Boston Impact Initiative Fund is located in Jamaica Plain, MA. The organization was established in 2017. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Boston Impact Initiative Fund employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston Impact Initiative Fund 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, Boston Impact Initiative Fund generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 31.9% each year . All expenses for the organization totaled $2.1m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Boston Impact Initiative Fund has awarded 19 individual grants totaling $458,279. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BOSTON IMPACT INITIATIVE FUND'S MISSION IS TO HELP BUILD A FUTURE WHERE ENTREPRENEURS OF COLOR AND THEIR COMMUNITIES HAVE THE FINANCIAL, SOCIAL AND POLITICAL POWER TO CREATE A SUSTAINABLE, INCLUSIVE AND EQUITABLE ECONOMY FOR GENERATIONS TO COME. TO DO THIS, BII INVESTS INTEGRATED CAPITAL IN SOCIAL ENTERPRISES AND COMMUNITY-CONTROLLED REAL ESTATE TO INCREASE WEALTH AND ASSET-BUILDING OPPORTUNITIES FOR COMMUNITIES OF COLOR IN MASSACHUSETTS AND NEW ENGLAND. BII IS ALSO TRANSFORMING THE IMPACT INVESTING FIELD THROUGH FIELD-BUILDING AND EDUCATION SO THAT ECONOMIC AND RACIAL JUSTICE BECOMES INTEGRAL TO ANY COMMUNITY-CENTERED INVESTMENT STRATEGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BII MANAGES TWO INTEGRATED CAPITAL INVESTMENT FUNDS - BII FUND I AND BII FUND II. BII FUND I BII'S INAUGURAL FUND ("BII FUND I") WAS LAUNCHED IN 2017 TO INVEST INTEGRATED CAPITAL - DEFINED AS DEBT, EQUITY AND GRANTS - IN REGENERATIVE LOCAL ENTERPRISES IN EASTERN MASSACHUSETTS THAT ARE OWNED AND CONTROLLED BY ENTREPRENEURS OF COLOR OR THAT SERVE 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 7.7 MILLION. THIS TOTAL COMPRISES 6.9 MILLION OF DEBT AND EQUITY INVESTMENTS ACROSS 50 ENTERPRISES AND 852,193 AWARDED IN GRANTS FROM A SEPARATE GRANT POOL AS OF DECEMBER 31, 2022. IN 2022, BII FUND I MADE 6 IMPACT INVESTMENTS TOTALING 524,998. 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. IT AIMS TO BUILD ON BII'S TRACK RECORD OF INNOVATION IN INTEGRATED CAPITAL TOOLS-PRIMARILY PATIENT, NON- EXTRACTIVE EQUITY CAPITAL-IN SOCIAL ENTERPRISES AND COMMUNITY-CONTROLLED REAL ESTATE TO INCREASE WEALTH AND ASSET-BUILDING OPPORTUNITIES FOR COMMUNITIES OF COLOR. BII FUND II INVESTED A TOTAL OF 1.4 MILLION IN SIX ENTERPRISES AS OF DECEMBER 31, 2022.
BII ENGAGES IN FIELD-BUILDING, EDUCATION AND ADVOCACY INITIATIVES THAT CHALLENGE CONVENTIONAL BELIEFS ABOUT OWNERSHIP, COMPETITION, PROFIT-MAKING AND CONTROL-AND ADVANCE FRESH PERSPECTIVES ON TRUST-BASED INVESTING, INTEGRATED RISK AND RETURN, AND DEMOCRATIZING OWNERSHIP AND DECISION- MAKING. BII'S FIELD-BUILDING PROGRAMS INCLUDE: 1.EMERGING FUND MANAGER EDUCATION PROGRAM THE EMERGING FUND MANAGER EDUCATION PROGRAM EQUIPS FUND MANAGERS WITH DEVELOPING 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 RESTORE THE PRODUCTIVE CAPACITY OF COMMUNITIES OF COLOR. 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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Betty Francisco CEO | OfficerTrustee | 40 | $214,700 |
Lisa Owens Started 12822 Director | Trustee | 1 | $0 |
Mike Leyba Ended 12822 Director | Trustee | 1 | $0 |
Lisa Hayles Ended 72822 Secretary | OfficerTrustee | 1 | $0 |
Rose Felix Started 72822 Secretary | OfficerTrustee | 1 | $0 |
Nia Evans Director | Trustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $198,150 |
All other contributions, gifts, grants, and similar amounts not included above | $2,237,888 |
Noncash contributions included in lines 1a–1f | $15,734 |
Total Revenue from Contributions, Gifts, Grants & Similar | $2,436,038 |
Total Program Service Revenue | $429,323 |
Investment income | $26,687 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,938,858 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $369,404 |
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. | $221,141 |
Compensation of current officers, directors, key employees. | $59,708 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $547,882 |
Pension plan accruals and contributions | $14,176 |
Other employee benefits | $22,162 |
Payroll taxes | $58,561 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $196,906 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $333,767 |
Advertising and promotion | $5,715 |
Office expenses | $21,692 |
Information technology | $14,479 |
Royalties | $0 |
Occupancy | $19,413 |
Travel | $29,422 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $144,938 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $273 |
Insurance | $21,855 |
All other expenses | $0 |
Total functional expenses | $2,137,744 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,345,263 |
Savings and temporary cash investments | $1,642,018 |
Pledges and grants receivable | $999,646 |
Accounts receivable, net | $52,700 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $19,000 |
Inventories for sale or use | $1,727 |
Prepaid expenses and deferred charges | $52,789 |
Net Land, buildings, and equipment | $0 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $4,943,059 |
Intangible assets | $68,927 |
Other assets | $18,542 |
Total assets | $10,143,671 |
Accounts payable and accrued expenses | $469,026 |
Grants payable | $0 |
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 | $1,022,924 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $5,253,177 |
Other liabilities | $0 |
Total liabilities | $6,745,127 |
Net assets without donor restrictions | $2,132,901 |
Net assets with donor restrictions | $1,265,643 |
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 | $10,143,671 |
Over the last fiscal year, Boston Impact Initiative Fund has awarded $360,181 in support to 2 organizations.
Grant Recipient | Amount |
---|---|
TRANSFORMATIVE CULTURE PROJECT PURPOSE: INTEREST FORGIVENESS | $10,181 |
RUDOLPH STEINER FOUNDATION INC PURPOSE: GRANTMAKING | $350,000 |