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Children's Investment Fund Inc.

 18 Tremont Street, Suite 500
 Boston, MA 02108
[P] (617) 727-5944
[F] --
www.cccif.org
[email protected]
Theresa Jordan
Twitter
INCORPORATED: 1991
 Printable Profile (Summary / Full)
EIN 04-3105358

LAST UPDATED: 01/09/2019
Organization DBA --
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

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Mission StatementMORE »

The Children's Investment Fund (CIF) believes all children need to learn in physical environments designed to support their growth and healthy development. CIF helps non-profit organizations to develop high-quality spaces for early learning and youth development in Massachusetts; and provides financial capital and technical assistance to early education and afterschool providers.

Mission Statement

The Children's Investment Fund (CIF) believes all children need to learn in physical environments designed to support their growth and healthy development. CIF helps non-profit organizations to develop high-quality spaces for early learning and youth development in Massachusetts; and provides financial capital and technical assistance to early education and afterschool providers.

FinancialsMORE »

Fiscal Year July 01, 2018 to June 30, 2019
Projected Income $871,774.00
Projected Expense $871,774.00

ProgramsMORE »

  • Training and Technical Assistance

Revenue vs. Expense ($000s)

Expense Breakdown 2018 (%)

Expense Breakdown 2017 (%)

Expense Breakdown 2016 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

The Children's Investment Fund (CIF) believes all children need to learn in physical environments designed to support their growth and healthy development. CIF helps non-profit organizations to develop high-quality spaces for early learning and youth development in Massachusetts; and provides financial capital and technical assistance to early education and afterschool providers.

Background Statement

Children's Investment Fund (CIF) transforms learning environments for children. 

Since its inception in 1991, CIF has supported 565 capital projects that improved care and learning environments for 30,500 children. It is an affiliate of the Community Economic Development Assistance Corporation (CEDAC), an organization that provides financing and technical expertise to affordable and supportive housing projects. CIF is a 501c3 organization and is not a foundation itself.

CIF offers non-profit early education and afterschool programs the tools they need to increase organizational capacity and program quality through successful facility improvement projects. CIF has developed a proven model that includes training, technical support, low-cost financing, and a source of public funding to help pay for facility renovation or construction.

In 2013, CIF was instrumental in securing sustainable public capital financing for the early education and care sector. The bond-financed Early Education and Out of School Time (EEOST) Capital Fund was approved by the Massachusetts Legislature with an authorization of $45 million in state funding over five years and was reauthorized for an additional five years in 2018. The Massachusetts Department of Early Education and Care (EEC) contracts with CEDAC and CIF to administer the EEOST grant program. Since 2013, 25 centers have been funded and are renovating classrooms, re-designing outdoor play spaces, and constructing new buildings that support high-quality and truly engaging learning environments.

Children’s Investment Fund’s short-term goals are to strengthen its core training and technical assistance work and to highlight the role that high-quality facilities play in helping address the challenges faced by children in these centers.


Impact Statement

In 2018, CIF:

1. Provided intensive technical assistance to 56 organizations serving over 3,000 children.

2. Became a certified community development financial institution (CDFI) and received a $300,000 federal award to support early education centers.

3. Offered 7 trainings, reaching 94 individuals from 41 organizations

4. Helped award $4 million in state EEOST funding to four organizations

5. Lent $914,000 to early education and afterschool organizations that are improving their facilities

6. Presented at the national Opportunity Finance Network conference, showcasing Massachusetts as national model

CIF’s goals for 2019 include:

1. Provide technical assistance to at least 50 early education and afterschool organizations.

2. Expand our lending program in order to provide more low-cost capital to nonprofits with small profit margins.

3. Oversee the completion of at least three projects, increasing access for at least 25 children and improving the learning environments for 150 children at a minimum.

4. Release the results of a three-year evaluation on the impact of high-quality space on children and programs.


Needs Statement

Children's Investment Fund's primary need is general operating support for its core training and technical assistance work. CIF generates approximately 40 percent of its annual revenue from foundation and corporate support. CIF is poised to become a regional and national leader on early education and afterschool facilities but cannot grow without philanthropic support.

