IFF’s 2023 Annual Report: A Historic Investment in Local Changemakers May 7, 2024

On Thursday, May 2, 2024, IFF held its annual investors meeting for funders, investors, and board members to share an overview of the organization’s performance and impact in the previous year and to look ahead to upcoming priorities. In conjunction with the event, IFF’s 2023 annual report was released, which celebrates a year in which we made more loans to more nonprofits than ever before in our 35-year history while scaling our platform of leadership, capital, and real estate solutions to deliver a historic investment in local changemakers.

Specifically, in 2023, we:

Closed a record 153 loans providing $233.9 million in capital to nonprofit changemakers—exceeding our previous high by over $100 million;
Raised $130 million in capital to support the incredible demand for our loans;
Through our lending, leveraged $1.28 billion in total community investment and supported the development of 4.97 million square feet of real estate;
Consulted on 90 nonprofit facilities projects, including managing the construction of over 32,000 square feet of real estate;
Completed two community-driven development projects in the Chicago Metro area, with additional projects underway in Detroit, Grand Rapids, and St. Louis;
Surpassed the $1 billion threshold in total managed assets.

In addition to these milestones, we also deepened IFF’s presence across our Midwest region—opening an office in Cleveland to better serve Northeast Ohio; appointing an executive director to lead and grow our work in Indiana; partnering with state and local government in Michigan to expand quality child care facilities and build affordable housing; working with state and local government in Illinois to convert once vacant hotels into safer and more stable shelters for the unhoused population; and continuing to engage with stakeholders in cities and states across the region to support a facilities-forward approach to expanding the availability of quality child care by leveraging our research, programming, development, and more.

Watch the video below to hear more about 2023 highlights.

To read IFF’s 2023 annual report, click here, and for a short summary of IFF’s impact and financials in 2023, click here.

Scroll down for photos from the annual investors meeting, which featured several IFF clients who shared how flexible capital and additional support from IFF has helped the organizations they lead expand their capacity and amplify their impact. This included:

Shermann “Dilla” Thomas, founder and CEO of Chicago Mahogany Foundation, who has become one of Chicago’s most important cultural ambassadors as he’s shared his love of neighborhood history with the world;
Nakisha Hobbs, founder and CEO of It Takes a Village Family of Schools, which is working to strengthen communities in Chicago by providing access to high-quality, culturally responsive education and social services across a network of schools and programs; and
Kyle Smitley, founder and executive director of Detroit Achievement Academy and Detroit Prep, two public K-8 charter schools that have not only had a big impact on students, but created a ripple effect of positive change in the communities where they’re located.