2023-11-08T12:04:47-06:00 2022-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS ROAD SUITE 1500 RALEIGH NC 27609 990 2022-01-01 521591398 CALVERT IMPACT CAPITAL INC CALV 8002480337 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 DEREK STROCHER CFO 8002480337 2023-11-08 1 DEREK STROCHER XXX-XX-XXXX 0 J CALVIN MARKS P01226973 9197196400 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z JENNIFER PRYCE 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 64655756 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. 16 16 44 16 190181 67587 936047 4951019 20737786 21995540 1560667 3182326 0 5371 23234500 30134256 325000 559589 0 0 7183364 6829274 0 0 359453 17955958 23730934 25464322 31119797 -2229822 -985541 679643317 659345445 644185686 621620549 35457631 37724896 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 28421082 3559589 21995540 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. 28421082 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 2046 0 1 44 1 1 1 1 IN 0 0 0 0 0 0 0 0 0 0 X 16 16 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 505167 0 33942 DEREK STROCHER CHIEF FINANCIAL OFFICER 40.00 X 417578 0 33145 JUSTIN CONWAY SECRETARY, PRESIDENT OF CIP 40.00 X 311899 0 24313 CATHERINE GODSCHALK VP, LENDING 40.00 X 294495 0 21202 ELIZEBETH BAFFORD VP, SYNDICATIONS & STRATEGY 40.00 X 279013 0 23979 LAURI MICHEL VP RISK MANAGEMENT 40.00 X 272479 0 27681 EMMELINE LIU GENERAL COUNSEL 40.00 X 267399 0 31894 LUCAS PAPPAS DIRECTOR OF INVESTMENTS 40.00 X 199291 0 12159 FREDERICK HARVEY CHAIRMAN 1.00 X 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 (FROM 9/2022) 1.00 X 0 0 0 MARIO ESPINOSA DIRECTOR & RISK COMMITTEE CHAIR 1.00 X 0 0 0 DR JENNIFER ISERN DIRECTOR 1.00 X 0 0 0 PHIL KIRSHMAN DIRECTOR & GOVERNANCE COMMITTEE CHAIR 1.00 X 0 0 0 LYNN NGUYEN DIRECTOR (FROM 1/2022) 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 JOHN STREUR DIRECTOR & AUDIT AND FINANCE COMMITTEE CHAIR 1.00 X 0 0 0 KATHY STEARNS DIRECTOR & CREDIT COMMITTEE CHAIR 1.00 X 0 0 0 FERN THOMAS DIRECTOR 1.00 X 0 0 0 JAIME YORDAN DIRECTOR & PENSION COMMITTEE CHAIR 1.00 X 0 0 0 2547321 0 208315 25 0 1 0 WIPFLI LLP 12359 SUNRISE VALLEY DR SUITE 130 RESTON VA 20191 IT SERVICES 460213 WARNER NORCROSS & JUDD LLP 150 OTTAWA AVE NW SUITE 1500 GRAND RAPIDS MI 49503 LEGAL SERVICES 317967 JOHNSON LAMBERT LLP PO BOX 60096 CHARLOTTE NC 28260 AUDIT SERVICES 155335 MORGAN LEWIS & BOCKIUS LLP PO BOX 8500 S-6050 PHILADELPHIA PA 19178 LEGAL SERVICES 151012 ARTEMIS WARD LLC 1121 5TH ST NW SUITE A WASHINGTON DC 20001 BRAND DEVELOPMENT 130000 8 4951019 4951019 CALVERT COMMUNITY INVESTMENTS 900099 21995540 21995540 21995540 2293230 190181 2103049 35410596 34521500 889096 889096 889096 SUBLEASE INCOME 900099 5371 5371 5371 30134256 21995540 190181 2997516 559589 559589 1326044 1072203 193176 60665 4380745 3542150 638182 200413 351495 284210 51205 16080 465922 376733 67875 21314 305068 246670 44442 13956 607700 151607 454579 1514 112410 112410 760914 683611 69898 7405 9238 9238 131265 94265 34824 2176 399838 348405 44081 7352 335745 289580 39870 6295 160758 115515 37652 7591 26058 23313 2370 375 13025314 12619686 405628 3000000 3000000 456228 393497 54177 8554 96079 332 95739 8 PROVISION FOR LOAN LOSS 4224366 4224366 DUES & SUBSCRIPTIONS 160654 139384 15515 5755 GUARANTEE EXPENSE 133029 128634 4395 TAXES & LICENSES 59009 4374 54635 32329 1310 31019 31119797 28421082 2339262 359453 137015395 107012017 18340627 2065384 98241 4894648 5252714 