Maximizing Impact, Minimizing Costs: Quad Cities’ Community Health Center Setting Model for Delivering Quality Care to Uninsured
Davenport, IA, April 29, 2013 – In today’s healthcare climate, rising costs provide challenges for consumers and providers alike – and is particularly difficult for those nonprofit providers who depend on uncertain or declining government reimbursement rates and sliding fees to cover overhead. For Community Health Care, Inc. (CHC), however, a commitment to mission, quality service and efficiency has earned it recognition as one of the most cost-efficient health care providers in Iowa.
First-of-Its-Kind Study Identifying Indianapolis Neighborhoods Most in Need of High-Performing Schools Released by IFF
Indianapolis, IN, March 13, 2012— A first-of-its-kind study that identifies Indianapolis neighborhoods with the greatest need for additional high-performing K-12 schools is being released today by leading nonprofit community development financial institution (CDFI) IFF. IFF's school study, The Shared Challenges of Quality Schools: A place-based analysis of school performance in Indianapolis, is unique in its practical, neighborhood-level analysis of school performance.
St. Louis' KIPP Charter School Closes Achievement Gap, Improves
Fox Park Neighborhood -- Thanks to Low-Interest Loan
KIPP Inspire Academy charter school is in the news this week because its founder has been recognized by the St. Louis Business Journal as one of the city's "40 Under 40" leaders. However, what most people don’t know is that the school has been making great strides in closing the achievement gap for low-income students, while providing a boost to the Fox Park Community in which it resides. Key to this success was the affordable financing that it received from nonprofit community development financial institution (CDFI) IFF, which serves only low-income areas.
Iowa's First Healthy Foods Financing Initiative Funded Grocery Store Opens in Des Moines
C fresh MARKET provides to the community a variety of traditional and international foods, fresh produce, a full service meat department, deli and bakery. A salon, jewelry store and travel agency also occupy space connected to the grocery store. Together the grocery and retail stores occupy 23,000 square feet in the building. The Evelyn K. Davis Center for Working Families, which opened in August of 2012, occupies the remaining 12,000 square feet of the building.
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St. Louis Nonprofits Improving Low-Income Communities with Help
From CDFI Leader IFF
St. Louis, MO, December 19, 2012— St. Louis nonprofits serving some of the city’s most needy communities are realizing significant benefits resulting from affordable financing from nonprofit community development financial institution (CDFI) leader IFF. Assistance League St. Louis is expanding programs, serving more low-income students and battered women; and Project, Inc. has been able to protect the employment of disabled adults, who might otherwise be unemployed, while saving taxpayers money.
West Cook County Housing Collaborative Announces First Availability of High-Quality Affordable Homes
Chicago, IL, December 7, 2012 The West Cook County Housing Collaborative, a joint effort between the municipalities of Bellwood, Berwyn, Forest Park, Maywood, Oak Park and community development financial institution (CDFI) IFF, announced today the immediate availability of seven new quality affordable homes for sale in Bellwood and Maywood. The homes, six in Bellwood and one in Maywood, will be made affordable to buyers with incomes at or below eighty percent of the Area Median Income (AMI). The initiative also provides a down payment subsidy of up to $10,000 to support the sale of each home.
Mayor Ballard, LISC, and community partners officially open The Platform
Innovative neighborhood hub repurposes space in City Market’s west wing
The Platform will house LISC and the following organizations: Indianapolis City Market Corporation, Indy Winter Farmer’s Market, Indianapolis Coalition for Neighborhood Development (ICND), Indiana Association for Community Economic Development (IACED), IFF, Indianapolis Cultural Trail, Inc., Growing Places Indy, and Wishard Health Services. The American Institute of Architects and Ball State University will also have a presence at the Platform. By co-locating, these groups improve their access to the public, expand their ability to host meetings, improve collaboration, and lower their operating costs.
