Through financing and real estate, research, and policy work, IFF is a leader in several areas, from supportive housing to healthy foods. We have made loans totaling $455 million for projects in Chicago, Rockford, Springfield, and everywhere in-between. In 1997, we created the country’s first revolving loan fund for charter schools with a Chicago Public Schools grant.
During IFF’s first decade, the state of Illinois approached us to finance and develop child care centers in low-income areas. Through the $21.7 million Child Care Facility Development program, we worked on seven facilities in Chicago, East St. Louis, Decatur, Markham, and Rockford. We also built or expanded 14 centers in Chicago and manage a social impact bond for early childhood education in Chicago.
More recently, IFF initiatives include Home First, which gives persons with disabilities community-based affordable and accessible housing options.
In Indiana, we offer financing and real estate consulting for nonprofits and have closed on loans totaling $40.8 million since 2008. We have made nearly $21.3 million in loans to Indiana charter school facilities with support from the Indiana School Facilities Loan Fund.
IFF closed our first loan in Iowa in 2006 — $451,500 to Bethany for Children and Families, a nonprofit child welfare and social services agency that has served the Davenport area for more than 100 years. Since then, IFF has closed on almost $9 million in financing for projects that provide services for low-income families, people experiencing homelessness, youth, and communities in need of access to healthy foods.
In 2014, we opened our Detroit office and have since closed over 50 loans totaling $39 million throughout Michigan, including in the Upper Peninsula and in Flint, Grand Rapids, and Muskegon. IFF also completed studies on early childhood care and education and has formed partnerships with The Kresge Foundation, the W.K. Kellogg Foundation, and the Skillman Foundation for early child care and education initiatives in the Detroit area.
IFF supports public charter schools and independent schools that serve predominantly low-income students. Through financing, research, and real estate consulting services, IFF can support proven and promising schools as defined by Great Minnesota Schools (or high-performing schools outside of Minneapolis). This work is done in partnership with Nonprofits Assistance Fund and Minnesota Comeback, a coalition of education and philanthropic leaders that is focused on growing the number of seats in quality schools, including charter schools. Through our partnership with Nonprofits Assistance Fund, we have provided loans totaling over $3.8 million.
Missouri and Metro Kansas City
IFF has made more than 150 loans to nonprofits and charter schools in Missouri and Kansas. As of the end of 2016, we have closed on loans worth more than $106 million. We offer real estate consulting in the Kansas City and St. Louis metropolitan areas, and have done research on schools in St. Louis and Kansas City, with a focus on growing the numbers of high-performing seats in the highest-need areas. Most recently, with grants from The Ewing Marion Kauffman Foundation, we are supporting quality charter schools in Kansas City through research, financing, and real estate consulting and development.
IFF’s seventh office opened in Columbus in 2014. Since then, we have provided more than $40 million to nonprofits across the state, including in Akron, Cincinnati, Cleveland, and Medina. We also have allocated nearly $20 million in new markets tax credits for Market Square at Findlay Market and the Drop Inn Center in Cincinnati, and the Salvation Army of Greater Cleveland. In Cincinnati and Dayton as well as Northern Kentucky, we provide financing to nonprofits through a partnership with Cincinnati Development Fund.
In Wisconsin, we have loaned more than $120 million to nonprofits and affordable housing providers, as well as deployed nearly $20 million in new markets tax credits to Sojourner Family Peace Center and St. Ann for Intergenerational Care in Milwaukee. We have served nonprofits in other cities including Appleton, Ashland, Iron River, and Prairie Du Chien. We also offer real estate consulting in southeast Wisconsin. Our commitment to increasing the number of high-performing schools includes a Milwaukee schools study updated with an interactive map.