2024-11-14T08:30:49-06:00 2023-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS ROAD SUITE 1500 RALEIGH NC 27609 990 2023-01-01 521591398 CALVERT IMPACT CAPITAL INC CALV 8002480337 7315 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 DEREK STROCHER CFO 8002480337 2024-11-13 1 0 J CALVIN MARKS P01226973 9197196400 2023 2024-10-15 13:58:12Z JENNIFER PRYCE 7315 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 93624027 0 X WWW.CALVERTIMPACTCAPITAL.ORG X 1988 MD 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. 13 13 46 13 194987 192557 4951019 684624 21995540 25807295 3182326 6934330 5371 0 30134256 33426249 559589 0 0 0 6829274 7038169 0 0 338732 23730934 29788724 31119797 36826893 -985541 -3400644 659345445 689904043 621620549 648209948 37724896 41694095 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. 0 0 27249648 25807295 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. 27249648 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 2039 0 1 46 1 1 1 1 IN 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AL AR CA FL GA HI IL KS KY MA MD MI MN MS NH NJ NM NY OR PA RI SC TN UT VA WI WV X X DEREK STROCHER 8002480337 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 JENNIFER PRYCE PRESIDENT & CEO 40.00 X 548696 0 56833 DEREK STROCHER CHIEF FINANCIAL OFFICER 40.00 X 445240 0 52232 JUSTIN CONWAY SECRETARY, PRESIDENT OF CIP 40.00 X 332181 0 26899 CATHERINE GODSCHALK VP, LENDING 40.00 X 314771 0 55230 ELIZEBETH BAFFORD VP, SYNDICATIONS & STRATEGY 40.00 X 312689 0 44521 LAURI MICHEL VP RISK MANAGEMENT 40.00 X 296292 0 34742 EMMELINE LIU GENERAL COUNSEL 40.00 X 287055 0 39659 LUCAS PAPPAS DIRECTOR OF INVESTMENTS 40.00 X 214958 0 19322 DR JENNIFER ISERN CHAIR 1.00 X 0 0 0 ARON BETRU DIRECTOR 1.00 X 0 0 0 RUMA BOSE DIRECTOR 1.00 X 0 0 0 MEESHA BROWN DIRECTOR 1.00 X 0 0 0 DEBORAH BURAND DIRECTOR 1.00 X 0 0 0 DEENA BURJORJEE DIRECTOR 1.00 X 0 0 0 MARIO ESPINOSA DIRECTOR/RISK COMMITTEE CHAIR 1.00 X 0 0 0 PHIL KIRSHMAN DIRECTOR/GOVERNANCE & PENSION COMMITTEE CHAIR 1.00 X 0 0 0 LYNN NGUYEN DIRECTOR 1.00 X 0 0 0 SCOTT PAGE DIRECTOR 1.00 X 0 0 0 DECKER ROLPH DIRECTOR/COMPENSATION COMMITTEE CHAIR 1.00 X 0 0 0 KATHY STEARNS DIRECTOR/CREDIT COMMITTEE CHAIR 1.00 X 0 0 0 FERN THOMAS DIRECTOR/AUDIT & FINANCE COMMITTEE CHAIR 1.00 X 0 0 0 2751882 0 329438 27 0 1 0 WIPFLI LLP PO BOX 3160 MILWAUKEE WI 53201 IT SERVICES 391175 JOHNSON LAMBERT LLP PO BOX 60096 CHARLOTTE NC 28260 ACCOUNTING SERVICES 243782 WARNER NORCROSS & JUDD LLP 150 OTTAWA AVENUE NW SUITE 1500 GRAND RAPIDS MN 49503 LEGAL SERVICES 194407 MORGAN LEWIS & BOCKIUS LLP PO BOX 8500 S-6050 PHILADELPHIA PA 19178 LEGAL SERVICES 189087 GUIDEHOUSE INC PO BOX 7247-6037 PHILADELPHIA PA 19170 CONSULTING 132220 6 684624 684624 CALVERT COMMUNITY INVESTMENTS 900099 25807295 25807295 25807295 5344991 194987 5150004 61787117 60197778 1589339 1589339 1589339 33426249 25807295 194987 6739343 1462081 1110639 293251 58191 4241635 3197686 876845 167104 360158 293779 50627 15752 473230 386010 66522 20698 501065 408715 