U.S. Department of Treasury Awards $4.5 Million to Midwest’s Top-Rated Community Development Financial
Institution (CDFI) IFF
Chicago, IL, August 09, 2012 -- IFF, one of the nation’s leading community development financial institutions (CDFIs), has been awarded $4.5 million from the U.S. Department of Treasury to increase its lending to nonprofits and commercial businesses serving low-income communities, in Illinois, Indiana, Iowa, Missouri and Wisconsin. IFF received grants from both the Treasury Department's CDFI Fund ($1.5 million) and its Healthy Foods Financing Initiative ($3.0 million).
Indiana Creates Charter School Facilities Loan Fund
Nonprofit CDFI Leader IFF Selected by State to Implement Fund
Chicago, IL, June 27, 2012 — Recognizing that quality charter schools require quality facilities, the State of Indiana today announced the creation of a Charter School Facilities Loan Fund. One of the nation’s leading community development financial institutions (CDFIs), IFF, has been selected by the Indiana Department of Education to implement the program -- a revolving loan fund that will provide affordable and flexible loans to qualified Indiana charter schools for their facilities projects.
Midwest’s Top-Rated Community Development Financial Institution (CDFI), IFF, Opens First Office in Iowa
Chicago, IL—With government support for low-income communities constrained by budget austerity and a sluggish economy, community development financial institutions (CDFIs) continue to grow in importance as an alternative source of aid. One of the nation’s leading, and highest-rated Midwest-based CDFIs, IFF, is now opening its first office in Iowa, in Davenport.
IFF Receives $25 Million in New Markets Tax Credit Allocation--
Achieves Over $1Billion Leveraged in Community Investment Since 1988
Chicago, IL—On February 23, the U.S. Treasury Department’s Community Development Financial Institution (CDFI) Fund announced that nonprofit lender, IFF, has been awarded $25 Million in New Market Tax Credit (NMTC) allocations. The NMTC program works to stimulate equity investment from the private sector in low-income communities by providing a 39% tax credit to investors over a period of 7 years. The allocation was part of $3.6 billion in NMTC awarded to 70 Community Development Entities nationwide. IFF was previously awarded $10 million in NMTC allocation in 2002.
D.C. Deputy Mayor for Education Releases IFF Study Identifying Neighborhoods with Greatest Education Service Gaps
Washington, D.C.— An independent study commissioned by the D.C. Deputy Mayor for Education (DME) and released today identifies the ten communities across the District with the greatest gap between student demand and supply of high-quality education opportunities in the public system. The study, Quality Schools: Every Child, Every School, Every Neighborhood, was conducted by the nonprofit IFF, based in Chicago, which has performed similar studies in other cities. It examined traditional public schools and charter schools in the District in each of the 39 neighborhood clusters, and then categorized them into four tiers based on school performance, ranging from “performing” (Tier 1) schools with high DC-CAS proficiency rates or steady improvement over the past five years to the most underperforming schools (Tier 4).
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IFF and Access Living Launch $19MM Partnership with the State of Illinois and Chase
IFF announced today that it received $4 million from Chase to increase funding for Home First Illinois, a joint effort by IFF and Access Living to develop permanently affordable and accessible housing for persons with disabilities. The $4 million award from Chase will build on a $15 million commitment from the State of Illinois, and operational support of $125 thousand from the Chicago Community Trust, bringing total funds for the initiative to just over $19 million.
West Cook County Housing Collaborative Receives $7.2 Million in Grants--Combined Federal, State Funds Will Link Affordable Housing to Transit and Jobs
Oak Park, IL—The West Cook County Housing Collaborative, a joint effort between the municipalities of Bellwood, Berwyn, Forest Park, Maywood, and Oak Park, announced today that it had received a nearly $3 million award from the U.S. Department of Housing and Urban Development (HUD), as part of the Sustainable Communities Program, and just under $4.3 million from the Illinois Department of Commerce and Economic Opportunity (DCEO), both to increase affordable housing for families in West Suburban Cook County.
IFF Receives $5.5MM from Bank of America
to Finance Energy Efficient Building Retrofits
IFF, the nonprofit lender and real estate consultant, announced today that it received a $5.5 million low-cost loan and operating grant from Bank of America to expand its efforts to finance energy efficient retrofits for charter schools, nonprofit community facilities, and multifamily affordable housing in the Chicago Metro region.
