National Community Investment Fund Irrv Tr
- Assets
- $49.9m
- Revenue
- $9.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 02/1996
- Data as of
- 12/2021
- EIN
- 36-7120987
Organization Overview
National Community Investment Fund Irrv Tr is located in Chicago, IL. The organization was established in 1996. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Community Investment Fund Irrv Tr is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, National Community Investment Fund Irrv Tr generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.2% each year . All expenses for the organization totaled $4.2m during the year ending 12/2021. While expenses have increased by 10.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
NATIONAL COMMUNITY INVESTMENT FUND (NCIF), WWW.NCIF.ORG, IS A NATIONAL NONPROFIT (501 (C) 4) COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) FORMED IN 1996 WITH A MISSION TO INCREASE ACCESS TO RESPONSIBLE FINANCIAL PRODUCTS AND SERVICES IN UNDERSERVED COMMUNITIES. DURING 2021, NCIF SET UP NCIF NFP INC. AS A SUPPORTING 501 (C) 3 NONPROFIT ORGANIZATION TO HELP RAISE FUNDING AND CHARITABLE CONTRIBUTIONS FROM PUBLIC AND PRIVATE PARTNERSHIPS AND PATIENT DEBT TO FINANCE ACTIVITIES THAT WILL GENERATE IMPACT IN UNDERSERVED LOW-INCOME COMMUNITIES, CATALYZE EMPLOYMENT, AND CONTRIBUTE TO THE REDUCTION OF THE RACIAL WEALTH GAP. AS OF DECEMBER 31, 2021, NCIF AND CONSOLIDATED SUBSIDIARIES HAD TOTAL ASSETS ON BALANCE SHEET OF $50 MILLION. IN ADDITION, IT HAS $158 MILLION OF NEW MARKETS TAX CREDITS (NMTC) ALLOCATIONS OUTSTANDING TAKING TOTAL AUM TO $208 MILLION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
SEE SCHEDULE O
OTHER PROGRAM SERVICES PRIMARILY CONSISTS OF EXPENSES RELATE TO THE NCIF NETWORK - NCIF OPERATES THE NCIF NETWORK FOR PROVIDING IDEAS TO FACILITATE GROWTH OF THE SECTOR INCLUDING BUT NOT LIMITED TO NEW PRODUCT DEVELOPMENT, CAPITAL RAISING, RISK MANAGEMENT, NEW TECHNOLOGY, VALUATION, GOVERNANCE AND IMPACT ANALYSIS. NCIF REGULARLY LEVERAGES AND EXPANDS THIS NETWORK OF BANKS AND CDFIS TO PROVIDE VALUABLE EVENTS FOR BOTH ORGANIZATIONS AND INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carlton Jenkins Chair | OfficerTrustee | 2.5 | $15,000 |
Robert Schall Trustee | Trustee | 2 | $11,250 |
Mark Willis Trustee | Trustee | 2 | $11,250 |
Mary Tingerthal Trustee | Trustee | 2 | $11,250 |
David Mcgrady Trustee - Term | Trustee | 2 | $7,500 |
Alfonso Lau Trustee - Term | Trustee | 2 | $7,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Novogradac Accounting & Tax | 12/30/21 | $227,496 |
Dentons Us Llp Legal | 12/30/21 | $102,066 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,620,765 |
| All other contributions, gifts, grants, and similar amounts not included above | $63,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,683,765 |
| Total Program Service Revenue | $2,844,350 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,766,805 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,294,920 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $405,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $91,250 |
| Compensation of current officers, directors, key employees. | $91,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $2,818,284 |
| Fees for services: Legal | $178,731 |
| Fees for services: Accounting | $112,511 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,500 |
| Office expenses | $265 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $9,066 |
| Interest | $403,822 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $54,586 |
| All other expenses | $0 |
| Total functional expenses | $4,221,460 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,927,894 |
| Savings and temporary cash investments | $143,562 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $144,747 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $17,074,160 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $28,283 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $20,556,117 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $49,874,763 |
| Accounts payable and accrued expenses | $775,278 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,017,613 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $25,000 |
| Total liabilities | $13,817,891 |
| Net assets without donor restrictions | $35,493,633 |
| Net assets with donor restrictions | $563,239 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,874,763 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Community Investment Fund Irrv Tr has recieved totaling $500,000.
| Awarding Organization | Amount |
|---|---|
Expanding Black Business Nfp Chicago, IL PURPOSE: COVID-19 RECOVERY | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Community Investment Fund Irrv Tr Chicago, IL | $49,874,763 | $9,294,920 |
Cedar Valley Friends Of The Family Inc Waterloo, IA | $2,837,799 | $5,986,099 |
Dairy Lab Services Inc Dubuque, IA | $2,147,827 | $2,967,894 |
Ladies Union Benevolent Association St Joseph, MO | $16,215,368 | $4,268,127 |
National Association Of Electrical Distributors Education Foundation St Louis, MO | $19,969,630 | $3,274,087 |
Greater Green Bay Chamber Of Commerce Foundation Inc Green Bay, WI | $2,890,843 | $1,952,883 |
Felix E Martin Jr Foundation Inc Louisville, KY | $76,641,628 | $5,817,946 |
St Joseph Services Inc Chicago, IL | $1,123,789 | $1,648,775 |
Fiscal Sponsorship Allies Inc Indianapolis, IN | $762,742 | $2,068,293 |
Association Of Equipment Management Professionals Inc Middleton, WI | $87,248 | $1,345,748 |
Rural Improvement Society Sycamore, IL | $12,621,266 | $2,148,752 |
Community Foundation Of The Ozarks Stock Tr Springfield, MO | $1,328,697 | $902,604 |