The 2024 Annual Report and Statement of Financial Condition of the Life Insurance Community Investment Initiative, LLC highlights the organization's commitment to housing, community facilities, and economic development in Massachusetts. As of December 31, 2024, the initiative has invested over $747 million since its inception, with a recent commitment of $96.3 million from life insurance company investors to extend the fund until 2033. The report includes detailed information on qualified investments, regional meetings, and certified financial statements, ensuring compliance with the requirements set forth in Section 2(e) of Chapter 259 of the Acts of 1998.
Key insertions in the report include a list of participating life insurance companies and their capital contributions, as well as details on qualified investments and interim investments. The report also outlines the regional meetings held across various regions in Massachusetts and provides a certificate confirming that investments comply with legislative provisions. Notably, the report emphasizes the initiative's focus on affordable housing and community development projects, showcasing specific investments made in various communities throughout the state.