2016-08-15T16:18:52-05:00 2015-12-31 420714325 RSM US LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2015-01-01 363656836 IFF IFF 3126290060 333 South Wabash Avenue No 2800 CHICAGO IL 60604 Yolanda Daniel CFO 3126290060 2016-08-12 1 Wayne Harder P00294296 3126343400 2015 2016-12-15 16:53:06Z X Joe Neri 333 South Wabash Avenue No 2800 CHICAGO IL 60604 31097747 0 X WWW.IFF.ORG X 1988 IL IFF will provide comprehensive solutions with transformational outcomes in low-income and special needs communities throughout the Midwest by offering lending, real estate, community development, and research services to nonprofits. 14 14 101 40 0 0 12546914 11620062 13011872 17240958 -2680 261184 -10313 73753 25545793 29195957 7398973 5820522 0 0 6616230 7374233 0 0 361202 9196639 11324330 23211842 24519085 2333951 4676872 275839688 329340059 197498161 246554769 78341527 82785290 X IFF is a nonprofit organization that offers lending, facilities planning, real estate development and research services to Midwest nonprofits serving disadvantaged populations. IFF services help nonprofits complete their real estate-related projects and strengthen their financial, operational and management capacity to meet their missions. IFF works with nonprofits, government agencies, and philanthropic stakeholders to deliver innovative solutions to underserved communities and to help achieve their community development goals. 0 0 11982805 1060679 15120951 Capital Solutions: This program makes below market loans to nonprofit agencies. Since 1990, the total loan volume reached $598.1 million which includes 1,307 loans closed that has leveraged over $1.8 billion in capital. Since 1990, these loans have assisted with the renovation or construction of 17.3 million square feet and created 5,191 child care slots, 4,656 student seats, 221,599 new patients/visits at health care clinics, 7,293 affordable and supportive/special needs housing units, and 2,333 beds. In addition, the loans have helped to employ 62,644 full time equivalents and over 4.7 million clients have been served by these borrowers, including 458.9 thousand clients with disabilities. 9021025 4759843 2145532 Real Estate Services Program: This program helps nonprofits make better real estate and space decisions to support growth planning, program changes, and financial and organizational capacity. The goals and objectives of each nonprofit client determine IFF's scope of consulting services, from advising on real estate strategies to solving specific need for additional or new space. Clients choose from a comprehensive menu of fully integrated services based on a proposal tailored to specific needs, all at below-market fees. Services provided include feasibility assessments, facility assessments, strategic facilities plans, site search and due diligence, and owner's representative services. This program also initiates, coordinates, develops, and owns real estate projects that respond to community needs, create jobs, and transforms low-income communities in the Midwest. It acquires, owns, and manages community-integrated housing for low-income disabled adults, and redeveloping foreclosed properties near public transit into affordable homes and apartments. Since 1997, 708 projects have been worked on in this program totaling $349.0 million in development cost and has funded the renovations or construction of 2.2 million square feet. In addition, this program has created 4,069 child care slots, 9,244 charter school seats, 61,296 new patients/visits at health care clinics, and developed 274 housing units and 70 beds. 687172 46024 Community Development Initiatives: IFF has worked to strengthen nonprofits and their communities through our expertise in finance, real estate planning and development, and research. IFF will work with local and state government, nonprofit agencies, foundations, and other community groups to help achieve their community development goals by assessing community conditions by analyzing demographic data and trends, inventorying existing community assets and identifying gaps, evaluating housing, human services, education, health care, investments, and job environments, and providing a community conditions analysis to guide work with stakeholders in developing strategic plans and prioritizing investments. IFF will develop solutions with conceptual projects and programs with strategic partners and facilitate community partnerships by bringing relevant parties together by facilitating partnerships with strategic stakeholders and potential collaborators. Through this work, IFF has helped address a broad range of community needs - from health care, education, housing, child care, healthy food access, and job training. 