TY 2024 Form 990

- TIN:

SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
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Attach to Form 990 or Form 990-EZ.
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Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public
Inspection

Name of the organization

IMPACT INVESTING CHARITABLE TRUST

Employer identification number

81-2375745

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990).)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:

An organization that normally receives: (1) more than 33 1/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 33 1/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box on lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations ...............................1

Provide the following information about the supported organization(s).

(i) Name of supported organization	(ii) EIN	(iii) Type of organization (described on lines 1- 10 above (see instructions))	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i) Name of supported organization	(ii) EIN		Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(A) IMPACT INVESTING CHARITABLE FOUNDATION INC	473574130	7	Yes		30,190,027	16,912,936

Total 1					30,190,027	16,912,936

For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.

Cat. No. 11285F

Schedule A (Form 990) 2024

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) ..
6	Public support. Subtract line 5 from line 4.

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
7	Amounts from line 4..
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...
9	Net income from unrelated business activities, whether or not the business is regularly carried on..
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..
11	Total support. Add lines 7 through 10

Gross receipts from related activities, etc. (see instructions) ..................

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2024 (line 6, column (f) divided by line 11, column (f)) .........

Public support percentage for 2023 Schedule A, Part II, line 14 ...............

16a

33 1/3% support test—2024. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2023. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2024. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990) 2024

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose
3	Gross receipts from activities that are not an unrelated trade or business under section 513 .....
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge
6	Total. Add lines 1 through 5
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.
c	Add lines 7a and 7b..
8	Public support. (Subtract line 7c from line 6.)

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
9	Amounts from line 6...
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c	Add lines 10a and 10b.
11	Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2024 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2023 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2024 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2023 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests-2024. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3 % support tests—2023. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990) 2024

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Yes

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Yes

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Schedule A (Form 990) 2024

Page 5

Part IV

Supporting Organizations (continued)

Yes

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?

11a

A family member of a person described on 11a above?

11b

A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.

11c

Section B. Type I Supporting Organizations

Yes

Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Yes

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer lines 2a and 2b below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer lines 3a and 3b below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.

Schedule A (Form 990) 2024

Page 6

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by 0.035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6

Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990) 2024

Page 7

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes	1
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity	2
3 Administrative expenses paid to accomplish exempt purposes of supported organizations	3
4 Amounts paid to acquire exempt-use assets	4
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI)	5
6 Other distributions (describe in Part VI). See instructions	6
7Total annual distributions. Add lines 1 through 6.	7
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions	8
9 Distributable amount for 2024 from Section C, line 6	9
10 Line 8 amount divided by Line 9 amount	10

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2024	(iii) Distributable Amount for 2024
1 Distributable amount for 2024 from Section C, line 6
2 Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI). See instructions.
3 Excess distributions carryover, if any, to 2024:
a From 2019.......
b From 2020.......
c From 2021.......
d From 2022.......
e From 2023.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2024 distributable amount
i Carryover from 2019 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.
4Distributions for 2024 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2024 distributable amount
c Remainder. Subtract lines 4a and 4b from line 4.
5 Remaining underdistributions for years prior to 2024, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions.
6 Remaining underdistributions for 2024. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions.
7 Excess distributions carryover to 2025. Add lines 3j and 4c.
8 Breakdown of line 7:
a Excess from 2020.....
b Excess from 2021.....
c Excess from 2022.....
d Excess from 2023.....
e Excess from 2024.....

Schedule A (Form 990) (2024)

Schedule A (Form 990) 2024

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation
PART I, LINE 12G, COLUMN VI	THE ORGANIZATION'S PROGRAM SERVICE ACTIVITIES SUPPORT ITS SUPPORTED ORGANIZATION, IMPACT INVESTING CHARITABLE FOUNDATION.
PART IV, LINE 6	SEE SCHEDULE I PAGE ONE FOR OTHER GRANT INFORMATION.

Schedule A (Form 990) 2024

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

Name of the organization

IMPACT INVESTING CHARITABLE TRUST

Employer identification number

81-2375745

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025) Page 2

Name of organization IMPACT INVESTING CHARITABLE TRUST

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 3

Name of organization IMPACT INVESTING CHARITABLE TRUST		Employer identification number 81-2375745

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 4


Name of organization IMPACT INVESTING CHARITABLE TRUST			Employer identification number 81-2375745
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow

Attach to Form 990.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

IMPACT INVESTING CHARITABLE TRUST

Employer identification number

81-2375745

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds
1	Total number at end of year .........	943
2	Aggregate value of contributions to (during year)	156,428,484
3	Aggregate value of grants from (during year)	33,042,936
4	Aggregate value at end of year ........	429,893,682

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow

Number of states where property subject to conservation easement is located right arrow

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... right arrow

(ii)

Assets included in Form 990, Part X ............................... right arrow

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... right arrow

Assets included in Form 990, Part X ............................... right arrow

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) (Rev. 1-2025)

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment right arrow

Permanent endowment right arrow

Term endowment right arrow

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .................

3a(i)

(ii) Related organizations .................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....	75,606		75,606
b	Buildings ....	428,437	109,056	319,381
c	Leasehold improvements
d	Equipment ....
e	Other .....
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				394,987

Schedule D (Form 990) (Rev. 1-2025)

