2014-11-11T09:00:30-06:00 2013-12-31 420714325 MCGLADREY LLP 1 SWACKER DRIVE STE 800 CHICAGO IL 60606 990 2013-01-01 363656836 IFF IFF 3126290060 ONE NORTH LASALLE STREET No 700 CHICAGO IL 60602 Joe Neri CEO 3126290060 2014-10-30 1 Wayne Harder P00294296 3126343400 2013 2015-11-30 17:44:51Z Joe Neri ONE NORTH LASALLE STREET No 700 CHICAGO IL 60602 29092586 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. 14 14 81 40 0 0 29962036 17182933 11077140 11719425 74864 69717 -32253 29019 41081787 29001094 7249387 5857260 0 0 5302192 5484567 0 0 244597 7396059 7956834 19947638 19298661 21134149 9702433 234334903 260057927 163760642 181386607 70574261 78671320 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 8760682 619661 10346400 Capital Solutions: This program makes below market loans to nonprofit agencies. Since 1990, the total loan volume reached $456 million which includes 1,114 loans closed that have resulted in total cost savings of $24.3 million for clients. Since 1990, these loans have assisted with the renovation or construction of 14.4 million square feet and created 5,080 child care slots, 36,586 student seats, 197,508 new patients/visits at health care clinics, 5,752 affordable and supportive/special needs housing units, and 1,327 beds. In addition, the loans have helped to employ 54,795 full time equivalents. IFF's financing has leveraged over $1.4 billion in capital. 6832162 5228626 160543 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 will facilitate community partnership by bringing together relevant parties. Through this work, IFF will continue to address a broad range of community needs - from health care, education, and housing to child care, healthy food access and job training. 1888525 8973 1148434 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, 610 projects have been worked on in this program and has resulted in a total cost savings for clients of $18.3 million and has funded the renovation or construction of 1.9 million square feet. In addition, this program has created 4,069 child care slots, 6,480 charter school seats, 61,296 new patients/visits at health care clinics, and developed 140 housing units and 70 beds. 487760 0 0 Public Policy and Communications: IFF's public policy and communications 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. 340650 0 93067 Research Program 828410 93067 18309779 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 52 0 1 81 1 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 1 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 Jeffrey Kolb Past Secretary & Treasurer 1.00 X X 0 0 0 Carl Jenkins Board Member 1.00 X 0 0 0 David Crawford Vice Chair 1.00 X X 0 0 0 Joe Antolin Board Member 1.00 X 0 0 0 Kristine Garrett Secretary & Treasurer 1.00 X X 0 0 0 Luke Collins Board Member 1.00 X 0 0 0 Meredith O'Connor Board Member 1.00 X 0 0 0 Amir Kirkwood Board Member 1.00 X 0 0 0 Mohini Chopra Board Chair 1.00 X X 0 0 0 Rodney Tyson Board Member 1.00 X 0 0 0 Sandra Moore Board Member 1.00 X 0 0 0 Diane Williams Board Member 1.00 X 0 0 0 Ramon Cepeda Board Member 1.00 X 0 0 0 Steve Kent Board Member 1.00 X 0 0 0 John Sassaris Board Member 1.00 X 0 0 0 Trinita Logue President 40.00 X 177355 0 48127 Joe Neri CEO 40.00 X 207250 0 27367 Lloyd Shields Assistant Secretary & CFO 40.00 X 162225 0 8934 Terry Pieniazek VP of Real Estate Services 40.00 X 148752 0 13316 Louise Tuck VP of Capital Solutions 40.00 X 133003 0 8036 Robin Schabes VP of Community Strategies 40.00 X 137451 0 7534 Marc Brailov VP of Public Policy & Communications 40.00 X 130656 0 9741 Kirby Burkholder Executive Director of Missouri 40.00 X 122744 0 11496 1219436 0 134551 12 0 1 0 McKinney Rogers International 444 Madison Ave 8th FL New York NY 10022 Strategic Plan Consultants 122648 Sidley Austin LLP 1 S Dearborn St Chicago IL 60603 Legal Services 104200 2 11356705 5826228 17182933 Interest on Loans 522291 9688146 9688146 Consulting Contract Fees 523930 1346268 1346268 Syndication Fees 523920 360000 360000 Management Fees 523920 151844 151844 Loan Origination Fees 522291 104723 104723 68444 68444 11719425 69717 69717 120511 91492 29019 29019 29019 29001094 11748444 0 69717 5857260 5857260 615508 299975 188762 126771 4100472 3754932 293776 51764 167520 130854 35288 1378 244475 203755 38462 2258 356592 306590 46463 3539 12800 12800 167282 166374 723 185 77770 68749 7164 1857 640267 591546 22683 26038 40263 40158 105 352825 323777 22856 6192 49620 44798 3834 988 712649 658152 43309 11188 190623 176945 11755 1923 98861 89287 5402 4172 5157819 5157819 290822 267277 18703 4842 73415 69590 3040 785 Dues,Books & Subscripti 76908 74569 1797 542 Uncollectable Contracts 11949 11949 2961 2623 268 70 19298661 18309779 744285 244597 301 1420 30001247 32994253 963009 8535810 520259 562911 171829355 183229453 128491 133368 12886228 2574864 6626799 10311364 18397871 18263496 4798244 4850076 1069327 1175776 234334903 260057927 2016208 2117512 2027873 4983756 1262806 2500000 158453755 171785339 163760642 181386607 X 23048857 22175407 47525404 56495913 70574261 78671320 234334903 260057927 X 9702433 -125336 -1480038 X 0 1 X 1 1 1 X 8685320 4734933 16929890 29962036 17182933 77495112 8685320 4734933 16929890 29962036 17182933 77495112 9720935 67774177 106961 63070 160172 178259 190228 698690 -28757 -333 -29090 78164712 38826187 0.86710 0.81800 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 51891 51891 19246770 19298661 1000000 250000 0 0 705407 794704 1000000 1000000 3500111 5250167 41717 76065 42539 51891 212212 176352 198676 250000 250000 875028 1312542 10429111 635602 1480038 9584675 10224876 6818184 6613949 10429111 7341523 4906000 2022647 10224876 8645860 75000 1379337 7341523 9410992 1020450 1785582 8645860 1.00000 0 0 9882727 33172 9849555 436555 298951 137604 2566946 2242741 324205 10311364 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 2013. 