Broadstreet Impact Services

ICA Fund, an innovative venture investor, accelerator, and CDFI committed to closing racial and gender wealth gaps, recently engaged Broadstreet to refine its impact management strategy and strengthen its data management systems. Our impact team coached ICA staff on key frameworks and tools, developed an IM plan aligned with their goals, and implemented an automated data process to streamline reporting. Through this partnership, ICA is now better equipped to manage and report on their impact, driving progress toward their goals of closing racial and gender wealth gaps through growing Bay Area businesses.   Thank you Dianna Tremblay and the ICA Fund team for your partnership! Read our case study here: https://lnkd.in/gWiDjK-U #pavingwiderpaths #impactmanagement #impactadvisory #socialimpact #wealthequity #impactinvesting  

As Broadstreet celebrates 20 years of impact, we're reflecting on our journey and continuing our work to build stronger financial systems that expand opportunities for all. As we’ve learned, “success is impossible unless we directly address fundamental issues of equity and fuel equal access to opportunity.” From managing $3.5 billion in impact portfolios to partnering with local leaders, we’re focused on driving meaningful change in disinvested communities. Looking ahead, we’re committed to scaling our impact and creating just, healthy, and prosperous communities. Read the blog from our CEO, Kevin Boes here: https://lnkd.in/eRjvxnrE #PavingWiderPaths #ImpactInvesting #CommunityDevelopment #Broadstreet20 #EconomicOpportunity #SocialImpact

What a way to end the week! We are honored to announce that LISC has been awarded $65M in New Market Tax Credits from the U.S. Treasury’s Community Development Financial Institutions Fund (CDFI Fund), to fuel investments in child care, economic development, community spaces and many more projects that nurture wellbeing in the communities we work with.   For 20 years, Broadstreet Impact Services, a LISC affiliate, has syndicated New Markets Tax Credits to make community change, and the latest award brings that investment to nearly $1.3 billion. LISC is one of 104 organizations receiving New Markets Tax Credits this year and received the highest award level offered. It will help us invest in new work to create accessible jobs and expand access to healthcare services in low-income communities across LISC’s local program and rural footprint, as well as to continue supporting existing projects.   The award is a testament to LISC and Broadstreet’s track record deploying and managing these critical funds, and creating meaningful impact in communities that have been overlooked and under-invested for far too long. And if that weren't enough, Broadstreet is also a leader in efforts to decarbonize New Markets Tax Credit investment work (check out their new report, Decarbonizing the NMTC Industry). Excited to forge ahead with our partners and colleagues on this work. https://lnkd.in/eDDEgjZi

🎉 Big News at Broadstreet! 🎉 We’re thrilled to announce that on behalf of our parent company, Local Initiatives Support Corporation (LISC), we’ve secured a $65 million federal NMTC allocation from the Community Development Financial Institutions Fund (CDFI Fund)! This funding empowers us to invest in transformative projects that create quality jobs and expand healthcare access and other services in underserved communities across the country. With this award, our total federal NMTC allocation now stands at an impressive $1.27 billion, reinforcing our position as the largest cumulative recipient of federal NMTCs. When combined with our state NMTC awards, we’ve reached a significant milestone of $1.3 billion in total NMTC funding! A huge thank you to our partners and supporters for being part of this incredible journey. Together, we’re driving positive change and making a lasting impact! Want to see the difference we’re making? See our NMTC portfolio here: https://lnkd.in/gDE_9dkK #PavingWiderPaths #NMTC #CommunityImpact #EconomicDevelopment #HealthcareAccess #JobCreation #CDFIFund #impactinvesting

Decarbonization in the #NMTC sector requires a systems change that involves collaboration across various sectors. By integrating climate-focused strategies, CDEs can better serve the communities they finance and expand their impact by partnering with Greenhouse Gas Reduction Fund (#GGRF) awardees. This report is a call to action, empowering CDEs to adopt practices that contribute to decarbonization. Backed by comprehensive research and interviews with key NMTC players, the findings highlight the steps CDEs can take to align with broader sector trends, mitigate risks, and support the transition towards a more sustainable and equitable future. Let's work together to drive this change. Read the full report here: https://lnkd.in/gjpSWqAs A special thank you to our interviewees: Clifford Kenwood Mott Smith Paul Breckenridge Mindy Christensen Sarah Ransome Will Robison Becky Regan Keith Bisson Michael Swack Kyle Walton Dan Klaff Jim Howard Anna Smukowski Leah Rogan Ray D. Matt Drinen Benjamin Alderton Saurabh Narain Peter Lawrence Steve Chung of Reinvestment Fund Amanda Frazier Wong Tracy Ward Adam Rose #PavingWiderPaths #Sustainability #Decarbonization #CommunityDevelopment #RealEstate #impactinvesting

