Nonprofit · EIN 36-3656836
IFF
Tax-exempt · CHICAGO, IL 60604
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $62,525,991 | $61,504,665 | $1,021,326 | $828,286,048 | $635,013,476 | $193,272,572 |
| December 31, 2024 | 990 | $134,604,883 | $73,001,008 | $61,603,875 | $779,493,171 | $581,969,537 | $197,523,634 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $8,439,434
- of which government grants
- $1,504,650
- Program service revenue
- $48,592,552
- Investment income
- $5,494,005
- Net gain from sales of assets
- $2,891,518
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $4,329,173
- Compensation of officers, directors and key employees
- $4,175,354
- Other salaries and wages
- $14,132,165
- Salaries, compensation and benefits (total)
- $22,042,440
- Professional fundraising fees
- $0
- Legal fees
- $93,718
- Accounting fees
- $216,614
- Occupancy
- $5,883,161
- Travel
- $721,776
- Depreciation
- $1,487,822
- Program services (functional)
- $56,932,236
- Management and general (functional)
- $4,017,073
- Fundraising (functional)
- $555,356
Balance sheet and other
- Total assets, start of year
- $779,493,171
- Total assets, end of year
- $828,286,048
- Total liabilities, end of year
- $635,013,476
- Net assets, end of year
- $193,272,572
- Land, buildings and equipment
- $39,091,076
- Publicly traded securities
- $22,705,412
- Net assets without donor restrictions
- $139,342,190
- Net assets with donor restrictions
- $53,930,382
- Gross receipts
- $73,433,652
- Employees
- 188
- Volunteers
- 48
- Year formed
- 1988
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Joe Neri | CEO Trustee or director, Officer | 40 | $906,136 | $23,457 |
| Rodrigo Vela | CFO & Asst. Secretary until 11/10/25 Officer | 40 | $447,665 | $43,267 |
| Kirby Burkholder | President, Core Business Solutions Officer | 39 | $359,282 | $29,948 |
| Tara Townsend | President, Social Impact Accelerator Officer | 40 | $271,926 | $36,322 |
| Jose Cerda III | Chief of Staff Highest-paid employee | 40 | $251,339 | $30,063 |
| Dana Lieberman | SVP Cap. Sol., Chief Lending Officer Highest-paid employee | 40 | $248,247 | $22,885 |
| Chris Uhl | Exec. Director - Eastern Regiom Highest-paid employee | 40 | $212,754 | $46,298 |
| Victoria Lakes-Battle | Exec. Director - Chicago Region Highest-paid employee | 40 | $234,251 | $15,798 |
| Casey Rooney | Interim CFO & Asst. Secretary Officer | 39 | $206,868 | $28,137 |
| Michael Goldberg | SVP Real Estate Solutions Highest-paid employee | 40 | $216,485 | $15,557 |
| Sakura Takano | Board Chair Trustee or director, Officer | 1 | $0 | $0 |
| Monique Jones | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| John Sassaris | Treasurer/Secretary Trustee or director, Officer | 1 | $0 | $0 |
| George Burciaga | Board Member Trustee or director | 1 | $0 | $0 |
| Hamilton Chang | Board Member Trustee or director | 1 | $0 | $0 |
9 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| James Due | Board Member until 7/31/25 Trustee or director | 1 | $0 |
| Derrick Johnson | Board Member Trustee or director | 1 | $0 |
| Debby Kasemeyer | Board Member Trustee or director | 1 | $0 |
| Jason Mercer | Board Member Trustee or director | 1 | $0 |
| Emmet Pierson | Board Member Trustee or director | 1 | $0 |
| Angela Reyes | Board Member until 6/12/25 Trustee or director | 1 | $0 |
| Greg Robinson | Board Member Trustee or director | 1 | $0 |
| Aaron Seybert | Board Member Trustee or director | 1 | $0 |
| Ed Wood | Board Member Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Joe Neri | CEO Trustee or director, Officer | 40 | $377,300 | $19,660 |
| Kirby Burkholder | President, Core Business Solutions Officer | 39 | $337,234 | $28,336 |
| Tara Townsend | President, Social Impact Accelerator Officer | 40 | $260,904 | $34,081 |
| Jose Cerda III | Chief of Staff Highest-paid employee | 40 | $240,613 | $28,969 |
| Dana Lieberman | SVP Cap. Sol., Chief Lending Officer Highest-paid employee | 40 | $233,284 | $17,510 |
