A solution-processable material for the fabrication of optical reflector and organic memory device is disclosed having a donor-acceptor system consisting of a boron(III) moiety as the electron acceptor unit. More specifically, described herein is the utilization of boron(III)-containing donor-acceptor compounds having a chemical structure represented by the following general formula (I) as active material for the fabrication of optical reflectors and organic memory devices. wherein B is a boron atom; each boron atom can attach optionally one or two of the X1, X2, X3 and X4 and two of the Y1, Y2, Y3, and Y4; X1, X2, X3 and X4 are independently a heteroatom or carbon atom, where the heteroatom or group can be F, Cl, Br, I, or OR, and R is a substituent on specific heteroatom or carbon atom which can be selected from alkyl or aromatic groups; Y1, Y2, Y3, and Y4 are independently a heteroatom, where the heteroatom or group can either be O, S, Se, Ge, Te, PR, or NR, and R is a substituent on specific heteroatom or carbon atom which can be selected from alkyl or aromatic groups; Z1, Z2, Z3, and Z4 are cyclic structure derivatives; D1, D2 and D3 are optionally alkyl substituted aromatic groups; and n and m can optionally be any integer.