Message From Our President

Dear Friends,

When BII first launched our pilot fund in 2013, there was no such thing as a racial justice lens in impact investing. What a long way we’ve come since then! With eight years and over 60 investments under our belts, we’ve learned a great deal about what it takes to invest to close the racial wealth divide in our communities. Over the past few years and especially in 2020, that’s emerged as a central thesis for many funds in Massachusetts and throughout the nation.

Today, our fund and the entrepreneurs we’ve invested in continue to thrive, despite the challenges of COVID-19. Our Integrated Capital Fund-Building Cohort members are well on their way to launching their own place-based funds. So now our work is about transforming the field so that closing the racial wealth divide becomes integral to any community-focused investing strategy. That means sharing what we’ve learned about how to source, diligence, structure and manage investments based on the principles of economic justice. It includes helping to rebalance the relationship between financial and impact returns so entrepreneurs are rewarded for the social and ecological impact they create. And it includes exploring innovative governance structures that disaggregate capital from power so that the patterns of the past aren’t recreated in the funds of the future.

Over the past 18 months, I’ve been working closely with our Board on identifying a new leader for the organization with the skills, passion and relationships to take BII into the future. We feel enormously fortunate to have found that leader in Betty Francisco, who I am honored to announce as BII’s incoming CEO.

If you haven’t crossed paths with Betty yet, you probably will soon enough. Betty comes to us from Compass Working Capital where she has served as General Counsel for the last 3½ years. She is also the co-founder of Amplify Latinx and sits on the boards of BILH, the Boston Foundation and Nellie Mae Education Foundation, among others. Boston Magazine named her as one of the 100 Most Influential People in Boston in 2020 and 2018, and the Boston Business Journal named her as one of the 2020 Power 50 – Extraordinary Year Extraordinary People. Betty is no stranger to BII, as we’ve been blessed to have her serving on BII’s Investment Committee since January 2019.

Since the onset of COVID-19, Betty has been a force of nature on behalf of entrepreneurs of color who have disproportionately endured the ravages of COVID-19 on their economic well-being. I’ve witnessed her light a fire underneath lenders and angel investors, technical assistance providers and researchers, philanthropists and policymakers to take action to correct structural inequities in our communities. Betty will begin her tenure as CEO on May 17^th, when she’ll bring that passion and dedication to BII as a platform from which she can continue to build multi-stakeholder partnerships and collaborations throughout our state and beyond.

I will continue in my role as Board President to partner with Betty in transitioning BII into its next stage of growth. Please join me in welcoming our new CEO.

Warmly,

Deborah Frieze
Founder and President

Dear Friends,

Boston Impact Initiative condemns the racially motivated murders in Atlanta on March 16th. This act is another case of the uniquely American plague of mass shootings, which tragically occurred again just days later in Boulder. But the Atlanta attack was a mass shooting mixed with white supremacy – something that we also witnessed in Charleston in 2015, Pittsburgh in 2018, and El Paso in 2019. We stand with the Asian American and Pacific Islander community in their grief, and we lift up the experiences of women, for whom this violence is appalling yet its misogynist roots are familiar. For the AAPI community, this is another horrific incident in a long history of being targeted, excluded, and scapegoated in this country.

For me, I feel a personal connection with the AAPI community. My grandmother, Fredisvinda, came to the U.S. from the Philippines as a war bride in 1951. The U.S. held the Philippines as a colony from 1898 to 1946 and maintained an enormous naval base there until 1992. My American grandfather was in the U.S. Navy during WWII, stationed at Subic Bay.

When my grandparents moved back to the States with their daughters, they settled in Pennsylvania and my grandmother made her new home despite being faced with anti-Asian sentiment. This harassment ranged from neighbors protesting when my grandparents purchased their house to people yelling “Die, Japs!” and making machine-gun noises when my grandmother was out with her daughters. But my grandmother loved the U.S. She was the first in her family to emigrate and she encouraged many Filipino relatives to become U.S. citizens by serving in the U.S. Navy.

I am sharing this personal story to say that the people who were murdered on March 16th, most of them Asian-American women, each had their own story. And like my grandmother, many were striving for a decent life despite the anti-Asian harassment and violence perpetuated by their neighbors and the government.

At BII, we are standing in solidarity with the AAPI community in the Boston area, which has suffered harassment, economic hardship, and lack of access to capital, especially in the last year. Here are some organizations that are doing exceptional work in Eastern MA. Please join us in supporting them.

• Chinatown Community Land Trust
• Chinese Progressive Association
• The Boston Foundation Asian Community Fund
• VietAID

Sincerely,

Aliana Pineiro

Impact Director, Boston Impact Initaitive

JOB DESCRIPTION

Impact Investment Associate

Location: Boston, MA

Industry: Non-profit / Financial Services

Employment Type: Full-time

Contact: jobs@bostonimpact.com

Overview

The Boston Impact Initiative Fund is an impact investing fund dedicated to closing the racial wealth divide. We invest integrated capital (equity, debt and grants) in regenerative local enterprises that restore the productive capacity of communities of color in Eastern Massachusetts. We are a 501(c)3 charitable loan fund that has raised $7M from values-aligned accredited and non-accredited investors. We also host a cohort of 11 communities around the country seeking to design and launch integrated capital funds dedicated to closing the racial wealth divide.

