Dear Friends and Partners,

After 15 years as CEO of Broadstreet Impact Services, I am stepping down from my role to pursue new challenges. It has been the honor of a lifetime to help grow this organization from its founding into a nationally respected leader in community-centered finance. I believe deeply in Broadstreet, in our mission and in our team, and I am confident in our continued success.

Steve Petsos, Broadstreet’s president, will take over leadership of the firm effective July 1, 2025, and I will remain on hand through the end of the year. As you may know, Steve was elevated to president last summer, having previously served as Broadstreet’s chief operating officer and, earlier, senior vice president for business development. For 13 years, he has served as my close partner in leading this work — shaping strategy, strengthening relationships, and delivering results with integrity and purpose. I couldn’t be more confident in his leadership, nor in that of the rest of our senior team.

Given consistent leadership, we expect this to be a seamless transition. Our management and staff will continue Broadstreet’s momentum of recent years, as we expanded our fund management business, launched fund administration and impact management business lines, and deepened our decades long work in the New Markets Tax Credit space. With more than $2 billion and 100 funds either managed or administered by Broadstreet, the organization is on solid ground.

Last year, when we celebrated Broadstreet’s 20^th anniversary, I found that while I was a bit nostalgic about the work that brought us to that point, I was mostly hopeful about the organization’s future and the potential for impact around the country. “Our vision is clear,” I wrote then, “drive capital at scale to create just, healthy and prosperous communities.”

That remains Broadstreet’s guiding principle. The Broadstreet team will continue to invite new investors and partners to this work, continue to bridge gaps and expand opportunities for families, and continue to contribute to the well-being of American communities, all while meeting the financial objectives of our fund partners and investors.

Thank you for your continued belief in Broadstreet and LISC's mission — and for the partnership, inspiration, and trust you’ve extended to me over the years. I’m excited for what lies ahead, both for Broadstreet and for the communities we serve together.

With appreciation,
Kevin