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3) Other (A) ALLOWANCE FOR INVESTMENT DECREASE IN VALUE	-1,229,500	F
(B) INVESTMENT IN SAPPHIRE HOMES, INC	3,000,000	C
(C) INVESTMENT IN SOVEREIGN'S FIRE SERVICES, LP	14,578,999	F
(D) INVESTMENT IN HIGHMOUNT DP SPV, LLC	131,251	F
(E) INVESTMENT IN WOLF MEND PICTURE, LLC	81,480	C
(F) INVESTMENT IN GRAVYSTACK, INC.	450,000	C
(G) INVESTMENT IN 11 TRIBES FUND I, LP:CAPITAL	128,510	F
(H) INVESTMENT IN 13TWENTYTHREE LLC	500,000	C
(I) INVESTMENT IN 1FLOURISH VENTURES II, LP	3,750	C
(J) INVESTMENT IN 1K1V	4,449,776	F
(K) INVESTMENT IN 3:10 CAPITAL FUND X, LLC	250,000	C
(L) INVESTMENT IN 3:10 CAPITAL WAVE FUND IX, LLC	250,000	C
(M) INVESTMENT IN 3S INVESTCO	161,000	C
(N) INVESTMENT IN 801 NORTH 16TH AVENUE LLC	50,000	C
(O) INVESTMENT IN A SPECIAL DREAM	500,000	C
(P) INVESTMENT IN AARON ENTERTAINMENT HOLDINGS LLC	1,500,000	C
(Q) INVESTMENT IN ABOUND CAPITAL VENTURE DEBT FUND I LP	32,680	F
(R) INVESTMENT IN ACHIEVE PARTNERS WORKFORCE FUND I LP	165,509	F
(S) INVESTMENT IN ACRE HOME OWNERSHIP FUND LP	99,259	F
(T) INVESTMENT IN ADAPTIC HEALTH INC	75,000	C
(U) INVESTMENT IN AEGEAN LLC	100,907	C
(V) INVESTMENT IN AI SOFTWARE LLC	3,550,000	C
(W) INVESTMENT IN AMBASSADOR DEVELOPMENT GROUP	225,000	C
(X) INVESTMENT IN ANDREW ARROYO REAL ESTATE INC	200,000	C
(Y) INVESTMENT IN ARCHANGEL IMPACT 1 PTE, LTD.	31,020	F
(Z) INVESTMENT IN ASCENSION ALPHA FUND IV, LLC	257,386	F
(AA) INVESTMENT IN ASCENSION ALPHA FUND, LLC:CAPITAL	612,045	F
(AB) INVESTMENT IN ASTRUMUU INC	50,000	C
(AC) INVESTMENT IN AVODAH INC	1,386,986	C
(AD) INVESTMENT IN AXIA HOLDING COMPANY	100,000	C
(AE) INVESTMENT IN AXIA HOLDING COMPANY OF THE TRIANGLE	150,000	C
(AF) INVESTMENT IN BANIJAY RIGHTS	3,000,000	C
(AG) INVESTMENT IN BARTON SPRING MUSIC LLC	1	C
(AH) INVESTMENT IN BATTEL PARTNERS	25,000	C
(AI) INVESTMENT IN BESPOKE INDUSTRIAL INCOME PLUS FUND I LP CAPITAL	208,712	F
(AJ) INVESTMENT IN BESPOKE INDUSTRIAL INCOME PLUS FUND II LP	103,788	F
(AK) INVESTMENT IN BIRDDOG ADVENTURES, INC	15,000	C
(AL) INVESTMENT IN BISON CAPITAL GROUP (BCG) AVENTURA II LLC	100,000	F
(AM) INVESTMENT IN BOS MARKETING LLC	200,000	C
(AN) INVESTMENT IN BOURNE SENIORS HOUSING VI, LLC:CAPITAL	80,000	F
(AO) INVESTMENT IN BOWEN CHARLOTTE HOLDINGS INC	664,000	C
(AP) INVESTMENT IN BRAINSPACE INC	75,000	C
(AQ) INVESTMENT IN BROWN RUDNICK, LLP	1,462,900	C
(AR) INVESTMENT IN BUSINESS BIBLE, LLC	100,000	C
(AS) INVESTMENT IN CABAIRE LLC	50,000	C
(AT) INVESTMENT IN CABAIRE, LLC	100,002	C
(AU) INVESTMENT IN CADENCE GROUP PLATFORM LLC - SERIES 120	29,642	F
(AV) INVESTMENT IN CASPIAN SEA HOLDCO LLC	255,724	F
(AW) INVESTMENT IN CAV-EVRNU, LLC	50,000	C
(AX) INVESTMENT IN CAZ GP OWNERSHIP FUND, LP	635,822	F
(AY) INVESTMENT IN CCRC OF LEES SUMMIT LLC	320,000	F
(AZ) INVESTMENT IN CEDAR RIDGE CS LLC	100,000	F
(BA) INVESTMENT IN CEPHAS LEGAL FINANCE I LP	86,475	F
(BB) INVESTMENT IN CG INVESTMENT PARTNERS, LP	127,500	C
(BC) INVESTMENT IN CHOOSE SA	50,000	C
(BD) INVESTMENT IN CLOUDFACTORY HOLDINGS LIMITED	108,508	C
(BE) INVESTMENT IN COMMISSIONED LLC	100,000	C
(BF) INVESTMENT IN COMMON CLAY PICTURES, LLC	725,000	C
(BG) INVESTMENT IN CONVERGINT TECHNOLOGIES GROUP L.P.	20,202,023	C
(BH) INVESTMENT IN CORNELIUS FILMS, LLC	183,781	C
(BI) INVESTMENT IN CO-TRIBUTE (A)	150,000	C
(BJ) INVESTMENT IN CREATION IMPACT CREDIT FUND (INDIA) II	362,944	F
(BK) INVESTMENT IN CREATION IMPACT CREDIT FUND (INDIA), LP:CAPITAL	408,461	F
(BL) INVESTMENT IN CREATION INVESTMENTS SOCIAL VENTURES	2,963,286	F
(BM) INVESTMENT IN CS ASQ INVESTORS LLC	25,000	C
(BN) INVESTMENT IN CSE CREDIT TENANT FUND III, LLC:CAPITAL	286,085	F
(BO) INVESTMENT IN CWV-CH I LLC	1,150,000	C
(BP) INVESTMENT IN DAST INVESTMENTS, LLC	702,626	F
(BQ) INVESTMENT IN DCG KAMMOK GROWTH INVESTMENT LLC	100,000	C
(BR) INVESTMENT IN DEAD SEA SQUIRRELS	1,400,000	C
(BS) INVESTMENT IN DELTA V VENTURES LLC	250,000	F
(BT) INVESTMENT IN DLP HOUSING FUND LLC	500,000	F
(BU) INVESTMENT IN DLP LENDING FUND LLC	500,000	F
(BV) INVESTMENT IN DO NO HARM MOVIE LP	125,000	C
(BW) INVESTMENT IN DUTCH NATURE RENKUM BV	138,280	C
(BX) INVESTMENT IN EA TECH PACKAGE I LLC	20,000	C
(BY) INVESTMENT IN EAGLE FREEDOM FUND LP	1,168,330	F
(BZ) INVESTMENT IN EAGLE VENTURE FUND II LP CAPITAL	208,101	F
(CA) INVESTMENT IN EAST CHATHAM LLC	350,000	C
(CB) INVESTMENT IN ELEMENT CONSTRUCTION LLC	301,116	C
(CC) INVESTMENT IN ELEVATION REAL PROPERTY FUND VII, LLC:CAPITAL	1,511,445	C
(CD) INVESTMENT IN EQUI SPECIAL OPPORTUNITIES FUND I LP	1,377,047	F
(CE) INVESTMENT IN ES 1930 MILITARY RD, LLC	200,000	C
(CF) INVESTMENT IN EVENTIDE HEALTHCARE INNOVATION FUND I LP	282,659	F
(CG) INVESTMENT IN EVERSEAL COATINGS LLC	671,184	C
(CH) INVESTMENT IN EVERSOURCE WEALTH ADVISORS, LLC	400,000	C
(CI) INVESTMENT IN EXCELERATION STUDIO, LLC	250,000	C
(CJ) INVESTMENT IN FAITH BEYOND DOUBT	48,500	C
(CK) INVESTMENT IN FAMILYWISE DIGITAL INC	129,500	C
(CL) INVESTMENT IN FARWEST INVESTOR	230,000	C
(CM) INVESTMENT IN FELIX'S RESTAURANT GROUP FINANCE CORP LLC	3,440,000	C
(CN) INVESTMENT IN FINGO HOLDINGS INC	65,000	C
(CO) INVESTMENT IN FIREROAD VENTURES I LLC	92,339	F
(CP) INVESTMENT IN FIRST & TEN PRODUCTIONS LLC	163,605	C
(CQ) INVESTMENT IN FIRST LAUNCH DALLAS LLC	250,000	F
(CR) INVESTMENT IN FORTIS GREEN RENEWABLES GREEN FUND I, LLC	200,000	C
(CS) INVESTMENT IN FRDM INC.	151,144	C
(CT) INVESTMENT IN FULL TABLE PRODUCTIONS, INC	200,000	C
(CU) INVESTMENT IN FUND I A SERIES OF MANAS ECOSYSTEMS FUND LLC	43,502	F
(CV) INVESTMENT IN G2.COM, INC.	976,910	C
(CW) INVESTMENT IN GARDEN CITY COMPANIES, LLC:CAPITAL	1,305,300	F
(CX) INVESTMENT IN GIRLS FIRST FINANCE LLC	50,000	C
(CY) INVESTMENT IN GLOO HOLDINGS LLC	6,288,081	C
(CZ) INVESTMENT IN GOBEBA, INC	100,000	C
(DA) INVESTMENT IN GOBENA LLC	521,005	C
(DB) INVESTMENT IN GOBIQUITY	100,000	C
(DC) INVESTMENT IN GOOD SPACE UK, LLC	50,000	C
(DD) INVESTMENT IN GREATER GOOD REAL ESTATE INC	1,051,222	C
(DE) INVESTMENT IN GROOVE CAPITAL FUND I, LP:CAPITAL	102,300	F
(DF) INVESTMENT IN GROOVE CAPITAL FUND II, LP	288,687	F
(DG) INVESTMENT IN GTMFUND II LP	40,000	F
(DH) INVESTMENT IN HARDEN APARTMENT OWNERS LLC	175,000	C
(DI) INVESTMENT IN HAYDEN HARPER HOLDINGS LLC	247,000	C
(DJ) INVESTMENT IN HC HUMBLE HOLDCO 1, LLC	100,000	C
(DK) INVESTMENT IN HIBM HER INESCAPABLE BRAVE MISSION LLC	150,000	C
(DL) INVESTMENT IN HYBRID SOCIAL SOLUTIONS	350,000	C
(DM) INVESTMENT IN I-CALQ CORP	50,000	C
(DN) INVESTMENT IN IMMERSE INC	175,000	C
(DO) INVESTMENT IN INNATE GUIDANCE SYSTEMS LLC	350,000	C
(DP) INVESTMENT IN IONIAN, LLC	235,000	C
(DQ) INVESTMENT IN IPIG PTY LTD	97,000	C
(DR) INVESTMENT IN JADA INVESTMENT FUND 1, LLC	250,000	C
(DS) INVESTMENT IN JANUS HEALTHCARE PARTNERS INC	80,000	C
(DT) INVESTMENT IN JUST IN TIME PROPERTIES LLC	100,000	C
(DU) INVESTMENT IN KALEO VENTURES FUND I, LP	89,315	F
(DV) INVESTMENT IN KALEO VENTURES FUND II, LP	102,121	F
(DW) INVESTMENT IN KARIS MANAGEMENT GROUP LLC	3,430,082	C
(DX) INVESTMENT IN KINGSTONE MEDIA GROUP, INC	250,000	C
(DY) INVESTMENT IN KISH BANCORP, INC	100,000	C
(DZ) INVESTMENT IN KORAH FUNDS LLC	50,000	F
(EA) INVESTMENT IN LCP SPOKANE MONTGOMERY LLC	100,000	F
