Iff is located in Chicago, IL. The organization was established in 1990. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Iff employed 173 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iff is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Iff generated $102.8m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 15.0% each year . All expenses for the organization totaled $96.5m during the year ending 12/2023. While expenses have increased by 16.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Iff has awarded 865 individual grants totaling $126,775,362. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
IFF LEVERAGES KNOWLEDGE, CAPITAL, AND RESOURCES TO ADVANCE EQUITABLE AND TRANSFORMATIONAL OUTCOMES IN UNDER-RESOURCED COMMUNITIES, GUIDED BY OUR COMMITMENT TO BE AN INCLUSIVE, ANTI-RACIST AND ANTI-OPPRESSIVE INSTITUTION THAT HONORS COMMUNITIES AS ASSET-RICH AND AS EXPERTS IN THEIR OWN STORIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL IMPACT ACCELERATOR - PROGRAM & INITIATIVES AND COMPREHENSIVE BASED PLACED INITIATIVES (EARLY CHILD SERVICES, AND SCHOOL SERVICES) EARLY CHILD SERVICES IS DESIGNED TO INCREASE CAPACITY AND IMPROVE ACCESS TO QUALITY EARLY CARE AND EDUCATION ACROSS THE MIDWEST STATES WE SERVE. PROVIDERS CAN RECEIVE TECHNICAL ASSISTANCE, CONSULTING SERVICES, AND GRANTS TO IMPROVE FACILITY QUALITY. SCHOOL SERVICES IS A PROGRAM IN WHICH WE WORK ACROSS ALL EDUCATION SYSTEMS WITH SCHOOL DISTRICTS, CHARTER SCHOOLS AND CHARTER SCHOOL AUTHORIZERS, PRIVATE SCHOOLS, POLICYMAKERS, AND EDUCATION ADVOCATES TO INCREASE OPPORTUNITY AND IMPROVE OUTCOMES FOR STUDENTS. COORDINATED AND FOCUSED EFFORTS ALLOW IFF TO STRATEGIZE, DEVELOP, AND IMPLEMENT PROGRAMMATIC RESPONSES. INFORMED BY DATA, IFF HELPS PLAN, FIND, FINANCE, AND DEVELOP SCHOOLS IN THE PLACES WHERE THEY ARE NEEDED THE MOST.
CAPITAL SOLUTIONS: THIS PROGRAM MAKES AFFORDABLE LOANS TO NONPROFIT AGENCIES. SINCE 1990, THE TOTAL LOAN VOLUME REACHED OVER $1.6 BILLION WHICH INCLUDES 2,253 LOANS CLOSED THAT HAS LEVERAGED OVER $5.83 BILLION IN CAPITAL. SINCE 1990, THESE LOANS TO OVER 1,207 NONPROFITS HAVE ASSISTED WITH THE RENOVATION OR CONSTRUCTION OF 42 MILLION SQUARE FEET AND CREATED 16,041 CHILD CARE SLOTS, 160,956 STUDENT SEATS, 725,598 NEW PATIENTS/VISITS AT HEALTH CARE CLINICS, 20,589 AFFORDABLE AND SUPPORTIVE/SPECIAL NEEDS HOUSING UNITS, AND 4,381 BEDS. IN ADDITION, THE LOANS HAVE HELPED TO EMPLOY 89,549 FULL TIME EQUIVALENTS.
COMMUNITY DEVELOPMENT SOLUTIONS: 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. IFF ALSO EVALUATES HOUSING, HUMAN SERVICES, EDUCATION, HEALTH CARE, INVESTMENTS, AND JOB ENVIRONMENTS TO PROVIDE A COMMUNITY CONDITIONS ANALYSIS WHICH HELPS GUIDE STAKEHOLDERS TO DEVELOP STRATEGIC PLANS AND TO PRIORITIZE 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 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.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Joe Neri CEO | OfficerTrustee | 40 | $359,350 |
Cheryl Wilson Board Chair | OfficerTrustee | 1 | $0 |
Sakura Takano Vice Chair | OfficerTrustee | 1 | $0 |
John Sassaris Treasurer/secretary | OfficerTrustee | 1 | $0 |
George Burciaga Board Member | Trustee | 1 | $0 |
Hamilton Chang Board Member | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Bdo Fma Llc Financial Consulting | 12/30/23 | $620,500 |
Design Impact Strategic Plan Consultants - Culture | 12/30/23 | $388,980 |
Baso Ltd Owners Rep/project Consulting | 12/30/23 | $305,983 |
Wipfli Llp It/software Consulting | 12/30/23 | $174,706 |
Peter Eckart Consulting Strategic Plan Consultants - Organizatio | 12/30/23 | $146,000 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $52,315,768 |
All other contributions, gifts, grants, and similar amounts not included above | $11,810,934 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $64,126,702 |
Total Program Service Revenue | $35,707,302 |
Investment income | $1,557,195 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,445,571 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $102,836,770 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $41,278,047 |
Grants and other assistance to domestic individuals. | $11,936,441 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $1,309,619 |
Compensation of current officers, directors, key employees. | $252,371 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $13,758,917 |
Pension plan accruals and contributions | $566,520 |
Other employee benefits | $1,242,292 |
Payroll taxes | $1,172,955 |
Fees for services: Management | $208,265 |
Fees for services: Legal | $64,301 |
Fees for services: Accounting | $152,332 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $4,344,781 |
Advertising and promotion | $296,334 |
Office expenses | $533,954 |
Information technology | $109,224 |
Royalties | $0 |
Occupancy | $3,380,219 |
Travel | $666,249 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $262,008 |
Interest | $12,448,383 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $1,497,936 |
Insurance | $258,038 |
All other expenses | $978,460 |
Total functional expenses | $96,465,275 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $257 |
Savings and temporary cash investments | $38,353,042 |
Pledges and grants receivable | $5,909,461 |
Accounts receivable, net | $10,520,687 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $555,747,880 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $521,387 |
Net Land, buildings, and equipment | $43,567,800 |
Investments—publicly traded securities | $21,275,217 |
Investments—other securities | $0 |
Investments—program-related | $4,009,480 |
Intangible assets | $0 |
Other assets | $9,460,501 |
Total assets | $689,365,712 |
Accounts payable and accrued expenses | $10,000,261 |
Grants payable | $46,667 |
Deferred revenue | $13,617,056 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $75,959,325 |
Unsecured mortgages and notes payable | $433,980,665 |
Other liabilities | $7,389,541 |
Total liabilities | $540,993,515 |
Net assets without donor restrictions | $89,975,176 |
Net assets with donor restrictions | $58,397,021 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $689,365,712 |
Over the last fiscal year, Iff has awarded $41,158,446 in support to 600 organizations.
Grant Recipient | Amount |
---|---|
NORTH CHICAGO SCHOOL DISTRICT 187 PURPOSE: Cost to rehab middle school | $7,669,234 |
BDO FMA LLC PURPOSE: Third Party Consultants who help educate/train business owners on financial management as part of the grant. | $726,000 |
GARRISON FRAZIER INVESTMENTS INC PURPOSE: Cost for acquiring equipment and/or facilities rehab cost as part of the grant | $900,000 |
PHOENIX CHILD CARE & ACADEMY PURPOSE: Cost for acquiring equipment and/or facilities rehab cost as part of the grant | $299,999 |
THE CREATIVE CHILD PLACE LLC PURPOSE: Cost for acquiring equipment and/or facilities rehab cost as part of the grant | $279,281 |
AMPLIFY GR PURPOSE: Cost for acquiring equipment and/or facilities rehab cost as part of the grant | $273,799 |