70435 21915 1055252 242707 810526 2019 -1410 -1410 887721 471239 409172 7310 50705 19275 30899 531 171503 104900 60926 5677 321853 260811 56018 5024 328511 279233 43118 6160 245957 148682 85734 11541 73246 43366 28017 1863 14637148 14117094 520054 7000000 1350288 5649712 372006 316204 48827 6975 71248 71248 PROVISION FOR LOAN LOSS 4201794 4201794 GUARANTEE EXPENSE 184604 177701 6903 DUES & SUBSCRIPTIONS 142680 116252 18456 7972 REGISTRATION FEES 30664 593 30071 15242 4090 11152 36826893 27249648 9238513 338732 107012017 94982024 2065384 41657451 4894648 10303771 2149405 7033145 1873703 2403604 2959409 2016828 1314587 942581 34291585 16204183 500960349 511138309 4783767 5238975 659345445 689904043 5148724 3671295 3000000 7945000 608982619 632792266 4489206 3801387 621620549 648209948 X 37537325 41506524 187571 187571 37724896 41694095 659345445 689904043 X -3400644 5798104 1571739 X 0 1 X 1 0 X 1017572 2294016 936047 951019 2256363 7455017 1017572 2294016 936047 951019 2256363 7455017 1002495 6452522 2190101 761704 304062 2103049 5150004 10508920 32776 93037 230480 356293 152759 63381 5371 221511 18541741 108131890 0.34800 0.34990 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FEE INCOME - SUBDEBT RELINQUISHED - SUBLEASE INCOME - 2019 AMOUNT: $ 152,759. 2020 AMOUNT: $ 63,381. 2022 AMOUNT: $ 5,371. RETURNED GRANTS - RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1076515 255738 820777 253723 253723 0 1465263 1465263 0 163908 42104 121804 942581 NOTES RECEIVABLE 398483359 F MISSION PLUS PLACEMENTS 112495673 F INVESTMENT IN LIMITED PARTNERSHIPS 159277 F 511138309 DERIVATIVE CONTRACT 85247 DUE TO RELATED PARTY 221235 DEFERRED RENT 134177 RIGHT OF USE LIABILITIES 3360728 3801387 X PART X, LINE 2: MANAGEMENT HAS CONCLUDED THAT CALVERT IMPACT CAPITAL, INC. HAS MAINTAINED ITS EXEMPT STATUS AND THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023. CENTRAL AMERICA & CARIBBEAN INVESTMENTS EQUITY 17259000 CENTRAL AMERICA & CARIBBEAN INVESTMENTS LOANS 15064000 EUROPE INVESTMENTS EQUITY 52038000 SOUTH ASIA INVESTMENTS EQUITY 4709000 SOUTH ASIA INVESTMENTS LOANS 37777000 SUB-SAHARAN AFRICA INVESTMENTS EQUITY 48000 SUB-SAHARAN AFRICA INVESTMENTS LOANS 2452000 0 0 0 0 0 0 129347000 0 129347000 1 0 1 1 1 0 X X X 0 0 0 0 0 0 0 0 0 JENNIFER PRYCE PRESIDENT & CEO 427280 0 121056 0 360 0 26400 0 30433 0 605529 0 0 0 DEREK STROCHER CHIEF FINANCIAL OFFICER 364880 0 80000 0 360 0 26400 0 25832 0 497472 0 0 0 JUSTIN CONWAY SECRETARY, PRESIDENT OF CIP 274192 0 57629 0 360 0 25936 0 963 0 359080 0 0 0 CATHERINE GODSCHALK VP, LENDING 264411 0 50000 0 360 0 24108 0 31122 0 370001 0 0 0 ELIZEBETH BAFFORD VP, SYNDICATIONS & STRATEGY 262329 0 50000 0 360 0 18302 0 26219 0 357210 0 0 0 LAURI MICHEL VP RISK MANAGEMENT 246292 0 50000 0 0 0 18893 0 15849 0 331034 0 0 0 EMMELINE LIU GENERAL COUNSEL 236695 0 50000 0 360 0 20029 0 19630 0 326714 0 0 0 LUCAS PAPPAS DIRECTOR OF INVESTMENTS 184598 0 30000 0 360 0 12309 0 7013 0 234280 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO MANAGEMENT