2149405 2298896 1873703 2959409 1644822 1618007 1314587 20336165 34291585 492443928 500960349 2239344 4783767 679643317 659345445 2071480 5148724 3000000 641214179 608982619 900027 4489206 644185686 621620549 X 35270060 37537325 187571 187571 35457631 37724896 679643317 659345445 -985541 3252806 0 X 0 1 X 1 0 X 1100440 1017572 2294016 936047 951019 6299094 1100440 1017572 2294016 936047 951019 6299094 1557864 4741230 1414484 2190101 761704 304062 2103049 6773400 32776 93037 125813 132024 152759 63381 5371 353535 13551842 99600218 0.34990 0.36090 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FEE INCOME - SUBDEBT RELINQUISHED - SUBLEASE INCOME - 2018 AMOUNT: $ 132,024. 2019 AMOUNT: $ 152,759. 2020 AMOUNT: $ 63,381. 2022 AMOUNT: $ 5,371. RETURNED GRANTS - RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1076515 50984 1025531 253723 253723 0 1465263 1329187 136076 163908 10928 152980 1314587 NOTES RECEIVABLE 383839193 F MISSION PLUS PLACEMENTS 103406193 F LOAN FUND 13555040 C INVESTMENT IN LIMITED PARTNERSHIPS 159923 F 500960349 DERIVATIVE CONTRACT 298474 DUE TO RELATED PARTY 216235 DEFERRED RENT 295545 RIGHT OF USE LIABILITIES 3678952 4489206 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, 2022. CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS EQUITY 16804000 CENTRAL AMERICA & CARIBBEAN 0 0 INVESTMENTS LOANS 5916000 EAST ASIA & PACIFIC 0 0 INVESTMENTS LOANS 9920000 EUROPE 0 0 INVESTMENTS EQUITY 61960000 NORTH AMERICA 0 0 INVESTMENTS LOANS 5000000 SOUTH ASIA 0 0 INVESTMENTS LOANS 39794000 SUB-SAHARAN AFRICA 0 0 INVESTMENTS LOANS 48000 SUB-SAHARAN AFRICA 0 0 INVESTMENTS EQUITY 4952000 SOUTH ASIA 0 0 INVESTMENTS EQUITY 4769000 0 0 0 0 0 0 144394000 4769000 149163000 1 0 1 1 1 0 PART III ACCOUNTING METHOD: X X X 0 0 0 0 0 0 0 0 0 JENNIFER PRYCE PRESIDENT & CEO 395167 0 110000 0 0 0 24400 0 9542 0 539109 0 0 0 DEREK STROCHER CHIEF FINANCIAL OFFICER 337578 0 80000 0 0 0 24400 0 8745 0 450723 0 0 0 JUSTIN CONWAY SECRETARY, PRESIDENT OF CIP 261899 0 50000 0 0 0 24313 0 0 0 336212 0 0 0 CATHERINE GODSCHALK VP, LENDING 244495 0 50000 0 0 0 10960 0 10242 0 315697 0 0 0 ELIZEBETH BAFFORD VP, SYNDICATIONS & STRATEGY 229013 0 50000 0 0 0 16600 0 7379 0 302992 0 0 0 LAURI MICHEL VP RISK MANAGEMENT 222479 0 50000 0 0 0 17011 0 10670 0 300160 0 0 0 EMMELINE LIU GENERAL COUNSEL 217399 0 50000 0 0 0 18439 0 13455 0 299293 0 0 0 LUCAS PAPPAS DIRECTOR OF INVESTMENTS 171291 0 28000 0 0 0 11157 0 1002 0 211450 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 2022. 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. FPIF FEEDER FUND GP LLC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 473598901 INVESTMENT MANAGEMENT MD 0 22498 CALVERT IMPACT CAPITAL INC THE FUNDED GUARANTEE GP LLC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 814213851 INVESTMENT MANAGEMENT MD 0 152601 CALVERT IMPACT CAPITAL INC EQUITY FOR IMPACT GP LLC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA ME 20814 814226127 INVESTMENT MANAGEMENT MD 0 5145 CALVERT IMPACT CAPITAL INC CALVERT IMPACT SMALL BUSINESS LLC 7550 WISCONSIN AVENUE 8TH FLOOR BETHESDA MD 20814 920703071 INVESTMENT MANAGEMENT DE 0 0 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 -96 4524167 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 1708 150922 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 36174 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 3000000 FMV IMPACTASSETS FUNDED GUARANTEE LP M 454545 FMV EQUITY FOR IMPACT LP M 76042 FMV