2025-10-28T07:38:59-05:00 2024-12-31 060903326 WHITTLESEY PC 280 TRUMBULL ST 24TH FL HARTFORD CT 06103 990 2024-01-01 830808658 INCLUSIVE PROSPERITY CAPITAL INC INCL 2034335060 75 CHARTER OAK AVENUE 1-200 HARTFORD CT 06106 MARK DEBONEE CFO 2034335060 2025-10-23 1 1 LISA WILLS P01828548 8605223111 2024 2025-03-06 01:10:19Z X MARK DEBONEE 75 CHARTER OAK AVENUE 1-200 HARTFORD CT 06106 10811577 0 X WWW.INCLUSIVEPROSPERITYCAPITAL.ORG X 2018 CT LESSEN THE BURDENS OF GOVERNMENT THROUGH CLEAN ENERGY INVESTMENT. 5 4 0 0 0 0 2210660 6820276 3267794 3952390 522298 38911 0 0 6000752 10811577 0 0 0 0 4257944 4303029 0 0 270193 5306158 5521490 9564102 9824519 -3563350 987058 36915781 39204280 35547467 36929435 1368314 2274845 X IPC'S PURPOSE IS TO LESSEN THE BURDENS OF GOVERNMENT AND TO PROTECT, PROMOTE AND PRESERVE THE NATURAL ENVIRONMENT BY: 1) DEVELOPING AND SUPPORTING PROGRAMS TO FINANCE AND STIMULATE DEMAND FOR CLEAN ENERGY INVESTMENT IN RESIDENTIAL, MUNICIPAL, SMALL BUSINESS, AND LARGER COMMERCIAL PROJECTS; 2) PROMOTING THE USE, AVAILABILITY, EFFICACY, AFFORDABILITY AND QUALITY OF CLEAN ENRGY, ENERGY EFFICIENCY, SUSTAINABLE, HEALTHY AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE AND THE SOCIAL AND ECONOMIC BENEFITS DERIVED THEREFROM; 3) EDUCATING THE PUBLIC AND ENVIRONMENTAL, SOCIAL, HEALTH AND RESILIENT BUILDING SYSTEMS/STRUCTURES AND INFRASTRUCTURE; AND 4) PROMOTING THE REDUCTION OF GREENHOUSE GAS EMISSIONS, PROMOTING AND/OR MITIGATING THE ADVERSE EFFECTS OF CLIMATE CHANGE, AND ACHIEVING OTHER POSITIVE ENVIRONMENTAL IMPACTS, INCLUDING THOSE LEADING TO BETTER HEALTH OUTCOMES. 0 0 2508361 994599 COMMERCIAL SOLAR PPA FUND PROGRAM - THIS PROGRAM OFFERS SOLAR FINANCING INCLUDING POWER PURCHASE AGREEMENTS (PPA) TO UNDERSERVED COMMERCIAL, INDUSTRIAL AND NONPROFIT BUILDING OWNERS TO MAXIMIZE PROJECTED SAVINGS ASSOCIATED WITH SOLAR INSTALLATIONS. 3239594 1922423 ADVISORY AND CONSULTING SERVICES - IPC STAFF PROVIDES OUTSOURCED PROGRAM ADMINISTRATION AND CONSULTING SERVICES FOR CLEAN ENERGY FINANCING PROGRAMS TO GOVERNMENTS, NONPROFITS, LENDERS AND OTHER STAKEHOLDERS. IPC STAFF ALSO PROVIDE ADVICE TO DEVELOPERS AND COMMERCIAL BUILDING OWNERS ON HOW TO OBTAIN FUNDING AND STRUCTURE FINANCING FOR RENEWABLE ENERGY AND ENERGY EFFICIENCY PROJECTS. ONE SUCH PROGRAM IS THE SMART-E LOAN PROGRAM, WHICH PROVIDES A LOW COST, LONG TERM LOAN OPTION TO SINGLE FAMILY HOMEOWNERS FOR ENERGY UPGRADES THROUGH A NETWORK OF LOCAL LENDERS THAT ARE GIVEN ACCESS TO A CREDIT ENHANCEMENT (IF REQUIRED) IN EXCHANGE FOR OFFERING THE PRODUCT. THE PROGRAM