Iff
Public records show a registered, tax-exempt organization in good standing.
What it says it does
IFF strengthens nonprofits and the communities they serve by providing leadership, capital, and real estate solutions.- Leadership reflects our research, policy, sector work, and convening role- Capital includes a range of financial products: loans, New Markets Tax Credits, and equity - Real Estate Solutions includes a range of consultant services, development, and ownership
- Income
- $62.5 million
- Spending
- $61.5 million
- Spent on programs
- 93%
- Reserves
- 19.6 months of spending
- Largest source of income
- fees for its services, 78%
- Employees
- 188
- Volunteers
- 48
- Highest pay
- $929,593, ceo
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 64 out of 100. Higher than 48% of charities in its peer group (community improvement, $10m to $100m).
Reserves
35 of 35Spendable reserves would cover 19.6 months of spending.
Debt
2 of 20It owes 77% of what it owns.
Living within its means
12 of 15Income exceeded spending by 2% of income.
Income trend
0 of 15Income fell 54% on the year before.
Spending floor
15 of 1593% of spending went to programs and raising each dollar of donations cost 7 cents.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 42% of charities in its peer group (community improvement, $10m to $100m).
Independent board
25 of 2512 of 13 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 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 (6)
- $29.0 million spent. Capital Solutions: This program makes affordable loans to nonprofit agencies. Since 1990, the total loan volume reached over $1.96 billion which includes 2,485 loans closed that has leveraged over $6.98 billion in capital. Since 1990, these loans to over 1,372 nonprofits have assisted with the renovation or construction of 44.56 million square feet and created 18,949 child care slots, 160,748 student seats, 864,716 new patients/visits at health care clinics, 23,199 affordable and supportive/special needs housing units, and 4,695 beds. In addition, the loans have helped to employ 94,307 full time equivalents.
- $8.6 million spent. Community Development Solutions: IFF has worked to strengthen nonprofits and their communities through our expertise in finance, real estate planning and development, and research. IFF will work with local and state government, nonprofit agencies, foundations, and other community groups to help achieve their community development goals by assessing community conditions by analyzing demographic data and trends, inventorying existing community assets, and identifying gaps. IFF also evaluates housing, human services, education, health care, investments, and job environments to provide a community conditions analysis which helps guide stakeholders to develop strategic plans and to prioritize investments. IFF will develop solutions with conceptual projects and programs with strategic partners and facilitate community partnerships by bringing relevant parties together by facilitating partnerships with strategic stakeholders and potential collaborators. Through this work, IFF has helped address a broad range of community needs - from health care, education, housing, child care, healthy food access, and job training. This program also initiates, coordinates, develops, and owns real estate projects that respond to community needs, create jobs, and transforms low-income communities in the Midwest. It acquires, owns and manages community-integrated housing for low-income disabled adults, and redeveloping foreclosed properties near public transit into affordable homes and apartments.
- $8.0 million spent. Real Estate Solutions: This program helps nonprofits make better real estate and space decisions to support growth planning, program changes, and financial and organizational capacity. The goals and objectives of each nonprofit client determine IFF's scope of consulting services, from advising on real estate strategies to solving specific need for additional or new space. Clients choose from a comprehensive menu of fully integrated services based on a proposal tailored to specific needs, all at below market fees. Services provided include feasibility assessments, facilities assessments, strategic facility plans, site search and due diligence, and owner's representative services. Since 1997, 1,836 projects have been worked on in this program and has funded the renovations or construction of over 4.1 million square feet of real estate developed. In addition, this program has created 13,357 K-12 student slots, 5,155 Early Childhood Education slots, and developed 381 housing units.
- $6.8 million spent. Social Impact Accelerator - Program & Initiatives, and Comprehensive Based Placed Initiatives (Early Child Services, and School Services) Early Child services is designed to increase capacity and improve access to quality early care and education across the Midwest states we serve. Providers can receive technical assistance, consulting services, and grants to improve facility quality. School Services is a program in which we work across all education systems with school districts, charter schools and charter school authorizers, private schools, policymakers, and education advocates to increase opportunity and improve outcomes for students. Coordinated and focused efforts allow IFF to strategize, develop, and implement programmatic responses. Informed by data, IFF helps plan, find, finance, and develop schools in the places where they are needed the most.
- $3.0 million spent. Sector Strategies, Strategic Insights, Community Data Insights, Community Engagement, Performance Impact, and Organizational Learning. We provide data and analysis to help nonprofits, foundations, and governments agencies make better decisions about resource allocation and real estate investment. Our goal is to ensure that investments and programs are targeted to where they are needed the most. We are national leaders in needs assessments that measure the supply of and demand for quality schools in urban school districts. Our initiatives have informed state and local government efforts to expand quality child care in high-needs areas, and led to new models for providing affordable, community-integrated housing to low income persons with disabilities. Community Engagement projects include needs assessment by service and geography, assessment of organizational capacity for existing or new services, qualitative analysis of nonprofit service delivery and client experience, program evaluations, nonprofit financial trends, financial health, and financial management, analysis of population and economic trends, data to support strategic planning, and mapping and analysis of program data. We are also the administrators and program developers of the Chicago Cultural Treasurers program.
- $1.6 million spent. Corporate Communication and External Affairs: IFF's corporate communications and external affairs department advances IFF's priorities in the areas of community development finance, the nonprofit sector, charter schools, early care and education, health care and housing. It also supports the growth of IFF in the Midwest. Government policy and spending decisions have big impact on our clients operating environmental and the health of the communities they serve. We engage in public policy to make sure that these decisions are based on solid data, knowledge of the nonprofit sector, and hands-on experience in community development. Our initiative has informed state and local government efforts to expand quality child care in high-need areas, and led to new models for providing affordable, community-integrated housing to low-income persons with disabilities.
Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
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.
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 November 6, 2026.
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.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since June 1990.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
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 November 4, 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.