2015-08-17T16:10:58-05:00 2014-12-31 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2014-01-01 363656836 IFF IFF 3126290060 ONE NORTH LASALLE STREET No 700 CHICAGO IL 60602 Joe Neri CEO 3126290060 2015-08-17 1 Wayne Harder P00294296 3126343400 2014 2016-03-07 17:11:31Z Joe Neri ONE NORTH LASALLE STREET No 700 CHICAGO IL 60602 26387633 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, and research services to nonprofits. 13 13 87 40 0 0 17182933 12546914 11719425 13011872 69717 -2680 29019 -10313 29001094 25545793 5857260 7398973 0 0 5484567 6616230 0 0 304094 7956834 9196639 19298661 23211842 9702433 2333951 260057927 275839688 181386607 197498161 78671320 78341527 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 10045898 794303 11364961 Capital Solutions: This program makes below market loans to nonprofit agencies. Since 1990, the total loan volume reached $506.9 million which includes 1,190 loans closed that has leveraged over $1.6 billion in capital. Since 1990, these loans have assisted with the renovation or construction of 15.8 million square feet and created 5,191 child care slots, 36,398 student seats, 205,484 new patients/visits at health care clinics, 6,394 affordable and supportive/special needs housing units, and 1,477 beds. In addition, the loans have helped to employ 58,931 full time equivalents and over 3 million clients have been served by these borrowers. 9983923 6604670 1324568 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. Since 1997, 637 projects have been worked on in this program totaling $304.9 million in development cost and has funded the renovations or construction of 2 million square feet. In addition, this program has created 4,069 child care slots, 6,380 charter school seats, 61,296 new patients/visits at health care clinics, and developed 200 housing units and 70 beds. 619323 0 0 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 nonporfit 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. 583526 0 30362 Community Strategies Initiative: IFF has worked to strengthen nonprofits and their communities through 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 through analysis of 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, and housing to child care, healthy food access and job training. 439710 0 196218 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 needs assessments that measure the supply of and 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 person 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. 160461 0 0 School Services: We work with charter schools and charter school authorizers to provide information that helps pinpoint the geographic areas where new quality schools, more resources, and public policy changes will have the most impact. 1183697 0 226580 21832841 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 48 0 1 87 1 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 1 1 IL X Lloyd Shields 3126290060 One North LaSalle Street Suite 700 Chicago IL 60602 Amir Kirkwood Board Member 1.00 X 0 0 0 Craig Munro Board Member 1.00 X 0 0 0 David Crawford Chair 1.00 X X 0 0 0 Diane Williams Board Member 1.00 X 0 0 0 Joe Antolin Board Member 1.00 X 0 0 0 John Sassaris Board Member 1.00 X 0 0 0 Kristine Garrett Secretary & Treasurer 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 Tyson Vice Chair 1.00 X X 0 0 0 Steve Kent Board Member 1.00 X 0 0 0 Joe Neri CEO 40.00 X 226500 0 13282 Lloyd Shields Assistant Secretary & CFO 40.00 X 166349 0 14357 Trinita Logue President 40.00 X 182635 0 76676 Matt Roth COO 40.00 X 172485 0 15829 Terry Pieniazek VP of Real Estate Services 40.00 X 152788 0 15342 Jose Cerda III VP of Corp Comm & Public Affairs 40.00 X 127200 0 4475 Kirby Burkholder Executive Director - Eastern Region 40.00 X 134258 0 12750 Louise Tuck VP of Capital Solutions 40.00 X 124563 0 6539 Robin Schabes VP of Community Strategies 40.00 X 141340 0 13232 Tanya Vartivarian Senior Director - Structured Finance 40.00 X 121507 0 12211 1549625 0 184693 10 0 1 0 Baker Tilly Virchow Krause LLP 10 Terrace Ct Madison WI 53707 NMTC Consultants 430000 McGladrey LLP 5155 Pavsphere Circle Chicago IL 60674 Audit & Tax Prep Fees 127225 Mobium Intergrated Branding LLC PO Box 8435 Carol Stream IL 60197 Marketing & Branding Service 109610 Sidley Austin LLP 1 S Dearborn St Chicago IL 60603 Legal Services 104101 4 6513474 6033440 12546914 Interest on Loans 522291 9887986 9887986 Consulting Contract Fees 523930 