(EB) INVESTMENT IN LIFESONG IMPACT LLC	219	C
(EC) INVESTMENT IN LIGHTNINGBOLT MINING MACHINES INC	175,000	C
(ED) INVESTMENT IN LIV DEVELOPMENT FUND I LP	1,000,000	F
(EE) INVESTMENT IN LIVFUL	75,000	C
(EF) INVESTMENT IN LONG RUN CAPITAL II LP	156,554	F
(EG) INVESTMENT IN LOOR.TV INC	100,000	C
(EH) INVESTMENT IN LORIENT PHEONIX INVESTMENT, LP	1,850,796	F
(EI) INVESTMENT IN LVF HOLDINGS LLC	400,000	C
(EJ) INVESTMENT IN MAN ALONE LLC	75,000	C
(EK) INVESTMENT IN MARRIAGE SCORE LLC	1,210,000	C
(EL) INVESTMENT IN MARTIN BIONICS INNOVATIONS LLC	300,000	C
(EM) INVESTMENT IN MARY FILM, LLC	4,000,000	C
(EN) INVESTMENT IN MEDIAE GROUP INC	950,000	C
(EO) INVESTMENT IN MHPI VII LLC	69,680	F
(EP) INVESTMENT IN MISSION 3A	423,500	C
(EQ) INVESTMENT IN MLG PRIVATE FUND IV LLC	112,109	F
(ER) INVESTMENT IN MLG PRIVATE FUND V LLC	183,189	F
(ES) INVESTMENT IN MOODY NATIONAL FINANCIAL FUND II, LLC:CAPITAL	100,000	F
(ET) INVESTMENT IN MOUNTAINTOP MEDIA LLC	150,000	C
(EU) INVESTMENT IN MULLER MOVIE	653,500	C
(EV) INVESTMENT IN NAHF LLC	870,000	F
(EW) INVESTMENT IN NARTHEX IMPACT FUND LLC	142,572	C
(EX) INVESTMENT IN NAVITAS WEST TEXAS INVESTMENTS SPV LLC	799,332	F
(EY) INVESTMENT IN NELDERGROVE LLC	200,000	C
(EZ) INVESTMENT IN NETSPARK LTD	250,000	C
(FA) INVESTMENT IN NEW FOUNDING VENTURE FUND, LP	25,000	C
(FB) INVESTMENT IN NOBLE STORY CO. LLC	58,911	C
(FC) INVESTMENT IN NOBLE STORY I EB	25,000	C
(FD) INVESTMENT IN NORTH AVENUE CAPITAL LLC	33,290	C
(FE) INVESTMENT IN NOVO INSPIRE MEDIA FUND, LLC	750,000	C
(FF) INVESTMENT IN O2 SCIENCE LTD.	886,628	C
(FG) INVESTMENT IN OPO COFFEE CORP	230,000	C
(FH) INVESTMENT IN OWP PHARMACEUTICALS, INC.	200,000	C
(FI) INVESTMENT IN PALINGEN HOLDINGS	315,025	F
(FJ) INVESTMENT IN PALLET SPC	127,014	C
(FK) INVESTMENT IN PALLET SPC SERIES 2	25,000	C
(FL) INVESTMENT IN PANGEA TECHNOLOGIES, INC.	108,416	C
(FM) INVESTMENT IN PARK LANE HOLDINGS, LLC	360,000	C
(FN) INVESTMENT IN PATIENT SORTAL, INC	25,000	C
(FO) INVESTMENT IN PATTERNS OF EVIDENCE	197,000	C
(FP) INVESTMENT IN PE PARTNERS INC	544,000	C
(FQ) INVESTMENT IN PEREGRINE TURBINE TECHNOLOGIES, LLC	300,000	C
(FR) INVESTMENT IN PF 504, LLC	108,659	F
(FS) INVESTMENT IN PHASE ENTERPRISES LLC	28,186	C
(FT) INVESTMENT IN PHASE PARTNERS, LLC	6,814	C
(FU) INVESTMENT IN PLEASE ASSIST ME, INC	140,000	C
(FV) INVESTMENT IN POSSUM TROT FILM LLC	13,929,718	C
(FW) INVESTMENT IN PSCF01 LLC	200,000	F
(FX) INVESTMENT IN PTI TECHNOVATIONS LLC	500,000	C
(FY) INVESTMENT IN PURIM AQUA II, LLC	80,000	C
(FZ) INVESTMENT IN QUANTUM STAR TECHNOLOGIES INC	50,000	C
(GA) INVESTMENT IN RAWHIDE RELEASING, LLC	830,804	C
(GB) INVESTMENT IN RD REAL ESTATE DEBT FUND II LP	121,823	F
(GC) INVESTMENT IN RDG CAPITAL FUND 2 LP	450,000	F
(GD) INVESTMENT IN RENEW CAPITAL FUND 1 LLC	40,000	C
(GE) INVESTMENT IN RENEW CAPITAL LLC	10,000	C
(GF) INVESTMENT IN RENEW PAVEMENT SOLUTIONS LLC	115,041	C
(GG) INVESTMENT IN RENEW VENTURE LAB FUND 2 LLC	100,278	F
(GH) INVESTMENT IN RENEW VENTURE LAB FUND I LL	62,185	F
(GI) INVESTMENT IN RENT SONS INC (DBA SURV)	240,356	C
(GJ) INVESTMENT IN RENTAL IMPACT LLC	961,182	C
(GK) INVESTMENT IN REQUEST FOR MEETING INC	20,000	C
(GL) INVESTMENT IN RESERVE ENTERTAINMENT FUND I LLC	100,000	C
(GM) INVESTMENT IN RESTORATION 223, LLC	123,900	C
(GN) INVESTMENT IN REVELATION PHARMA	1,000,000	C
(GO) INVESTMENT IN RIVOTTO INC	1,050,000	C
(GP) INVESTMENT IN ROADZEN INC	95,307	C
(GQ) INVESTMENT IN ROOT STUDIO INC	125,000	C
(GR) INVESTMENT IN ROOTED STORIES FIND I, LP	500,000	F
(GS) INVESTMENT IN SACRIFICE UNDER FIRE, LLC	25,000	C
(GT) INVESTMENT IN SAFIRE TECHNOLOGY GROUP, INC	25,000	C
(GU) INVESTMENT IN SALT GROUP LTD.	290,760	C
(GV) INVESTMENT IN SALT INSURE, INC.	75,000	C
(GW) INVESTMENT IN SATURN FIVE ALPHA LLC	150,000	C
(GX) INVESTMENT IN SATURN FIVE FRONTIER I LLC	55,939	F
(GY) INVESTMENT IN SATURN FIVE, LLC	250,000	C
(GZ) INVESTMENT IN SILAS KPIC INTERNATIONAL INC	687,500	C
(HA) INVESTMENT IN SKELETON IGC LLC	250,000	C
(HB) INVESTMENT IN SLINGSHOT USA	1,300,000	C
(HC) INVESTMENT IN SLR MORRELL LP	100,000	F
(HD) INVESTMENT IN SOAAK TECHNOLOGIES	50,000	C
(HE) INVESTMENT IN SOLID ROCK CAPITAL, LLC:CAPITAL	50,000	F
(HF) INVESTMENT IN SOLOMONS FUND	85,000	C
(HG) INVESTMENT IN SOUTHWEST ENERGY	100,320	C
(HH) INVESTMENT IN SOVEREIGN CAPITAL II	1,687,683	F
(HI) INVESTMENT IN SOVEREIGNS CAPITAL ACCESS FUND I, LP:CAPITAL	20,935,408	F
(HJ) INVESTMENT IN SOVEREIGNS CAPITAL III	5,114,782	F
(HK) INVESTMENT IN SOVEREIGN'S CAPITAL LOWER MIDDLE MARKET FUND II	28,305,898	F
(HL) INVESTMENT IN SOVEREIGN'S CAPITAL OMEGA FUND (AI)	22,765,699	F
(HM) INVESTMENT IN SOVEREIGN'S CAPITAL REAL ESTATE FUND II	5,631,816	F
(HN) INVESTMENT IN SOVEREIGNS CAPITAL VENTURE IV LP	2,363,091	F
(HO) INVESTMENT IN SOVEREIGN'S FRINGE LP	160,000	C
(HP) INVESTMENT IN SOVEREIGN'S KINGDOM A LP	10,210,205	F
(HQ) INVESTMENT IN SPROUT STUDIO HOLDINGS, LLC	25,000	C
(HR) INVESTMENT IN SPROUT STUDIO, LLC	100,000	C
(HS) INVESTMENT IN STERLING LIGHT PRODUCTIONS INC	40,000	C
(HT) INVESTMENT IN STONEBRIDGE SENIOR, LLC	537,704	C
(HU) INVESTMENT IN SUBSPLIT SERVICES GROUP LP	2,532,065	F
(HV) INVESTMENT IN T2 LEGACY FUND LP	123,240	F
(HW) INVESTMENT IN TALITHA KOUM COFFEE ROASTERS INC	405,000	C
(HX) INVESTMENT IN TEAM PARACLETE INC	225,000	C
(HY) INVESTMENT IN TECHLESS, LLC	127,894	C
(HZ) INVESTMENT IN THE BFM FUND I, LLC	100,000	C
(IA) INVESTMENT IN THE BLIND HOLDINGS, LLC	3	C
(IB) INVESTMENT IN THE CAPRA PROJECT LLC	255,411	C
(IC) INVESTMENT IN THE DREAM KING MOVIE, LLC	1,270,000	C
(ID) INVESTMENT IN THE HOLY POST	75,000	C
(IE) INVESTMENT IN TRIBES VENTURES ACCESS FUND II LP	8,441	F
(IF) INVESTMENT IN TURNER DEVELOPMENT FUND 2	300,000	C
(IG) INVESTMENT IN UNLEASHED TECHNOLOGIES LTD	91,811	C
(IH) INVESTMENT IN UTOPIX MEDICAL LLC	1,100,000	C
(II) INVESTMENT IN VERACITY FORENSICS LLC	50,000	C
(IJ) INVESTMENT IN VERDANT DIPLOMATIC REAL ESTATE	2,987,423	C
(IK) INVESTMENT IN VERDANT FINTECH FUND LP	393,440	F
(IL) INVESTMENT IN VERDANT FRONTIER HOLDINGS	250,000	C
(IM) INVESTMENT IN VERDANT FRONTIER HOLDINGS	266,330	C
(IN) INVESTMENT IN VERDANT FRONTIER HOLDINGS	1,252,501	C
(IO) INVESTMENT IN VERDANT FRONTIERS FOUNDERS LLC	125,000	C
(IP) INVESTMENT IN VERDANT FRONTIERS, LLC	300,000	C
(IQ) INVESTMENT IN VERDANT ORCHARDS LLC	1,603,887	C
(IR) INVESTMENT IN VERDANT VENTURES LLC	2,024,250	C
(IS) INVESTMENT IN VEROSKILLS LLC	125,000	C
(IT) INVESTMENT IN VEROSKILLS LLC	50,000	C
(IU) INVESTMENT IN VOSSLER MEDIA GROUP INC	50,000	C
(IV) INVESTMENT IN VOSSLER MEDIA GROUP INC	450,000	C
(IW) INVESTMENT IN WDID, LLC	48,545	C
(IX) INVESTMENT IN WELDENFIELD REAL ESTATE BAM FUND I LP	2,140,162	C
(IY) INVESTMENT IN WESTMINSTER CD LLC	100,000	C
(IZ) INVESTMENT IN WILD BROTHERS PRODUCTIONS	150,000	C
(JA) INVESTMENT IN WINSOME TRUTH, INC.	428,405	C
(JB) INVESTMENT IN WITH TETHER INC.	205,000	C
(JC) INVESTMENT IN WORKPLACE HEALING LLC	90,000	C
(JD) INVESTMENT IN YODER LAVEGLIA LLP	50,000	C
(JE) INVESTMENT IN YOUTOPIA MARKETPLACE, LLC	1,034,950	C
(JF) INVESTMENT IN JOURNEY ONE LLC	100,000	C
(JG) INVESTMENT IN PHOTO UP	1,723,362	C
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	262,599,026

