Benchmark: IFF Closes 600th Loan

Good News Partners of Chicago, Illinois, is IFF’s 600th closed loan. The $95,000 loan will pay off high-priced debt and allow Good News to use the savings to make improvements to two residential buildings in the Rogers Park neighborhood. Good News provides affordable housing, job training, addiction recovery counseling and youth programs.

To learn more about IFF’s Loan Program, discuss financing or request IFF literature to distribute, call IFF toll-free at (866) 629-0060 or visit http://www.iff.org/lending

IFF Opens Third Fully-Staffed Office

The Shell Building at 1220 Locust Street in St. Louis, Missouri is the location of IFF’s newest office. Opened in January 2008, the office represents the success of IFF’s loan products for nonprofits in Missouri. After little more than a year, IFF has made $7.2 million in loans, most in the St. Louis area.

Kirby Burkholder, a senior IFF staff member, is Director of Missouri Operations and is responsible for working throughout the state.

To learn more about the Missouri office, or to speak with Kirby about Missouri-based projects, please call (314) 588-8840.

Charter School Capital Program Serves Indiana

Drexel Foundation for Education Excellence, Inc. of Gary, Indiana received a $990,000 loan in late 2007. The loan will allow for acquisition and pre-development costs for Thea Bowman Leadership Academy (TBLA) to construct a $16 million middle and high school. The new building will allow TBLA to expand its enrollment and serve students from Kindergarten through high school in appropriate facilities. The redevelopment of the parcel also will provide an economic development opportunity in the community.

TBLA opened in 2003 and currently serves 649 students from Kindergarten through 10th grade; sixty percent of the students come from low-income families.

“IFF has decades of experience advising nonprofits, and understands better than anyone the challenges and constraints of charter school facility projects,” said Tim Ricordati, Vice President of New Schools Development for American Quality Schools, which operates TBLA. “Thanks to the assistance and expertise of IFF, the students of Thea Bowman have been provided with a brighter educational future.”

To learn more about IFF’s Charter School Capital Program, call Jill Levine, Director of School Services, toll-free at (866) 629-0060 or visit www.iff.org.

Client Success Story: WTVP Peoria, IL

WTVP-TV, public television in Peoria, Illinois, will stay on the air, thanks to the success of a “Save our Station” campaign. IFF, National City Bank, Caterpillar and nearly 6,300 individual donors throughout Central Illinois stepped up when WTVP-TV announced in December that it was in the midst of a serious funding shortfall as a result of previous borrowing for new equipment and relocation costs.

WTVP now has a new $2 million mortgage, which includes $750,000 from IFF and $1.25 million from National City Bank. More than $300,000 in pledges have been matched by Caterpillar.

“Public television is the cornerstone of our community,” said WTVP-TV CEO and President Chet Tomczyk. “Continuing to provide this public service to Central Illinois residents is vitally important to us. Without the generous support from the thousands of people who donated and the financing offered by IFF and National City, we wouldn’t be able to maintain the programs and services they want and use.”

IFF and other community partners have committed to help sustain the station to ensure that this public broadcasting station continues to operate.

By Any Measure: Twenty Years of Collaboration with the Child Care Field

“By Any Measure” details IFF’s leadership role in the research, planning, development, management, financing, and design of child care facilities over 20 years. Throughout these years and in today’s projects the underlying goal has remained constant: to strengthen and assist the nonprofit corporations whose mission is the care and education of young children. This commitment to the field of child care represents a broad and deep dedication. IFF continues to work on statewide policy, provide below-market loans, and apply real estate expertise.

“By Any Measure” may be downloaded on IFF’s Web site or by clicking here.

IFF Wins Social Capitalist Award

Each year, Fast Company Magazine recognizes a select number of organizations with its “Social Capitalist Award.” The awards represent the most comprehensive effort to evaluate and honor nonprofit organizations—with the intent of both encouraging social entrepreneurs and holding them accountable.

This award to IFF recognizes its leadership in the use of business tools to meet the needs of its target market and its demonstrated consistent performance.

IFF was selected as a recipient after a four-month evaluation by Fast Company indicated that the IFF exceeds criteria on five key dimensions: Social Impact, Aspiration and Growth, Entrepreneurship, Innovation and Sustainability.

“IFF is delighted to be part of this esteemed group of award winners who have developed models to achieve a direct and systematic impact on social change,” said Trinita Logue, IFF president and CEO.

www.fastcompany.com/social/2008/profiles/iff.html.

Projecting Your New Occupancy Budget

Visit IFF’s online library of free technical assistance worksheets for nonprofits at www.iff.org. This issue of ifffyi features Worksheet 13 - Projecting Your New Occupancy Budget. Designed to help accurately determine the costs of operating a facility by defining every expense item including mortgage, property taxes, utilities, all maintenance items, payroll and administration fees.

IFF recommends an annual evaluation of occupancy costs. This worksheet and accompanying MS Excel template can be downloaded here:

No. 13: Projecting Your New Occupancy Budget www.iff.org/resources/content /1/4/3/documents/TA13-Occupancy_Budget.pdf

No. 13: Accompanying Microsoft Excel Template www.iff.org/resources/content
/1/4/3/documents/Wksht13Occbudget.xls.

IFF’s entire library of technical assistance worksheets and Microsoft Excel templates can be downloaded from IFF's web site www.iff.org/content.cfm/tat.