0 Northwest Housing Partnership 1701 E Woodfield Rd Suite 203 Schaumburg IL 60173 363715417 501(c)(3) 908107 Cost for 13 properties being acquired/rehabbed for group/supportive homes Breaking Ground Inc 3501 W Fillmore Chicago IL 60624 363860188 501(c)(3) 1066592 Cost for 13 properties being acquired/rehabbed for group/supportive homes Illinois Housing Development Authority 4701 N Michigan Ave Suite 700 Chicago IL 60611 362708817 State of Illinois 500000 To cover administrative, legal, and commitment fees for the Illinois Accessible Housing Inititative Program run by IHDA Krieder Services Inc 500 Anchor Road Dixon IL 61021 997618150 501(c)(3) 0 291850 Book 1 property transferred Housing for group/supportive homes Cornerstone Community Development 943 Lincoln Highway Ford Heights IL 60411 362658308 501(c)(3) 1519366 Book 1 property transferred Housing for group/supportive homes Chicago Metropolitan Agency for Planning 233 S Wacker Drive Suite 800 Chicago IL 60606 134331367 State of Illinois 603634 Return of cash reserves for loan losses on energy loans Saver's Fresh Market Roseland 1050 E 95th Street Chicago IL 60619 460834733 L3C 25000 Support to establish a establish a Community Engagement Plan to help provide healthy foods to the community Chicago South Suburbs Habitat for Humanity 139 W Joe Orr Road Chicago Heights IL 60411 363582576 501(c)(3) 216832 Cost for 6 properties being acquired/rehabbed for group/supportive homes KAT's Properties LLC 17300 S Greenwood South Holland IL 60473 272307342 84513 Cost for 1 property being acquired/rehabbed for group/supportive homes Mecca Companies Inc 117900 Dixie Highway Suite 2 Homewood IL 60430 260658513 575956 Cost for 6 properties being acquired/rehabbed for group/supportive homes Oak Park Regional Housing Center 1041 South Boulevard Oak Park IL 60302 237181388 501(c)(3) 65410 Housing consulting for project development 8 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 Trinita Logue President 177355 0 0 0 0 0 33034 0 15093 0 225482 0 0 0 Joe Neri CEO 191500 0 15750 0 0 0 26113 0 1254 0 234617 0 15750 0 Lloyd Shields Assistant Secretary & CFO 162225 0 0 0 0 0 8145 0 789 0 171159 0 0 0 Terry Pieniazek VP of Real Estate Services 148752 0 0 0 0 0 7758 0 5558 0 162068 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 A, line 4 The Chief Executive Officer shall be authorized to sign all contracts and other instruments related to IFF's affairs. Furthermore, the Chief Executive Officer may designate in writing such IFF officers or agents to sign contracts and other instruments as appropriate and necessary to conduct IFF's affairs, except where the execution of an instrument is expressly delegated by the Board of Directors or these bylaws to other officers or agents, or is required by law to be otherwise executed. 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, CAO, 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 -1,480,038. Home First Illinois LLC One North Lasalle Street No 700 Chicago IL 60602 Real estate developing and nonprofit ownership of property for individuals IL 333436 6053323 IFF IFF CILA Lease Program LLC One North Lasalle Street No 700 Chicago IL 60602 Real estate ownership for leasing to nonprofits IL 46595 1342125 IFF Home First LLC One North Lasalle Street No 700 Chicago IL 60602 Low income housing IL 0 2500 IFF IFF Real Estate Services LLC One North Lasalle Street No 700 Chicago IL 60602 Real estate consulting & developing for nonprofits IL -170037 880718 IFF IFF Housing LLC One North Lasalle Street No 700 Chicago IL 60602 Real estate consulting & developing for nonprofits IL 108843 5904494 IFF IFF Capital LLC One N LaSalle St Ste 700 Chicago IL 60602 030477974 Lending IL N/A Related -2 0 1 0.00010 IFF Capital II LLC One N LaSalle St Ste 700 Chicago IL 60602 205277860 Lending IL N/A Related 262 8901 1 1 0.00100 Chase NMTC II LLC One N LaSalle St Ste 700 Chicago IL 60602 205647038 Lending DE N/A Related -87 255837 0 1 0.00100 IFF Capital III LLC One N LaSalle St Ste 700 Chicago IL 60602 900802979 Lending IL N/A Related 9 400 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 35 1575 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 -5 1361 0 1 0.00010 IFF NMTC Senior Lender LLC 911 Washington Ave Suite 203 St Louis MO 63101 274447027 Lending MO IFF C 402531 6785622 1.00000 1 Access Housing I MM LLC One N LaSalle Suite 700 Chicago IL 60602 611706824 Low Income Housing IL IFF C 908725 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 383966 Cash Value IFF Capital III LLC B 400 Cash Value IFF Capital V LLC B 500 Cash Value Access Housing I MM LLC B 1500 Cash Value Chase NMTC II LLC D 56000 Cash Value IFF Capital LLC H 1277312 Cash Value