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1)INVESTMENT IN 1858 HWY 64 LLC	2,500,000	C
(2)INVESTMENT IN DONATE STOCK INC.	25,000	C
(3)INVESTMENT IN KEYSTONE INVESTING HOLDINGS LLC	52,949	C
(4)INVESTMENT IN ALPHA CHARITABLE LLC	55,586	C
(5)INVESTMENT IN ARBORETUM US HOLDINGS LLC	50,000	C
(6)INVESTMENT IN ASPIRE LEADERSHIP LLC	388,000	C
(7)INVESTMENT IN ATLAS ROCK LLC	281,000	C
(8)INVESTMENT IN AVENTON OKLAHOMA LLC	106,670	C
(9)INVESTMENT IN BAMBELOO LTD	25,000	C
(10)INVESTMENT IN BEANSTALK INC	26,034	C
(11)INVESTMENT IN BELIEVE FITNESS VENTURES LLC	75,000	C
(12)INVESTMENT IN BIBLINGO LLC	25,000	C
(13)INVESTMENT IN BICYCLETTE MOVIE, LLC	500,000	C
(14)INVESTMENT IN CALYAN WAX COMPANY LLC	150,000	C
(15)INVESTMENT IN CASCADE WELLNESS TECHNOLOGIES	95,000	C
(16)INVESTMENT IN CHERITH ANALYTICS LLC	33,439,682	C
(17)INVESTMENT IN CONNEXION MOROCCO, LLC	251,526	C
(18)INVESTMENT IN CORAL VITA INC	200,000	C
(19)INVESTMENT IN CULTIVATE RETREATS LLC	600,000	C
(20)INVESTMENT IN DATEIBLE LLC	50,000	C
(21)INVESTMENT IN DATEIBLE LLC	100,000	C
(22)INVESTMENT IN DECISIVE TURN BRON I LLC	200,000	C
(23)INVESTMENT IN DEUX MAINS DISTRIBUTION, LLC	575,000	C
(24)INVESTMENT IN DIGNITY PRODUCTS AND SERVICES, LLC	3,264,986	C
(25)INVESTMENT IN DONORSEE INC	100,000	C
(26)INVESTMENT IN EAST PARK CONSULTING LLC	85,925	C
(27)INVESTMENT IN EVIDENCITY INC	50,000	C
(28)INVESTMENT IN FAMILY STEWARDSHIP CENTER LLC	100,000	C
(29)INVESTMENT IN FLORIDA HURRICANE DISASTER RELIEF FUND LLC	1	C
(30)INVESTMENT IN FLOURISH OKC LLC	155,945	C
(31)INVESTMENT IN FREEDOM PARTNERS NO 1 LLC	100,000	F
(32)INVESTMENT IN FREEDOM PARTNERS NO 2 LLC	100,000	F
(33)INVESTMENT IN FRONTLINE INTEGRITY	12,600	C
(34)INVESTMENT IN GIVESAFE, INC. (SAMARITAN)	230,670	C
(35)INVESTMENT IN GLOBAL FOOD EXCHANGE INC	500,000	C
(36)INVESTMENT IN GLOBAL OCEAN INVESTMENT LLC	128,500	C
(37)INVESTMENT IN GRAND VALLEY OASIS PROPERTIES LLC	420,000	C
(38)INVESTMENT IN GRILLKING, LLC	25,000	C
(39)INVESTMENT IN HE LIVES FILM, LLC	40,105,478	C
(40)INVESTMENT IN HERITAGE RANCH (ROMANIA) SRL	142,000	C
(41)INVESTMENT IN HERON VENTURES - EAST AFRICA GROWTH FUND, LP	34,674	F
(42)INVESTMENT IN HERVEST FOR WOMEN LIMITED	25,000	C
(43)INVESTMENT IN HTRANSFORMATIVE LLC	48,500	F
(44)INVESTMENT IN HUNTR INC	25,000	C
(45)INVESTMENT IN HYDROSTASIS, INC.L	204,527	C
(46)INVESTMENT IN IBEX INVESTMENT CAPITAL FUND	3,105,002	C
(47)INVESTMENT IN IMPOSSIBLE MATH LLC	9,574,456	C
(48)INVESTMENT IN INFINITE GIVING HOLDINGS LLC	25,000	C
(49)INVESTMENT IN INFINITE GIVING HOLDINGS LLC	25,000	C
(50)INVESTMENT IN INSYTS LLC	333,980	F
(51)INVESTMENT IN JACKS CHEESECAKE LLC	84,555	C
(52)INVESTMENT IN JADA GROUP LLC	275,000	C
(53)INVESTMENT IN JAIL EDUCATION	24,482	C
(54)INVESTMENT IN JIBU, L3C	60,000	C
(55)INVESTMENT IN JOMA INTERNATIONAL PTE LTD	456,006	C
(56)INVESTMENT IN KENTEGRA BIOTECHNOLOGY HOLDINGS, LLC	1,750,000	C
(57)INVESTMENT IN KMBRIGGS FATHERS FUND LLC	8,171	C
(58)INVESTMENT IN LANTERN GLOBAL PS	1,314,649	C
(59)INVESTMENT IN LEGACY VENTURES KINGDOM CAPITAL FUND LP	1,226,204	F
(60)INVESTMENT IN LIFEWORKS PUBLISHING LLC	100,000	C
(61)INVESTMENT IN LIFT ORLANDO	350,000	C
(62)INVESTMENT IN LIGHT SPEED PRODUCTIONS	78,500	C
(63)INVESTMENT IN LOGISTICS ADVANCED RESEARCH CENTER LLC (LARC)	200,315	C
(64)INVESTMENT IN LOGISTICS ADVANCED RESEARCH CENTER LLC (LARC)	647,194	C
(65)INVESTMENT IN MALIBU MOROCCO, LLC	94,080	C
(66)INVESTMENT IN MASAKA CREAMERY LIMITED	433,338	C
(67)INVESTMENT IN MICROVEST GP HOLDING CO	664,510	F
(68)INVESTMENT IN MIKASHBOKS, INC.	50,000	C
(69)INVESTMENT IN MORINGA CONNECT INC	250,000	C
(70)INVESTMENT IN MULLIGAN MOVIE, LLC - REELWORKS	100,000	C
(71)INVESTMENT IN NEW SKY PICTURES, INC.	50,000	C
(72)INVESTMENT IN NEW SKY PICTURES, INC. (B)	150,000	C
(73)INVESTMENT IN ONE DESK TWO CHAIRS LLC	50,000	C
(74)INVESTMENT IN ORANGE COUNTY CENTER FOR INNOVATION & SOCIAL ENTERPRISE SPC (R	50,000	C
(75)INVESTMENT IN PASSIVE WEALTH FUND, LLC	75,000	C
(76)INVESTMENT IN PAUL K REED RECOVERY CENTER, LLC	100,000	C
(77)INVESTMENT IN PLUMBLINE GROUP, LLC	83,000	C
(78)INVESTMENT IN REFUGE COFFEE, LLC	90,000	C
(79)INVESTMENT IN RESPONSIBLE AI NETWORK LLC	130,296	C
(80)INVESTMENT IN RESTART FINANCIAL INC	225,000	C
(81)INVESTMENT IN REVHUBOC SOCIAL INNOVATION FUND I LLC	300,000	F
(82)INVESTMENT IN RIGHTGIFT, INC	61,877	C
(83)INVESTMENT IN ROCKFORD YOUTH LLC	550,000	C
(84)INVESTMENT IN ROSS DESIGN LLC	611,709	C
(85)INVESTMENT IN SC FERMA NATURALA HERITAGE SRL (HERITAGE FARM ROMAINA)	30,000	C
(86)INVESTMENT IN SHOWYPLANE PROPRETARY LTD	150,000	C
(87)INVESTMENT IN STEADFAST CAPITAL, LLC	50,000	C
(88)INVESTMENT IN SUNSTONE LLC	823,965	C
(89)INVESTMENT IN SYCAMORE EQUITY MANAGEMENT, LLC	200,000	C
(90)INVESTMENT IN TALANTON IMPACT FUND LLC	2,236,992	F
(91)INVESTMENT IN TEN SLEEP STORAGE LLC	242,522	C
(92)INVESTMENT IN THE C12 GROUP, LLC	808,093	C
(93)INVESTMENT IN THE SUNSHINE NUT COMPANY LLC	275,000	C
(94)INVESTMENT IN THINKCERCA	50,000	C
(95)INVESTMENT IN TOOTHY COW PRODUCTIONS LLC	500,000	C
(96)INVESTMENT IN TRIVELA PATHWAY, LP	8,831	C
(97)INVESTMENT IN TURACO LTD	790,000	C
(98)INVESTMENT IN UBUNTU LIFE, PBC	100,000	C
(99)INVESTMENT IN UNPLANNED MOVIE, LLC - (& SOLI DEO GLORIA)	500,002	C
(100)INVESTMENT IN VIRENS CAPITAL LLC	389,565	F
(101)INVESTMENT IN VIVOBLU INC.	35,000	C
(102)INVESTMENT IN VOMO LLC	24,223	C
(103)INVESTMENT IN WISE ROCK LLC	924,780	C
(104)INVESTMENT IN WISE ROCK LLC	6,041,056	C
(105)INVESTMENT IN ZAMINVEST LLC	1,699,519	C
(106)PROGRAM RELATED RECEIVABLE - AGROS INTERNATIONAL	40,000	C
(107)PROGRAM RELATED RECEIVABLE - BARIKI CREATION STEWARDSHIP AND LEARNING CENTER	12,000	C
(108)PROGRAM RELATED RECEIVABLE - BENT NAIL PROPERTIES LIMITED	350,000	C
(109)PROGRAM RELATED RECEIVABLE - BEUVING MORTGAGE	430,852	C
(110)PROGRAM RELATED RECEIVABLE - BIZOT COMMERCIAL CLEANING LLC	10,000	C
(111)PROGRAM RELATED RECEIVABLE - BLACK AND WHITE INVESTMENTS LLC	55,000	C
(112)PROGRAM RELATED RECEIVABLE - BUJUMBURA BUSINESS PARK	80,000	C
(113)PROGRAM RELATED RECEIVABLE - BURGESS MORTGAGE	176,818	C
(114)PROGRAM RELATED RECEIVABLE - CANJEL ENERGY LLC	69,293	C
(115)PROGRAM RELATED RECEIVABLE - CHAIRO HOLDINGS	14,017	C
(116)PROGRAM RELATED RECEIVABLE - CLEVER CHARACTERS	44,993	C
(117)PROGRAM RELATED RECEIVABLE - CO LABOR LLC	60,000	C
(118)PROGRAM RELATED RECEIVABLE - COMMUNITY ARTS CENTER OF CHICAGO	250,000	C
(119)PROGRAM RELATED RECEIVABLE - COMPEL MEDIA LLC	182,000	C
(120)PROGRAM RELATED RECEIVABLE - COMPLETE UNITY INC	46,400	C
(121)PROGRAM RELATED RECEIVABLE - CORNERSTONE TECH	102,419	C
(122)PROGRAM RELATED RECEIVABLE - DATEIBLE LLC	70,000	C
(123)PROGRAM RELATED RECEIVABLE - DEAD SAINTS SOCIETY LLC	300,000	C
(124)PROGRAM RELATED RECEIVABLE - DEUX MAINS DISTRIBUTION LLC	50,000	C
(125)PROGRAM RELATED RECEIVABLE - DIANE SCHROEDER	50,000	C
(126)PROGRAM RELATED RECEIVABLE - DIGNITY PRODUCTS	150,000	C
(127)PROGRAM RELATED RECEIVABLE - DRIES VAN JAARSVELDT	93,460	C
(128)PROGRAM RELATED RECEIVABLE - DUKE PROPERTY INVESTMENTS CC	340,000	C
(129)PROGRAM RELATED RECEIVABLE - ELPIS AFRICA, INC	20,000	C
(130)PROGRAM RELATED RECEIVABLE - EMERGING FIELDS INC	156,000	C
(131)PROGRAM RELATED RECEIVABLE - ENNOVATE LAB LTD	13,551	C
(132)PROGRAM RELATED RECEIVABLE - ENTRENUITY INC	198,062	C
(133)PROGRAM RELATED RECEIVABLE - ENZI ELECTRIC MOTOR COMPANY LLC	200,000	C
(134)PROGRAM RELATED RECEIVABLE - ENZI ELECTRIC MOTOR COMPANY LLC	300,000	C
(135)PROGRAM RELATED RECEIVABLE - ENZI ELECTRIC MOTOR COMPANY LLC	250,000	C
(136)PROGRAM RELATED RECEIVABLE - FC OPPORTUNITY HUB	125,000	C
(137)PROGRAM RELATED RECEIVABLE - FRONTLINE INTEGRITY HOLDINGS INC	243,900	C
(138)PROGRAM RELATED RECEIVABLE - FRONTLINE THREAD	112,000	C
(139)PROGRAM RELATED RECEIVABLE - GLOBAL OCEAN INVESTMENT LLC	145,000	C
(140)PROGRAM RELATED RECEIVABLE - GRACE MARRIAGE LLC	100,000	C
(141)PROGRAM RELATED RECEIVABLE - HALLWORTH MORTGAGE	328,631	C
(142)PROGRAM RELATED RECEIVABLE - HCR-FC MARLBOROUGH WOODS LLC	199,879	C
(143)PROGRAM RELATED RECEIVABLE - HERITAGE FARMS GA	115,500	C
(144)PROGRAM RELATED RECEIVABLE - HERITAGE RANCH SRL	407,275	C
(145)PROGRAM RELATED RECEIVABLE - HERON VENTURES LLC	128,500	C
(146)PROGRAM RELATED RECEIVABLE - HOPE GLOBAL	2,575,000	C
(147)PROGRAM RELATED RECEIVABLE - IBEX INVESTMENT CAPITAL FUND (ROCKLIN)	145,500	C
(148)PROGRAM RELATED RECEIVABLE - IBEX INVESTMENT CAPITAL FUND (WELLSPRING)	64,226	C
(149)PROGRAM RELATED RECEIVABLE - IMANI COLLECTIVE LLC	608,604	C
(150)PROGRAM RELATED RECEIVABLE - IMPACT INSTITUTE LLC	150,000	C
(151)PROGRAM RELATED RECEIVABLE - IMPACT THRIFT LLC	300,000	C
(152)PROGRAM RELATED RECEIVABLE - INSTARE	30,000	C
(153)PROGRAM RELATED RECEIVABLE - JAZZA CENTRE LIMITED	27,075	C
(154)PROGRAM RELATED RECEIVABLE - JEBEL ADVENTURES	39,612	C
(155)PROGRAM RELATED RECEIVABLE - JOMA INTERNATIONAL PTE LTD	25,000	C
(156)PROGRAM RELATED RECEIVABLE - JOYN LLC	101,850	C
(157)PROGRAM RELATED RECEIVABLE - JUBILEE COLORADO HOLDING LLC	85,000	C
(158)PROGRAM RELATED RECEIVABLE - KALEO HOME BASE LLC	1,000,000	C
(159)PROGRAM RELATED RECEIVABLE - KAPPA STUDIOS INC	65,340	C
(160)PROGRAM RELATED RECEIVABLE - KOINONIA PEORIA LLC	171,900	C
(161)PROGRAM RELATED RECEIVABLE - KUA VENTURES LTD	511,179	C
(162)PROGRAM RELATED RECEIVABLE - LAKESIDE LTD	130,300	C
(163)PROGRAM RELATED RECEIVABLE - LIA BLUE WINGS	944,369	C
(164)PROGRAM RELATED RECEIVABLE - LIFT CHURCH	773,558	C
(165)PROGRAM RELATED RECEIVABLE - LIONHEART CHILDREN'S ACADEMY	45,000	C
(166)PROGRAM RELATED RECEIVABLE - LOCUST HEIGHTS LLC	255,000	C
(167)PROGRAM RELATED RECEIVABLE - LONG MILES COFFEE INTERNATIONAL LIMITED	80,333	C
(168)PROGRAM RELATED RECEIVABLE - M CULTIVO LLC	660,000	C
(169)PROGRAM RELATED RECEIVABLE - MASAKA CREAMERY LIMITED	150,000	C
(170)PROGRAM RELATED RECEIVABLE - MEDIA 7 BALKAN	8,609	C
(171)PROGRAM RELATED RECEIVABLE - MORE HOUSING NOW	250,000	C
(172)PROGRAM RELATED RECEIVABLE - MORINGA CONNECT INC	250,000	C
(173)PROGRAM RELATED RECEIVABLE - MUSTARD SEED MINISTRY INC	305,738	C
(174)PROGRAM RELATED RECEIVABLE - NEHEMIAH PROJECT	24,821	C
(175)PROGRAM RELATED RECEIVABLE - NEIGHBORHEALTH CENTER LLC	255,000	C
(176)PROGRAM RELATED RECEIVABLE - NORTHEAST DIAMOND LLC	32,574	C
(177)PROGRAM RELATED RECEIVABLE - NORTHWEST DIAMOND LLC	23,336	C
(178)PROGRAM RELATED RECEIVABLE - NOT YOUR AVERAGE JOE, INC.	300,000	C
(179)PROGRAM RELATED RECEIVABLE - NZERO LABS INC	110,627	C
(180)PROGRAM RELATED RECEIVABLE - PAUL K REED RECOVERY CENTER	100,000	C
(181)PROGRAM RELATED RECEIVABLE - POTTERS WHEEL NOTE RECEIVABLE	348,865	C
(182)PROGRAM RELATED RECEIVABLE - PUREFLOW INITIATIVE LIMITED	38,278	C
(183)PROGRAM RELATED RECEIVABLE - PUREFLOW US LLC	1,816,997	C
(184)PROGRAM RELATED RECEIVABLE - PURNAA PBC	100,000	C
(185)PROGRAM RELATED RECEIVABLE - REDIMIR INC	36,265	C
(186)PROGRAM RELATED RECEIVABLE - REEL EXPERIENCES	407,750	C
(187)PROGRAM RELATED RECEIVABLE - ROCKLIN GLOBAL (INTERNATIONAL SCHOOLS)	110,000	C
(188)PROGRAM RELATED RECEIVABLE - SABAFURAHA PTY LTD	106,000	C
(189)PROGRAM RELATED RECEIVABLE - SAIL4CHRIST INC	173,500	C
(190)PROGRAM RELATED RECEIVABLE - SANSAR COFFEE LLC	30,000	C
(191)PROGRAM RELATED RECEIVABLE - SC FERMA NATURALA HERITAGE	90,000	C
(192)PROGRAM RELATED RECEIVABLE - SEAF COVID 19 GLOBAL LOAN FACILITY	806,786	C
(193)PROGRAM RELATED RECEIVABLE - SOULCLOUT COLLECTIVE LLC	55,000	C
(194)PROGRAM RELATED RECEIVABLE - SPRINT MEDIA INC	50,000	C
(195)PROGRAM RELATED RECEIVABLE - SQUARE ONE DE, INC.	200,512	C
(196)PROGRAM RELATED RECEIVABLE - STONE COMMUNITY DEVELOPMENT CO	208,000	C
(197)PROGRAM RELATED RECEIVABLE - SUMMIT OUTDOORS, LLC	248,500	C
(198)PROGRAM RELATED RECEIVABLE - SUNSHINE GOSPEL MINISTRIES	250,000	C
(199)PROGRAM RELATED RECEIVABLE - SUSWA MEDICAL FOUNDATION	75,600	C
(200)PROGRAM RELATED RECEIVABLE - TEGU	825,000	C
(201)PROGRAM RELATED RECEIVABLE - THE CENTER FOR INNOVATION & SOCIAL ENTERPRISE S	103,466	C
(202)PROGRAM RELATED RECEIVABLE - THE FIELD SCHOOL	250,000	C
(203)PROGRAM RELATED RECEIVABLE - THE SKIPPING STONE	36,000	C
(204)PROGRAM RELATED RECEIVABLE - THE SUNSHINE NUT COMPANY LLC	94,250	C
(205)PROGRAM RELATED RECEIVABLE - THE THORN LTD	52,000	C
(206)PROGRAM RELATED RECEIVABLE - THERISMOS INVESTMENTS COMPANY	60,000	C
(207)PROGRAM RELATED RECEIVABLE - TIVAWATER UGANDA LIMITED	1,704	C
(208)PROGRAM RELATED RECEIVABLE - TRUBLUE RED SEA INC	314,187	C
(209)PROGRAM RELATED RECEIVABLE - TUA UGANDA SMC LIMITED	75,000	C
(210)PROGRAM RELATED RECEIVABLE - UBUNTU LIFE PBC	120,000	C
(211)PROGRAM RELATED RECEIVABLE - UNIQUA WALL SYSTEMS	216,667	C
(212)PROGRAM RELATED RECEIVABLE - URBAN BLISS HOTEL LIMITED	339,286	C
(213)PROGRAM RELATED RECEIVABLE - WHOLE HEALTH PARTNERS LLC	35,000	C
(214)PROGRAM RELATED RECEIVABLE - YUG-AZIYA GROUP LLC	300,000	C
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)	149,861,839