BII pioneers an integrated capital approach for capital deployment. We believe that we can best support the creation of resilient local economies by using a range of integrated capital tools: loans, credit enhancements, equity investments, royalty finance, direct public offerings, crowdfunding, grants and more. 

Responsibilities

The Impact Investment Associate plays a significant role in BII’s integrated capital strategy. The primary responsibilities include vetting prospective investments and providing on-going support to existing portfolio companies. Responsibilities also include:

• Conduct due diligence for prospective investment opportunities.
• Maintain portfolio tracking reports and written documentation on investment decisions.

• In collaboration with colleagues, discover, define and evaluate new investment opportunities and their fit in the portfolio.
• Research and present analyses of the total portfolio performance and risk profile.

• Collect legal documents from companies and liaise with fund attorneys to put together documents for investment.
• Coordinate and attend annual meetings with portfolio companies, assist with analysis of impact data, assist with annual impact report, and assist with on-going impact management of portfolio.
• Track technical assistance provided to portfolio companies.
• Perform any and all other duties and responsibilities of a similar nature and character those above, which may be assigned and/or directed.

Qualifications 

• Bachelor’s degree and a minimum of 1 year of relevant work experience in FP&A, Corporate Finance, and/or Business Controller positions.
• Demonstrated interest in and understanding of economic justice, gender equity,  sustainability, and/or related topics.
• Excellent skills in quantitative analysis, problem solving and general critical thinking. 
• Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment.
• Unquestioned ability to handle confidential information in a professional manner. 
• Knowledge of investment assets (e.g. stocks, bonds, property, commodities, cash) and markets. Knowledge of analytical methods for determining fair value and an investment’s merits. Knowledge of investment implementation methods, including types of fund vehicles (e.g. mutual funds, ETFs, private partnerships) and typical fund terms in both public and private asset classes. 
• Bilingual in Spanish is a plus.

Compensation and Benefits

This is a full-time, exempt position. The salary range is $50,000 – $65,000 and commensurate with experience. Boston Impact Initiative offers a work environment that supports the unique needs of each employee to balance work and life. We offer a benefits package that includes an employee bonus pool, remote and flexible work options, health coverage, paid time off and professional development support. 

How to Apply

The Boston Impact Initiative is an equal opportunity employer. Boston residents, women, people of color, immigrants, queer and gender nonconforming people strongly encouraged to apply. 

To apply, please email your cover letter, resume, up to 3 references, and a link to your portfolio or examples of relevant work ​to jobs@bostonimpact.com​.

In your cover letter,​ ​please answer the following questions with no more than 3-5 bullet points per question:

• What about BII’s mission appeals to you?
• How does this role align with your current career trajectory?
• What aspects of your experience are you most eager to contribute toward this role?
• Anything else you would like us to know.

Our ideal start date for this role is April 2021 with interviews beginning in late February 2021. Applications will be evaluated as they arrive and the position will remain open until filled.

Job Posted on DATE 2/9/21

Caraballo Accounting provides accounting and HR services and training to Latinx small business owners in Eastern MA. Through cultural competence and Spanish-language instruction, they address barriers for local entrepreneurs looking to launch, grow, and expand their businesses. Owner Franklin Caraballo has partnered with various local Latinx organizations to address the need for advisory support and small- business coaching in the region. He currently serves the communities of Lowell, Lawrence, and Worcester. In 2021, BII made a loan for expanding the team and building out its online training platform.

Learn more about Caraballo Accounting

The Chelsea Business Foundation is a nonprofit organization that invests in the development of the business community in Chelsea, MA and fosters increased access to resources for Chelsea’s Latino business community and other small businesses. Its goal is to create an engaged community by hosting events and providing resources, technical assistance, and financial support. CBF is an enabler for small business owners to grow and scale their businesses. In 2020, BII provided a loan and a line of credit to Chelsea Business Foundation to support its technical assistance for small businesses.

Learn more about Chelsea Business Foundation

MentorWorks aims to make higher education and technical training more accessible through income share agreements (ISAs). In partnership with different universities and community colleges, MentorWorks provides both income-share based education financing and career mentorship, the first platform to do so. In addition to expanding access to higher education, MentorWorks models inclusive ownership. 50% of the business is owned by people of color, and employees have equity in the company.

In 2020, BII invested in MentorWorks through a special funding vehicle (SPV), along with ECMC Foundation, enabling Mentorworks to fund the higher education of students, primarily of color, who are attending community colleges or enrolled in technical training programs in Boston.

Learn more about MentorWorks

Boston Impact Initiative is looking for an Impact Investment Intern and a Marketing Intern for 8 to 10 hours per week during Spring Semester 2021.  This is a remote and unpaid internship, but we can provide support needed to get school credit and/or funding.