MEMBERS FOR REVIEW PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICTS OF INTEREST ARE MONITORED BY A COMPLIANCE OFFICER AND ASSOCIATE WHO OVERSEE THE CONFLICT OF INTEREST POLICY. THE MEMBERS OF THE GOVERNING BODY ANNUALLY REPORT ANY CONFLICTS TO THE OFFICER WHO WILL NOTIFY THE AUDIT COMMITTEE TO ENFORCE THE POLICY. IN THE EVENT THAT A CONFLICT ARISES, THE MEMBER OF THE GOVERNING BODY WILL RECUSE THEMSELVES FROM VOTING ON ANY MATTER THAT APPLIES TO THE CONFLICT OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 TO SET THE COMPENSATION OF TOP MANAGEMENT, WE HAVE RELIED ON COMPENSATION SURVEYS THAT HAVE BEEN PERFORMED BY SIMILAR ORGANIZATIONS. ALSO, WE REVIEW THE 990S AS POSTED BY GUIDESTAR TO REVIEW WHAT OTHERS ARE EARNING IN SIMILAR POSITIONS. THERE IS NO EXACT COMPARABLE COMPANY FOR CALVERT IMPACT CAPITAL SO WE CONSIDER WHAT OTHERS ARE MAKING AND ADJUST ACCORDINGLY. AS FOR THE PRESIDENT & CEO, THIS COMPENSATION IS SET BY THE EXECUTIVE COMMITTEE AND IT IS INFORMED BY THE SAME INFORMATION COLLECTED ABOVE. PRESIDENT & CEO COMPENSATION WAS LAST REVIEWED IN DECEMBER 2023. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION'S FINANCIAL STATEMENTS ARE AVAILABLE ON THE FOUNDATION'S WEBSITE. THE FOUNDATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: GRANTS RELEASED FROM RESTRICTION 1,571,739. FPIF FEEDER FUND GP LLC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 473598901 INVESTMENT MANAGEMENT MD 0 21775 CALVERT IMPACT CAPITAL INC THE FUNDED GUARANTEE GP LLC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 814213851 INVESTMENT MANAGEMENT MD 0 151256 CALVERT IMPACT CAPITAL INC EQUITY FOR IMPACT GP LLC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA ME 20814 814226127 INVESTMENT MANAGEMENT MD 0 2491 CALVERT IMPACT CAPITAL INC CALVERT IMPACT SMALL BUSINESS LLC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 920703071 INVESTMENT MANAGEMENT DE 2024528 43228070 CALVERT IMPACT INC CALVERT IMPACT INC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 863134806 INVESTMENT MANAGEMENT DE 501(C)(3) LINE 7 N/A 0 CALVERT IMPACT CLIMATE INC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 870984253 INVESTMENT MANAGEMENT DE 501(C)(3) LINE 10 N/A 0 EQUITY FOR IMPACT LP 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 814385108 INVESTMENT MANAGEMENT MD EQUITY FOR IMPACT GP LLC 3950 1 1 FPIF FEEDER FACILITY LP 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 474690149 INVESTMENT MANAGEMENT MD FPIF FEEDER FUND GP LLC -204 4523963 1 1 0.01040 IMPACTASSETS FUNDED GUARANTEE LP 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 814369255 INVESTMENT MANAGEMENT MD THE FUNDED GUARANTEE GP LLC 196 150443 1 1 0.01000 COMMUNITY INVESTMENT PARTNERS INC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 272461977 PROMOTION OF COMMUNITY INVESTMENT MD CALVERT IMPACT CAPITAL INC C 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 0 CALVERT IMPACT INC B 7000000 FMV IMPACTASSETS FUNDED GUARANTEE LP M 454545 FMV EQUITY FOR IMPACT LP M 76042 FMV