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes









Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) (Rev. 1-2025)

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......		1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d .....................		2e
3	Subtract line 2e from line 1..................		3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................		4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......		5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........		1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d....................		2e
3	Subtract line 2e from line 1...................		3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.....................		4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......		5

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference

Explanation

PART X, LINE 2:

INCOME TAX EXPENSE IS RECORDED FOR ACTIVITIES THAT GENERATE UNRELATED BUSINESS INCOME. THE FOUNDATION GENERATES TAXABLE INCOME AND LOSS THROUGH INVESTMENT TRANSACTIONS. THE FOUNDATION ACCEPTS DONATIONS OF S-CORPORATION STOCK AND MAY INVEST IN S-CORPORATION STOCK DIRECTLY. DURING THE HOLDING PERIOD, THE FOUNDATION'S SHARE OF S-CORPORATION INCOME IS TAXABLE. FURTHER, A TAXABLE CAPITAL GAIN MAY BE GENERATED UPON SALE OF THE STOCK. SIMILARLY, THE FOUNDATION RECEIVES INTERESTS AND DIRECTLY INVESTS IN LIMITED LIABILITY COMPANIES ("LLC"S). INCOME FROM LLCS MAY OR MAY NOT BE TAXABLE DEPENDING UPON THE CHARACTER OF THE INCOME AND IF THE ACTIVITY OF THE LLC IS RELATED TO THE FOUNDATION'S EXEMPT PURPOSE. THE FOUNDATION'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION THAT IS BENEFICIAL TO THE FOUNDATION, INCLUDING ANY RELATED INTEREST AND PENALTIES, WHEN IT IS MORE LIKELY THAN NOT THE POSITION TAKEN BY MANAGEMENT WITH RESPECT TO THE TRANSACTION OR CLASS OF TRANSACTIONS WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF DECEMBER 31, 2024, AND ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED.

