 6958 LISA OWENS VICE CHAIR 1.00 X 0 0 0 GUILLERMO QUINTEROS DIRECTOR 1.00 X 0 0 0 JUAN LEYTON BOARD CHAIR 3.00 X X 0 0 0 ROSE FELIX CRATSLEY SECRETARY 1.00 X X 0 0 0 NIA EVANS DIRECTOR 1.00 X 0 0 0 REBECCA REGAN TREASURER 3.00 X X 0 0 0 KAFILAT LAWAL FINANCIAL CONTROLLER 40.00 X 116091 0 6029 HENRY NOEL INVESTMENT DIRECTOR 40.00 X 144480 0 4499 ALIANA PINEIRO IMPACT DIRECTOR 40.00 X 139416 0 4587 621867 0 22073 4 0 1 0 ECRATCHIT INC 2 SHARP STREET UNIT B HINGHAM MA 02043 ACCOUNTING 165647 1 4506582 4506582 PROGRAMMATIC INVESTMEN 541900 332819 332819 SERVICE FEES 523000 93341 93341 426160 404362 404362 72048 72048 72048 5409152 498208 0 404362 X 2915 2915 221880 133128 39938 48814 974312 572878 297737 103697 31062 18359 9846 2857 43711 25833 13857 4021 103248 59227 30962 13059 280800 280800 407403 145216 240896 21291 5269 446 3324 1499 41035 25935 14930 170 44140 19893 22125 2122 18896 18896 85840 58973 26867 403964 403964 15768 15768 39522 39522 MISCELLANEOUS 41418 4334 37084 BANK AND RELATED FEES 16672 358 16314 2777855 1471459 1108866 197530 2554912 3594232 5288705 10682848 718750 754544 45710 60806 12425 6625 72259 102378 7071009 7987720 177190 192398 40951 3863 15981911 23385414 486594 626121 1034012 1044322 11532411 16612588 22929 1800 13075946 18284831 X 1678532 1121341 1227433 3979242 2905965 5100583 15981911 23385414 X 2631297 -436679 X 0 1 X 1 0 X X X 3 CENTER FOR ECONOMIC DEMOCRACY INC 473589804 10 1 0 0 URBAN REVIVAL INC 042660311 10 1 0 0 RUDOLF STEINER FOUNDATION INC 136082763 10 1 0 0 3 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 CARE ACADEMY (LOAN) 500000 C EBNT HOLDINGS (LOAN) 500000 C 88 ACRES FOOD(EQUITY) 206444 C WASH CYCLE LAUND(EQUITY) 200000 C 88 ACRES (EQUITY) 164543 C SOMERVILLE CDC (LOAN) 100000 C SOMERVILLE CDC (LOAN) 300000 C CARE ACADEMY INC. (EQUITY) 150000 C CARE ACADEMY INC. (EQUITY) 300000 C FIVE STAR PLATING (LOAN) 56743 C INTEREST RECEIVABLE 349804 C PLANETA (LOAN) 101943 C 88 ACRES FOOD (2019.12.16)(EQUITY) 101030 C TRILLFIT (EQUITY) 100000 C CFNE (LOAN) 100000 C NUEVO DIA (EQUITY) 100000 C SUNWEALTH POWER, INC. (EQUITY) 100000 C 88 ACRES(EQUITY) 99998 C RENEW ENERGY (EQUITY) 31293 C MATH TALK (EQUITY) 89108 C BEANTOWN (LOAN) 32660 C HILLSIDE HARVEST (LOAN) 65669 C FUTURO MEDIA (LOAN) 5840 C WASH CYCLE LAUNDRY (LOAN) 60504 C CHOPVALUE (EQUITY) 50000 C CHOP VALUE (EQUITY) 50000 C SOMERVILLE CDC (LOAN) 50000 C PLANETA (LOAN) 50000 C CASABE (LOAN) 34031 C PLANETA (LOAN) 45000 C EMVISION (LOAN) 25740 C WASH CYCLE LAUNDRY (2017.09.23)(EQUITY) 39496 C WAKU (LOAN) 38532 C EMVISION (LOAN) 17202 C ALL IN ENERGY (LOAN) 8741 C QUALITY INTERACTIONS (LOAN) 250000 C CERO COOPERATIVE (LOAN) 7070 C DEMOCRACY BREWING (EQUITY) 5000 C CICD (LOAN) 50000 C CICD (LOAN) 50000 C PLANETA (LOAN) 25000 C PLANETA (LOAN) 25000 C KINGSTOWN 100000 C CPA MA (LOAN) 100000 C PLANETA (LOAN) 500000 C SUNWEALTH (LOAN) 500000 C MATH TALK (LOAN) 200000 C MATH TALK (LOAN) 99999 C SIGN