IFF is one of the Community Development Financial Institutions (CDFIs) selected to participate in Bank of America's $55 Million Energy Efficiency Finance Program announced last spring. The program will enable CDFIs to finance the upfront investment costs for building owners in low-income communities, bringing to scale innovative, local programs, providing energy efficient retrofits or improvements to buildings, contributing to local job creation and reducing overall energy usage. It also will reduce the carbon emissions from these residential and commercial buildings, which account for nearly 40 percent of all primary energy consumption in the United States. The energy cost savings realized over time will create cash flow to repay the loan.
IFF Receives Grant from Starbucks and OFN’s “Create Jobs for USA” Program
A local community lender today received a $231,000 capital grant from the
Create Jobs for USA Fund, a collaboration between Starbucks and Opportunity Finance Network (OFN). The funds will help IFF create and sustain jobs in the Midwest as part of a national campaign to support small, community businesses. IFF is one of just 28 community development financial institutions (CDFIs), in the nation to win a grant in the inaugural funding round. The grant was made possible by a $5 million seed contribution from the Starbucks Foundation. The Fund expects to raise tens of millions of dollars more, according to a spokesman, and 100 percent of these donations will go to CDFIs to finance underserved community businesses, and help create and sustain jobs in underserved communities.
IFF Selected for U.S. Healthy Foods Financing Initiative, Receives $3MM Grant
The U.S. Department of the Treasury last week awarded IFF, the nonprofit lender and real estate consultant, a grant of $3 million to fund a pipeline of retail projects to improve access to healthy foods in low-income neighborhoods classified as “food deserts.” The award is part of the Healthy Foods Financing Initiative (HFFI) proposed by the Obama Administration and represents the first coordinated, federal effort to increase the availability of nutritious foods in underserved areas. In total, 12 community development financial institutions (CDFIs) were awarded $25 million to invest in grocery stores and other food-related projects, such as corner stores, cooperatives, and mobile food retailers.
Citi and IFF Lay Groundwork for Community-Based Health Care Facilities Expansion
Citi and IFF today announced a new partnership for developing community infrastructure at scale by innovatively combining IFF‘s financing and real estate development services. The goal of the ?"Health Centers for Healthy Communities" initiative is to leverage at least $75 million in private sector capital and to develop or expand a minimum of 10 community-based health care clinics across five Midwest states.
IFF Receives $1MM Grant to Reduce Energy Use by Area Nonprofits
Energy Impact Illinois, the alliance that provides people and businesses with smart, simple resources that make it easy to save enerty and money, has awarded IFF, the nonprofit lender and real estate consultant, a $1 million grant to identify, finance, and manage energy efficiency improvements to nonprofit facilities in the Chicago reagion.
Nonprofit Lender IFF Joins Federal Home Loan Bank of Chicago
The Federal Home Loan Bank of Chicago (FHLBank Chicago) announced that IFF has joined as a member—making IFF the first Community Development Financial Institution (CDFI) loan fund to join the FHLBank Chicago and only the sixth CDFI to join the FHLBank System nationally.
IFF Expands Popular Investor Consortium to Include More States
IFF has launched its first regional Investor Consortium with the sale of $10 million in collateral trust notes to seven partner banks—US Bank, Harris Bank, MB Financial, The Private Bank, Cole Taylor Bank, First Midwest Bank, and First Savings Bank of Hegewisch.
IFF, Banks in Missouri Launch $8MM Loan Pool for Nonprofits in Low-Income Communities
IFF has announced the establishment of an $8 million loan pool to make low-cost financing available to nonprofits located in Missouri census tracts that are eligible for the New Markets Tax Credit (NMTC) Program, including the Kansas City and St. Louis metropolitan areas. The loan pool is a collaboration between Central Bank of Kansas City Community Development Entity, U.S. Bancorp Community Development Corporation, and IFF.
IFF, West Cook County Housing Collaborative Celebrate Workforce Housing
On March 10, the West Cook County Housing Collaborative will “break ground” on the Maywood Apartments, a 26-unit affordable housing development at 1015-17 S. 4th Avenue in Maywood, Illinois.