Schedule D (Form 990) (Rev. 1-2025)

Additional Data

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SCHEDULE F(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Statement of Activities Outside the United States

Complete if the organization answered "Yes" to Form 990, Part IV, line 14b, 15, or 16. Right arrow

Attach to Form 990. Right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization
IMPACT INVESTING CHARITABLE TRUST

Employer identification number

81-2375745

Part I

General Information on Activities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 14b.

For grantmakers. Does the organization maintain records to substantiate the amount of its grants and

other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used

to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.

Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)

(a) Region		(b) Number of offices in the region	(c) Number of employees, agents, and independent contractors in the region	(d) Activities conducted in region (by type) (such as, fundraising, program services, investments, grants to recipients located in the region)	(f) Total expenditures for and investments in the region
	EAST ASIA AND THE PACIFIC	0	0	INVESTING	50,300
	MIDDLE EAST AND NORTH AFRICA	0	0	INVESTING	886,628
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	INVESTING	38,280














3a	Sub-total ....	0	0		975,208
b	Total from continuation sheets to Part I ...	0	0		0
c	Totals (add lines 3a and 3b)	0	0		975,208

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) (Rev. 1-2025)

Schedule F (Form 990) (Rev. 1-2025)

Page 2

Part II

Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.

1 (a) Name of organization		(b) IRS code section and EIN (if applicable)	(c) Region	(d) Purpose of grant	(e) Amount of cash grant	(f) Manner of cash disbursement	(g) Amount of noncash assistance	(h) Description of noncash assistance	(i) Method of valuation (book, FMV, appraisal, other)

2	Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......
3	Enter total number of other organizations or entities .......................

Schedule F (Form 990) (Rev. 1-2025)

Schedule F (Form 990) (Rev. 1-2025)Page 3

Part III

Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 16.

Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance		(b) Region	(c) Number of recipients	(d) Amount of cash grant	(e) Manner of cash disbursement	(f) Amount of noncash assistance	(g) Description of noncash assistance	(h) Method of valuation (book, FMV, appraisal, other)

Schedule F (Form 990) (Rev. 1-2025)

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) (Rev. 1-2025)

Page 5

Part V

Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions.

ReturnReference	Explanation
PART IV, LINE 1	THE ORGANIZATION HAS ATTACHED FORM 926 AS REQUIRED FOR TRANSFERS FOR FOREIGN INVESTMENTS.
PART IV, LINE 3	THE FORM 5471 HAS BEEN PREPARED AS REQUIRED.

Schedule F (Form 990) (Rev. 1-2025)

Additional Data

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Schedule I
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization
IMPACT INVESTING CHARITABLE TRUST

Employer identification number
81-2375745

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(e) Amount of non-cash assistance	(f) Method of valuation (book, FMV, appraisal, other)	(g) Description of noncash assistance	(h) Purpose of grant or assistance
(1) IMPACT INVESTING CHARITABLE FOUNDATION 8208 MELROSE DR OVERLAND PARK,KS66214	47-3574130	501(C)(3)	30,190,027	0			FURTHER CHARITABLE PURPOSE
(2) NATIONAL CHRISTIAN FOUNDATION 11625 RAINWATER DR ALPHARETTA,GA30009	58-1493949	501(C)(3)	0	2,852,909	BOOK VALUE	INVESTMENTS - MACRO BIOLOGICS & KNIGHTVEST	FURTHER CHARITABLE PURPOSE
(3) SOUL SHELTER 3516 SASSE WAY LOUISVILLE,KY40245	99-1733822	501(C)(3)	600,000	0			SERVICES FOR THOSE IN NEED
(4) THE FLOURISHING COOPERATIVE 8529 154 CT N PALM BEACH GARDENS,FL33418		501(C)(3)	500,000	0			FAITH MISSION COOPERATIVE

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) Rev. 1-2025

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance

(1)
(2)
(3)
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference	Explanation
PART I, LINE 2:	THE ORGANIZATION GRANTS FUNDS TO ITS SUPPORTED ORGANIZATION AND GRANTS TO OTHER ORGANIZATIONS AS DIRECTED BY THE SUPPORTED ORGANIZATION.

Schedule I (Form 990) Rev. 1-2025

Additional Data

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Schedule J
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic

Attach to Form 990.
medium right arrow graphic

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

IMPACT INVESTING CHARITABLE TRUST

Employer identification number

81-2375745

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? .............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ....................

Any related organization? .......................

If "Yes," on line 5a or 5b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ..................

Any related organization? ......................

If "Yes," on line 6a or 6b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) (Rev. 1-2025)

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1AIMEE MINNICH CIO	(i) (ii)	0 ------------- 323,285	0 ------------- 0	0 ------------- 0	0 ------------- 13,612	0 ------------- 11,929	0 ------------- 348,826	0 ------------- 0

Schedule J (Form 990) (Rev. 1-2025)

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference	Explanation
PART I, LINE 3	THE RELATED ORGANIZATION USES A COMPENSATION COMMITTEE, FORM 990'S OF OTHER ORGANIZATIONS, AND COMPENSATION SURVEYS TO ESTABLISH THE COMPENSATION OF THE CEO AND CIO. THE BOARD APPROVES THE COMPENSATION.

Schedule J (Form 990) (Rev. 1-2025)

Additional Data

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SCHEDULE M
(Form 990)

Department of the Treasury

Internal Revenue Service

Noncash Contributions

Complete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image

Attach to Form 990.
Right pointing arrow large image

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

Name of the organization

IMPACT INVESTING CHARITABLE TRUST

Employer identification number

81-2375745

Part I

Types of Property

	(a) Check if applicable	(b) Number of contributions or items contributed	(c) Noncash contribution amounts reported on Form 990, Part VIII, line 1g	(d) Method of determining noncash contribution amounts
1 Art—Works of art ....
2 Art—Historical treasures .
3 Art—Fractional interests ..
4 Books and publications ..
5 Clothing and household goods .......
6 Cars and other vehicles ..
7 Boats and planes ....
8 Intellectual property ...
9 Securities—Publicly traded .
10 Securities—Closely held stock .
11 Securities—Partnership, LLC, or trust interests ....	X	4	5,189,064	FAIR MARKET VALUE
12 Securities—Miscellaneous ..
13 Qualified conservation contribution—Historic structures .....
14 Qualified conservation contribution—Other ...
15 Real estate—Residential .
16 Real estate—Commercial ..
17 Real estate—Other ...
18 Collectibles .....
19 Food inventory ...
20 Drugs and medical supplies .
21 Taxidermy ......
22 Historical artifacts ....
23 Scientific specimens ..
24 Archeological artifacts ...
25 Other ( )
26 Other ( )
27 Other ( )
28 Other ( )

Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement

Yes

30a

During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? ...................

30a

If "Yes," describe the arrangement in Part II.

Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions?

Yes

32a

Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash

contributions? ..........................

32a

If "Yes," describe in Part II.

If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked,

describe in Part II.

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 51227J

Schedule M (Form 990) (2024)

Page 2

Part IISupplemental Information. Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.

Return Reference	Explanation

Schedule M (Form 990) (2024)

Additional Data

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SCHEDULE O
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization

IMPACT INVESTING CHARITABLE TRUST

Employer identification number

81-2375745

Return Reference	Explanation
FORM 990, PART VI, SECTION A, LINE 7A	THE SUPPORTED ORGANIZATION HAS THE POWER TO APPOINT TRUSTEES AND ONE TRUSTEE MUST BE A DELAWARE RESIDENT.
FORM 990, PART VI, SECTION B, LINE 11B	THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL AND TOP FINANCIAL OFFICIAL EACH REVIEW THE FORM 990 PRIOR TO ITS FILING WITH THE IRS. A COPY OF THE FINAL FORM 990 IS ALSO PROVIDED TO THE VOTING MEMBERS OF THE ORGANIZAION'S GOVERNING BODY PRIOR TO ITS FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	THE ORGANIZATION REQUIRES THAT EACH MEMBER ANNUALLY PROVIDE A STATEMENT DISCLOSING ANY POTENTIAL CONFLICTS OF INTEREST, AND APPROPRIATE ACTION IS TAKEN. MEMBERS WITH A CONFLICT OF INTEREST RECUSE THEMSELVES FROM ANY DISCUSSION AND DECISION MAKING RELATED TO THE CONFLICT OF INTEREST.
FORM 990, PART VI, SECTION B, LINE 15	THE ORGANIZATION DOES NOT COMPENSATE ANY OFFICERS OR DIRECTORS. THE SUPPORTED ORGANIZATION HAS ADOPTED AN EXECUTIVE COMPENSATION SETTING POLICY APPLICABLE TO ALL DISQUALIFIED PERSONS, INCLUDING THE ORGANIZATION'S CEO AND CIO. UNDER THE POLICY, THE FINANCE AUDIT COMPENSATION COMMITTEE ANNUALLY REVIEWS AND APPROVES THE COMPENSATION LEVELS OF THE EXECUTIVE DIRECTOR/PRESIDENT. THE COMPENSATION APPROVAL PROCESS INCLUDES REVIEW OF A COMPENSATION SURVEY TO DETERMINE REASONABLE COMPENSATION.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION PROVIDES, UPON REQUEST, COPIES OF ITS ARTICLES OF INCORPORATION, BYLAWS, CONFLICT OF INTEREST POLICY, FORM 1023, AND ITS FINANCIAL STATEMENTS.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) (Rev. 1-2025)

Additional Data

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SCHEDULE R
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

IMPACT INVESTING CHARITABLE TRUST

Employer identification number

81-2375745

Part I

Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity
(1) CHESTNUT IMPACT LLC 8208 MELROSE DRIVE LENEXA,KS66214 81-2375745	RENTAL PROPERTY	KY	20,000	493,567	IMPACT INVESTING CHARITABLE TRUST

Part II

Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No
(1)IMPACT INVESTING CHARITABLE FOUNDATION INC 8208 MELROSE DRIVE LENEXA,KS66214 47-3574130	PROGRAM-RELATED INVESTMENTS; FUNDING CHARITABLE ACTIVITIES	GA	501(C)(3)	LINE 7	N/A		No

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) (Rev. 1-2025)

