2012-08-03T08:18:49-05:00 2011-12-31 420714325 MCGLADREY LLP 1 S WACKER DRIVE STE 800 CHICAGO IL 60606 990 2011-01-01 363656836 IFF IFF 3126290060 ONE NORTH LASALLE STREET No 700 CHICAGO IL 60602 Joe Neri 3126290060 2012-07-26 1 Wayne Harder P00294296 3126343400 2011 2016-02-24 21:20:13Z Joe Neri ONE NORTH LASALLE STREET No 700 CHICAGO IL 60602 27574016 0 X WWW.IFF.ORG X 1988 IL IFF offers lending, real estate and research services to nonprofits for disadvantaged populations. 14 14 72 40 0 0 4734933 16929890 9354740 10483954 40298 55844 -71612 -60421 14058359 27409267 649592 1093025 0 0 4268760 4635642 0 0 314953 6189778 7165410 11108130 12894077 2950229 14515190 188224311 219978482 144314793 163576421 43909518 56402061 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. 0 0 7850947 9266686 Loan Program: This program makes below market loans to nonprofit agencies. Since 1990, the total loan volume reached $348 million which include 917 loans closed that has resulted in total cost savings of $20.5 million for clients. Since 1990, these loans have assisted with the renovation or construction of 12.0 million square feet and created 4,617 child care slots, 22,560 student seats, 173,884 new patients/visits at health care clinincs, 2,544 affordable and supportive/special needs housing units, and 966 beds. In addition, the loans have helped to employ 44,405 full time equivalents. 3359082 1093025 1150318 Real Estate Services Program: This program provides consulting services to help nonprofits plan and complete real estate development projects. Since 1997, this program has resulted in a total cost savings for clients of $15.9 million and has funded the renovation or construction of 1.7 million square feet. In addition, this program has created 4,026 child care slots, 5,110 charter school seats, 48,540 new patients/visits at health care clinics, and developed 83 housing units and 54 beds. 545101 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. 279201 6529 Research Program 279201 6529 12034331 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 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 28 0 1 72 1 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 1 1 IL X Lloyd Shields 3126290060 One North LaSalle Street Suite 700 Chicago IL 60602 Jeffrey Kolb 1.00 X X 0 0 0 Carl Jenkins 1.00 X X 0 0 0 David Crawford 1.00 X 0 0 0 Edward Tune 1.00 X 0 0 0 Kevin Ridley 1.00 X 0 0 0 Luke Collins 1.00 X 0 0 0 Meredith O'Connor 1.00 X 0 0 0 Michael Fisher 1.00 X 0 0 0 Mohini Chopra 1.00 X X 0 0 0 Rodney Tyson 1.00 X 0 0 0 Robin Coffey 1.00 X 0 0 0 Sandra Moore 1.00 X 0 0 0 Diane Williams 1.00 X 0 0 0 Ramon Cepeda 1.00 X 0 0 0 Trinita Logue 40.00 X 208080 0 50367 Joe Neri 40.00 X 190000 0 13120 Lloyd Shields 40.00 X 148960 0 8306 Jose Cerda 40.00 X 127592 0 13615 Lucy Tuck 40.00 X 128025 0 7682 Kirby Burkholder 40.00 X 116839 0 11866 Tanya Vartivarian 40.00 X 103429 0 11316 1022925 0 116272 7 0 1 0 Sidley Austin LLP PO Box 0642 Chicago IL 60690 Legal 145754 1 8726191 8203699 16929890 Interest on Loans 522291 8924357 8924357 Consulting Contract Fe 523930 1265877 1265877 Loan Origination Fees 522291 177050 177050 IFF Capital Mgmt Fees 523920 106670 106670 IFF NMTC Senior Lender 523920 10000 10000 10483954 55844 55844 104328 164749 -60421 -60421 -60421 27409267 10423533 0 55844 939310 939310 153715 153715 618833 314104 171461 133268 3400151 3132959 182476 84716 94325 84829 6952 2544 223793 206615 11779 5399 298540 257742 24820 15978 93060 91708 943 409 75545 22600 52945 48000 48000 369630 331058 6476 32096 27702 27360 342 258520 235039 16322 7159 30632 27169 2400 1063 412037 361876 35086 15075 132288 126973 3013 2302 72862 65619 3984 3259 5259601 5259601 286036 254734 21926 9376 27246 24601 1852 793 Dues,Books & Subscripti 62039 58589 2300 1150 Uncollectable Contracts 9256 9256 956 874 58 24 12894077 12034331 544793 314953 342 464 10086744 29219981 569536 1121960 464942 450460 151690733 157888339 71791 77129 8501108 2050343 3333245 6450765 18918489 18530124 2175162 5148159 913327 1091101 188224311 219978482 2465752 2105286 2962806 2112806 138886235 159358329 144314793 163576421 X 13958721 18469775 29950797 37932286 43909518 56402061 188224311 219978482 X 14515190 -2022647 X 0 1 1 X 1 1 X 13170525 2099708 8685320 4734933 16929890 45620376 13170525 2099708 8685320 4734933 16929890 45620376 7624909 37995467 1282124 963169 106961 63070 160172 2575496 45449 -146877 -28757 -333 -130518 48065354 40154143 0.79050 0.76340 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 76065 76065 12818012 12894077 794704 198676 0 0 571736 722796 705407 794704 2794643 4191965 30000 41717 76065 147782 142934 180699 176352 198676 698661 1047992 7341523 4906000 2022647 10224876 8645860 75000 1379337 7341523 9410992 1020450 1785582 8645860 10444628 0 1033636 9410992 1.00000 0 0 5949042 5949042 323804 199696 124108 2228262 1850647 377615 6450765 Description of Intended Use of Endowment Funds: Part V, Line 4: Capital to be used for loan disbursements and to cover loan losses. Description of Uncertain Tax Positions Under FIN 48: Part X: 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 2011 or 2010. 