Totals
- Total revenue
- $33,426,249
- Total expenses
- $36,826,893
- Contributions and grants received
- $684,624
- Grants paid
- $0
- Program service revenue
- $25,807,295
- Investment income
- $6,934,330
- Other revenue
- $0
- Total assets, end of year
- $689,904,043
- Total liabilities, end of year
- $648,209,948
- Net assets or fund balances, end of year
- $41,694,095
- Program services expenses (Part IX)
- $27,249,648
- Management and general expenses
- $9,238,513
- Fundraising expenses
- $338,732
- Program service expenses (Part III)
- $27,249,648
Program services were 74.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$684,624
-
2a · Program service revenue: CALVERT COMMUNITY INVESTMENTS
total $25,807,295 · related or exempt $25,807,295
-
3 · Investment income
total $5,344,991 · unrelated business $194,987 · excluded $5,150,004
-
7a · Gross sales of assets other than inventory
securities $61,787,117
-
7b · Less cost or other basis and sales expenses
securities $60,197,778
-
7c · Gain or loss
securities $1,589,339
-
7d · Net gain or loss
total $1,589,339 · excluded $1,589,339
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,462,081 · program services $1,110,639 · management and general $293,251 · fundraising $58,191
-
7 · Other salaries and wages
total $4,241,635 · program services $3,197,686 · management and general $876,845 · fundraising $167,104
-
8 · Pension plan contributions
total $360,158 · program services $293,779 · management and general $50,627 · fundraising $15,752
-
9 · Other employee benefits
total $473,230 · program services $386,010 · management and general $66,522 · fundraising $20,698
-
10 · Payroll taxes
total $501,065 · program services $408,715 · management and general $70,435 · fundraising $21,915
-
11b · Fees: legal
total $1,055,252 · program services $242,707 · management and general $810,526 · fundraising $2,019
-
11f · Fees: investment management
total -$1,410 · program services -$1,410
-
11g · Fees: other
total $887,721 · program services $471,239 · management and general $409,172 · fundraising $7,310
-
12 · Advertising and promotion
total $50,705 · program services $19,275 · management and general $30,899 · fundraising $531
-
13 · Office expenses
total $171,503 · program services $104,900 · management and general $60,926 · fundraising $5,677
-
14 · Information technology
total $321,853 · program services $260,811 · management and general $56,018 · fundraising $5,024
-
16 · Occupancy
total $328,511 · program services $279,233 · management and general $43,118 · fundraising $6,160
-
17 · Travel
total $245,957 · program services $148,682 · management and general $85,734 · fundraising $11,541
-
19 · Conferences, conventions and meetings
total $73,246 · program services $43,366 · management and general $28,017 · fundraising $1,863
-
20 · Interest
total $14,637,148 · program services $14,117,094 · management and general $520,054
-
21 · Payments to affiliates
total $7,000,000 · program services $1,350,288 · management and general $5,649,712
-
22 · Depreciation, depletion and amortization
total $372,006 · program services $316,204 · management and general $48,827 · fundraising $6,975
-
23 · Insurance
total $71,248 · management and general $71,248
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $4,201,794 · program services $4,201,794
-
24b · Other expenses: GUARANTEE EXPENSE
total $184,604 · program services $177,701 · management and general $6,903
-
24c · Other expenses: DUES & SUBSCRIPTIONS
total $142,680 · program services $116,252 · management and general $18,456 · fundraising $7,972
-
24d · Other expenses: REGISTRATION FEES
total $30,664 · program services $593 · management and general $30,071
-
24e · All other expenses
total $15,242 · program services $4,090 · management and general $11,152
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $107,012,017 · end of year $94,982,024
-
2 · Savings and temporary cash investments
beginning of year $2,065,384 · end of year $41,657,451
-
3 · Pledges and grants receivable
beginning of year $4,894,648 · end of year $10,303,771
-
4 · Accounts receivable
beginning of year $2,149,405 · end of year $7,033,145
-
9 · Prepaid expenses and deferred charges
beginning of year $1,873,703 · end of year $2,403,604
-
10a · Land, buildings and equipment: cost or other basis
$2,959,409
-
10b · Land, buildings and equipment: accumulated depreciation
$2,016,828
-
10c · Land, buildings and equipment, net
beginning of year $1,314,587 · end of year $942,581
-
11 · Investments: publicly traded securities
beginning of year $34,291,585 · end of year $16,204,183
-
13 · Investments: program-related
beginning of year $500,960,349 · end of year $511,138,309
-
15 · Other assets
beginning of year $4,783,767 · end of year $5,238,975
-
17 · Accounts payable and accrued expenses
beginning of year $5,148,724 · end of year $3,671,295
-
18 · Grants payable
beginning of year $3,000,000 · end of year $7,945,000
-
24 · Unsecured notes and loans payable
beginning of year $608,982,619 · end of year $632,792,266
-
25 · Other liabilities
beginning of year $4,489,206 · end of year $3,801,387
-
27 · Net assets without donor restrictions
beginning of year $37,537,325 · end of year $41,506,524
-
28 · Net assets with donor restrictions
beginning of year $187,571 · end of year $187,571
Mission and programs · 2023
Mission
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.
-
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.
Expenses $27,249,648 · Revenue $25,807,295
As filed on the 2023 return.