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Predominant income(related, unrelated, excluded from tax under sections 512-514)	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity		(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership
(1) 1858 HIGHWAY 64 1858 HIGHWAY 64 NEW RICHMOND,WI54017 99-9999999	AGRICULTURAL/NATURE EDUCATION	WI	IMPACT INVESTING CHARITABLE TRUST	RELATED		2,500,000		No			No	99.000 %
(2) ADL HOLDING LLC 925B PEACHTREE ST NE SUITE 795 ATLANTA,GA30309 85-0604941	POVERTY ALLEVIATION	GA	IMPACT INVESTING CHARITABLE TRUST	RELATED	-1,507,944			No			No	98.000 %
(3) ALPHA CHARITABLE LLC 920 E 56TH ST SUITE B KEARNEY,NE68847 92-0310578	GENEROSITY	NE	IMPACT INVESTING CHARITABLE TRUST	RELATED	-47,081	55,586		No			No	99.000 %
(4) ARBORETUM US HOLDINGS LLC 8 E YALE ST ORLANDO,FL32804 88-2726797	INVESTING	FL	IMPACT INVESTING CHARITABLE TRUST	RELATED	-6,892	301,892		No			No	74.100 %
(5) ATLAS ROCK LLC 21363 COLONIST WAY MORRISON,CO80465 00-0001408	RECREATION	CO	IMPACT INVESTING CHARITABLE TRUST	RELATED	3,320			No			No	65.000 %
(6) AVENTON OKLAHOMA LLC 171 STONEBRIDGE BOULEVARD EDMOND,OK73013 82-4443864	POVERTY ALLEVIATION	OK	IMPACT INVESTING CHARITABLE TRUST	RELATED	-483	108,304		No			No	74.250 %
(7) CHERITH ANALYTICS LLC 650 CASTRO STREET SUITE 120-290 MOUNTAIN VIEW,CA94041 83-1958547	EVANGELISM/DISCIPLESHIP	CA	IMPACT INVESTING CHARITABLE TRUST	RELATED	-9,868,974	22,147,455		No			No	99.000 %
(8) COMMON CLAY PICTURES LLC 568 IVERSON BEACH RD CAMANO ISLAND,WA98282 85-3627789	FILM	WA	IMPACT INVESTING CHARITABLE TRUST	RELATED	-42,749	397,266		No			No	50.000 %
(9) CONNEXION MOROCCO LLC 609 NORTHCREEK DRIVE EDMOND,OK73034 84-3225449	EDUCATION	OK	IMPACT INVESTING CHARITABLE TRUST	RELATED	-564	242,834		No			No	79.590 %
(10) EAGLE FREEDOM FUND LLC 550 BAILEY AVE SUITE 160 FORT WORTH,TX76107 88-3922352	INVESTING	TX	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	40,147	1,018,138	Yes				No	52.870 %
(11) ELEMENT CONSTRUCTION LLC PO BOX 9 GRIDLEY,IL61744 47-3543139	INVESTING	IL	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	-26,080	301,116		No			No	63.400 %
(12) EVERSEAL COATINGS LLC 101 N WESTERN AVE GRIDLEY,IL61744 83-1952623	INVESTMENT	IL	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	103,375	1,041,568		No	103,375		No	65.000 %
(13) FELIX'S RESTAURANT GROUP FINANCE LLC 739 IBERVILLE STREET NEW ORLEANS,LA70130 99-9999999	INVESTING	LA	IMPACT INVESTING CHARITABLE TRUST	UNRELATED		3,440,000		No			No	99.000 %
(14) FLORIDA HURRICANE DISASTER RELIEF FUND LLC 1485 CENTER ST SANIBEL,FL33957 93-3359655	GENEROSITY	FL	IMPACT INVESTING CHARITABLE TRUST	RELATED	-2,198,644	5,432,347		No			No	99.000 %
(15) FLOURISH OKC LLC 99-0618684	GENEROSITY	OK	IMPACT INVESTING CHARITABLE TRUST	RELATED	-1,431,565			No			No	99.900 %
(16) FUND I A SERIES OF MANAS ECOSYSTEMS FUND LLC 2093 PHILADELPHIA PIKE 5885 CLAYMONT,DE19703 93-2216806	INVESTING	DE	IMPACT INVESTING CHARITABLE TRUST	UNRELATED		552,056		No			No	100.000 %
(17) GLOBAL OCEAN INVESTMENT LLC 1801 ASSEMBLY ST COLUMBIA,SC29201 99-9999999	INVESTING	SC	IMPACT INVESTING CHARITABLE TRUST	UNRELATED		128,500		No			No	99.000 %
(18) GOBENA LLC 101 N WESTERN AVE GRIDLEY,IL61744 32-0458587	INVESTING	IL	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	233,713	548,716		No	233,713		No	100.000 %
(19) GRAND VALLEY OASIS PROPERTIES LLC 18267 LITTLE PARK ROAD GLADE PARK,CO81523 00-0001618	INVESTING	CO	IMPACT INVESTING CHARITABLE TRUST	RELATED		420,000	Yes				No	80.610 %
(20) GREATER GOOD REAL ESTATE LLC 4220 NORTH BICENTENNIAL DRIVE STE A MCALLEN,TX78504 82-4173767	REAL ESTATE	TX	IMPACT INVESTING CHARITABLE TRUST	INVESTMENT	158,992	1,051,222		No			No	99.000 %
(21) HE LIVES FILM LLC 10951 SORRENTO VALLEY RD STE 2C SAN DIEGO,CA92121 99-2090050	FILM	CA	IMPACT INVESTING CHARITABLE TRUST	RELATED	-28,639	40,073,220		No			No	99.000 %
(22) HIBM HER INESCAPABLE BRAVE MISSION LLC 610 W 42ND ST APT 51C NEW YORK,NY10036 82-4573690	INVESTING	NY	IMPACT INVESTING CHARITABLE TRUST	INVESTMENT	-55,740	16,664		No			No	62.500 %
(23) HTRANSFORMATIVE LLC 13201 DATA VAULT DRIVE STE 101 LOUISVILL,KY40223 33-1340595	WATER	KY	IMPACT INVESTING CHARITABLE TRUST	RELATED		48,500		No			No	99.000 %
(24) IMPOSSIBLE MATH LLC 4 S 2600 W STE 5 HURRICANE,UT84737 87-0840488	INVESTING	UT	IMPACT INVESTING CHARITABLE TRUST	RELATED	-1,746,176	13,727,308	Yes				No	80.490 %
(25) INSYTS LLC 801 TRAVIS ST STE 201 HOUSTON,TX77002 99-2853857	HEALTHCARE	TX	IMPACT INVESTING CHARITABLE TRUST	RELATED	-19,576	314,404		No			No	99.000 %
(26) KARIS MANAGEMENT GROUP 7422 CARMEL EXECUTIVE PARK DR STE 1 CHARLOTTE,NC28226 46-2517209	REAL ESTATE	NC	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	1,107,490	4,393,597		No			No	99.950 %
(27) KMBRIGGS FATHER'S FUND LLC 200 RIVERHILLS BUSINESS PRK STE 235 BIRMINGHAM,AL35242 88-1228523	INVESTING	AL	IMPACT INVESTING CHARITABLE TRUST	RELATED	-456	7,715		No			No	100.000 %
(28) LANTERN GLOBAL LLC 246 WEST 48TH STREET NEW YORK,NY10036 47-2968586	INVESTING	NY	IMPACT INVESTING CHARITABLE TRUST	RELATED	-72,056	1,707,289	Yes				No	99.000 %
(29) LEGACY VENTURES KINGDOM CAPITAL FUND 1 NORTH STATE STREET STE 1500 CHICAGO,IL60602 83-1808820	INVESTING	IL	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	42,056	1,192,927		No			No	53.230 %
(30) LIFESONG IMPACT LLC 101 N WESTERN AVE GRIDLEY,IL61744 83-0973768	INVESTING	IL	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	-1,442	219		No			No	99.000 %
(31) MALIBU MOROCCO LLC 171 STONEBRIDGE BOULEVARD EDMOND,OK73013 99-2544172	HOSPITALITY	OK	IMPACT INVESTING CHARITABLE TRUST	RELATED	-9	94,071		No			No	89.600 %
(32) NARTHAX IMPACT FUND I LLC 15621 W 87TH ST PKWY 213 LENEXA,KS66219 81-2375745	REAL ESTATE	KS	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	-2,928	142,572	Yes		-2,928		No	97.090 %
(33) PATTERNS OF EVIDENCE 75-3019772	INVESTING	MN	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	-21,802	2,965,349	Yes				No	64.170 %
(34) POSSOM TROT FILM LLC 704 VIRGINIA AVE NACADOCHES,TX75964 87-3075466	INVESTING	TX	IMPACT INVESTING CHARITABLE TRUST	RELATED		18,521,844		No			No	99.000 %
(35) REFUGE COFFEE 113 N WILLIAM ST SENECA,IL61360 87-3516898	HOSPITALITY	IL	IMPACT INVESTING CHARITABLE TRUST	RELATED	-70,932	19,068		No			No	100.000 %
(36) RENTAL IMPACT LLC 7910 W 99TH ST OVERLAND PARK,KS66212 84-4373952	INVESTING	KS	IMPACT INVESTING CHARITABLE TRUST	INVESTMENT	103,961	986,299		No			No	99.000 %
(37) RESPONSIBLE AI NETWORK LLC 74 PASCAL LAND AUSTIN,TX78746 85-3795107	TECHNOLOGY	TX	IMPACT INVESTING CHARITABLE TRUST	RELATED	-65,315	130,296		No			No	98.400 %
(38) RESTORATION 223 LLC 11119 MOSHIE LANE SAN ANTONIO,FL33576 99-1076489	REAL ESTATE	FL	IMPACT INVESTING CHARITABLE TRUST	UNRELATED		123,900		No			No	99.000 %
(39) ROCKFORD YOUTH LLC 8777 VELOCITY DRIVE MACHESNEY PARK,IL61115 99-9999999	YOUTH ACTIVITIES	IL	IMPACT INVESTING CHARITABLE TRUST	RELATED		550,000		No			No	100.000 %
(40) ROOTED STORIES FUND I LP 8 THE GRN STE B DOVER,DE19901 33-1306840	FILM	DE	IMPACT INVESTING CHARITABLE TRUST	UNRELATED	-14	499,986		No			No	80.000 %
(41) ROSS DESIGN LLC 195 CANE CREEK RD BEEBE,AR72012 83-3337074	INVESTING	AR	IMPACT INVESTING CHARITABLE TRUST	RELATED	-21,598	131,569		No			No	80.000 %
(42) SOVERIGN'S CAPITAL REAL ESTATE FUND II LP 3350 RIVERWOOD PARKWAY SE SUITE 670 ATLANTA,GA30339 92-2593168	INVESTING	GA	IMPACT INVESTING CHARITABLE TRUST	INVESTMENT	-1,113,239	7,414,580		No	-68,277		No	78.590 %
(43) SPROUT STUDIO LLC 701 TILLERY STREET UNIT 12 2226 AUSTIN,TX78702 93-4786541	TECHNOLOGY	TX	IMPACT INVESTING CHARITABLE TRUST	UNRELATED		100,000	Yes				No	100.000 %
(44) SUNSTONE LLC - COMPASSION FUND 12362 PRISCILLA LANE LOS ALTOS HILLS,CA94022 84-2436211	POVERTY ALLEVIATION	CA	IMPACT INVESTING CHARITABLE TRUST	RELATED	-24,156	649,773		No	-24,156		No	96.460 %
(45) TEN SLEEP STORAGE LLC PO BOX 43 TEN SLEEP,WY82442 88-3466261	INVESTING	WY	IMPACT INVESTING CHARITABLE TRUST	RELATED	-7,726	242,522		No			No	99.000 %
(46) VIRENS CAPITAL LLC PO BOX 254 URBANA,OH43078 99-1562693	INVESTING	OH	IMPACT INVESTING CHARITABLE TRUST	RELATED	28,215	389,565		No			No	99.000 %
(47) WILD BROTHERS MEDIA LLC 1118 PIN OAK CIR NICEVILLE,FL32578 88-4021082	INVESTING	FL	IMPACT INVESTING CHARITABLE TRUST	UNRELATED		150,000	Yes				No	50.000 %
(48) ZAMINVEST LLC 8208 MELROSE LENEXA,KS66214 83-4562449	POVERTY ALLEVIATION	KS	IMPACT INVESTING CHARITABLE TRUST	RELATED	-120	1,699,399		No			No	100.000 %