681382 1800 Corporate Communication and Public Affairs: IFF's corporate communications and public affairs department advances IFF's priorities in the areas of community development finance, the nonprofit sector, charter schools, early care and education, health care and housing. It also supports the growth of IFF in the Midwest. Government policy and spending decisions have a big impact on our clients operating environment and the health of the communities they serve. We engage in public policy to make sure that these decisions are based on solid data, knowledge of the nonprofit sector, and hands-on experience in community development. Our initiatives have informed state and local government efforts to expand quality child care in high-need areas, and led to new models for providing affordable, community-integrated housing to low-income persons with disabilities. 543204 200150 Research Program: We provide data and analysis to help nonprofits, foundations and government agencies make better decisions about resource allocation and real estate investment. Our goal is to ensure that investments and programs are targeted to where they are needed the most. We are national leaders in the needs assessments that measure the supply of demand for quality schools in urban school districts. Our initiatives have informed state and local government efforts to expand quality child care in high-need areas, and led to new models for providing affordable, community-integrated housing to low-income persons with disabilities. Research projects include needs assessments by service and geography, assessment of organizational capacity for existing or new services, qualitative analysis of nonprofit service delivery and client experience, program evaluations, nonprofit financial trends, financial health, and financial management, analysis of population and economic trends, data to support strategic planning, and mapping and analysis of program data. 314197 4200 School Services: We work with charter schools and charter school authorizers to proivde information that helps pinpoint geographic ares where new quality schools, more resources, and public policy changes will have the most impact. 1538783 206150 23229785 1 1 0 1 0 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 61 0 1 101 1 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 IL X Yolanda Daniel 3126290060 333 South Wabash Avenue No 2800 CHICAGO IL 60604 Amir Kirkwood Board Member 1.00 X 0 0 0 Craig Munro Board Member 1.00 X 0 0 0 George Surgeon Board Member 1.00 X 0 0 0 Joe Antolin Board Member 1.00 X 0 0 0 John Sassaris Secretary & Treasurer 1.00 X X 0 0 0 Kristine Garrett Vice Chair 1.00 X X 0 0 0 Meredith O'Connor Board Member 1.00 X 0 0 0 Michelle Nettles Board Member 1.00 X 0 0 0 Mohini Chopra Board Member 1.00 X 0 0 0 Ramon Cepeda Board Member 1.00 X 0 0 0 Rodney Jones-Tyson Chair 1.00 X X 0 0 0 Steve Kent Board Member 1.00 X 0 0 0 Joseph Gomez Board Member 1.00 X 0 0 0 Richard Klawiter Board Member 1.00 X 0 0 0 Joe Neri CEO 40.00 X 267250 0 14868 Lloyd Shields Assistant Secretary & CFO 40.00 X 173775 0 15371 Trinita Logue President 40.00 X 222982 0 13807 Jose Cerda III VP of Corp Comm & Public Affairs 40.00 X 153287 0 13854 Matt Roth COO 40.00 X 200328 0 18587 Craig Mizushima Vice President of Capital Solutions 40.00 X 169942 0 1403 Kirby Burkholder Executive Director - Easte 40.00 X 147862 0 14159 Robin Schabes VP of Community Development Initiatives 40.00 X 147036 0 14234 Tanya Vartivarian Senior Director - Structur 40.00 X 121272 0 13549 Dana Liberman Managing Director of Lending 40.00 X 121539 0 7308 David Desai-Ramirez Executive Director - Southern Region 40.00 X 123397 0 5408 1848670 0 132548 17 0 1 0 SRI International 333 Ravenswood Avenue Menlo Park CA 94025 Cnsltnts - Indpt Evaluator 192054 Metropolitan Family Services One North Dearborn Suite 1000 Chicago IL 60602 Cnsltnts - Tech Srvc Provider 171429 2 1532697 10087365 11620062 Interest on Loans 522291 11620892 11620892 Syndication Fees 523920 2100000 2100000 Consulting Contract Fees 523930 1904304 1904304 Rental Income 531110 668462 668462 Loan Origination