Childrens Investment Fund Inc
- Assets
- $6.7m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Boston, MA
- Founding
- 03/2019
- Data as of
- 06/2022
- EIN
- 04-3105358
Organization Overview
Childrens Investment Fund Inc is located in Boston, MA. The organization was established in 2019. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Childrens Investment Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Childrens Investment Fund Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $818.0k during the year ending 06/2022. While expenses have increased by 3.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Childrens Investment Fund Inc has awarded 38 individual grants totaling $614,447. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CHILDREN'S INVESTMENT FUND'S (CIF) PRIMARY PURPOSE IS TO IMPROVE THE QUALITY OF AND EXPAND ACCESS TO EARLY LEARNING AND SCHOOL-AGE CHILD CARE PROGRAMS FOR LOW AND MODERATE-INCOME FAMILIES. IN ORDER TO BROADEN THE IMPACT OF ITS WORK CIF ALSO SEEKS TO SUPPORT AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES THROUGH PLACE-BASED TWO-GENERATION AND OTHER STRATEGIES THAT RESULT IN SAFER, HEALTHIER AND MORE STABLE ENVIRONMENTS IN WHICH TO RAISE YOUNG CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EARLY EDUCATION AND OUT OF SCHOOL TIME (EEOST) CAPITAL FUND PROGRAM WAS FIRST AUTHORIZED BY THE MASSACHUSETTS LEGISLATURE AS PART OF THE 2013 COMMUNITY DEVELOPMENT CAPITAL BOND BILL. IN MAY 2018, EEOST WAS RE-AUTHORIZED BY THE LEGISLATURE AS PART OF THE HOUSING CAPITAL BOND BILL. EACH OF THE BOND BILLS HAVE AUTHORIZED THE ISSUANCE OF UP TO $45 MILLION IN GENERAL OBLIGATION BONDS, SUBJECT TO ANNUAL ALLOCATIONS DETERMINED BY THE EXECUTIVE OFFICE FOR ADMINISTRATION AND FINANCE. ANNUAL EEOST ALLOCATIONS THROUGH JUNE 30, 2022, HAVE TOTALED $42.9 MILLION. THE PURPOSE OF EEOST IS TO PROVIDE CAPITAL GRANTS OR LOANS TO LICENSED CENTER-BASED NONPROFIT EARLY EDUCATION AND OUT-OF-SCHOOL TIME PROGRAMS TO FUND FACILITY ACQUISITION, DESIGN, CONSTRUCTION AND/OR RENOVATION. CIF, UNDER CONTRACT WITH CEDAC, UNDERWRITES, CLOSES AND DISBURSES THE GRANT FUNDS AWARDED BY THE DEPARTMENT OF EARLY EDUCATION AND CARE (EEC).
THROUGH THE TECHNICAL ASSISTANCE AND LENDING PROGRAM, CIF PROVIDES A FULL RANGE OF FINANCING AND TECHNICAL SERVICES OPTIONS FOR EARLY EDUCATION AND OUT-OF-SCHOOL TIME PROVIDERS SEEKING TO CONSTRUCT OR IMPROVE THEIR FACILITIES. IN ADDITION TO PROVIDING TECHNICAL EXPERTISE, CIF OFFERS PREDEVELOPMENT, SITE ACQUISITION, CONSTRUCTION LOANS, AND TERM LOANS TO HELP FINANCE THE COST OF DEVELOPING LARGER CAPITAL PROJECTS, LEASEHOLD IMPROVEMENTS, AND EQUIPMENT ON FLEXIBLE LOAN TERMS THAT MEET THE NEEDS OF CHILDCARE PROVIDERS OF ALL SIZES.
THE FACILITIES GRANT PROGRAM ENABLES CIF TO PROVIDE GRANT CAPITAL TO PROVIDERS TO FUND THE COST OF FACILITIES IMPROVEMENTS. CIF PROVIDES PLANNING GRANTS TO EARLY CHILDHOOD EDUCATION AND OUT-OF-SCHOOL TIME PROVIDERS ACTIVELY PLANNING A CAPITAL FACILITY PROJECT.
