Calvert Impact Capital Inc
- Assets
- $659.3m
- Revenue
- $30.1m
- Investments
- $0.0
- Employees
- 44
- Location
- Bethesda, MD
- Founding
- 06/1989
- Data as of
- 12/2022
- EIN
- 52-1591398
Organization Overview
Calvert Impact Capital Inc is located in Bethesda, MD. The organization was established in 1989. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Calvert Impact Capital Inc employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Calvert Impact Capital Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Calvert Impact Capital Inc generated $30.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.2% each year. All expenses for the organization totaled $31.1m during the year ending 12/2022. While expenses have increased by 10.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Calvert Impact Capital Inc has awarded 208 individual grants totaling $4,122,847. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CALVERT IMPACT CAPITAL, INC. WORKS TO MAXIMIZE THE FLOW OF CAPITAL TO COMMUNITY DEVELOPMENT ORGANIZATIONS FOR THE BENEFIT OF UNDERSERVED COMMUNITIES AND INDIVIDUALS TO ACHIEVE A MORE EQUITABLE AND SUSTAINABLE SOCIETY.
Describe the Organization's Program Activity:
CALVERT IMPACT CAPITAL'S COMMUNITY INVESTMENT NOTES ARE DEBT SECURITIES THAT HELP TO CHANNEL INVESTOR CAPITAL TO HIGH-IMPACT COMMUNITY DEVELOPMENT INITIATIVES. EACH AND EVERY DOLLAR INVESTED IN THE NOTE IS PLACED IN A DIVERSIFIED LOAN POOL WITH THE OBJECTIVE OF EARNING BOTH A FINANCIAL AND A SOCIAL RETURN. THE CAPITAL RAISED THROUGH THE NOTES DIRECTLY SUPPORTS THE FINANCING NEEDS OF DOMESTIC AND INTERNATIONAL COMMUNITY DEVELOPMENT ORGANIZATIONS, PROJECTS, FUNDS, AND OTHER SOCIAL ENTERPRISES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Pryce President & CEO | Officer | 40 | $505,167 |
Derek Strocher Chief Financial Officer | Officer | 40 | $417,578 |
Justin Conway Secretary, President Of Cip | Officer | 40 | $311,899 |
Catherine Godschalk Vp, Lending | 40 | $294,495 | |
Elizebeth Bafford Vp, Syndications & Strategy | 40 | $279,013 | |
Lauri Michel VP Risk Management | 40 | $272,479 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Johnson Lambert Llp Audit Services | 12/30/22 | $155,335 |
Warner Norcross & Judd Llp Legal Services | 12/30/22 | $317,967 |
Artemis Ward Llc Brand Development | 12/30/22 | $130,000 |
Morgan Lewis & Bockius Llp Legal Services | 12/30/22 | $151,012 |
Wipfli Llp It Services | 12/30/22 | $460,213 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,951,019 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,951,019 |
| Total Program Service Revenue | $21,995,540 |
| Investment income | $2,293,230 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $889,096 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,134,256 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $559,589 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,326,044 |
| Compensation of current officers, directors, key employees. | $193,176 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,380,745 |
| Pension plan accruals and contributions | $351,495 |
| Other employee benefits | $465,922 |
| Payroll taxes | $305,068 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $607,700 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $112,410 |
| Fees for services: Other | $760,914 |
| Advertising and promotion | $9,238 |
| Office expenses | $131,265 |
| Information technology | $399,838 |
| Royalties | $0 |
| Occupancy | $335,745 |
| Travel | $160,758 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,058 |
| Interest | $13,025,314 |
| Payments to affiliates | $3,000,000 |
| Depreciation, depletion, and amortization | $456,228 |
| Insurance | $96,079 |
| All other expenses | $32,329 |
| Total functional expenses | $31,119,797 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $107,012,017 |
| Savings and temporary cash investments | $2,065,384 |
| Pledges and grants receivable | $4,894,648 |
| Accounts receivable, net | $2,149,405 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,873,703 |
| Net Land, buildings, and equipment | $1,314,587 |
| Investments—publicly traded securities | $34,291,585 |
| Investments—other securities | $0 |
| Investments—program-related | $500,960,349 |
| Intangible assets | $0 |
| Other assets | $4,783,767 |
| Total assets | $659,345,445 |
| Accounts payable and accrued expenses | $5,148,724 |
| Grants payable | $3,000,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $608,982,619 |
| Other liabilities | $4,489,206 |
| Total liabilities | $621,620,549 |
| Net assets without donor restrictions | $37,537,325 |
| Net assets with donor restrictions | $187,571 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $659,345,445 |
Grants Awarded
Over the last fiscal year, Calvert Impact Capital Inc has awarded $325,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
URBAN ADVISORS PURPOSE: GENERAL SUPPORT | $75,000 |
URBAN LAND CONSERVANCY PURPOSE: GENERAL SUPPORT | $250,000 |