USES ESTABLISHED PRE-APPROVED CONTRACTORS TO INSTALL THESE ENERGY UPGRADES TO REDUCE THE BUILDING OWNER'S ENERGY BURDEN. IPC MAY EITHER ADMINISTER THIS PROGRAM ON BEHALF OF A PROGRAM SPONSOR OR PROVIDE CERTAIN SERVICES, INCLUDING THE STANDARDIZED PROGRAMMATIC APPROACH, PROTOCOLS, MARKETING AND TECHNOLOGY. CREDIT ENHANCEMENTS TYPICALLY COMPRISE INTEREST RATE BUYDOWNS AND LOAN LOSS RESERVES MAINTAINED BY THE SPONSOR TO SUPPORT LENDER PROGRAM LOANS. IPC ADMINISTERS THIS PROGRAM FOR THE CONNECTICUT GREEN BANK, THE PROGRAM SPONSOR. THE PROGRAM IS USED TO FINANCE OVER FORTY QUALIFYING ENERGY IMPROVEMENTS AT OWNER-OCCUPIED, 1-4 UNIT RESIDENTIAL PROPERTIES IN CONNECTICUT UTILIZING 10 LOCAL LENDERS (COMMUNITY BANKS AND CREDIT UNIONS) AND A NETWORK OF OVER 350 ELIGIBLE CONTRACTORS. 1665759 1035368 MULTIFAMILY AND NONPROFIT LOAN PROGRAM - THIS PROGRAM PROVIDES FINANCING, CREDIT ENHANCEMENTS, AND TECHNICAL ASSISTANCE FOR LOANS AND GRANTS MADE TO OWNERS OF MULTIFAMILY BUILDINGS FOR ENERGY UPGRADES, SINGLE FAMILY LENDING AND COMMERCIAL AND INFRASTRUCTURE LENDING. 817776 0 SOLAR FOR ALL PROGRAM FUNDED THROUGH THE FEDERAL ENVIRONMENTAL PROTECTION AGENCY. 817776 0 8231490 1 1 0 0 0 0 0 0 0 0 1 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 1 X 30 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 1 0 X MARK DEBONEE 2034335060 75 CHARTER OAK AVENUE 1-200 HARTFORD CT 06106 ELIZABETH CRUM CHAIRPERSON (THROUGH 6/27/24) 1.00 X 0 0 0 DOUGLASS SIMS DIRECTOR 1.00 X 0 0 0 ROBERTO HUNTER DIRECTOR 1.00 X 0 0 0 JOSEPH EVANS DIRECTOR 1.00 X 0 0 0 KERRY O'NEILL CHIEF EXECUTIVE OFFICER 40.00 X X 315197 0 73351 MARK A DEBONEE CHIEF FINANCIAL OFFICER 40.00 X 190228 0 37947 MUSA COLLIDGE-ASAD CHIEF INVESTMENT OFFICER 40.00 X 240777 0 17615 MICHELE I KUNITZ GENERAL COUNSEL/SECRETARY 40.00 X 217970 0 17205 JAMES MCINTYRE CHIEF STRATEGY OFFICER 40.00 X 230486 0 42331 JOHN D'AGOSTINO MANAGING DIRECTOR, CLEAN ENERGY 40.00 X 196255 0 41751 CARMEN CARSON CHIEF PEOPLE OFFICER 40.00 X 183461 0 12524 MELINDA MASON COUNSEL 40.00 X 112190 0 17942 MADELINE GEARING NATIONAL DIRECTOR, SMART-E 40.00 X 146542 0 34258 DAVID RYAN ASSOC DIR CLEAN ENERGY 40.00 X 144215 0 21872 BRIAN LIECHTI SR MGR MARKET ENGAGEMENT 40.00 X 121070 0 26936 MAZAHIR BOOTWALA MANAGER, CLEAN ENERGY 40.00 X 112550 0 26856 2210941 0 370588 12 0 1 0 ENERWEALTH SOLUTIONS LLC 104 COURT STREET OXFORD NC 27565 CONSULTING 825955 DIGITAL EQUITY PARTNERS LLC 75 BAY WALK SEAVIEW NY 11770 CONSULTING 389428 EMERALD CONSULTING LLC 760 HOPMEADOW STREET SUITE 214 SIMSBURY CT 06070 CONSULTING 161900 