We are thrilled to announce Broadstreet has successfully completed its first System and Organizational Controls (SOC) 1 audit, representing a major milestone in strengthening our operational controls and security standards, particularly in evaluating internal controls over data and financial reporting for third-party fund administrators. This achievement is a direct result of the dedication and hard work of our exceptional team, who have ensured our security protocols and operational structures are both robust and reliable. Our Managing Director, Chris Rakers, highlights the significance of this achievement: “Completing our first SOC audit at an early stage in the growth of our fund administration business is a testament to our unwavering commitment to excellence. We are dedicated to serving this historically underserved subset of the private fund industry and remain steadfast in our mission to deliver the same level of trusted expertise and service that the broader private funds market enjoys.” Read the full press release here: https://lnkd.in/g7n2SXJ2 #PavingWiderPaths #SOC1 #FundAdministration #FundAdmin #ImpactInvesting #OperationalExcellence #impactinvesting

The Providing Real Opportunities for Progress by Edwards Lifesciences (PROPEL) Fund is a $25 million New Markets Tax Credit (NMTC) equity fund that was created to bridge gaps in capital access for high-value economic development plans, particularly for projects designed to promote economic opportunity, racial equity and improved health. The fully deployed PROPEL Fund invested in six projects that fueled more than $87 million in development activity—all in communities with high rates of poverty and unemployment, as well as large populations of people of color. Project partners are creating nearly 400 full-time jobs, alongside hundreds of temporary construction positions, and their projects are expected to offer health services to nearly 50,000 people, most of whom are medically underserved. Project investments include: Autism Community Network Bronx Community Health Network (BCHN) College Park Native American Health Center PATH (People Acting to Help), Inc. The Skills Center Broadstreet leverages its extensive #NMTC expertise in developing and managing social impact funds on behalf of institutions. The NMTC program is a federal initiative designed to stimulate investment in low-income communities. Broadstreet worked closely with Edwards Lifesciences to identify investment opportunities that fit the PROPEL mandate. Read the full case study here: https://lnkd.in/geaWEqp8 #PavingWiderPaths #impactinvesting #fundmanagement #NMTCInvesting #communityinvesting

We are pleased to announce that we have fully deployed the $25 million PROPEL Fund to finance economic development projects that promote health, wealth and opportunity, particularly for people of color. PROPEL, which stands for Providing Real Opportunities for Progress by Edwards Lifesciences, was capitalized by the company as part of its $100 million commitment to mission-driven investments. PROPEL’s investments are expected to support health services for 50,000 people — most of whom have low incomes and might not otherwise have access to care — while fueling nearly 400 jobs. The fund leverages Broadstreet’s expertise in utilizing the federal #NMTC program, which is designed to stimulate investment and economic growth in low-income urban and rural areas lacking access to capital. Thank you, Edwards, for your partnership and commitment to supporting a better quality of life for tens of thousands of people! Read the full press release here: https://lnkd.in/guDjQpaB #PavingWiderPaths #impactinvesting #fundmanagement #NMTCInvesting #communityinvesting

Broadstreet recently had the privilege of visiting the new BUILD Chicago campus in the Austin community. Since 1969, BUILD has been dedicated to impactful gang intervention, violence prevention, and youth development programs. During our visit, we toured the state-of-the-art facility and participated in a community cleanup at a nearby park. Seeing one of our #NMTC project investments thriving and positively impacting the community was incredibly inspiring and rewarding. A huge thank you to the BUILD team for sharing your mission with us and for providing the opportunity to be of service to this remarkable community. Discover more about BUILD and how you can get involved here: https://lnkd.in/dcJHUBz Learn more about Broadstreet’s NMTC commitment to this transformative project here: https://lnkd.in/g_ba_Gmy #PavingWiderPaths #CommunityInvesting #NMTCInvesting #ImpactInvesting #ServiceDay

I will be at the US SIF Forum in Chicago next week. If you are an impact fund manager interested in fund administration or impact advisory services, reach out and we can find time to connect!