Overview
What is Boston Impact Initiative Fund?
Boston Impact Initiative Fund is a nonprofit organization based in Jamaica Plain, Massachusetts, committed to empowering entrepreneurs of color and their communities. They manage two integrated capital investment funds, BII Fund I and BII Fund II, investing in debt, equity, and grants in local enterprises that serve communities of color or are owned by entrepreneurs of color. The fund provides technical assistance, business coaching, connections, and educational programming to support its portfolio investments, strengthening their impact in their communities and improving the effectiveness of entrepreneurial services. As of December 31, 2022, BII Fund I has made cumulative integrated capital investments of approximately 7.7 million, and BII Fund II, launched in May 2022, has invested 1.4 million in six enterprises. The organization's mission is to build a sustainable, inclusive, and equitable economy, transforming the impact investing field to make economic and racial justice integral to any community-centered investment strategy.
Official website here: www.bostonimpact.org
Is Boston Impact Initiative Fund legitimate?
Boston Impact Initiative Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Boston Impact Initiative Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $221,141
Professional Fundraising Fees: $0
Other Salaries and Wages: $547,882
For more financial information, click here
Official website here: www.bostonimpact.org
What is the mission statement of Boston Impact Initiative Fund?
The Boston Impact Initiative Fund's mission is geared towards creating a future where entrepreneurs of color and their communities have the financial, social, and political power to establish a sustainable, inclusive, and equitable economy for future generations. This is achieved by investing in social enterprises and community-controlled real estate, thereby increasing wealth and asset-building opportunities in communities of color in Massachusetts and New England.
The organization is also transforming the impact investing field by promoting economic and racial justice as integral components of any community-centered investment strategy. Through field-building and education, Boston Impact Initiative Fund aims to empower fellow investors, fund managers, and philanthropists nationwide, to strengthen the impact of their investments with a racial justice lens.
Their activities focus on investing integrated capital (equity, debt, and grants) in regenerative local enterprises, either owned and controlled by entrepreneurs of color or serving communities of color. This strategy aims to help close the racial wealth divide and restore the productive capacity of these communities. Additionally, Boston Impact Initiative Fund works with its portfolio companies to enhance their community impact and improve the effectiveness of entrepreneurial services in Eastern Massachusetts.
Official website here: www.bostonimpact.org
Who is the CEO of Boston Impact Initiative Fund?
Betty Francisco is the Ceo of Boston Impact Initiative Fund. The CEO's salary of Boston Impact Initiative Fund is $214,700 and their total compensation is $221,141.
Official website here: www.bostonimpact.org
What is the revenue of Boston Impact Initiative Fund?
Boston Impact Initiative Fund's revenue in 2022 was $2,938,858.
Official website here: www.bostonimpact.org
Who are the executives of Boston Impact Initiative Fund and what are their salaries?
The average compensation at Boston Impact Initiative Fund during 2022 was $128,170. There are 6 employees and 9 volunteers at Boston Impact Initiative Fund.
Here are 9 key members and their salaries (Boston Impact Initiative Fund's CEO's salary is $214,700 and their total compensation is $221,141):
- Compensation: $214,700
- Related: $0
- Other: $6,441
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.bostonimpact.org
Where can I find the form 990 for Boston Impact Initiative Fund?
Boston Impact Initiative Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bostonimpact.org
Learn more at the official website: www.bostonimpact.org
Mission Statement of Boston Impact Initiative Fund
The Boston Impact Initiative (BII) is committed to constructing a future where entrepreneurs of color and their communities possess the financial, social, and political power to establish a sustainable, inclusive, and equitable economy for future generations. To achieve this goal, BII invests integrated capital, which includes equity, debt, and grants, in social enterprises and community-controlled real estate. This investment strategy aims to boost wealth and asset-building opportunities for communities of color in Massachusetts and New England. Besides financial investments, BII is also involved in transforming the impact investing field by promoting economic and racial justice through field-building and education. By incorporating a racial justice lens into community-centered investment strategies, BII seeks to empower entrepreneurs of color and contribute to a more equitable economic landscape.
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Impact
October, 2024
The Boston Impact Initiative Fund significantly impacts communities of color in Massachusetts and New England by facilitating integrated capital investments that empower local entrepreneurs. By focusing on debt, equity, and grants, the Fund targets enterprises owned or controlled by entrepreneurs of color, aiming to create sustainable and equitable economic opportunities. Through its first fund, which has made approximately $7.7 million in investments across 50 enterprises, the initiative not only provides financial support but also technical assistance, business coaching, and educational programming to strengthen the effectiveness of these enterprises within their communities.
The Fund's second initiative expands this impact further, with a $20 million focus on early-stage social enterprises and community-controlled real estate. These efforts are designed to close the racial wealth divide and restore the productive capacity of marginalized communities, thereby contributing to a more equitable economy for generations to come. Additionally, Boston Impact Initiative Fund invests in building the impact investing field with a focus on racial justice, training fellow investors and fund managers to adopt community-centered strategies. This holistic approach not only supports individual businesses but also fosters systemic change across the region.
This information is meant to be a general summary of Boston Impact Initiative Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $26,687
- Program Service Revenue: $429,323
- Gross Receipts: $2,938,858
Assets and Liabilities:
- Total Assets: $10,143,671
- Total Liabilities: $6,745,127
- Net Assets: $3,398,544
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAMMATIC INVESTMENT
Revenue
$214,757
SERVICE FEES
Revenue
$214,566
Organization Details
Founding Year
2017
Phone
(617) 702-9132Principal Officer
Betty Francisco
Main Address
PO BOX 300443, JAMAICA PLAIN, MA, 02130
Website
www.bostonimpact.orgNTEE Category
Code: S11 - Community improvement
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