Fees 522291 316430 316430 630870 630870 17240958 57238 57238 162231 88478 73753 73753 73753 2017258 1813312 203946 203946 203946 29195957 17518657 0 57238 5820522 5820522 2035763 1519868 381656 134239 4361346 4026699 232010 102637 131947 122638 8242 1067 334828 299198 24639 10991 510349 455316 43238 11795 93161 93161 106651 106262 286 103 83197 74808 6360 2029 48625 48625 1114368 1043150 41262 29956 27714 27683 24 7 525849 491716 25830 8303 48526 43500 3398 1628 1980777 1806647 130053 44077 311072 302976 5735 2361 144529 135109 5897 3523 6031166 6031166 589771 571024 14229 4518 94855 91620 2462 773 Dues,Books & Subscripti 122944 117082 2696 3166 1125 1015 81 29 24519085 23229785 928098 361202 307 360 25307717 31266137 3562478 2023679 378351 786604 206360858 242022463 414933 262298 31311969 3483556 13889187 27828413 18125620 17986010 6547446 5191170 1252791 1972925 275839688 329340059 2779577 4282799 7973204 13455515 7000000 7108221 179745380 221708234 197498161 246554769 X 26166093 34623071 52175434 48162219 78341527 82785290 275839688 329340059 X 4676872 -44 -233065 X 0 1 X 1 1 1 X 16929890 29962036 17182933 12546914 11620062 88241835 16929890 29962036 17182933 12546914 11620062 88241835 10704481 77537354 160172 178259 190228 214297 219469 962425 89204260 63533349 0.86920 0.89980 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 150590 150590 24368495 24519085 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 42539 51891 140359 150590 385379 250000 250000 250000 250000 1000000 1500000 18626970 5150000 5682951 18094019 22549507 190000 4112537 18626970 18609022 9442580 5502095 22549507 10224877 14998094 6613949 18609022 7341524 4906000 2022647 10224877 1.00000 0 0 27158832 556681 26602151 662646 396696 265950 3490491 2530179 960312 27828413 X Part V, Line 4: Capital to be used for loan disbursements and to cover loan losses. Part X, Line 2: In accordance with the accounting standard on Accounting for Uncertainty in Income Taxes, IFF addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, IFF may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. Examples of tax positions include the tax-exempt status of IFF and various positions related to the potential sources of unrelated business taxable income. There were no unrecognized tax benefits identified or recorded as liabilities during 2015. 0 Breaking Ground Inc 3501 W Filmore Chicago IL 60624 363860188 501(c)(3) 2291678 Cost for 23 properties being acquired/rehabbed for group/supportive homes. Northwest Housing Partnership 1701 E Woodfield Road Schaumburg IL 60173 363715417 501(c)(3) 1924756 Cost for 15 properties being acquired/rehabbed for group/supportive homes. Cincinnati Development Fund 1100 Walnut Street Cincinnati OH 45202 311256064 501(c)(3) 448933 Loan capital to be able to make loans. Nonprofits Assistance Fund 2801 21st Ave South Suite 210 Minneapolis MN 55407 411916337 501(c)(3) 418375 Loan capital to be able to make loans. Mecca Companies Inc 17900 Dixie Highway Suite 2 Homewood IL 60430 260658513 380632 Cost for 12 properties being acquired/rehabbed for groups/supportive homes. IRE Foods Inc 205 Lake Ridge Drive Collinsville IL 62234 464115524 175270 Support to establish a Community engagement plan and a grocery store to help provide healthy food to the community. Oak Park Regional Housing Center 1041 South Boulevard Oak Park IL 60302 237181388 501(c)(3) 86902 Housing consulting for project development. Chicago South Suburbs Habitat for Humanity 139 W Joe Orr Road Chicago Heights IL 60411 363582576 501(c)(3) 44136 Cost for 3 properties being acquired/rehabbed for group/supportive homes. Kat's Properties LLC 17300 S Greenwood South Holland IL 60473 272307342 31739 Cost for 2 properties being acquired/rehabbed for group/supportive homes. Chicago Metropolitan Agency for Planning 233 S Wacker Drive Suite 800 Chicago IL 60606 134331367 State of Illinois 18101 Return of cash reserves for loan losses on energy loans. 