EVALUATION, AN ACTIVITY BEGINNING IN 2016, SEEKS TO COMPLETE AN ANALYSIS OF THE FACILITY RENOVATIONS FUNDED WITH EEOST GRANTS WHICH WILL CONTRIBUTE TO A BETTER UNDERSTANDING OF HOW SOCIAL, EMOTIONAL, AND INSTRUCTIONAL INTERACTIONS, PROGRAM DEMOGRAPHICS, AND THE PHYSICAL ENVIRONMENT INFLUENCE PROGRAM QUALITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Lindstrom President | OfficerTrustee | 1.5 | $0 |
Khushbu Webber Board Member/corporate Clerk | OfficerTrustee | 1 | $0 |
Pam Feingold Treasurer | OfficerTrustee | 1.5 | $0 |
Amy O'leary Vice President | OfficerTrustee | 1.5 | $0 |
Sara Schnorr Corporate Clerk (left During Fy22) | Officer | 1 | $0 |
Bruce Figueroa Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cedac Management Services | 6/29/19 | $535,535 |
James Bell Associates Evaluation Project Consulting | 6/29/19 | $166,624 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,034,620 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,047,034 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,081,654 |
| Total Program Service Revenue | $131,473 |
| Investment income | $14,405 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,227,532 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,280 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,358 |
| Fees for services: Accounting | $23,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $759,785 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $17,936 |
| All other expenses | $7,420 |
| Total functional expenses | $818,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,356 |
| Savings and temporary cash investments | $4,404,569 |
| Pledges and grants receivable | $606,666 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,480,967 |
| Intangible assets | $0 |
| Other assets | $112,838 |
| Total assets | $6,709,396 |
| Accounts payable and accrued expenses | $150,495 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $150,495 |
| Net assets without donor restrictions | $1,625,382 |
| Net assets with donor restrictions | $4,933,519 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,709,396 |
Grants Awarded
Over the last fiscal year, Childrens Investment Fund Inc has awarded $40,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Stoneham, MA PURPOSE: FACILITIES GRANT | $20,000 |
Fitchburg, MA PURPOSE: FACILITIES GRANT | $10,000 |
Whitinsville, MA PURPOSE: FACILITIES GRANT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Childrens Investment Fund Inc has recieved totaling $1,015,000.
| Awarding Organization | Amount |
|---|---|
Liberty Mutual Foundation Inc Boston, MA PURPOSE: INCLUSIVE FUTURES FUND | $1,000,000 |
Rockland Trust Blue Hills Charitable Foundation Rockland, MA PURPOSE: PROGRAM SUPPORT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dr Miriam And Sheldon G Adelson Medical Research Foundation Needham, MA | $9,824,950 | $46,333,953 |
Hope For Youth Inc Amityville, NY | $10,865,800 | $14,335,992 |
Lauren And Lee Fixel Family Foundation Inc New York, NY | $40,185,371 | $21,974,777 |
Joy In Childhood Foundation Inc Canton, MA | $7,582,989 | $8,931,292 |
Joint Council For Economic Opportunity Of Clinton & Franklin Plattsburgh, NY | $5,357,972 | $10,698,049 |
Health Management Group Ltd Getzville, NY | $13,266,135 | $8,802,636 |
Roy Lichtenstein Foundation New York, NY | $85,182,586 | $2,378,185 |
Mccance Foundation Tr North Scituate, MA | $91,930,926 | $3,999,038 |
Childrens Dyslexia Centers Inc Lexington, MA | $70,604,540 | $15,265,584 |
North Central Area Agency On Aging Inc Hartford, CT | $1,856,134 | $6,505,484 |
Hampton Classic Horse Show Inc Bridgehampton, NY | $1,702,497 | $4,948,481 |
Peggy Mcgrath Rockefeller Foundation New York, NY | $16,278,993 | $1,905,197 |