Idaho Community Reinvestment Corporation

Organization Overview

Idaho Community Reinvestment Corporation is located in Boise, ID. The organization was established in 2000. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Idaho Community Reinvestment Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 04/2021, Idaho Community Reinvestment Corporation generated $743.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (9.8%) each year. All expenses for the organization totaled $735.1k during the year ending 04/2021. As we would expect to see with falling revenues, expenses have declined by (10.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE DEVELOPMENT OF AFFORDABLE HOUSING

Describe the Organization's Program Activity:

Part 3 - Line 4a

SINCE INCEPTION, ICRC HAS PROVIDED LONG-TERM FINANCING AND RELATED REFINANCING ACTIVITIES FOR 2,093 MULTI-FAMILY AFFORDABLE HOUSING UNITS IN THE STATE OF IDAHO. THE PRIMARY FOCUS FOR THESE UNITS IS FOR TENANTS EARNING FROM 30% TO 60% OF THE AREA MEDIAN INCOME. ICRC'S PRIMARY MISSION IS PROVIDING FINANCING TO SUPPORT AFFORDABLE HOUSING BY ACTIVELY MARKETING COMPETITIVE LOAN PRODUCTS TO ENCOURAGE DEVELOPERS TO PROVIDE MULTIFAMILY AND SENIOR AFFORDABLE HOUSING IN IDAHO. THE ONGOING COVID-19 PANDEMIC DID NOT HAVE ANY MATERIAL IMPACT ON THE OPERATIONS OF ICRC.


SINCE INCEPTION, ICRC HAS PROVIDED LONG-TERM FINANCING AND RELATED REFINANCING ACTIVITIES FOR 2,093 MULTI-FAMILY AFFORDABLE HOUSING UNITS IN THE STATE OF IDAHO. THE PRIMARY FOCUS FOR THESE UNITS IS FOR TENANTS EARNING FROM 30% TO 60% OF THE AREA MEDIAN INCOME. ICRC'S PRIMARY MISSION IS PROVIDING FINANCING TO SUPPORT AFFORDABLE HOUSING BY ACTIVELY MARKETING COMPETITIVE LOAN PRODUCTS TO ENCOURAGE DEVELOPERS TO PROVIDE MULTIFAMILY AND SENIOR AFFORDABLE HOUSING IN IDAHO. THE ONGOING COVID-19 PANDEMIC DID NOT HAVE ANY MATERIAL IMPACT ON THE OPERATIONS OF ICRC.


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Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$739,108
Investment income $4,636
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $743,744

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