Deadline for applications for Spring is Jan 1st. Email jobs@bostonimpact.com with a resume and brief cover letter. Please note the internship that you are applying for in the subject line of the email.

Please scroll down for internship descriptions.

Impact Investment Intern

Responsibilities

The Impact Investment Intern plays a significant role in BII’s integrated capital strategy. The primary responsibilities include working together with the Impact Investment Associate and Directors in analyzing prospective investments and providing on-going support to existing portfolio companies. 

• Maintain a thorough understanding of the investment thesis and mission of BII
• Investment Analysis: Financial modeling, valuation, industry or asset class research, and general investment diligence
• Portfolio Analysis: Support the Staff in performing analysis on existing investments, frequently with the intent of communicating conclusions and recommendations to the Staff or the Investment Committee
• Administration: Maintenance of BII’s electronic files, operating / investment reports, and other reporting
• Miscellaneous: Perform any such duty as necessary to support BII’s impact and financial processes.

Qualifications 

• Must be enrolled in an undergraduate or graduate degree program
• Demonstrated interest in and understanding of economic justice, sustainability, and/or related topics
• Excellent skills in quantitative analysis, problem solving and general critical thinking
• Strong written and verbal communication skills
• Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment
• Ability to manage multiple tasks and to meet deadlines 
• Excellent organization, attention to detail and follow-through
• Unquestioned ability to handle confidential information in a professional manner 
• Possess analytical skills and an interest in financial markets, public policy and social and environmental issues
• Proficiency with MS Office (Excel, Word, PowerPoint)
• Knowledge of investment assets and markets. Knowledge of analytical methods for determining fair value and an investment’s merits. Knowledge of investment implementation methods and typical fund terms in both public and private asset classes

Marketing Intern

Responsibilities

The Marketing Intern plays a significant role in BII’s communications and social media strategy. The primary responsibilities include working with the Impact Director to manage communications materials and social media channels. 

• Maintain a thorough understanding of the investment thesis and mission of BII
• Create communications collateral and write content for each new investment.
• Curate content for social media channels (Twitter, Instagram, Facebook, LinkedIn), including portfolio updates, thought-leadership content, and other information. 
• Meet goals of organically growing followers across all social media platforms.
• Miscellaneous: Perform any such duty as necessary to support BII’s impact and marketing processes.

Qualifications 

• Must be enrolled in an undergraduate or graduate degree program
• Demonstrated interest in and understanding of economic justice, sustainability, and/or related topics
• Excellent written and verbal communication skills
• Familiarity with the use of social media in broader communication strategy
• Resourceful, proactive, able to prioritize and navigate in a fast-paced team-oriented environment
• Ability to manage multiple tasks and to meet deadlines 
• Excellent organization, attention to detail and follow-through
• Unquestioned ability to handle confidential information in a professional manner 
• General understanding of investment principles, impact investing, small business, social entrepreneurship, and/or other related topics. 
• Proficiency with MS Office (Excel, Word, PowerPoint)

Holiday season is nearly upon us. Here’s how you can support local businesses and give your loved
ones something delicious or delightful to pull them out of the pandemic blues.

50 Kitchen is an American Southern fusion restaurant in Fields Corner, Dorchester. With tasty menu items like Shrimp & Grits, Smoked Brisket Bahn Mi, and Spicy Bang Bang Cauliflower, once you try it, you’ll be back for more! Order for pick up here, or you can dine-in for the full experience. (IG @chef_50)

88 Acres makes delicious bars, butters, ‘nola, and salad dressings from nutrient-rich sunflower, pumpkin, and watermelon seeds. You can buy their products from their online store and Whole Foods, Target, and other grocery stores. (IG @88acres)

Delectable Desires Pastries makes beautiful custom cakes for special occasions and delicious pies and baked good for the holidays! Located in West Roxbury. Call ahead to order today (617) 678-6001 (IG @delectabledesirespastries)

Done Good is the one-stop-shop for buying sustainable and ethically made products. You can find clothes and accessories, home décor, selfcare items, and outdoor goods from thousands of brands. You can even filter by your values, like Made in USA, Women/POC-owned, and Recycled/Upcycled. Get ADD’L $20 off $100+ purchase w/ code: BostonImpact20 until 12/31/20!  (IG @donegoodteam)

Fresh Food Generation is a farm-to-plate caterer, food truck and café that serves up healthy Caribbean-inspired cuisine. Order catering for your next socially distanced backyard gathering or visit the truck when it is out and about in Boston. (IG @freshfoodgeneration)

Math Talk CEO, Omo Moses, wrote a sweet educational children’s book called Sometimes We Do, illustrated by Diego Chaves. It models ways for fathers to teach math to their small children in everyday interactions. It’s written for Pre-K and K children and you can purchase it for little ones in your life on the Tumblehome Publishers website, it’s also available at Target and Amazon.

Sweet Teez Bakery is a nut-free baker that makes gorgeous cakes and cupcakes with your logo in edible frosting! They are also known for their special Jamaican Rum Cake. See all their offerings and order online or fill out this form for a special occasion order. (IG @sweetteezbakery)