2025-08-15T12:06:12-05:00 2024-09-30 521186096 RUBINO AND COMPANY CHARTERED 6903 ROCKLEDGE DRIVE SUITE 300 BETHESDA MD 208171818 990 2023-10-01 320340831 BBI HOLDINGS INC BBIH 2028429090 3418 4TH STREET SE WASHINGTON DC 20032 ERIN FISHER CHIEF EXECUTIVE OFFICER 2028429090 2025-08-15 1 0 KAY VOLLANS CPA P01404047 3015643636 2023 2025-03-06 01:10:19Z ERIN FISHER 3418 4TH STREET SE WASHINGTON DC 20032 494597 0 X WWW.BBIDC.ORG X 2011 DC TO ACQUIRE, HOLD, OWN, MANAGE, MAINTAIN, OPERATE, SELL, AND LEASE REAL PROPERTY, EXCLUSIVELY IN SUPPORT OF THE CHARITABLE PURPOSE OF BRIGHT BEGINNINGS, INC. X 8 7 0 7 0 0 0 0 407880 174000 0 0 0 320597 407880 494597 0 0 0 0 0 0 0 0 9012 389692 309717 389692 309717 18188 184880 10349776 0 10534656 0 -184880 0 X TO ACQUIRE, HOLD, OWN, MANAGE, MAINTAIN, OPERATE, SELL, AND LEASE REAL PROPERTY, EXCLUSIVELY IN SUPPORT OF THE CHARITABLE PURPOSE OF BRIGHT BEGINNINGS, INC. 0 1 225882 174000 TO ACQUIRE, HOLD, OWN, MANAGE, MAINTAIN, OPERATE, SELL, AND LEASE REAL PROPERTY, EXCLUSIVELY IN SUPPORT OF THE CHARITABLE PURPOSE OF BRIGHT BEGINNINGS, INC. 225882 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 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 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 X ERIN FISHER 2028429090 3418 4TH STREET SE WASHINGTON DC 20032 ERIN FISHER CHIEF EXECUTIVE OFFICER BBI 1.00 40.00 X X 0 193003 10843 LINDA SCHAKEL PRESIDENT 1.00 1.00 X X 0 0 0 ANDREW ROGERS VICE PRESIDENT 1.00 X X 0 0 0 SHANE MCLAUGHLIN TREASURER 1.00 X X 0 0 0 SUSAN BROBECK SECRETARY 1.00 X X 0 0 0 MARIA ESTEFANIA DIRECTOR 1.00 X 0 0 0 ELIZABETH FOTHERINGILL DIRECTOR 1.00 X 0 0 0 LAURENT SHARPLESS-ROBINSON DIRECTOR 1.00 X 0 0 0 0 193003 10843 0 0 1 0 0 RENTAL INCOME 532000 174000 174000 174000 NMTC UNWINDING 900099 320597 320597 320597 494597 174000 0 320597 39840 39840 3600 3600 1 1 44041 37359 5191 1491 222235 188522 26192 7521 309717 225882 74823 9012 92190 0 1246604 0 0 0 9010982 0 10349776 0 9310000 0 1224656 0 10534656 0 X -184880 0 -184880 0 10349776 0 184880 0 X X 0 1 X 1 0 X X X 1 BRIGHT BEGINNINGS INC 521697917 7 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 X PART X, LINE 2: THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 509(A)(3) OF THE INTERNAL REVENUE CODE AND THE APPLICABLE INCOME TAX REGULATIONS OF THE DISTRICT OF COLUMBIA. THE CORPORATION IS NOT A PRIVATE FOUNDATION AND IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. NO PROVISION FOR INCOME TAXES IS REQUIRED FOR 2024 OR 2023. THE ORGANIZATION'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE ORGANIZATION IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. INCOME TAX RETURNS FOR THE YEARS ENDED SEPTEMBER 30, 2023, 2022 AND 2021 REMAIN OPEN TO EXAMINATION BY THE TAXING JURISDICTIONS. 0 0 0 0 0 0 0 0 0 ERIN FISHER CHIEF EXECUTIVE OFFICER BBI 0 193003 0 0 0 0 0 0 0 10843 0 203846 0 0 PART I, LINE 3 COMPENSATION IS DETERMINED BY THE RELATED ORGANIZATION, BRIGHT BEGINNINGS, INC. NEW MARKETS TAX CREDIT ASSET TRANSFER TO RELATED ORGANIZATION 2024-01-10 8788748 THE FUND, WITH THE ORGANIZATION AS ITS SOLE MEMBER, ENTERED INTO A REDEMPTION AND ASSIGNMENT AGREEMENT, WHEREBY IT REDEEMED ITS INTEREST IN THE CDE LENDER IN EXCHANGE FOR ASSIGNMENT OF THE QLCIS FROM THE CDE LENDER TO THE FUND. 521697917 BRIGHT BEGINNINGS INC 3418 4TH STREET SE WASHINGTON DC 20032 501(C)(3) 0 0 0 0 SCHEDULE N, PART 1 ON JANUARY 10, 2024, PURSUANT TO THE PUT AND CALL AGREEMENT, THE TAX CREDIT INVESTOR DETERMINED TO EXERCISE ITS PUT OPTION, AND THEREAFTER INITIATED A SERIES OF TRANSACTIONS INTENDED TO UNWIND THE ORIGINAL NMTC FINANCING. THE ORGANIZATION PURCHASED THE TAX CREDIT INVESTOR'S INTEREST IN THE INVESTMENT FUND AT A COST OF $1,000, AND ASSUMED ALL OF THE ASSETS AND LIABILITIES OF THE INVESTMENT FUND, INCLUDING ALL OF THE ORGANIZATION'S NOTES RECEIVABLE HELD BY THE FUND (LEVERAGE LOAN).THE FUND, WITH THE ORGANIZATION AS ITS SOLE MEMBER, THEN ENTERED INTO A REDEMPTION AND ASSIGNMENT AGREEMENT, WHEREBY IT REDEEMED ITS INTEREST IN THE CDE LENDER IN EXCHANGE FOR AN ASSIGNMENT OF THE QLICIS FROM THE CDE LENDER TO THE FUND IN THE ORIGINAL PRINCIPAL AMOUNT OF $9,310,000. THE FUND THEN ASSIGNED THE QLICIS TO THE ORGANIZATION IN SATISFACTION OF THE LEVERAGE LOAN. THIS RESULTED IN A $2,616,300 GAIN ON THE FORGIVENESS OF DEBT AND THE DISSOLUTION OF BBI HOLDINGS, INC. DURING THE YEAR ENDED SEPTEMBER 30, 2024. FORM 990, PART III, LINE 3 LAND AND BUILDING TRANSFERRED TO BRIGHT BEGINNINGS, BBI HOLDING DISSOLVED FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS COMPLETE A CONFLICT-OF-INTEREST POLICY FORM ANNUALLY. THE ORGANIZATION MAINTAINS A BOARD PROFILE WHICH IS UPDATED AND MONITORED THROUGHOUT THE YEAR. FORM 990, PART VI, SECTION C, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. BRIGHT BEGINNINGS INC 3418 4TH STREET SE WASHINGTON DC 20032 521697917 EDUCATION, FAMILY SERVICES DC 501(C)(3) LINE 7 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 1 0 BRIGHT BEGINNINGS INC J 174000 FMV BRIGHT BEGINNINGS INC P 3600 FMV BRIGHT BEGINNINGS INC R 8788748 FMV