RANGE RENEWABLE ADVISORS 42 RANDOLPH PLACE NW WASHINGTON DC 20001 CONSULTING 101030 4 817776 6002500 6820276 CONSULTING SERVICES 900003 1912989 1912989 PROGRAM INTEREST 900003 1030039 1030039 POWER PURCHASE AGREEMENTS 900003 704540 704540 SOLAR RENEWABLE ENERGY CERTIFICAT 900003 290059 290059 LOAN ORIGINATION FEES 900003 5329 5329 9434 9434 3952390 38911 38911 10811577 3942956 0 48345 1461825 1156304 239739 65782 1952907 1544749 320277 87881 185780 146952 30468 8360 453089 358393 74307 20389 249428 197298 40906 11224 207768 207768 169363 123732 45631 848762 848762 101584 71109 30475 400727 400727 250150 114117 106744 29289 107126 84736 17569 4821 39330 31110 6450 1770 1324304 1031441 292863 537472 521342 16130 226708 179326 37180 10202 PROGRAM DEVELOPMENT AND 1228316 1228316 ACCRETION 33520 33520 PROVISION FOR CREDIT LO -81225 -81225 127585 104122 23463 9824519 8231490 1322836 270193 6129539 10795323 285000 92195 866374 717147 90491 163092 17169077 1545017 14709495 15624060 14699520 11705365 135362 107098 36915781 39204280 1235678 1119373 64491 42253 33201326 34372030 1045972 1395779 35547467 36929435 X 603795 -1822654 764519 4097499 1368314 2274845 36915781 39204280 X 987058 -80527 X X 0 1 X 1 1 1 X 996325 295000 365576 1210660 3820276 6687837 996325 295000 365576 1210660 3820276 6687837 3057102 3630735 207669 78309 126613 522298 38911 973800 7661637 12651027 0.47390 0.41970 X SCHEDULE A, PART VI, LIST OF UNUSUAL GRANTS: DESCRIPTION: GRANT TO SUPPORT CHARITABLE PROGRAM EXPENSES AMOUNT: 3000000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 17169077 1545017 15624060 15624060 ENERGIZE CT HEALTH & SAFETY PROGRAM LOANS 1211253 C MULTIFAMILY AND NONPROFIT PROGRAM LOANS 2543760 C CATALYST NONPROFIT PROGRAM LOANS 518382 C INFRASTRUCTURE PROJECT FINANCE LOANS 1815152 C TAX CREDIT BRIDGE PROGRAM LOANS 761456 C SOLAR PROJECT FINANCE LOANS 4834362 C ELEVATE CONTRACTOR LINE OF CREDIT PROGRAM 21000 C 11705365 OTHER CURRENT LIABILITIES 18871 ASSET RETIREMENT OBLIGATION 1148371 OFFICE LEASE LIABILITY 228537 1395779 10811577 0 10811577 0 10811577 9824519 0 9824519 0 9824519 X X 0 0 0 0 0 0 0 1 0 KERRY O'NEILL CHIEF EXECUTIVE OFFICER 315197 0 0 0 0 0 19419 0 53932 0 388548 0 0 0 JAMES MCINTYRE CHIEF STRATEGY OFFICER 230486 0 0 0 0 0 14663 0 27668 0 272817 0 0 0 MUSA COLLIDGE-ASAD CHIEF INVESTMENT OFFICER 240777 0 0 0 0 0 14447 0 3168 0 258392 0 0 0 JOHN D'AGOSTINO MANAGING DIRECTOR, CLEAN ENERGY 196255 0 0 0 0 0 12118 0 29633 0 238006 0 0 0 MICHELE I KUNITZ GENERAL COUNSEL/SECRETARY 217970 0 0 0 0 0 13098 0 4107 0 235175 0 