IFF receives its largest New Markets Tax Credits allocation from U.S. Treasury July 1, 2014

IFF received its third and largest New Markets Tax Credits (NMTC) allocation in the amount of $43 million from the U.S. Treasury Department’s Community Development Financial Institution (CDFI) Fund. The allocation, announced last month, was part of $3.5 billion of tax credits awarded to 87 organizations nationwide for investment in low-income communities. Previously, in 2002 and 2011, IFF had received a total of $35 million. IFF will use the tax credits to support projects considerably larger than those in our core lending program.