2020-05-14T07:30:09-05:00 2019-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2018-07-01 830808658 INCLUSIVE PROSPERITY CAPITAL INC INCL 2034335060 845 BROOK STREET ROCKY HILL CT 06067 KERRY O'NEILL CEO 8602572884 2020-05-13 1 RONALD W NOSSEK CPA P00009715 8605614000 2020-05-13 64.251.63.131 2020-05-13 11:26:45 ED P 212D4AA7D86991E97AAA9C7923B382683810470F 212D4AA7D86991E97AAA9C7923B382683810470F 2018 2021-01-29 14:40:06Z KERRY O'NEILL 845 BROOK STREET ROCKY HILL CT 06067 8672454 0 X WWW.INCLUSIVEPROSPERITYCAPITAL.ORG X 2018 CT IPC'S PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENT AND TO PROTECT, PROMOTE AND PRESERVE THE NATURAL ENVIRONMENT BY: 1)DEVELOPING AND SUPPORTING PROGRAMS TO FINANCE AND STIMULATE DEMAND FOR CLEAN ENERGY INVESTMENT IN RESIDENTIAL, MUNICIPAL, SMALL BUSINESS AND LARGER COMMERCIAL PROJECTS; 2) PROMOTING THE USE, AVAILABILITY, EFFICACY, AFFORDABILITY AND QUALITY OF CLEAN ENERGY, ENERGY EFFICIENCY, SUSTAINABLE, HEALTHY AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE AND THE SOCIAL AND ECONOMIC BENEFITS DERIVED THEREFROM; 3) EDUCATING THE PUBLIC AND ENVIRONMENTAL, SOCIAL, HEALTH AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE; AND 4) PROMOTING THE REDUCTION OF GREENHOUSE GAS EMISSIONS, PROMOTING AND/OR MITIGATING THE ADVERSE EFFECTS OF CLIMATE CHANGE, AND ACHIEVING OTHER POSITIVE ENVIRONMENTAL IMPACTS, INCLUDING THOSE LEADING TO BETTER HEALTH OUTCOMES. 5 4 7 4 0 0 0 7375000 0 1278468 0 2616 0 16370 0 8672454 0 0 0 0 0 894863 0 0 89562 0 604781 0 1499644 0 7172810 0 7333848 0 161038 0 7172810 X IPC'S PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENT AND TO PROTECT, PROMOTE AND PRESERVE THE NATURAL ENVIRONMENT BY: 1)DEVELOPING AND SUPPORTING PROGRAMS TO FINANCE AND STIMULATE DEMAND FOR CLEAN ENERGY INVESTMENT IN RESIDENTIAL, MUNICIPAL, SMALL BUSINESS AND LARGER COMMERCIAL PROJECTS; 2) PROMOTING THE USE, AVAILABILITY, EFFICACY, AFFORDABILITY AND QUALITY OF CLEAN ENERGY, ENERGY EFFICIENCY, SUSTAINABLE, HEALTHY AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE AND THE SOCIAL AND ECONOMIC BENEFITS DERIVED THEREFROM; 3) EDUCATING THE PUBLIC AND ENVIRONMENTAL, SOCIAL, HEALTH AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE; AND 4) PROMOTING THE REDUCTION OF GREENHOUSE GAS EMISSIONS, PROMOTING AND/OR MITIGATING THE ADVERSE EFFECTS OF CLIMATE CHANGE, AND ACHIEVING OTHER POSITIVE ENVIRONMENTAL IMPACTS, INCLUDING THOSE LEADING TO BETTER HEALTH OUTCOMES. 1 0 462318 0 446546 LOW TO MODERATE INCOME SINGLE FAMILY LOAN PROGRAM - UNDER THE PROGRAM, IPC STAFF SERVICE LOANS MADE BY THIRD PARTY LENDERS AND ORIGINATES, FUNDS AND SERVICES ITS OWN PORTFOLIO OF LOANS MADE TO ORGANIZATIONS THAT DEVELOP ENERGY PROJECTS DESIGNED TO REDUCE THE ENERGY BURDEN OF LOW AND MODERATE INCOME ("LMI") COMMUNITIES. 