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	Yes	No
(1) WISE ROCK LLC--CONVERTED TO PARTNERSHIP DURING 2024 10714 CHEVY CHASE DR HOUSTON,TX77042 82-3082675	CONSULTING	TX	IMPACT INVESTING CHARITABLE TRUST	S		6,965,836	99.000 %	Yes
(2) PHOTOUP INC 40 PEARL ST GRAND RAPIDS,MI49506 99-9999999	TECHNOLOGY; UNRELATED	DE		C		1,723,362	55.500 %		No

Schedule R (Form 990) (Rev. 1-2025)

Page 3

Part V

Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................

b Gift, grant, or capital contribution to related organization(s) ............................

Yes

c Gift, grant, or capital contribution from related organization(s) ............................

Yes

d Loans or loan guarantees to or for related organization(s) ............................

e Loans or loan guarantees by related organization(s) ............................

f Dividends from related organization(s) ............................

g Sale of assets to related organization(s) ............................

h Purchase of assets from related organization(s) ............................

i Exchange of assets with related organization(s) ............................

j Lease of facilities, equipment, or other assets to related organization(s) .......................

k Lease of facilities, equipment, or other assets from related organization(s) ......................

l Performance of services or membership or fundraising solicitations for related organization(s) .....................

m Performance of services or membership or fundraising solicitations by related organization(s) .................

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................

Yes

o Sharing of paid employees with related organization(s) ............................

Yes

p Reimbursement paid to related organization(s) for expenses ............................

q Reimbursement paid by related organization(s) for expenses ............................

r Other transfer of cash or property to related organization(s) ............................

Yes

s Other transfer of cash or property from related organization(s) ............................

Yes

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved
(1) ALPHA CHARITABLE LLC	B	50,000	CASH
(2) CHERITH ANALYTICS LLC	B	12,870,000	CASH
(3) EAGLE FREEDOM FUND LP	B	560,000	CASH
(4) EVERSEAL COATINGS LLC	S	81,250	CASH
(5) FLORIDA HURRICANE DISASTER RELIEF FUND LLC	B	1,350,000	CASH
(6) FUND I A SERIES OF MANS ECOSYSTEM FUND LLC	B	520,000	CASH
(7) HE LIVES FILM LLC	B	40,105,478	CASH
(8) HTRANSFORMATIVE LLC	B	48,500	CASH
(9) IMPOSSIBLE MATH LLC	B	531,369	CASH
(10) INSYTS LLC	B	333,980	CASH
(11) KARIS MANAGEMENT GROUP	S	1,442,073	CASH
(12) LANTERN GLOBAL LLC	B	100,000	CASH
(13) MALIBU MOROCCO LLC	B	94,080	CASH
(14) NARTHAX IMPACT FUND I LLC	B	145,500	CASH
(15) POSSOM TROT FILM LLC	B	168,000	CASH
(16) REFUGE COFFEE	B	90,000	CASH
(17) RESPONSIBLE AI NETWORK LLC	B	90,000	CASH
(18) ROCKFORD YOUTH LLC	B	200,000	CASH
(19) ROOTED STORIES FUND I LP	B	500,000	CASH
(20) SOVERIGN'S CAPITAL REAL ESTATE FUND II LP	B	1,026,815	CASH
(21) SPROUT STUDIO LLC	B	100,000	CASH
(22) VIRENS CAPITAL LLC	B	361,350	CASH

Schedule R (Form 990) (Rev. 1-2025)

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Schedule R (Form 990) (Rev. 1-2025)

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R. See instructions.

Return Reference	Explanation

Schedule R (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: INVESTING CHARITABLE CAPITAL TO CREATE ECONOMIC, SOCIAL, AND SPIRITUAL TRANSFORMATION
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	2
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	2
5	Total number of individuals employed in calendar year 2024 (Part V, line 2a) ......	5	0
6	Total number of volunteers (estimate if necessary) .............	6	3
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	162,397

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	141,104,649	156,428,484
9	Program service revenue (Part VIII, line 2g) .........	1,011,675	927,665
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	-4,187,722	1,999,343
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	69,098	12,842
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	137,997,700	159,368,334
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	17,765,312	34,142,936
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	0	0
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	25,047,113	12,960,172
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	42,812,425	47,103,108
19	Revenue less expenses. Subtract line 18 from line 12.......	95,185,275	112,265,226
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	306,507,177	431,058,809
21	Total liabilities (Part X, line 26).............	0	0
22	Net assets or fund balances. Subtract line 21 from line 20.....	306,507,177	431,058,809

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 47,102,963 including grants of $ 34,142,936 ) (Revenue $ 940,507 )
	THE ORGANIZATION FUNDS PROJECTS WITH A CHARITABLE PURPOSE OR A MISSION THAT ALIGNS WITH CHARITABLE CAUSES IN ADDITION TO PROVIDING A RETURN FOR FUTURE GRANTMAKING ACTIVITIES TO CHARITABLE ORGANIZATIONS.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses47,102,963

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)			(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) IMPACT INVESTING CHARITABLE FDN INC TRUSTEE	1.00 .................	X		0	0	0
(2) DELAWARE TRUST COMPANY TRUSTEE	1.00 .................	X		0	0	0
(3) AIMEE MINNICH...................................................................... CIO	1.00 ................. 40.00		X	0	323,285	25,541

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	0	323,285	25,541

(A) Name and business address	(B) Description of services	(C) Compensation





2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0

1a	Federated campaigns..		1a
b	Membership dues..		1b
c	Fundraising events..		1c
d	Related organizations		1d	151,239,420
e	Government grants (contributions)		1e

f	All other contributions, gifts, grants, and similar amounts not included above		1f	5,189,064

g	Noncash contributions included in lines 1a - 1f:$		1g	5,189,064

h Total. Add lines 1a-1f.......		156,428,484

		Business Code
2a	PROGRAM INTEREST INCOME	541990	907,665	907,665
b	PROGRAM RENTAL INCOME	531120	20,000	20,000
c
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		927,665

3 Investment income (including dividends, interest, and othersimilar amounts) ......			7,999,658			7,999,658
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
			(i) Real	(ii) Personal
6a	Gross rents	6a
b	Less: rental expenses	6b
c	Rental income or (loss)	6c
d	Net rental income or (loss).......
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a
b	Less: cost or other basis and sales expenses	7b	6,000,315
c	Gain or (loss)	7c	-6,000,315
d	Net gain or (loss).........			-6,000,315			-6,000,315
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..

Business Code
11a	UBIT TAX REFUNDS		541900	12,842	12,842
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			12,842
12	Total revenue. See instructions.....			159,368,334	940,507	0	1,999,343

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	34,142,936	34,142,936
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....
9	Other employee benefits .......
10	Payroll taxes ...........
11	Fees for services (non-employees):
a	Management ......
b	Legal .........
c	Accounting ...........
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	280	280
12	Advertising and promotion ....
13	Office expenses .......	161	16	145
14	Information technology ......
15	Royalties ..
16	Occupancy ...........	6,240	6,240
17	Travel ............
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	15,579	15,579
23	Insurance ...
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	EQUITIES WRITTEN OFF	8,397,683	8,397,683
b	LOANS FORGIVEN	3,189,884	3,189,884
c	LOANS WRITTEN OFF	942,542	942,542
d	FEDERAL/STATE TAXES PAI	256,523	256,523
e	All other expenses	151,280	151,280
25	Total functional expenses. Add lines 1 through 24e	47,103,108	47,102,963	145	0
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			225,095	1	99,583
2	Savings and temporary cash investments .........				2
3	Pledges and grants receivable, net ......				3
4	Accounts receivable, net .............				4	117,626
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........			15,785,959	7	16,520,346
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......				9
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	504,043
b	Less: accumulated depreciation	10b	109,056	410,566	10c	394,987
11	Investments—publicly traded securities .				11
12	Investments—other securities. See Part IV, line 11 .....			192,353,684	12	262,599,026
13	Investments—program-related. See Part IV, line 11 ..			96,122,660	13	149,861,839
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			1,609,213	15	1,465,402
16	Total assets. Add lines 1 through 15 (must equal line 33)...			306,507,177	16	431,058,809

17	Accounts payable and accrued expenses .....		17
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D		25
26	Total liabilities. Add lines 17 through 25..	0	26	0

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	306,507,177	27	431,058,809
28	Net assets with donor restrictions ...........		28
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	306,507,177	32	431,058,809
33	Total liabilities and net assets/fund balances ........	306,507,177	33	431,058,809

1	Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
2	Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to separately file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
3	Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471). . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
4	Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621) .	Yes	No
5	Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships (see Instructions for Form 8865). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
6	Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No