The Collaborative, coordinated by IFF, is a joint effort between the municipalities of Bellwood, Berwyn, Forest Park, Maywood, and Oak Park to increase access to affordable housing in the area.
Promotion for IFF Missouri Director - Growth Planned for IFF in Missouri Region
IFF Missouri Director Kirby Burkholder has been promoted to Executive Director – Missouri. He will now have expanded responsibility for staff, operations and management of IFF’s Missouri office which now includes all of Southern Illinois.
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Joe Neri Named New CEO of Midwest’s Top-Rated CDFI - Assumes Leadership as IFF Earns Exclusive AAA+1 Rating from CARS™
Executive Vice President Joe Neri has been named IFF's Chief Executive Officer. Neri succeeds Trinita Logue, IFF’s founder, CEO and President. Logue will remain as President, focusing her efforts on national relationships, new initiatives such as a healthy foods access program, and capital raising. The selection of Neri as CEO comes as IFF has earned the highest rating from the CDFI Assessment and Rating System (CARS). IFF is one of only four CDFIs nationwide – and the only in the Midwest – to earn the AAA+1 rating.
JPMorgan Chase Executive Joins IFF -
Midwest Regional CDFI Hires new CFO; Prepares for Growth
Lloyd Shields, 60, has been hired as Chief Financial Officer at IFF. Before joining IFF, Shields built a distinguished career with JPMorgan Chase—most recently as Chief Financial Officer, Corporate Real Estate & Security. He joined the bank more than 30 years ago when it was First National Bank of Chicago.
Communities at Work Fund announces $60MM of loans to fuel small business lending in low-income U.S. communities--IFF receives $20MM
Communities at Work Fund™ announced on November 3rd that it has approved financing for $60 million from the Fund’s total of $200 million which was established to help fuel small business lending in low-wealth and low-income U.S. communities. Nonprofit lender IFF was awarded $20 million.
IFF applied for the Communities at Work Fund™ to increase its below-market rate lending to nonprofits in the Midwest serving low-income neighborhoods, including community health clinics, child care centers, affordable housing, charter schools, and human service agencies among others.
88% of all District and Charter Public School Students in the Kansas City, MO School District Do Not Attend a Performing School
Today IFF released Putting Performance on the Map: Locating Quality Schools in the Kansas City, Missouri School District which presents data on enrollment, capacity, location, and performance in KCMSD and charter schools, and addresses the effect of the District’s restructuring plan on students who live within the KCMSD boundaries.
The premise of Putting Performance on the Map and IFF’s similar studies is that all children should have the option to attend an academically performing school near where they live.
IFF Receives $750,000 in Unrestricted Capital
IFF has received an award of $750,000 in capital from the U.S. Treasury Department’s Community Development Financial Institution (CDFI) Fund. This money, the maximum awarded by the fund this year, will allow the nonprofit lender and real estate services provider to increase its below-market facilities and equipment lending to nonprofit corporations serving low-income communities throughout the Midwest.
JPMorgan Chase Invests $9.5MM in IFF
JPMorgan Chase has provided IFF, an award-winning community development financial institution (CDFI), with a low-interest loan of $9.5 million with capital raised through the New Markets Tax Credit (NMTC) Program. The funding comes at a critical time for nonprofits which have seen other facilities financing options decline during the U.S. economic crisis. IFF will use the JPMorgan Chase investment to provide loans to qualified nonprofit borrowers in Indiana, Wisconsin, and Illinois.
New Study: Only 13 Percent of Milwaukee Public, Public Charter and Private School Students are Enrolled in Schools Meeting Wisconsin State Standards
IFF released a new study today analyzing the performance, location, and enrollment of Milwaukee Public Schools (MPS), charter schools and certain private schools participating in the Milwaukee Parental Choice Program (MPCP) in 2008-2009. The study—Choosing Performance: An Analysis of School Location and Performance in Milwaukee—determined that most children do not attend or live near a school that meets the Wisconsin State Standard.