234884 0 364281 SMART-E LOAN PROGRAM - THE SMART-E LOAN PROGRAM PROVIDES A LOW COST,LONG TERM LOAN OPTION SINGLE FAMILY HOMEOWNERS FOR ENERGY UPGRADES THROUGH A NETWORK OF LOCAL LENDERS THAT ARE GIVEN ACCESS TO A CREDIT ENHANCEMENT (IF REQUIRED) IN EXCHANGE FOR OFFERING THE PRODUCT. THE PROGRAM USES ESTABLISHED PRE-APPROVED CONTRACTORS TO INSTALL THESE ENERGY UPGRADES TO REDUCE THE BUILDING OWNER'S ENERGY BURDEN. IPC MAY EITHER ADMINISTER THIS PROGRAM ON BEHALF OF A PROGRAM SPONSOR OR PROVIDE CERTAIN SERVICES TO A PROGRAM SPONSOR, INCLUDING THE STANDARDIZED PROGRAMMATIC APPROACH, PROTOCOLS, MARKETING AND TECHNOLOGY. CREDIT ENHANCEMENTS TYPICALLY COMPRISE INTEREST RATE BUYDOWNS AND LOAN LOSS RESERVES MAINTAINED BY THE SPONSOR TO SUPPORT LENDER PROGRAM LOANS. IN FISCAL YEAR 2019, IPC ADMINISTERED THIS PROGRAM FOR THE CONNECTICUT GREEN BANK, THE PROGRAM SPONSOR. THE PROGRAM WAS USED TO FINANCE OVER FORTY QUALIFYING ENERGY IMPROVEMENTS AT OWNER-OCCUPIED, 1-4 RESIDENTIAL PROPERTIES IN CONNECTICUT UTILIZING 10 LOCAL LENDERS (COMMUNITY BANKS AND CREDIT UNIONS) AND A NETWORK OF OVER 350 ELIGIBLE CONTRACTORS. 180790 311328 MULTIFAMILY AND NON PROFIT LOAN PROGRAM - THIS PROGRAM PROVIDES FINANCING, CREDIT ENHANCEMENTS, AND TECHNICAL ASSISTANCE FOR LOANS AND GRANTS MADE TO OWNERS OF MULTIFAMILY BUILDINGS FOR ENERGY UPGRADES. 188581 156313 COMMERCIAL SOCIAL PPA & MIDWEST GREEN BANKCOMMERCIAL SOLAR PPA FUND PROGRAM - THIS PROGRAM OFFERS SOLAR FINANCING INCLUDING POWER PURCHASE AGREEMENTS (PPAS) TO UNDERSERVED COMMERCIAL, INDUSTRIAL AND INSTITUTIONAL BUILDING OWNERS TO MAXIMIZE PROJECTED SAVINGS ASSOCIATED WITH SOLAR INSTALLATIONS. MIDWEST GREEN BANK EXPANSION PROGRAM - UTILIZING A GRANT FROM THE MCKNIGHT FOUNDATION, THE PROGRAM SEEKS TO EXPAND CLEAN ENERGY FINANCING PRODUCT OFFERINGS IN THE MIDWEST REGION OF THE UNITED STATES INCLUDING BY EXPLORING THE CREATION OF GREEN BANK IN THE STATE OF MINNESOTA. 188581 156313 1066573 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 1 7 1 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 1 1 0 X GEORGE D BELLAS 2034335060 845 BROOK STREET ROCKY HILL CT 06067 KERRY E O'NEILL DIRECTOR, SECRETARY & CEO 40.00 X X 57631 0 19520 BENJAMIN G HEALY DIRECTOR & FORMER PRESIDENT 1.00 X X 54468 0 9551 ROBERTO HUNTER DIRECTOR 2.00 X 0 0 0 DOUGLASS SIMS DIRECTOR, TREASURER 1.00 X 0 0 0 ELIZABETH CRUMB DIRECTOR, CHAIRPERSON 1.50 X 0 0 0 CHRISTOPHER P MAGALHAES CHIEF INVESTMENT OFFICER 40.00 X 44768 0 5162 156867 0 34233 0 0 0 0 WEB ASCENDER 2090 JOLLY ROAD STE 100 OKEMOS MI 48864 SOFTWARE DEVELOPMENT FOR PROGRAM SERVICE 125000 1 6430000 945000 7375000 LOW TO MODERATE INCOME 900099 446546 446546 SMART-E LOAN PROGRAM 900099 364281 364281 MULTIFAMILY AND NON PR 900099 311328 311328 156313 156313 1278468 2616 2616 REIMBURSED OPERATING E 900099 11370 11370 CONSULTING FEES 900099 5000 5000 16370 8672454 1278468 0 18986 