0 0 MARK A DEBONEE CHIEF FINANCIAL OFFICER 190228 0 0 0 0 0 11981 0 25966 0 228175 0 0 0 CARMEN CARSON CHIEF PEOPLE OFFICER 183461 0 0 0 0 0 11008 0 1516 0 195985 0 0 0 MADELINE GEARING NATIONAL DIRECTOR, SMART-E 146542 0 0 0 0 0 18109 0 16149 0 180800 0 0 0 DAVID RYAN ASSOC DIR CLEAN ENERGY 144215 0 0 0 0 0 8753 0 13119 0 166087 0 0 0 ROBERTO HUNTER MEMBER OF BOARD OF DIRECTORS 1292462 THE ORGANIZATION IS A BORROWER OF TERM, CONSTRUCTION AND WORKING CAPITAL LOANS WHERE CONNECTICUT GREEN BANK (CGB) IS LENDER, AND ADVANCED FUNDS DURING THE YEAR. 0 ROBERTO HUNTER MEMBER OF BOARD OF DIRECTORS 822169 THE ORGANIZATION PROVIDED CONSULTING SERVICES TO ADMINISTER PROGRAMS OF THE CONNECTICUT GREEN BANK (CGB). MR. HUNTER IS THE EXECUTIVE VICE PRESIDENT AND CHIEF INVESTMENT OFFICER OF CGB. 0 FORM 990, PART V, LINE 2A INCLUSIVE PROSPERITY CAPITAL USES PROFESSIONAL EMPLOYER ORGANIZATION SERVICES TO PERFORM WITHHOLDING, REPORTING AND PAYMENT FUNCTIONS AND THEREFORE INCLUSIVE PROSPERITY CAPITAL DOES NOT ISSUE A W-3. EMPLOYEES ARE TREATED AS COMMON LAW EMPLOYEES FOR THE PURPOSES OF FORM 990, PART VII AND PART IX. FORM 990, PART VI, SECTION B, LINE 11B DRAFT 990 IS REVIEWED BY CHIEF FINANCIAL OFFICER, FOCUSING ON NUMERICAL DATA. THE 990 IS ALSO REVIEWED BY THE CEO AND CHIEF INVESTMENT OFFICER. AFTER STAFF REVIEW, THE 990 IS REVIEWED BY THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CFO DISTRIBUTES THE CONFLICT OF INTEREST POLICY ANNUALLY, REQUESTING WRITTEN ACKNOWLEDGEMENT. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS OF DETERMINING THE COMPENSATION FOR THE ORGANIZATION'S CEO AND MANAGEMENT TEAM ALONG WITH THE ORGANIZATION'S OTHER EMPLOYEES IS DONE ANNUALLY IN CONJUNCTION WITH THE PREPARATION OF THE ORGANIZATION'S ANNUAL OPERATING BUDGET. THIS PROCESS INCLUDES SETTING MERIT INCREASES FOR EXISTING EMPLOYEES, PROMOTIONS FOR EXISTING EMPLOYEES AND PROPOSED COMPENSATION FOR NEW HIRES AS THE NEED ARISES. THE ORGANIZATION BASES ITS JOB TITLES, CAREER LADDERS AND COMPENSATION RANGES FOR JOB TITLES BASED ON A STUDY CONDUCTED BY AN INDEPENDENT CONSULTING FIRM. THE ORGANIZATION'S BOARD REVIEWS THE PROPOSED COMPENSATION FOR THE UPCOMING YEAR AND VOTES TO ADOPT THE PROPOSED COMPENSATION WHICH IS MEMORIALIZED IN THE MINUTES TO THE BOARD MEETING FORM 990, PART VI, SECTION C, LINE 18 THESE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE CFO DISTRIBUTES THE CONFLICT OF INTEREST POLICY ANNUALLY, REQUESTING WRITTEN ACKNOWLEDGEMENT. FORM 990, PART XI, LINE 9: MEMBER DISTRIBUTIONS -80,527. FORM 990, PART XII, LINE 2C THE PROCESS