SPEAK (LOAN) 150000 C SIGN SPEAK (LOAN) 300000 C THRIVE! (LOAN) 50000 C BWB (LOAN) 262500 C ASWR 220965 C SOLOMON (LOAN) 90000 C SOLOMON (LOAN) 67900 C INNOVATION (LOAN) 150000 C BONTERRA (EQUITY) 47745 C MEETCAREGIVERS (EQUITY) 60000 C MEETCAREGIVERS (EQUITY) 154754 C MEETCAREGIVERS (EQUITY) 60000 C FLORENT (EQUITY) 100000 C FLORENT (EQUITY) 99999 C BONTERRA (EQUITY) 42011 C AYNI 357356 C ECO AUTO 250000 C VHI 123278 C EDUPORIUM 300000 C ALLOWANCE FOR DOUBTFUL ACCOUNTS -1035178 C 7987720 LEASE LIABILITY 1800 1800 X 5914838 505686 505686 5409152 0 5409152 3283541 505686 505686 2777855 0 2777855 PART X, LINE 2: THE ORGANIZATION ACCOUNTS FOR THE EFFECT OF ANY UNCERTAIN TAX POSITIONS BASED ON APPLICATION OF A "MORE LIKELY THAN NOT" THRESHOLD TO THE RECOGNITION OF THE TAX POSITIONS BEING SUSTAINED BASED ON THE TECHNICAL MERITS OF THE POSITION UNDER SCRUTINY BY THE APPLICABLE TAXING AUTHORITY. IF A TAX POSITION OR POSITIONS ARE DEEMED TO RESULT IN UNCERTAINTIES OF THOSE POSITIONS, THE UNRECOGNIZED TAX BENEFIT IS ESTIMATED BASED ON A "CUMULATIVE PROBABILITY ASSESSMENT" THAT AGGREGATES THE ESTIMATED TAX LIABILITY FOR ALL UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES ASSESSED, IF ANY, ARE ACCRUED AS INCOME TAX EXPENSE. THE ORGANIZATION IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. THE ORGANIZATION HAS IDENTIFIED ITS TAX STATUS AS A TAX-EXEMPT ENTITY AS ITS ONLY SIGNIFICANT TAX POSITION; HOWEVER, THE ORGANIZATION HAS DETERMINED THAT SUCH A TAX POSITION DOES NOT RESULT IN AN UNCERTAINTY REQUIRING RECOGNITION. PART XI, LINE 2B: PER AUDITED FINANCIALS, THE ORGANIZATION RECOGNIZED $505,686 OF DONATED PROFESSIONAL SERVICES. THESE ARE EXCLUDED FROM FORM 990 REVENUE AND EXPENSES PER IRS REPORTING INSTRUCTIONS. PART XII, LINE 2A: PER AUDITED FINANCIALS, THE ORGANIZATION RECOGNIZED $505,686 OF DONATED PROFESSIONAL SERVICES. THESE ARE EXCLUDED FROM FORM 990 REVENUE AND EXPENSES PER IRS REPORTING INSTRUCTIONS. 1 X X 0 0 0 0 0 0 0 0 0 BETTY FRANCISCO CEO 221880 0 0 0 0 0 6656 0 302 0 228838 0 0 0 DEBORAH FRIEZE FOUNDER FUNDING X 250000 266705 0 1 1 MICHAEL FRIEZE FOUNDER FUNDING X 250000 266705 0 1 1 DEBORAH FRIEZE FOUNDER FUNDING X 250000 255456 0 1 1 MICHAEL FRIEZE FOUNDER FUNDING X 250000 255456 0 1 1 1044322 FORM 990 - ORGANIZATION'S MISSION BII IS A NONPROFIT IMPACT INVESTMENT FUND AND CERTIFIED CDFI. BII PROVIDES SMALL BUSINESSES, COOPERATIVES, COMMUNITY-CONTROLLED REAL ESTATE PROJECTS WITH FAIR AND FLEXIBLE CAPITAL, EXPERT ADVISING, AND TRUSTED NETWORKS TO BUILD COMMUNITY OWNERSHIP, SHARED WEALTH, AND ECONOMIC POWER, PARTICULARLY IN COMMUNITIES OF COLOR IN MASSACHUSETTS AND NEW ENGLAND. WE DO THIS BY INVESTING INTEGRATED CAPITAL A BLEND OF LOANS, EQUITY, GRANTS PLUS TECHNICAL ASSISTANCE, AND BUSINESS RESOURCES TO MEET ENTREPRENEURS WHERE THEY ARE AND GROW THEIR IMPACT. BII ALSO PROVIDES EDUCATION AND TRAINING TO FELLOW INVESTORS, IMPACT FUND MANAGERS AND PHILANTHROPISTS NATIONWIDE TO