NES Financial Releases Second Generation Economic and Social Impact Reporting to Its Opportunity Zone Administration Solution

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Solution provides regular progress monitoring for investors and fund managers

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The latest version of our solution will help stakeholders evaluate social impact in Opportunity Zones across the US.

NES Financial, a JTC Company (LON: JTC), announced that the second generation version of its economic and social impact reporting capabilities are now available for all of its Opportunity Zone Fund clients.

The latest release helps to provide a clearer picture of the positive impact that an Opportunity Zone Fund is making in a community. With this latest version, Fund Managers and their investors can establish a community baseline on key metrics prior to investment, project the economic and social impact on the community based on the specific attributes of the investment, and track the progress towards those projections as the project develops.

NES Financial is continuing to work in collaboration with Howard W. Buffett and his advisory firm, Global Impact LLC, by incorporating Impact Rate of Return®, or iRR®. iRR® serves as a key performance indicator enabling organizations to consistently calculate and report how efficiently their investments deliver social and environmental impact.

“Residents and businesses in over 8,700 Opportunity Zones across the United States are in need of bringing much-needed economic growth to their neighborhoods in a responsible and measurable way,” said Buffett, president of Global Impact LLC. “The purpose of this impact analysis is to provide investors and other stakeholders with objective context, including information from census tracts associated with a given OZ project.”

“The heart of the Opportunity Zones initiative is to make meaningful economic and social impact in distressed neighborhoods across America. With the stresses caused by this pandemic, the OZ initiative is the right solution at the right time,” said Reid Thomas, Chief Revenue Officer and Managing Director of NES Financial, a JTC Company. “The latest version of our solution will help stakeholders evaluate social impact in Opportunity Zones across the US.”

Qualified Opportunity Zones were created by bipartisan Congressional legislation in 2017 to help incentivize economic development and growth in communities previously overlooked by investors. The initiative has grown considerably, with recently released final Treasury regulations and multiple legislative proposals to require additional reporting.

Opportunity Zone Funds are qualified private-sector investment vehicles that invest at least 90 percent of their capital into Opportunity Zones (OZs) — designated economically distressed areas located across the US.. The tax incentives associated with OZ funds are intended to foster long-term investment into these areas, with benefits accruing to investors currently and with additional benefits accruing at 5-, 7- and 10-year milestones.

The NES Financial Opportunity Zone Fund Administration Solution is the only purpose-built OZ fund administration solution that addresses all the elements of the initiative and leverages technology to streamline fund administration to enhance the OZ fund experience and attractiveness for investors, facilitate compliance, and ultimately, help the Opportunity Zone marketplace do the good it was meant to do.

About NES Financial
NES Financial, a JTC Company, is a multi-jurisdictional provider of fund, corporate and private client services. The company administers more than $130 billion in assets and employs more than 900 people worldwide. A leader in specialty financial administration, NES Financial serves markets characterized by high administrative complexity, elevated transaction security needs and challenging compliance requirements.

As the North American division of JTC, NES Financial is the leading provider of third-party administrative solutions to US impact investment sectors, including Opportunity Zones and the EB-5 Program, as well as to US private equity fund managers and 1031 exchange participants. The company’s technology-driven solutions streamline new best practices in these markets by simplifying specialized financial transactions, reducing back-office overhead, curtailing fraud and abuse, and offering security, transparency and regulatory compliance during each step of an investment’s life cycle.

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About Global Impact LLC
Global Impact LLC is an advisory firm that advocates for a more informed, inclusive, accountable, and effective approach for accomplishing greater societal impact. The company has been serving clients for over a decade, working with organizations spanning the public, private, and philanthropic sectors. Global Impact provides management consulting based on the Social Value Investing® framework, and delivers analysis on the combined financial and social performance of grants and investments, as well as advisory services on ESG strategy. The firm utilizes a proprietary Impact Rate of Return® methodology to estimate, track, analyze, and report on social, environmental, economic, and governance-related impact.

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