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Community Investment Corp

EIN 36-2780862 · Chicago, IL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair67 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

COMMUNITY INVESTMENT CORPORATION (CIC) IS A NOT-FOR-PROFIT 501(C)(3) CORPORATION. INCORPORATED IN 1973, CIC'S MISSION IS TO BE THE LEADING FORCE IN NEIGHBORHOOD REVITALIZATION THROUGH INNOVATIVE FINANCIAL PROGRAMS. IN PURSUIT OF THIS MISSION, CIC HAS BECOME THE LEADING LENDER FOR THE ACQUISITION, REHABILITATION, AND PRESERVATION OF AFFORDABLE RENTAL HOUSING THROUGHOUT THE CHICAGO METROPOLITAN AREA. CIC PROVIDES ONE OF THE VERY FEW SOURCES OF CAPITAL FOR REDEVELOPING AND MAINTAINING AFFORDABLE RENTAL HOUSING, PRIMARILY LOCATED IN LOW AND MODERATE-INCOME COMMUNITIES. CIC EXERCISES SOUND MANAGEMENT AND FISCAL PRUDENCE IN ITS OPERATIONS.

Income
$24.8 million
Spending
$22.7 million
Spent on programs
85%
Reserves
33 months of spending
Largest source of income
fees for its services, 91%
Employees
48
Volunteers
17
Highest pay
$374,205, president

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 67 out of 100. Higher than 63% of charities in its peer group (housing, $10m to $100m).

  • Reserves

    35 of 35

    Spendable reserves would cover 33.0 months of spending.

  • Debt

    2 of 20

    It owes 82% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 9% of income.

  • Income trend

    0 of 15

    Income fell 36% on the year before.

  • Spending floor

    15 of 15

    85% of spending went to programs and raising each dollar of donations cost 10 cents.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 44% of charities in its peer group (housing, $10m to $100m).

  • Independent board

    25 of 25

    17 of 18 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $17.9 million spent. DURING FY 2025, CIC CLOSED 59 LOANS FOR A TOTAL OF $49.2 MILLION UNDER THE MULTIFAMILY LOAN PROGRAM. THESE LOANS FINANCED THE ACQUISITION AND REHAB OF 962 RESIDENTIAL AND 27 COMMERCIAL UNITS. ALL LOANS CARRIED A 10-YEAR TERM AND MOST LOANS HAD A 25-YEAR AMORTIZATION. IN TOTAL, AT THE CLOSE OF FY 2025, CIC'S MULTIFAMILY LOAN PROGRAM PORTFOLIO STANDS AT $177.2 MILLION OF NOTES SOLD TO INVESTORS. (EXPENSES $ 0 INCLUDING GRANTS OF $ 0)(REVENUE $ 0) CIC FORMED CEPF, LLC (CEPF), A SINGLE-MEMBER LIMITED LIABILITY COMPANY TO MAKE REAL ESTATE INVESTMENTS THROUGH JOINT VENTURES OF MULTIFAMILY RENTAL AND/OR FOR-SALE RESIDENTIAL PROJECTS IN LOW- AND MODERATE-INCOME COMMUNITIES.
  2. $771,926 spent. IN FY 2018, CIC AND THE PRESERVATION COMPACT SECURED $34 MILLION TO CREATE THE OPPORTUNITY INVESTMENT FUND (OIF), AN INNOVATIVE, STREAMLINED VEHICLE TO FINANCE MULTIFAMILY RENTAL BUILDINGS AND CREATE AFFORDABLE HOUSING IN HIGH COST NEIGHBORHOODS. OIF PROVIDES EXISTING, FUNCTIONING MULTIFAMILY RENTAL BUILDINGS WITH LOW-COST MEZZANINE DEBT. IN RETURN, OWNER WILL KEEP 20% OF THEIR UNITS AFFORDABLE FOR 15 YEARS. BOTH NON-PROFIT AND FOR-PROFIT OWNERS WILL BE ABLE TO USE OIF. OWNERS MAY CHOOSE TO USE HOUSING CHOICE VOUCHERS OR OTHER TYPES OF OPERATING SUBSIDY TO HELP OFFSET REDUCED RENTS FOR THE AFFORDABLE UNITS. IN FY 2025, CIC CLOSED SIX LOANS FOR $1.6 MILLION IN OIF MEZZANINE DEBT. IN ADDITION, CIC CLOSED SIX FIRST MORTGAGES FOR $8.8 MILLION AS PART OF THE OIF TRANSACTIONS. THESE LOANS WERE FOR BUILDINGS WITH A TOTAL OF 230 UNITS OF MIXED-INCOME HOUSING, OF WHICH 46 UNITS ARE AFFORDABLE TO HOUSEHOLDS AT 50% AMI. OVERALL, SINCE INCEPTION, $14.4 MILLION IN OIF LOANS HAVE BEEN CLOSED, AND CIC HAS PROVIDED $63.8 MILLION IN ASSOCIATED FIRST MORTGAGE FINANCING.
  3. $578,944 spent. SINGLE-FAMILY RENTAL PROPERTY LOANS: THIS PROGRAM WOUND DOWN EFFECTIVE IN MARCH 2025. SINCE THE INCEPTION OF THIS PROGRAM 9 YEARS AGO, CIC HAS CLOSED 84 LOANS FOR $47.8 MILLION TOTALING 796 RESIDENTIAL UNITS. (EXPENSES $ 0 INCLUDING GRANTS OF $ 0)(REVENUE $ 0) CIC FORMED CEPF, LLC (CEPF), A SINGLE-MEMBER LIMITED LIABILITY COMPANY TO MAKE REAL ESTATE INVESTMENTS THROUGH JOINT VENTURES OF MULTIFAMILY RENTAL AND/OR FOR-SALE RESIDENTIAL PROJECTS IN LOW- AND MODERATE-INCOME COMMUNITIES.
  4. CIC FORMED CEPF, LLC (CEPF), A SINGLE-MEMBER LIMITED LIABILITY COMPANY TO MAKE REAL ESTATE INVESTMENTS THROUGH JOINT VENTURES OF MULTIFAMILY RENTAL AND/OR FOR-SALE RESIDENTIAL PROJECTS IN LOW- AND MODERATE-INCOME COMMUNITIES.

Source: Form 990 for the year ending September 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending September 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since November 1974.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.