7 3 Part I, Line 2: The grantee must follow up with the organization with a report that details the use of grant funds awarded to them. X 1 1 X X X 0 0 0 0 0 0 0 0 0 Joe Neri CEO 250000 0 17250 0 0 0 13821 0 1047 0 282118 0 0 0 Lloyd Shields Assistant Secretary & CFO 173775 0 0 0 0 0 8722 0 6649 0 189146 0 0 0 Trinita Logue President 187982 0 35000 0 0 0 7161 0 6646 0 236789 0 0 0 Jose Cerda III VP of Corp Comm & Public Affairs 153287 0 0 0 0 0 7170 0 6684 0 167141 0 0 0 Matt Roth COO 200328 0 0 0 0 0 11756 0 6831 0 218915 0 0 0 Craig Mizushima Vice President of Capital Solutions 169942 0 0 0 0 0 821 0 582 0 171345 0 0 0 Kirby Burkholder Executive Director - Easte 147862 0 0 0 0 0 7454 0 6705 0 162021 0 0 0 Robin Schabes VP of Community Development Initiati 147036 0 0 0 0 0 7529 0 6705 0 161270 0 0 0 Part I, Line 1a IFF pays dues to a business club on behalf of Joe Neri. The amount is not included on his W-2 because membership to the business club is for business use only. Form 990, Part VI, Section B, line 11 IFF's tax advisors prepare the Form 990 using information provided by financial management. The completed Form 990 is reviewed by the CFO and audit committee before being provided to the full board and then filed with the IRS. Form 990, Part VI, Section B, line 12c IFF regularly and consistently monitors its conflict of interest policy by requiring prompt and full disclosure of existing or potential conflicts of interest and in addition, sends out an annual conflict of interest questionnaire to members of the Boards. In the event that a potential conflict arises, the results may be discussed with any and all individuals necessary to come to a final determination. In the instance that a conflict exists, any involved parties do not participate in the voting. The conflict is recorded in the board minutes. Form 990, Part VI, Section B, line 15 Each year the Chair of the Board appoints the compensation committee which maintains continuity of membership and also includes at least one new member. The committee conducts a review of the CEO and reviews and approves compensation for the upcoming year. This process and Board discussion is documented in the minutes. Available comparison data is used in the review process, such as an industry compensation survey done by IFF's National Trade Association, OFN, as well as the CFO Alliance. Compensation of the President and other key employees is approved by the CEO after review of performance, market conditions, and available salary guides and surveys. Materials used include The CFO Alliance, OFN Survey, Robert Half & Associates, PayScale.com, and JPMorgan Real Estate Department salary information. The salaries of the President and other key employees, besides the CEO is shared with the compensation committee and/or full board to give them an opportunity to review and opine on the total compensation for officers and key employees of IFF and to be documented in the minutes, and to show that IFF has a rebuttable presumption of reasonableness in its compensation process. Key employees besides the President and CEO were defined as the CFO, COO, Vice Presidents of Capital Solutions, Corporate Communication and Public Affairs, Lending, Real Estate and Community Development Initiatives, and Executive Directors of the Eastern and Southern Regions. Form 990, Part VI, Section C, line 19 Governing documents (e.g., by-laws), Conflict of Interest Policy and Form 990 are available to anyone upon request. IFF's annual budget, financial forecast, strategic plan and audited financial statements and the annual reports, are available to the public on IFF's website. The website also contains lists of contributors, borrowers, and clients, success stories and publications. Form 990, Part XI, line 9: Net Assets Released from Restriction -233,065. Home First Illinois LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Real estate developing and nonprofit ownership of property for individuals IL -99185 14157465 IFF IFF CILA Lease Program LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Real estate ownership for leasing to nonprofits for group homes IL 1062 2131771 IFF IFF Pay for Success I LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Program administrator for Social Impact Bond program with City of Chicago IL -192054 5597981 IFF IFF Waukegan Market LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Developer and ownership for leasing a grocery store in a food desert IL 2326727 3457473 IFF IFF Rockford Market LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Developer and ownership for leasing a grocery store in a food desert IL 1238202 3211180 IFF Home First LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Low income housing IL 121239 1504370 IFF Community Living Initiative LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Real Estate developer and nonprofit ownership of property for