IFF Now Providing Below-Market, Energy Efficiency Loans and Services
IFF has been awarded a grant from The Illinois Clean Energy Community Foundation to pilot a program that will help Illinois nonprofits take advantage of energy and cost saving practices formerly applied primarily to large public institutions. IFF’s Energy Performance Program (E2P) will provide below-market loans and energy efficiency expertise to Illinois nonprofits that own facilities which would benefit financially from efficiency upgrades.
New Report Finds Many Denver Children Lack Access to Performing School
According to a new IFF study sponsored by the National Association of Charter School Authorizers (NACSA), more than half of Denver's children today cannot access a performing school in the Denver public school system. The report, entitled Locating Quality and Access: The Keys to Denver's Plan for Educational Excellence, also found that these children without access to a high-quality education are concentrated in several largely Hispanic communities within the city.
Read the report [PDF]
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IFF Receives $5MM from Neighborhood Stabilization Program
IFF receives a $5.13 million grant from the Illinois Department of Human Services (IDHS) to partner with nonprofit corporations in nine counties to provide affordable housing services for low and moderate income individuals with special needs.
Environmental Leader to Head IFF’s Real Estate Services Division
IFF, the Midwest’s largest nonprofit community development financial institution (CDFI) and a leading provider of real estate consulting services to nonprofits, recently hired David Reynolds as its new Vice President for Real Estate Services (RES).
Prior to joining IFF, Mr. Reynolds served as Vice President of AECOM (frmerly Earth Tech), where he was responsible for the global engineering firm’s environmental practice in Chicago. A professional engineer and LEED Accredited Professional, Mr. Reynolds brings substantial technical, management, and business development experience to IFF’s leadership team.
New Study of Performance and Location of Public Schools in St. Louis
A new study released today analyzes the performance, location, and enrollment of both St. Louis Public Schools and charter schools in 2007-08. The study - Place, Performance, and Promise - determined that St. Louis students have limited access to a quality school in their neighborhood. The report was produced by the National Association of Charter School Authorizers (NACSA) and IFF, in conjunction with the St. Louis Mayor's Office.
Read the report [PDF]
Grant Available to Help Nonprofits Plan for New Space
The Polk Bros. Foundation has supported IFF's Real Estate Consulting program for many years. Thanks to a special grant from the Foundation in 2009, IFF is pleased to make available on a first-come, first-served basis two opportunities to assist nonprofits with planning for new space.
New Report Highlights Progress and Challenges of Chicago’s Public Schools
This report examines citywide and community area changes in the number of performing schools in Chicago’s 77 neighborhood areas between 2004 and 2008. It also documents the contribution made by charter and other new schools under Renaissance 2010. Like the 2004 Here and Now study, Here and Now 2 is based on the premise that all Chicago students should have academically performing schools within or near the community area in which they live.
Read the report [PDF]
Survey of Nonprofits Reveals Impact of Economic and State Budget Crises
Illinois nonprofit corporations are hurting from the combined impact of a down economy and a state budget crisis, according to a recent survey conducted by IFF and the public policy magazine Illinois Issues. This survey is also featured in Illinois Issue's April edition.
A Step Forward for Child Care and Working Families
Chicago, IL - The Child Care Facilities Financing Act of 2009 - introduced today in the U.S. House of Representatives by Rep. Carolyn McCarthy - represents a major step forward for the child care field and the health, development and security of children whose families depend on child care centers. The Act will allow the U.S. Department of Health and Human Services to award competitive grants to experienced nonprofit community development corporations to finance the acquisition, construction, and improvement of child care facilities.
Community Finance Leader Joins IFF as New Wisconsin Director
As IFF prepares to open its first-ever Wisconsin office, the Midwest's largest nonprofit facilities lender turns to Milwaukee nonprofit and lending expert Lanie Wasserman to fill the position of Director of Wisconsin Operations. Spearheading IFF's growing role in Wisconsin's nonprofit lending market, Ms. Wasserman will draw on her most recent experience as the Chief Operating Officer at Legacy Redevelopment Corporation (a Legacy Bank affiliate).