0 Mercy Housing Lakefront 120 S LaSalle St Suite 1850 Chicago IL 60603 363453183 501(c)(3) 34563 General operations Search Inc 1925 N Clybourn Suite 200 Chicago IL 60614 237058758 501(c)(3) 286963 Book 1 Property transferred Housing for group/supportive homes Connections for the Homeless Inc 2010 Dewey Avenue 3rd Floor Evanston IL 60201 363346917 501(c)(3) 617784 Book 2 properties transferred Housing for group/supportive homes 3 3 Building/property for housing 1 153715 Book 1 property transferred Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, 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 208080 0 0 0 0 0 32500 0 17867 0 258447 0 0 0 Joe Neri 175000 0 15000 0 0 0 9500 0 3620 0 203120 0 0 0 Lloyd Shields 148960 0 0 0 0 0 7500 0 806 0 157266 0 0 0 Part I, Line 1a IFF pays dues to a social club on behalf of Trinita Logue and Joe Neri. The amount is not included on their W-2 because membership to the social club is for business uses only. Trinita Logue's membership was cancelled in August 2011, after Joe Neri's membership was established. Form 990, Part VI, Section A, line 4 In 2011 the by-laws were revised in the following provisions: - The minimum number of directors was increased to 12. - The position of Chief Executive Officer was added and given the powers of the senior executive officer over the organization. - The President's powers were modified to eliminate the position as an ex officio voting member of the board of directors. 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 believes that it is a stronger organization by virtue of having both investors and borrowers represented on its board or committees. There are also cases in which a board member serves on the board of a borrower whose loan may be brought to the board level. In the instance that a conflict exists, any involved parties do not participate in the voting. The minutes also record the conflict. IFF intentionally avoids relationships with major vendors whose owners or employees serve on the board, but if such a relationship exists, it is handled in the way described above. Form 990, Part VI, Section B, line 15a 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 President and 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 of compensation of the President and CEO each year. This included an industry compensation survey done by IFF's National Trade Association as well as local surveys done by Crain's Chicago Business. In 2011, IFF participated in a salary survey with The Delta Institute. The Delta Institute is a nonprofit that works on environmental sustainability and economic development. The Institute hired a third-party consultant (PRM Consulting Group) to review and analyze its salaries for staff positions. We contributed information of IFF's salaries, and in return received a breakdown of salary ranges for various staff from a third-party vendor. In addition to IFF, there were 14 other groups that provided salary information for the survey. IFF reviewed the information and will consider the survey when looking at its own similar positions. IFF also receives a national salary guide for IT, finance and administrative staff from Robert Half, a national employee placement firm, and other placement firms. Compensation of other key employees is approved by the CEO after review of performance, market conditions and the agency's budget. 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, and audited financial statements and the annual report, which contains the list of all investors and contributors and the list of borrowers and clients, are available to the public on the IFF's website. Form 990, Part VI, Section B, Lines 12 - 14 The Conflict of Interest policy, Whistle-Blower Policy and Document Retention and Destruction Policy are reviewed and approved by the Board. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net Assets Released from Restriction -2,022,647. Total to Form 990, Part XI, Line 5: -2,022,647. IFF Capital LLC One N LaSalle St Ste 700 Chicago IL 60602 030477974 Lending IL N/A Related 1 1011 1 1 0.00010 IFF Capital II LLC One N LaSalle St Ste 700 Chicago IL 60602 205277860 Lending IL N/A Related 365 8608 1 1 0.00100 Chase NMTC II LLC One N LaSalle St Ste 700 Chicago IL 60602 205647038 Lending DE N/A Related 24 166942 1 1 0.00100 IFF NMTC Senior Lender LLC 911 Washington Ave Suite 203 St Louis MO 63101 274447027 Lending MO IFF C 16783 6743467 1.00000 1 1 0 1 0 0 0 0 0 0 1 0 1 1 0 0 0 0 IFF NMTC Senior Lender LLC A 143525 cash Value IFF NMTC Senior Lender LLC B 2711797 cash Value IFF NMTC Senior Lender LLC D 4013306 cash Value