1257938 1257938 Syndication Fees 523920 1040000 1040000 Rental Income 531110 371924 371924 Loan Origination Fees 522291 204907 204907 249117 249117 13011872 82770 82770 131527 141840 -10313 -10313 -10313 614550 700000 -85450 -85450 -85450 25545793 12916109 0 82770 7398973 7398973 1086669 602302 334598 149769 4614445 4142026 408149 64270 155409 111541 41598 2270 307228 251622 50812 4794 452479 385381 55910 11188 43528 43528 240438 238495 1588 355 134725 116592 15119 3014 66375 66375 1071011 1004190 31108 35713 45072 45018 45 9 464385 422392 35684 6309 37589 34688 2396 505 934870 864690 57084 13096 257552 247539 7273 2740 94158 84214 5918 4026 5217835 5217835 422499 398507 19865 4127 71682 67730 3265 687 Dues,Books & Subscripti 92917 87278 4431 1208 2003 1925 64 14 23211842 21832841 1074907 304094 1420 307 32994253 25307717 8535810 3562478 562911 378351 183229453 206360858 133368 414933 16841904 2952717 10311364 13889187 18263496 18125620 4850076 6547446 1175776 1252791 260057927 275839688 2117512 2779577 4983756 7973204 2500000 7000000 171785339 179745380 181386607 197498161 X 22175407 26166093 56495913 52175434 78671320 78341527 260057927 275839688 X 2333951 -51207 -2612537 X 0 1 X 1 1 1 X 4734933 16929890 29962036 17182933 12546914 81356706 4734933 16929890 29962036 17182933 12546914 81356706 7430484 73926222 63070 160172 178259 190228 214297 806026 -333 -333 82162399 30915834 0.89980 0.86710 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 140359 140359 23071483 23211842 1000000 250000 0 0 794704 1000000 1000000 1000000 3794704 5692056 76065 42539 51891 140359 310854 198676 250000 250000 250000 948676 1423014 9584675 3141229 2612537 10113367 10429111 635602 1480038 9584675 10224876 6818184 6613949 10429111 7341523 4906000 2022647 10224876 8645860 75000 1379337 7341523 1.00000 0 0 13598071 214594 13383477 441706 354528 87178 2802127 2383595 418532 13889187 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 2014. 0 Primo Center for Women and Children 4241 W Washington Blvd Chicago IL 60624 362966006 501(c)(3) 2106088 book 1 property transferred Housing for group/supportive homes Inspiration Corporation 4554 N Broadway Suite 207 Chicago IL 60640 363673980 501(c)(3) 1175984 book 1 property transferred Housing for group/supportive homes Breaking Ground Inc 3501 W Fillmore Chicago IL 60624 363860188 501(c)(3) 1144343 Cost for 13 properties being acquired/rehabbed for group/supportive homes Mecca Companies Inc 17900 Dixie Highway Suite 2 Homewood IL 60430 260658513 984061 Cost for 16 properties being acquired/rehabbed for group/supportive homes North West Housing Partnership 1701 E Woodfield Rd Suite 203 Schaumburg IL 60173 363715417 501(c)(3) 675507 Cost for 8 properties being acquired/rehabbed for group/supportive homes Nonprofits Assistance Fund 2801 21st Ave South Suite 210 Minneapolis MN 55407 411916337 501(c)(3) 606687 Loan Capital to be able to make loans Chicago South Suburbs Habitat for Humanity 139 W Joe Orr Road Chicago Heights IL 60411 363582576 501(c)(3) 342390 Cost for 7 properties being acquired/rehabbed for group/supportive homes KAT's Properties LLC 17300 S Greenwood South Holland IL 60473 272307342 134601 Cost for 2 properties being acquired/rehabbed for group/supportive homes Pershing King Drive LLC 100 E 111th Street 10th Floor Chicago IL 60628 383930931 100000 Support to establish a Community Engagement Plan and a Grocery store to help provide healthy foods to the community Chicago Metropolitan Agency for Planning 233 S Wacker Drive Suite 800 Chicago IL 60606 134331367 State of Illinois 29078 Return of cash reserves for loan losses on energy loans The Reinvestment Fund 1700 Market Street 19th Floor Philadelphia PA 19103 232331946 501(c)(3) 26538 Reimbursement of legal cost associated with the US Treasury's Guaranteed Bond Program Oak Park Regional Housing Center 1041 South Boulevard Oak Park IL 60302 237181388 501(c)(3) 25009 Housing consulting for project development Neighborhood Housing Services of Chicago Inc 1279 N Milwaukee Ave 4th Floor Chicago IL 60622 237443009 501(c)(3) 16687 Housing consulting for project development Capital Impact Partners 2011 Crystal Drive Suite 750 Arlington VA 22202 521290127 501(c)(3) 16000 Reimbursement of legal cost associated with the US Treasury's Guaranteed Bond Program Low Income Investment Fund 50 California Street Suite 2900 San Francisco CA 94111 942952578 501(c)(3) 16000 Reimbursement of legal cost associated with the US