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IFF Receives Wachovia NEXT Award for Ambitious Midwestern Expansion Plan
IFF has been awarded the prestigious Wachovia NEXT award honoring innovative financial approaches and responsible lending. IFF was honored for its innovative capital financing model and bold strategy to expand its lending services in Illinois, Iowa, Indiana, Missouri and Wisconsin. IFF will use the funds to become a truly regional Midwestern CDFI.
CDFI Fund awards $1MM for IFF's Midwest expansion
The U.S. Treasury Department’s Community Development Financial Institution (CDFI) Fund awarded IFF $1 million to support its Midwest expansion and allow it to provide more flexible, below-market financing to nonprofits serving low-income areas in Missouri, Iowa, Indiana and Wisconsin.
IFF picked to compete for $8.5MM Wachovia NEXT Awards
This award is one of the largest and most prestigious in the financial services industry. A winner will be announced on December 10, 2008.
First-ever survey on the financial health of Missouri nonprofits
Missouri Nonprofits: 7/18/08: Building Capacity for the 21st Century establishes a baseline of data on the finances and management of small to midsized nonprofits that provide direct services to the Missouri public. It was conducted in partnership with the Nonprofit Financial Services Center in St. Louis, MO.
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First-ever National Talk on the Future of Charter School Finance
Financing the Future: Meeting the Needs of Charter Schools is the first conference in the U.S. to exclusively address the issue of charter school real estate finance, one of the most challenging issues for the charter school movement. Finance authorities, investors, and charter school leaders examine and discuss financing and capital investment models being pioneered across the country.
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IFF + Federal Grant + Wall Street Financing = High-quality Charter School Choices for Inner-city Chicago Parents
Through its Illinois Charter Capital Program (ICCP), IFF is the first and only financial institution in the U.S. to leverage an $8 million grant from the U.S. Department of Education to attract $18.7 million in Wall Street investments for charter schools.
IFF and Grand Victoria Foundation Help Nonprofits Go 'Green' With Child Care Classroom Makeover Grants
Seven Peoria-area centers get classroom design problems solved, plus makeovers will employ green building techniques for added economic, social and environmental benefits.
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New office helps IFF bring affordable capital to Central Illinois
While IFF has been active in central Illinois for some time, with more than 50 loans closed to date, the new office in Peoria allows IFF to meet its goal of providing more personal contact and developing stronger relationships with nonprofits here.
New Study Examines Financial Health Of Illinois Nonprofits
Getting It Right: How Illinois Nonprofits Manage for Success is a survey co-sponsored by IFF and the Donors Forum of Chicago on the financial health of nonprofits in Illinois. The study covers the years of 2001 to 2003 and its results highlight challenges and opportunities nonprofit organizations face.
lFF Exceeds 400 Loans to Illinois Nonprofits
IFF's lending model, created in 1990, was backed by extensive research affirming the enormous need among nonprofits and by the success of two nonprofit loan funds piloted in the Chicago nonprofit community. Today, achieving a milestone of more than 400 closed loans throughout the state demonstrates the success of and need for IFF’s approach with Illinois nonprofits.
IFF and Grand Victoria Foundation Award Childcare Classroom Improvement Grants
IFF awarded grants to “makeover” classrooms at Waukegan and North Chicago child care centers. The Fresh Spaces for Learning Places grants, part of IFF’s Building Blocks program, are funded by the Grand Victoria Foundation and bring vital private sector expertise to programs targeted at low-income families.
Resources to Bring More Affordable Housing to Downstate Illinois
As part of Illinois Affordable Housing Week, IFF introduces new below-market financing available to nonprofit organizations developing affordable housing and Statewide Housing Action Coalition announced technical assistance resources for employer assisted housing programs.
Early Child Care and Education Industry Vital to the State's Economy
Conducted by the National Economic Development and Law Center, and reported by IFF, Action for Children and Chicago Metropolis 2020, a new report demonstrates for the first time the direct economic benefits of the early care and education industry as well as its long-term impact on the Illinois economy.
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