457910 294894 122262 40754 320810 206572 85678 28560 11868 7643 3169 1056 43323 27900 11567 3856 60952 39253 16274 5425 13270 11066 2204 27167 27167 11247 11247 8199 4905 3294 4272 4272 35192 22663 9397 3132 9172 2670 4876 1626 18019 7296 8864 1859 2734 2734 12366 12366 27774 27774 LOAN PORTFOLIO LOSS RES 289923 289923 PROGRAM DEVELOPMENT COS 96726 96726 TECHNICAL SUPPORT COSTS 48611 48611 PROJECT INSPECTIONS 109 109 1499644 1066573 343509 89562 228357 2743372 250000 103494 45959 347681 12366 0 335315 3575719 0 51632 0 7333848 134648 26390 0 161038 X 5017810 2155000 0 7172810 0 7333848 7172810 0 X 0 1 X 1 0 X 7375000 7375000 7375000 7375000 501360 6873640 2616 2616 16371 16371 7393987 1278468 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11620 1164 10456 336061 11202 324859 335315 PARTICIPATION AGREEMENT - SECOND LIEN CREDIT AGREEMENT 3575719 C 3575719 8782705 110251 110251 8672454 0 8672454 1609895 110251 110251 1499644 0 1499644 ROBERTO HUNTER MEMBER, BOARD OF DIRECTORS 1031213 THE ORGANIZATION PROVIDED CONSULTING SERVICES TO ADMINISTER PROGRAMS OF THE CONNECTICUT GREEN BANK (CGB). MR. HUNTER IS THE EXECUTIVE VICE PRESIDENT AND CHIEF INVESTMENT OFFICER OF CGB. 0 BENJAMIN HEALEY MEMBER, BOARD OF DIRECTORS 4750000 THE ORGANIZATION MADE TWO INVESTMENTS IN THE FORM OF PROMISSORY NOTES BOTH DIRECTLY AND INDIRECTLY IN POSIGEN AND ITS AFFILIATES. AT THE TIME THE INVESTMENTS WERE MADE, MR. HEALEY WAS AN EMPLOYEE OF THE ORGANIZATION. SUBSEQUENT TO THE INVESTMENT BEING MADE, MR. HEALEY BECAME THE EXECUTIVE VICE PRESIDENT, CORPORATE DEVELOPMENT & FINANCE OF POSIGEN. 0 FORM 990, PART III, LINE 2 IPC WAS IN STARTUP PHASE IN PRIOR YEAR AND HAS BEGUN OPERATIONS OF PROGRAMS AS LISTED IN THE PROGRAM SERVICE ACCOMPLISHMENTS SECTION ON PAGE 2 OF THE 990. FORM 990, PART VI, SECTION B, LINE 11B DRAFT 990 IS REVIEWED BY DIRECTOR OF ACCOUNTING AND ADMINISTRATION, FOCUSING ON NUMERICAL DATA. THE 990 IS ALSO REVIEWED BY THE CEO AND CHIEF INVESTMENT OFFICER. AFTER STAFF REVIEW, THE 990 IS REVIEWED BY THE BOD BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING THE COMPENSATION FOR THE ORGANIZATION'S CEO AND MANAGEMENT TEAM ALONG WITH THE ORGANIZATION'S OTHER EMPLOYEES IS DONE ANNUALLY IN CONJUNCTION WITH THE PREPARATION OF THE ORGANIZATION'S ANNUAL OPERATING BUDGET. THE PROCESS INCLUDES SETTING MERIT INCREASES FOR EXISTING EMPLOYEES, PROMOTIONS FOR EXISTING EMPLOYEES AND PROPOSED COMPENSATION FOR NEW HIRES AS THE NEED ARISES. THE ORGANIZATION BASIS ITS JOB TITLES, CAREER LADDERS AND COMPENSATION RANGES FOR JOB TITLES BASED ON A STUDY CONDUCTED BY AN INDEPENDENT CONSULTING FIRM. THE ORGANIZATION'S BOARD REVIEWS THE PROPOSED COMPENSATION FOR THE UPCOMING YEAR AND VOTES TO ADOPT TO PROPOSED COMPENSATION WHICH IS MEMORIALIZED IN THE MINUTES TO THE BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.