BUILD THE FIELD OF IMPACT INVESTING WITH AN ECONOMIC JUSTICE LENS. FORM 990, PART III, LINE 4A - FIRST ACCOMPLISHMENT BII FUND I BII'S INAUGURAL FUND ("BII FUND I") WAS LAUNCHED IN 2017 TO INVEST INTEGRATED CAPITAL - A BLEND OF LOANS, EQUITY, GRANTS, TECHNICAL ASSISTANCE, AND NETWORKS - IN REGENERATIVE LOCAL ENTERPRISES IN EASTERN MASSACHUSETTS OWNED BY LOCAL ENTREPRENEURS OF COLOR OR THAT SERVE LOCAL COMMUNITIES, PARTICULARLY COMMUNITIES OF COLOR. BY USING THIS "WHOLE PORTFOLIO" APPROACH, BII SELECTS THE BEST CAPITAL INSTRUMENT FOR THE AGE AND STAGE OF EACH ORGANIZATION IN WHICH IT INVESTS. IN ADDITION TO MAKING INVESTMENTS IN THESE ENTERPRISES, BII PROVIDES TECHNICAL ASSISTANCE, BUSINESS COACHING, CONNECTIONS, AND EDUCATIONAL PROGRAMMING TO SUPPORT ITS PORTFOLIO INVESTMENTS, STRENGTHEN THE IMPACT OF THESE ENTERPRISES IN THEIR COMMUNITIES, AND IMPROVE THE EFFECTIVENESS OF ENTREPRENEURIAL SERVICES. BII FUND I HAS MADE CUMULATIVE INTEGRATED CAPITAL INVESTMENTS OF APPROXIMATELY $6.9 MILLION OF DEBT AND EQUITY INVESTMENTS ACROSS 50 ENTERPRISES AND $1.2 MILLION AWARDED IN CUMULATIVE GRANTS TO OVER 60 NONPROFIT ORGANIZATIONS FROM A SEPARATE GRANT POOL AS OF DECEMBER 31, 2024. BII FUND II IN MAY 2022, BII ESTABLISHED BOSTON IMPACT INITIATIVE FUND II LLC ("BII FUND II") A WHOLLY-OWNED SUBSIDIARY OF BII FOR THE PURPOSE OF LAUNCHING BII'S SECOND INTEGRATED CAPITAL FUND. BII FUND II IS A $20 MILLION DEBT FUND THAT WILL INVEST INTEGRATED CAPITAL INTO EARLY-STAGE SOCIAL ENTERPRISES OWNED BY ENTREPRENEURS OF COLOR AND COMMUNITY-CONTROLLED REAL ESTATE IN MASSACHUSETTS AND THE NORTHEAST. BII FUND II PRIORITIZES INVESTMENTS IN ENTERPRISES THAT ADDRESS AN UNMET NEED OR ISSUE AFFECTING COMMUNITIES OF COLOR, BUILD CLIMATE RESILIENCE AND EXPAND CLEAN ENERGY SOLUTIONS, AND GROW WORKER OR COMMUNITY POWER AND VOICE, INCLUDING CO-OPS, AND WORKER-OWNED AND UNIONIZED BUSINESSES. BII FUND II ALSO INVESTS IN COMMERCIAL AND RESIDENTIAL REAL ESTATE PROJECTS THAT SUPPORT COMMUNITY OWNERSHIP AND CONTROL OF LAND TO PREVENT DISPLACEMENT. BII FUND II INVESTED A TOTAL OF $6.1 MILLION IN 18 ENTERPRISES AND REAL ESTATE PROJECTS AS OF DECEMBER 31, 2024. FORM 990, PART III, LINE 4B - SECOND ACCOMPLISHMENT BII ENGAGES IN FIELD-BUILDING, EDUCATION AND ADVOCACY INITIATIVES THAT CHALLENGE CONVENTIONAL BELIEFS ABOUT OWNERSHIP, COMPETITION, PROFIT-MAKING AND CONTROL OF CAPITAL. THROUGH PRACTICE AND POLICY, BII IS ADVANCING FRESH PERSPECTIVES ON TRUST-BASED INVESTING, INTEGRATED RISK AND RETURN, AND DEMOCRATIZING OWNERSHIP AND DECISION-MAKING TO ADVANCE ECONOMIC JUSTICE. BII'S FIELD-BUILDING PROGRAMS INCLUDE: 1. EMERGING IMPACT FUND MANAGER EDUCATION PROGRAM. THE EMERGING IMPACT FUND MANAGER EDUCATION PROGRAM EQUIPS FUND MANAGERS WITH THE SKILLS AND KNOWLEDGE THEY NEED TO STRUCTURE, RAISE AND MANAGE A BLENDED CAPITAL FUND. THE PURPOSE OF THESE FUNDS IS TO BUILD SUSTAINABLE, INCLUSIVE AND EQUITABLE LOCAL ECONOMIES THAT BUILD WEALTH AND POWER, PARTICULARLY IN UNDERSERVED COMMUNITIES. 