Treasury's Guaranteed Bond Program 12 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 1 0 0 0 0 0 0 0 0 Joe Neri CEO 210000 0 16500 0 0 0 12235 0 1047 0 239782 0 0 0 Lloyd Shields Assistant Secretary & CFO 166349 0 0 0 0 0 8391 0 5966 0 180706 0 0 0 Trinita Logue President 182635 0 0 0 0 0 60916 0 15760 0 259311 0 0 0 Matt Roth COO 172485 0 0 0 0 0 9862 0 5967 0 188314 0 0 0 Terry Pieniazek VP of Real Estate Services 152788 0 0 0 0 0 7992 0 7350 0 168130 0 0 0 Robin Schabes VP of Community Strategies 141340 0 0 0 0 0 7265 0 5967 0 154572 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. Part I, Line 4a Four weeks of severance pay was paid to Lucy Tuck, VP of Capital Solutions 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, Pay Scale.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, and Vice Presidents of Lending, Real Estate, and Community Strategies. 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 -2,612,537. Home First Illinois LLC One North LaSalle Street No 700 Chicago IL 60602 Real estate developing and nonprofit ownership of property for individuals IL 94344 11065693 IFF IFF CILA Lease Program LLC One North LaSalle Street No 700 Chicago IL 60602 Real estate ownership for leasing to nonprofits for group homes IL 55201 2146615 IFF IFF Pay for Success I LLC One North LaSalle Street No 700 Chicago IL 60602 Program administrator for Social Impact Bond program with City of Chicago IL 356860 2517836 IFF IFF Waukegan Market LLC One North LaSalle Street No 700 Chicago IL 60602 Developer and ownership for leasing a grocery store in a food desert IL 1054142 1121589 IFF IFF Rockford Market LLC One North LaSalle Street No 700 Chicago IL 60602 Developer and ownership for leasing a grocery store in a food desert IL 288200 399275 IFF Home First LLC One North LaSalle Street No 700 Chicago IL 60602 Low income housing IL -1947 10389 IFF Community Living Initiative LLC One North LaSalle Street No 700 Chicago IL 60602 Real Estate developer and nonprofit ownership of property for individuals IL -1164 24607 IFF Access Peoria LLC One North LaSalle Street No 700 Chicago IL 60602 Real Estate developer and nonprofit ownership of property for individuals IL 1025185 1526021 IFF IFF Real Estate Services LLC One North LaSalle Street No 700 Chicago IL 60602 Real Estate consulting & developing for nonprofits IL -924676 500686 IFF IFF Housing LLC One North LaSalle Street No 700 Chicago IL 60602 Real Estate consulting and developing for nonprofits IL 17356 4159640 IFF Access Housing I LLC One North LaSalle Street No 700 Chicago IL 60602 Low income housing IL 312216 3800968 Access Housing I MM LLC IFF Capital III LLC One N LaSalle St Ste 700 Chicago IL 60602 900802979 Lending IL N/A Related 10 399 0 1 0.00010 IFF Capital IV LLC One N LaSalle St Ste 700 Chicago IL 60602 800792148 Lending IL N/A Related 3 500 0 1 0.00010 IFF Capital V LLC One N LaSalle St Ste 700 Chicago IL 60602 900803072 Lending IL N/A Related 46 1576 0 1 0.00010 IFF Capital VI LLC One N LaSalle St Ste 700 Chicago IL 60602 800792163 Lending IL N/A Related 1 1000 0 1 0.00010 IFF Capital VII LLC One N LaSalle St Ste 700 Chicago IL 60602 900803093 Lending IL N/A Related 1001 0 1 0.00010 IFF Capital VIII LLC One N LaSalle St Ste 700 Chicago IL 60602 800792180 Lending IL N/A Related 600 0 1 0.00010 IFF Capital IX LLC One N LaSalle St Ste 700 Chicago IL 60602 383933327 Lending IL N/A Related 600 0 1 0.00010 Chase NMTC Erie Elementary Investment Fund LLC One N LaSalle St Ste 700 Chicago IL 60602 364738879 Lending DE N/A Related -4 1359 0 1 0.00010 IFF Capital II LLC One N LaSalle St Ste 700 Chicago IL 60602 205277860 Lending IL N/A Related 242 1 1 0.00100 Chase NMTC II LLC One N LaSalle St Ste 700 Chicago IL 60602 205647038 Lending DE N/A Related -102 0 1 0.00100 IFF NMTC Senior Lender LLC 911 Washington Ave Suite 203 St Louis MO 63101 274447027 Lending MO IFF C 404023 6817846 1.00000 1 Access Housing I MM LLC One N LaSalle Suite 700 Chicago IL 60602 611706824 Low Income Housing IL IFF C 156108 3801391 1.00000 1 1 1 0 1 0 0 0 1 0 0 0 1 0 1 1 0 0 0 0 IFF NMTC Senior Lender LLC A 386498 Cash Value Chase NMTC II LLC A 15140 Cash Value IFF Capital VI LLC B 1000 Cash Value IFF Capital VII LLC B 1000 Cash Value IFF Capital VIII LLC B 600 Cash Value IFF Capital IX LLC B 600 Cash Value Access Housing I MM LLC B 4250 Cash Value Chase NMTC II LLC D 56000 Cash Value Access Housing I LLC D 3766708 Cash Value IFF Capital II LLC H 5416619 Cash Value