Illinois Facilities Fund
Illinois Facilities Fund
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About this organization
Mission
IFF believes that every person – regardless of income or neighborhood – has the right to a good education, fresh food, health care, and affordable, safe housing. Across the Midwest, too many low-income communities lack the building blocks to provide these essentials. Founded in 1988 as the Illinois Facilities Fund, IFF’s vision is to provide comprehensive solutions with transformational outcomes in low-income and special needs communities throughout the Midwest. While IFF has broadened its efforts across the Midwest, we have a deep commitment to our core mission: to strengthen nonprofits and the communities they serve by providing leadership, capital, and real estate solutions. IFF provides nonprofit organizations with tools and resources to help communities thrive.
About
Capital Solutions: This program makes below market loans to nonprofit agencies. Since 1990, the total loan volume reached over $1 billion which includes 1,843 loans closed that has leveraged over $3 billion in capital. Since 1990, these loans to over 969 nonprofits have assisted with the renovation or construction of 27.8 million square feet and created 7,230 child care slots, 54,489 student seats, 371,689 new patients/visits at health care clinics, 12,393 affordable and supportive/special needs housing units, and 3,779 beds. In addition, the loans have helped to employ 78,949 full time equivalents.
Interesting data from their 2020 990 filing
In the filing, the mission of the non-profit is noted as “Iff strengthens nonprofits and the communities they serve by providing leadership, capital, and real estate solutions.- leadership reflects our research, policy, sector work, and convening role- capital includes a range of financial products: loans, new markets tax credits, equity, and pay for success- real estate solutions includes a range of consultant services, development, and ownership”.
When referring to its responsibilities, they were outlined as: “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.”.
- The state in which the non-profit is legally registered to operate is IL, as per legal records.
- The filing documents the non-profit's address in 2020 as 333 South Wabash Avenue No 2800, Chicago, IL, 60604.
- According to the non-profit's form, they have 129 employees on their payroll as of 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $2,712,313.
- The organization has 15 independent voting members.
- The organization was formed in 1988.
- The organization pays $11,309,805 in salary, compensation, and benefits to its employees.
- The organization pays $352,547 in fundraising expenses.