Childrens Investment Fund Inc

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.

EARLY EDUCATION AND OUT OF SCHOOL TIME (EEOST) CAPITAL FUND: THE PROGRAM WAS FIRST AUTHORIZED BY THE MASSACHUSETTS LEGISLATURE AS PART OF THE 2013 COMMUNITY DEVELOPMENT CAPITAL BOND BILL. IN MAY 2018, EEOST WAS RE-AUTHORIZED BY THE LEGISLATURE AS PART OF THE HOUSING CAPITAL BOND BILL. EACH OF THE BOND BILLS HAVE 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 JULY 2024, EEOST WAS RE-AUTHORIZED FOR UP TO $50 MILLION. 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. CIF, UNDER CONTRACT WITH CEDAC, UNDERWRITES, CLOSES AND DISBURSES THE GRANT FUNDS AWARDED BY THE DEPARTMENT OF EARLY EDUCATION AND CARE FOR THE FIRST TIME, CIF STAFF PROVIDED A FACILITY IMPROVEMENT PROGRAM FOR FOR-PROFIT CENTER-BASED ORGANIZATIONS. THE PROGRAM OFFERS GRANTS BETWEEN $200K - $500K AND WILL UTILIZE $7.5 MILLION FROM THE DEPARTMENT OF EARLY EDUCATION AND CARE THROUGH AN APPROPRIATION FROM THE FAIR SHARE AMENDMENT.

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.

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 $900,000 OF THE ERP GRANTS TO FIVE PROVIDERS AS OF JUNE 30, 2024.