Listed in Part VII
-
Jennifer PryceJENNIFER PRYCE
PRESIDENT & CEO
- Total calculated
- $605,529
- From this org
- $548,696
- From related orgs
- $0
- Other
- $56,833
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $427,280
- Bonus
- $121,056
- Other
- $360
- Deferred
- $26,400
- Nontaxable benefits
- $30,433
- Filer's total
- $605,529
-
Derek StrocherDEREK STROCHER
CHIEF FINANCIAL OFFICER
- Total calculated
- $497,472
- From this org
- $445,240
- From related orgs
- $0
- Other
- $52,232
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $364,880
- Bonus
- $80,000
- Other
- $360
- Deferred
- $26,400
- Nontaxable benefits
- $25,832
- Filer's total
- $497,472
-
Justin ConwayJUSTIN CONWAY
SECRETARY, PRESIDENT OF CIP
- Total calculated
- $359,080
- From this org
- $332,181
- From related orgs
- $0
- Other
- $26,899
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $274,192
- Bonus
- $57,629
- Other
- $360
- Deferred
- $25,936
- Nontaxable benefits
- $963
- Filer's total
- $359,080
-
Catherine GodschalkCATHERINE GODSCHALK
VP, LENDING
- Total calculated
- $370,001
- From this org
- $314,771
- From related orgs
- $0
- Other
- $55,230
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $264,411
- Bonus
- $50,000
- Other
- $360
- Deferred
- $24,108
- Nontaxable benefits
- $31,122
- Filer's total
- $370,001
-
Elizebeth BaffordELIZEBETH BAFFORD
VP, SYNDICATIONS & STRATEGY
- Total calculated
- $357,210
- From this org
- $312,689
- From related orgs
- $0
- Other
- $44,521
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $262,329
- Bonus
- $50,000
- Other
- $360
- Deferred
- $18,302
- Nontaxable benefits
- $26,219
- Filer's total
- $357,210
-
Lauri MichelLAURI MICHEL
VP RISK MANAGEMENT
- Total calculated
- $331,034
- From this org
- $296,292
- From related orgs
- $0
- Other
- $34,742
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $246,292
- Bonus
- $50,000
- Other
- $0
- Deferred
- $18,893
- Nontaxable benefits
- $15,849
- Filer's total
- $331,034
-
Emmeline LiuEMMELINE LIU
GENERAL COUNSEL
- Total calculated
- $326,714
- From this org
- $287,055
- From related orgs
- $0
- Other
- $39,659
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $236,695
- Bonus
- $50,000
- Other
- $360
- Deferred
- $20,029
- Nontaxable benefits
- $19,630
- Filer's total
- $326,714
-
Lucas PappasLUCAS PAPPAS
DIRECTOR OF INVESTMENTS
- Total calculated
- $234,280
- From this org
- $214,958
- From related orgs
- $0
- Other
- $19,322
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $184,598
- Bonus
- $30,000
- Other
- $360
- Deferred
- $12,309
- Nontaxable benefits
- $7,013
- Filer's total
- $234,280
-
Dr Jennifer IsernDR JENNIFER ISERN
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Aron BetruARON BETRU
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ruma BoseRUMA BOSE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Meesha BrownMEESHA BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Deborah BurandDEBORAH BURAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Deena BurjorjeeDEENA BURJORJEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mario EspinosaMARIO ESPINOSA
DIRECTOR/RISK COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Phil KirshmanPHIL KIRSHMAN
DIRECTOR/GOVERNANCE & PENSION COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Lynn NguyenLYNN NGUYEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Scott PageSCOTT PAGE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Decker RolphDECKER ROLPH
DIRECTOR/COMPENSATION COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Kathy StearnsKATHY STEARNS
DIRECTOR/CREDIT COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Fern ThomasFERN THOMAS
DIRECTOR/AUDIT & FINANCE COMMITTEE CHAIR
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · INVESTMENT MANAGEMENT · DE
-
501(C)(3) · INVESTMENT MANAGEMENT · DE
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
FPIF FEEDER FUND GP LLC
INVESTMENT MANAGEMENT · MD · income $0 · assets $21,775
Directly controlled by CALVERT IMPACT CAPITAL INC
-
THE FUNDED GUARANTEE GP LLC
INVESTMENT MANAGEMENT · MD · income $0 · assets $151,256
Directly controlled by CALVERT IMPACT CAPITAL INC
-
EQUITY FOR IMPACT GP LLC
INVESTMENT MANAGEMENT · MD · income $0 · assets $2,491
Directly controlled by CALVERT IMPACT CAPITAL INC
-
CALVERT IMPACT SMALL BUSINESS LLC
INVESTMENT MANAGEMENT · DE · income $2,024,528 · assets $43,228,070
Directly controlled by CALVERT IMPACT INC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
EQUITY FOR IMPACT LP
INVESTMENT MANAGEMENT · MD · share of assets $3,950 · general or managing partner
Directly controlled by EQUITY FOR IMPACT GP LLC
-
FPIF FEEDER FACILITY LP
INVESTMENT MANAGEMENT · MD · 1.04% owned · share of income -$204 · share of assets $4,523,963 · general or managing partner
Directly controlled by FPIF FEEDER FUND GP LLC
-
IMPACTASSETS FUNDED GUARANTEE LP
INVESTMENT MANAGEMENT · MD · 1% owned · share of income $196 · share of assets $150,443 · general or managing partner
Directly controlled by THE FUNDED GUARANTEE GP LLC
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
COMMUNITY INVESTMENT PARTNERS INC
C · PROMOTION OF COMMUNITY INVESTMENT · MD · 100% owned · controlled entity
Directly controlled by CALVERT IMPACT CAPITAL INC
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202423199349303102
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
The source document this was parsed from is served over the API, which is where bulk and document access live.