DID NOT CHANGE FROM PRIOR YEAR. INCLUSIVE FUND I LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 844215034 NYGB CREDIT FACILITY-SPE (BORROWER UNDER NYGB CREDIT FACILITY) DE 0 5656361 INCLUSIVE CAPITAL COMPANY I LLC INCLUSIVE CONSULTING SERVICES LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 301285938 SPE FORMED AS COUNTERPARTY OF VAR AGREEMENTS PROVIDING CONSULTING SERVICES CT 2373296 7822607 INCLUSIVE PROSPERITY CAPITAL INC INCLUSIVE LENDING LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 851310058 TO MAKE COMMERCIAL LOANS IN STATE OF CA DE 0 24484 IPC HOLDING AB LLC INCLUSIVE CAPITAL COMPANY I LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 843898044 NYGB CREDIT FACILITY - SPE (PLEDGOR UNDER NYGB CREDIT FACILITY) DE 0 1608124 INCLUSIVE PROSPERITY CAPITAL INC INCLUSIVE INFRASTRUCTURE FINANCE I LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 844308000 NYGB CREDIT FACILITY - SPE (PLEDGOR UNDER NYGB CREDIT FACILITY) DE 120102 1103736 INCLUSIVE FUND I LLC INCLUSIVE LENDING AB LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 882816697 TO MAKE COMMERCIAL LOANS DE 641416 10386893 IPC HOLDING AB LLC IPC HOLDING AB LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 882831597 TO MAKE COMMERCIAL LOANS DE 0 0 IPC LENDER LLC IPC LENDER LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 882997226 TO MAKE COMMERCIAL LOANS DE 221989 3472518 INCLUSIVE PROSPERITY CAPITAL INC IPC SOLAR LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 934089185 CONSTRUCTING AND OWNING SOLAR ASSETS DE 0 0 INCLUSIVE PROSPERITY CAPITAL INC (CT) INCLUSIVE SOLAR CT LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 934435152 CONSTRUCTING AND OWNING SOLAR ASSETS DE 92533 3421452 IPC SOLAR HOLDING LLC IPC SOLAR DEVELOPMENT LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 934132324 CONSTRUCTING AND OWNING SOLAR ASSETS DE 0 0 IPC SOLAR LLC IPC SOLAR ILLINOIS LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 934105279 CONSTRUCTING AND OWNING SOLAR ASSETS DE 0 0 INCLUSIVE SOLAR DEVELOPMENT LLC INCLUSIVE WARREN COUNTY YMCA SOLAR LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 934146315 CONSTRUCTING AND OWNING SOLAR ASSETS DE 0 601190 IPC SOLAR ILLINOIS IPC SOLAR HOLDINGS LLC 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 994641220 CONSTRUCTING AND OWNING SOLAR ASSETS DE 0 0 IPC SOLAR LLC SUSTAINABLE UNDERWRITING FOR RESILIENCE AND EFFICIENCY LLC (SURE) 75 CHARTER OAK AVE SUITE 1-200 HARTFORD CT 06106 332074573 TO PROVIDE CONSULTING SERVICES DE 0 0 INCLUSIVE PROSPERITY CAPITAL INC