2. IMPACT CAPITAL LAB (ADVISORY SERVICES). BII DELIVERS CUSTOMIZED ADVISORY SERVICES AND EDUCATIONAL TRAINING THROUGH ITS IMPACT CAPITAL LAB PROGRAM TO SUPPORT AND AMPLIFY THE SUCCESS OF INDIVIDUAL AND INSTITUTIONAL INVESTORS AND PHILANTHROPISTS FOCUSED ON COMMUNITY-BASED IMPACT INVESTING. 3. INTEGRATED CAPITAL CARDS AND PROGRAM. THE INTEGRATED CAPITAL CARDS AND PROGRAM IS DESIGNED TO HELP FUND MANAGERS, FUNDERS, ENTREPRENEURS, AND IMPACT AND COMMUNITY INVESTORS LEARN HOW TO USE CREATIVE FINANCIAL TOOLS FOR SOLVING WEALTH INEQUALITY. FORM 990, PART VI, SECTION A, LINE 7A BII HAS A STANDING INVESTMENT COMMITTEE THAT REVIEWS AND RECOMMENDS POTENTIAL INVESTMENT OPPORTUNITIES TO THE BII BOARD. THEIR RECOMMENDATIONS ARE APPROVED BY THE BOARD. THERE ARE NO MATERIAL DIFFERENCES BETWEEN THE GOVERNING BODY'S VOTING RIGHTS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE FUND'S EXTERNAL ACCOUNTING FIRM AND THEN DISTRIBUTED TO THE BOARD FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION B, LINE 12C ALL BII BOARD MEMBERS ARE REQUIRED TO SIGN AN ANNUAL CONFLICT OF INTEREST FORM. IF BII IS DELIBERATING ON A PARTICULAR PROGRAMMATIC INVESTMENT, AND IF THERE ARE ANY CONFLICTS OF INTEREST, THE BOARD MEMBER(S), THE INVESTMENT COMMITTEE MEMBER(S) OR STAFF MEMBER(S) ARE EXPECTED TO DISCLOSE THE CONFLICT AND RECUSE THEMSELVES FROM THE DELIBERATION PROCESS. FORM 990, PART VI, SECTION B, LINE 15 LINE 15A A RECOMMENDATION IS MADE TO THE FULL BOARD FOR THE COMPENSATION OF THE CEO AND TOP MANAGEMENT BASED UPON A REVIEW OF COMPARABLE DATA. LINE 15B COMPENSATION FOR OTHER OFFICERS AND KEY EMPLOYEES ARE DISCUSSED AND VOTED ON AT BOARD MEETINGS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. NO REQUESTS OF THESE DOCUMENTS WERE MADE DURING THE YEAR. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 110,355. MANAGEMENT AND GENERAL EXPENSES 146,924. FUNDRAISING EXPENSES 21,291. TOTAL EXPENSES 278,570. ADMIN SUPPORT: PROGRAM SERVICE EXPENSES 582. MANAGEMENT AND GENERAL EXPENSES 10,706. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 11,288. OTHER FEES: PROGRAM SERVICE EXPENSES 34,279. MANAGEMENT AND GENERAL EXPENSES 83,266. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 117,545. FORM 990, PART XI, LINE 9: INVESTMENT IMPAIRMENT LOSSES -436,679. BOSTON IMPACT INITIATIVE FUND II 2300 WASHINGTON STREET 2ND FLOOR ROXBURY MA 02119 821543658 LENDING MA URBAN REVIVAL INC 284 AMORY STREET 1ST FLOOR JAMAICA PLAIN MA 02130 042660311 HOUSING MA 501(C)(3) LINE 7 N/A 0 RUDOLF STEINER FOUNDATION INC 1002 OREILLY AVENUE SAN FRANCISCO CA 94129 136082763 LENDING & CA 501(C)(3) LINE 10 N/A 0 CENTER FOR ECONOMIC DEMOCRACY INC 69 ROBESON STREET STE 6 JAMAICA PLAIN MA 02130 473589804 LENDING & MA 501(C)(3) LINE 7 N/A 0 BOSTON IMPACT INITIATIVE LLC 14 CHESTNUT PL STE 1 JAMAICA PLAIN MA 02130 461304300 LENDING MA N/A 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0