CEO Statement

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Board Chair Statement

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Geographic Area Served

STATEWIDE
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Organization Categories

  1. Human Services - Children's and Youth Services
  2. -
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

Under Development

Programs

Training and Technical Assistance

Training and Technical Assistance with non-profit early education and afterschool organizations that are improving their facilities.
Budget  --
Category  Human Services, General/Other
Population Served Children and Youth (0 - 19 years)
Program Short-Term Success  Short-term success is the engagement of at least 50 organizations in CIF's training and technical assistance, equipping them with the knowledge and ability to transform learning spaces for the children they serve.
Program Long-Term Success  Long-term success is the health and well-being of children served in early education and afterschool facilities across Massachusetts, many of whom spend over 40 hours a week in these settings.
Program Success Monitored By 

CIF continuously tracks its progress through a number of tools. CIF documents the physical space of each project it supports by sending a photographer to capture conditions in each center before and after the renovation or construction. CIF collects evaluations from each training or conference it hosts. Annual surveys are sent to all active projects in CIF’s portfolio, which helps CIF track such indicators as the number of early education or afterschool slots newly created by each project, the demographics of children served, and the challenges faced by organizations throughout the facilities improvement process. CIF also sends a survey every year to early education and afterschool organizations across the state in order to assess the need for its training and technical assistance.

In order to evaluate the impact of high-quality space created by EEOST-funded projects, CIF has embarked on a three-year comprehensive evaluation. James Bell Associates, a firm based out of the D.C. area, will conduct a short-term longitudinal study that assesses programs before and after facility improvements are made. CIF anticipates that the evaluation will not only help to establish the EEOST grant program as an evidence-informed intervention, it will also inform CIF’s work internally so that we can be sure to be achieving maximum impact.
Examples of Program Success  Since its inception in 1991, CIF has supported 565 capital projects that improved care and learning environments for over 30,000 children.

The director of an organization that worked closely with CIF reported that two parents came to her with tears in their eyes after seeing the new facility, and asked “You built this for our children?” Organizations are also reporting that these projects boost staff morale and improve children's behavior. CIF will continue to develop and advocate for high-quality space until low-income parents take it for granted that yes, their children deserve learning environments that are equal to those found in more affluent communities.


CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Ms. Peg Sprague (Board Chair)
CEO Term Start Oct 2017
CEO Email [email protected]
CEO Experience --
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
-- -- --

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

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CEO/Executive Director/Board Comments

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Foundation Comments

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Staff Information

Number of Full Time Staff 3
Number of Part Time Staff 0
Number of Volunteers 0
Number of Contract Staff 0
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 1
Asian American/Pacific Islander: 0
Caucasian: 2
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 3
Male: 0
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? No
Years Strategic Plan Considers --
Management Succession Plan --
Business Continuity of Operations Plan --
Organization Policies And Procedures Yes
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy --
Directors and Officers Insurance Policy --
State Charitable Solicitations Permit --
State Registration --

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually

Governance


Board Chair Ms. Peg Sprague
Board Chair Company Affiliation Consultant
Board Chair Term Oct 2017 -
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Karley Ausiello United Way of Massachusetts Bay and Merrimack Valley --
Renee Boynton-Jarrett Boston Medical Center; Boston University School of Medicine --
Prabal Chakrabarti Boston Federal Reserve Bank --
Anne Douglass University of Massachusetts Boston --
Pam Feingold Eastern Bank --
Bruce Figueroa Citizens Bank --
John Gardiner Independent Consultant --
Joan Kagan Square One --
Michael Lindstrom Studio MLA Architects --
Richard Muraida Rockland Trust --
Amy O'Leary Strategies for Children --
Leslie Reid Madison Park Development Corporation --
Sharon Scott-Chandler Action for Boston Community Development --
Peg Sprague Independent Consultant --
Carl Sussman Sussman Associates --
Khushbu Webber United Way of Massachusetts Bay and Merrimack Valley --
Wayne Ysaguirre Nurtury --

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 3
Asian American/Pacific Islander: 2
Caucasian: 10
Hispanic/Latino: 2
Native American/American Indian: 0
Other: 0
Other (if specified): --
Gender Female: 10
Male: 7
Not Specified 0

