By The Numbers
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Loan Portfolio
Our commitment to supporting the full range of nonprofits across the Midwest provides our investors with a well-secured and diversified loan portfolio. These graphs reflect the percentage of dollars in IFF’s portfolio of loans — which, as of Dec. 31, 2023, included 720 loans totaling $559.3 million.
Included in the figures below are loans made under our innovative New Markets Tax Credit (NMTC) Small Project Loan Pool, which brings the benefits of NMTC financing — low rates and seven-year, interest-only payments — to smaller nonprofit projects throughout the Midwest.
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*The vast majority of “other” represents NMTC transactions where IFF generally has an indirect interested in the collateral due to the program’s structuring requirements.
Data gathered by the U.S. Census and other federal agencies/programs — notably the Community Reinvestment Act, Housing and Urban Development, and Home Mortgage Disclosure Act — have transitioned to these new labels from income level. While the labels have changed, the percentages based on Median Family Income (MFI) have remained the same; what were “very low” and “low” are now “low” and “moderate."
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Financial Performance
Ensuring a financially strong IFF is key to maximizing our ability to best deliver on our mission. In 2023, IFF continued to maintain a strong track record of performance. Rated four-star, AAA+ from AERIS, positioning IFF as one of the handful of CDFIs in the country to merit this top rating for both impact and financial condition.
The noticeable spike in our revenues in 2020 was due to a one-time major gift of $15 million from philanthropist MacKenzie Scott.
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Managed Assets Data
Strong nonprofits are essential to strong communities, and the ability of nonprofits to own their facilities is a key part of that equation. Most of the time, that’s where we start — our lending and consulting tools are designed to support nonprofits ready to own facilities.
Sometimes, IFF will temporarily own facilities during a predevelopment or construction phase as permanent financing is acquired — or, a bit longer as operations stabilize — before transferring them back to local hands. Other times, and always at the direction of the community, IFF acts as a permanent, long-term owner where no other potential owner is present or ready, but the community demand for the facility is strong.
IFF now owns and/or manages nearly three-quarters of a million square feet of real estate across our footprint.
