Our Impact

Explore IFF’s impact since 1988.

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2001

Milestone: 200th loan closed

The growth was evident as IFF closed its 200th loan.

2001

First affordable housing loan approved

IFF made its first affordable housing loan to West Humboldt Park Homes for $215,512.

2001

Building Blocks program initiated

IFF initiated the Building Blocks program to build capacity of high-need communities to meet early care and education needs.

2002

Illinois Fund for Investment and Development created

IFF took the lead in the creation of the Illinois Fund for Investment and Development, a State program to support the community development finance field in Illinois.

2002

Chicago Project for Social Entrepreneurs launched

IFF worked to promote and assist nonprofits by launching the Chicago Project for Social Entrepreneurs.

2003

Three distinct business units recognized

IFF completed an in-depth strategic planning process that resulted in financial and organizational changes and growth, and strengthened its unwavering commitment to the nonprofit sector. The plan called for the reorganization of IFF into three distinct business units:

  • Loan
  • Real Estate Services
  • Research

2003

First New Markets Tax Credits allocated

IFF was one of only four organizations in Illinois to receive an allocation of New Markets Tax Credits (NMTC) from the U.S. Department of the Treasury’s CDFI Fund. With its allocation, IFF secured $10 million for loans to highly-distressed communities throughout the state.

2003

Children’s Capital Fund efforts completed

The Children’s Capital Fund came to a close after having created more than 132,000 square feet of child care space to serve 1,200 children in communities of great need.

2004

Loan approvals set record

Loan Department shattered its previous record by approving 101 loans worth more than $37 million.

2004

Study: Here and Now

The Research Department moved quickly, completing Here and Now, a study of, among other things, the mismatch between the need for performing public schools and the location of performing schools. The report assisted the Chicago Public Schools in its planning needs.

2005

Charter School Capital Program established

IFF was awarded $8 million in federal grant funding under the Department of Education’s Credit Enhancement Program to meet the growing need for capital investment for charter schools. IFF established the Charter School Capital Program (CSCP). In addition to the bond financing program for larger projects, the program includes lending to charter schools for projects under $1.5 million, and also includes real estate services to charter schools.

2006

First loans approved outside of Illinois

IFF’s board officially approved expansion to four states. For the first time, IFF made loans in Iowa, Missouri, and Wisconsin, with plans to expand into Indiana.

2006

IFF awarded for Charter School Capital Program

IFF won the Wachovia Award for Innovation in Finance for the design and impact of the Charter School Capital Program (CSCP) program.

2007

Illinois Facilities Fund officially changed name to IFF

With IFF lending regularly in four states, the organization officially changed its name from “Illinois Facilities Fund” to simply “IFF.”

2007

Charter school bond program expanded

IFF received a second award from the U.S. Department of Education ($10 million) to expand the charter school bond program throughout the region.

2007

Milestone: Real Estate Solutions completed its 200th project

2008

St. Louis office opened

IFF opened its office in St. Louis, Missouri. The year also marked the completion of a strategic plan to assess and adjust IFF’s work as a regional organization. The strategic plan called for IFF to grow its core business of lending and real estate while working to influence the broader landscape through a directed emphasis on public policy.

2008

IFF selected for two awards

IFF’s was selected for the $5.5 million Wachovia NEXT Award and Fast Company’s 2008 Social Capitalist Award.

2009

IFF opened office in Milwaukee

IFF opened its office in Milwaukee, Wisconsin, and the St. Louis office grew to a staff of three.

2010

First year Illinois loans exceeded by non-Illinois loans

The first year in which loans closed outside of Illinois exceeded the number of loans closed in Illinois. In terms of total dollar amount of loans closed, Wisconsin led the way with nearly $15 million, followed by Indiana, Missouri, and Iowa. IFF’s loan portfolio has loans outside of Illinois that total 30% of all lending. Real Estate Solutions had a record year, with revenue of $2.1 million based on more than 100 contracts. The Research Department maintained a busy schedule with studies of the school districts in Denver, Milwaukee and Kansas City.

2011

West Cook County Housing Collaborative established

Real Estate Solutions rehabilitated and conveyed properties in the Chicago metro area under the Neighborhood Stabilization Program. IFF established the West Cook County Housing Collaborative to guide the work. IFF received funds under a Transit Oriented Development grant, which will also involve the Collaborative.

2011

Home First program established

IFF started the Home First Illinois program. Working with Access Living, IFF obtained $15 million from the state to create and implement a program to move people with disabilities out of institutional living and into independence. For the first time, IFF will own and manage units.

2011

Health Centers for Healthy Communities kicked off

IFF kicked off Health Centers for Healthy Communities to create up to 10 much-needed Federally Qualified Health Centers (FQHC) in IFF’s region.

2011

Milestone: $1 billion leveraged

By the end of 2011, IFF had leveraged $1 billion for its clients over the years!

2011

Federal Home Loan Bank of Chicago partnership began

IFF joined the Federal Home Loan Bank of Chicago.

2012

IFF opened office in Indianapolis

IFF created the Community Strategies division to formalize its proactive community development work and opened offices in Indianapolis.