Board Information

Board Term Lengths --
Board Term Limits --
Board Meeting Attendance % --
Written Board Selection Criteria No
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 47%
Percentage of In-Kind Contributions --
Constituency Includes Client Representation Yes

Standing Committees

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CEO/Executive Director/Board Comments

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Foundation Comments

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Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2018 (%)

Expense Breakdown 2017 (%)

Expense Breakdown 2016 (%)

Fiscal Year July 01, 2018 to June 30, 2019
Projected Income $871,774.00
Projected Expense $871,774.00
Form 990s

2018 Form 990

2017 Form 990

2016 Form 990

2015 Form 990

2014 Form 990

Audit Documents

2018 Audited Financials

2017 Audited Financials

2016 Audited Financials

2015 Audited Financials

2014 Audited Financials

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2018 2017 2016
Total Revenue $421,542 $850,979 $1,446,260
Total Expenses $928,808 $867,834 $665,892

Prior Three Years Revenue Sources

Fiscal Year 2018 2017 2016
Foundation and
Corporation Contributions
-- -- --
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- -- --
Individual Contributions $64,216 $399,613 $954,150
Indirect Public Support -- -- --
Earned Revenue $173,624 $221,531 $265,435
Investment Income, Net of Losses $94,808 $170,898 $171,492
Membership Dues -- -- --
Special Events -- -- --
Revenue In-Kind $75,895 $49,788 $47,134
Other $12,999 $9,149 $8,049

Prior Three Years Expense Allocations

Fiscal Year 2018 2017 2016
Program Expense $774,110 $755,892 $494,303
Administration Expense $150,151 $109,558 $139,953
Fundraising Expense $4,547 $2,384 $31,636
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 0.45 0.98 2.17
Program Expense/Total Expenses 83% 87% 74%
Fundraising Expense/Contributed Revenue 7% 1% 3%

Prior Three Years Assets and Liabilities

Fiscal Year 2018 2017 2016
Total Assets $3,825,258 $4,189,484 $4,545,740
Current Assets $2,944,571 $2,531,050 $2,362,598
Long-Term Liabilities -- $0 $391,735
Current Liabilities $275,405 $132,365 $80,031
Total Net Assets $3,549,853 $4,057,119 $4,073,974

Prior Three Years Top Three Funding Sources

Fiscal Year 2018 2017 2016
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy --
Percentage(If selected) --
Credit Line No
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? --

Short Term Solvency

Fiscal Year 2018 2017 2016
Current Ratio: Current Assets/Current Liabilities 10.69 19.12 29.52

Long Term Solvency

Fiscal Year 2018 2017 2016
Long-term Liabilities/Total Assets 0% 0% 9%

CEO/Executive Director/Board Comments

Children’s Investment Fund is a financially sound organization with three characteristics that distinguish it from many other non-profits.

First, CIF is not a foundation but has provided small grants to early education and care non-profits for facility improvement projects. These resources (included in the “Facilities Grant Program” column in CIF’s audits) are fundraised from specific philanthropic supporters who see the need for CIF to act as an intermediary technical assistance and financing organization for this purpose. This funding fluctuates from year to year although CIF’s core operating expenses remain relatively stable.

Secondly, CIF offers low-interest loan financing to non-profit early education and afterschool organizations. Thanks to the generosity of several foundations, CIF maintains revolving loan funding that reflects a large amount of net assets. These loan funds do generate a small amount of revenue in the form of interest for CIF but are otherwise separate resources from our core operations.

Thirdly, CIF benefits from several multi-year grants. Accounting rules require recognizing the full amount of the grant as temporarily restricted revenue in the year the grant is committed. In subsequent years, the revenue is released from restriction and transferred to unrestricted operations as planned. However, in CIF’s audits, the change in total net assets will show a large surplus in the first year the full grant is recognized and may then show deficits in subsequent years as the grant is expended. 

Foundation Comments

Financial summary data in the charts and graphs above is per the organization's audited financials. Contributions from foundations and corporations are listed under individuals when the breakout was not available.

Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

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2. What are your strategies for making this happen?

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3. What are your organization’s capabilities for doing this?

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4. How will your organization know if you are making progress?

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5. What have and haven’t you accomplished so far?

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