individuals IL 901 440904 IFF Access Peoria LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Real Estate developer and nonprofit ownership of property for individuals IL 33850 2985455 IFF IFF Real Estate Services LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Real Estate consulting & developing for nonprofits IL -1144638 1067264 IFF IFF Housing LLC 333 South Wabash Ave Suite 2800 Chicago IL 60602 Real Estate consulting and developing for nonprofits IL 51683 3820944 IFF Access West Cook I LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Low income housing IL 0 0 Access Housing I MM LLC IFF Von Humboldt LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 Real Estate Developer and ownership of former school building to repurpose i IL 0 3207359 IFF IFF Capital III LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 900802979 Lending IL N/A Related 11 399 0 1 0.00010 IFF Capital IV LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 800792148 Lending IL N/A Related 2 497 0 1 0.00010 IFF Capital V LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 900803072 Lending IL N/A Related 46 1576 0 1 0.00010 IFF Capital VI LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 800792163 Lending IL N/A Related 4 999 0 1 0.00010 IFF Capital VII LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 900803093 Lending IL N/A Related 4 999 0 1 0.00010 IFF Capital VIII LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 800792180 Lending IL N/A Related 3 600 0 1 0.00010 IFF Capital IX LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 383933327 Lending IL N/A Related 1 601 0 1 0.00010 Chase NMTC Erie Elementary Investment Fund LLC 333 South Wabash Ave Suite 2800 Chicago DE 60604 364738879 Lending DE N/A Related 0 1 0.00010 IFF Capital X LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 320442401 Lending IL N/A Related 3 1099 0 1 0.00010 IFF Capital XI LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 320442486 Lending IL N/A Related -1 499 0 1 0.00010 IFF Capital XII LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 300833152 Lending IL N/A Related 1000 0 1 0.00010 IFF Capital XIV LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 383933793 Lending IL N/A Related 1 701 0 1 0.00010 IFF Capital XV LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 611739817 Lending IL N/A Related 700 0 1 0.00010 IFF Capital XVI LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 364788143 Lending IL N/A Related 651 0 1 0.00010 Access Housing I LLC 333 South Wabash Ave Suite 2800 Chicago IL 60604 800902424 Low Income Housing IL N/A Related 0 1 0.00010 IFF NMTC Senior Lender LLC 911 Washington Ave Suite 203 St Louis MO 63101 274447027 Lending MO IFF C 405610 6847398 1.00000 1 Access Housing I MM LLC 333 South Wabash Avenue Suite 2800 Chicago IL 60604 611706824 Low Income Housing IL IFF C 209321 1.00000 1 1 1 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 IFF NMTC Senior Lender LLC A 389272 Cash Value IFF Capital X LLC B 1100 Cash Value IFF Capital XI LLC B 500 Cash Value IFF Capital XII LLC B 1000 Cash Value IFF Capital XIV LLC B 700 Cash Value IFF Capital XV LLC B 700 Cash Value IFF Capital XVI LLC B 650 Cash Value Access Housing I MM LLC B 212293 Cash Value Part 1, Primary Activity Home First Illinois - Real Estate Developer and nonprofit ownership of property for disadvantaged individuals IFF CILA Lease Program - Real Estate Developer and nonprofit ownership for leasing to nonprofits for group homes IFF Pay for Success I - Program administrator for Social Impact Board program with City of Chicago IFF Waukegan Market - Real Estate Developer and ownership for leasing a grocery store in a food desert IFF Rockford Market - Real Estate Developer and ownership for leasing a grocery store in a food desert IFF Von Humboldt - Real Estate Developer and ownership of former school building to repurpose it into a community center and housing for teachers Home First - Low Income housing Community Living Initiative - Real Estate Developer and nonprofit ownership for leasing to nonprofits for group homes Access Peoria - Real Estate Developer and nonprofit ownership for leasing to nonprofits for group homes IFF Real Estate Services - Real Estate consulting and developing for nonprofits IFF Housing - Real Estate consulting and developing for nonprofits Access West Cook I - Low Income housing ... Direct Controlling entity: Access West Cook I MM, LLC