Low Income Investment Fund
- Assets
- $578.3m
- Revenue
- $61.2m
- Investments
- $0.0
- Employees
- 110
- Location
- San Francisco, CA
- Founding
- 10/1986
- Data as of
- 06/2022
- EIN
- 94-2952578
Organization Overview
Low Income Investment Fund is located in San Francisco, CA. The organization was established in 1986. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 06/2022, Low Income Investment Fund employed 110 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Low Income Investment Fund 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 06/2022, Low Income Investment Fund generated $61.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.7% each year . All expenses for the organization totaled $54.3m during the year ending 06/2022. While expenses have increased by 11.2% per year over the past 7 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, Low Income Investment Fund has awarded 1,186 individual grants totaling $82,302,794. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
LIIF IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION WHICH PROVIDES A COMPREHENSIVE RANGE OF PROGRAMS TO INCREASE THE AVAILABILITY OF CAPITAL IN LOW INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
OTHER PROGRAMS.
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Naughton Treasurer | OfficerTrustee | 1 | $0 |
Reymundo Ocanas Chair | OfficerTrustee | 1 | $0 |
Russell Bruemmer Secretary | OfficerTrustee | 1 | $0 |
Derek Douglas Director | Trustee | 1 | $0 |
Dionne Nelson Director | Trustee | 1 | $0 |
David Fleming Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rsm Us Llp Accounting Consulting Fees | 6/29/22 | $412,230 |
Xantrion Inc Information Technology Services | 6/29/22 | $353,615 |
Lhh Recruitment Solutions Staffing Services | 6/29/22 | $380,782 |
The Bridgespan Group Inc Consulting | 6/29/22 | $300,000 |
Diversant Llc Staffing Services | 6/29/22 | $330,606 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $435,000 |
| Government grants | $16,571,014 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,930,148 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $27,936,162 |
| Total Program Service Revenue | $32,593,472 |
| Investment income | $577,374 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$396 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,156,061 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,551,752 |
| Grants and other assistance to domestic individuals. | $3,626,541 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,429,404 |
| Compensation of current officers, directors, key employees. | $1,002,827 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,973,705 |
| Pension plan accruals and contributions | $510,347 |
| Other employee benefits | $3,226,661 |
| Payroll taxes | $916,797 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $271,595 |
| Fees for services: Accounting | $319,943 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $157,213 |
| Fees for services: Other | $2,806,055 |
| Advertising and promotion | $0 |
| Office expenses | $726,052 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,524,121 |
| Travel | $170,252 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $146,941 |
| Interest | $10,679,196 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $335,932 |
| Insurance | $270,822 |
| All other expenses | $0 |
| Total functional expenses | $54,325,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,760,754 |
| Savings and temporary cash investments | $73,945,034 |
| Pledges and grants receivable | $12,465,195 |
| Accounts receivable, net | $2,433,869 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $424,849,513 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,149,720 |
| Net Land, buildings, and equipment | $1,517,755 |
| Investments—publicly traded securities | $17,690,536 |
| Investments—other securities | $0 |
| Investments—program-related | $3,940,560 |
| Intangible assets | $0 |
| Other assets | $10,527,343 |
| Total assets | $578,280,279 |
| Accounts payable and accrued expenses | $8,323,940 |
| Grants payable | $7,848,811 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $7,749,806 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $379,842,528 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $16,485,517 |
| Total liabilities | $420,250,602 |
| Net assets without donor restrictions | $100,165,243 |
| Net assets with donor restrictions | $57,864,434 |
| 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 | $578,280,279 |
Grants Awarded
Over the last fiscal year, Low Income Investment Fund has awarded $12,331,752 in support to 152 organizations.
| Grant Recipient | Amount |
|---|---|
WU YEE CHILDREN'S SERVICES PURPOSE: CAPITAL FUND | $1,254,000 |
CROSS CULTURAL FAMILY CENTER PURPOSE: CAPITAL FUND | $1,060,000 |
THE CHICAGO COMMUNITY TRUST PURPOSE: SPARCC | $907,000 |
EASTER SEALS SERVING MDDCVA PURPOSE: QUALITY CHILD CARE EXPANSION | $905,000 |
NATIONAL CHILDREN'S CENTER INC PURPOSE: QUALITY CHILD CARE EXPANSION | $905,000 |
CENTER FOR TRANSFORMING COMMUNITIES PURPOSE: SPARCC | $567,391 |