| Victoria Lakes-Battle | Exec. Director - Chicago Region Highest-paid employee | 40 | $220,111 | $15,782 |
| Michael Goldberg | SVP Real Estate Solutions Highest-paid employee | 40 | $205,676 | $12,273 |
| Terrence Young | Chief Credit Officer & SVP Cap. Sol. Highest-paid employee | 40 | $203,107 | $12,072 |
| Rodrigo Vela | CFO & Assistant Secretary Officer | 40 | $160,253 | $13,552 |
| Lloyd Shields Acting CFO | Assistant Secretary (until 9/10/24) Officer | 40 | $88,025 | $0 |
| Suza Leao-Reuter | CFO & Assistant Secy. (until 3/1/24) Officer | 39 | $50,622 | $12,684 |
| Cheryl Wilson | Board Chair (until 12/31/24) Trustee or director, Officer | 1 | $0 | $0 |
| Sakura Takano | Board Chair Trustee or director, Officer | 1 | $0 | $0 |
| Monique Jones | Vice Chair Trustee or director, Officer | 1 | $0 | $0 |
| John Sassaris | Treasurer/Secretary Trustee or director, Officer | 1 | $0 | $0 |
| George Burciaga | Board Member Trustee or director | 1 | $0 | $0 |
| Hamilton Chang | Board Member Trustee or director | 1 | $0 | $0 |
| Evelyn Diaz | Board Member (until 12/31/24) Trustee or director | 1 | $0 | $0 |
| Sidney Dillard | Board Member (until 12/31/24) Trustee or director | 1 | $0 | $0 |
| James Due | Board Member Trustee or director | 1 | $0 | $0 |
| Derrick Johnson | Board Member Trustee or director | 1 | $0 | $0 |
| Rodney Jones-Tyson | Board Member (until 12/31/24) Trustee or director | 1 | $0 | $0 |
| Jason Mercer | Board Member Trustee or director | 1 | $0 | $0 |
| Emmet Pierson | Board Member Trustee or director | 1 | $0 | $0 |
| Angela Reyes | Board Member Trustee or director | 1 | $0 | $0 |
| Greg Robinson | Board Member Trustee or director | 1 | $0 | $0 |
| Aaron Seybert | Board Member Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 333 S WABASH AVE STE 2800, CHICAGO, IL 60604-4264
- In care of
- % IFF
- Principal officer (990 for 2025)
- Kirby Burkholder, 333 S Wabash Ave Ste 2800, Chicago, IL 60604
- Signed the 990
- Kirby Burkholder, Chief Executive Officer
- Phone
- (312) 629-0060
- Return prepared by
- RSM US LLP
Mission
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
Program accomplishments
- 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.Expenses $28,950,173 · grants $392,131 · revenue $42,153,818
- 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.Expenses $8,594,971 · grants $297,440 · revenue $3,222,176
- 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.Expenses $7,951,760 · grants $76,038 · revenue $2,833,833
- 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.Expenses $6,765,281 · grants $3,563,564 · revenue $176,400
- 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.Expenses $3,045,381 · revenue $206,325
- 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.Expenses $1,624,670
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 36-3656836
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1990
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S500)
- Assets (IRS master file)
- $828,286,048
- Income (IRS master file)
- $73,433,652
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | – | – | – | IRS |
| 990 | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $102,836,770 | $96,465,275 | $689,365,712 | IRS |
| 990 | December 2022 | $64,193,835 | $60,208,929 | $568,632,430 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.
Questions about IFF
- What is the EIN of IFF?
- The employer identification number (EIN) of IFF is 36-3656836.
- Is IFF tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1990.
- Are donations to IFF tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does IFF file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of IFF due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IFF last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of IFF?
- The 990 for the year ended December 31, 2025 names Kirby Burkholder.
- Who are the officers and directors of IFF?
- The 990 for the year ended December 31, 2025 lists 24 people; 10 received compensation from the organization, the highest $906,136 (Joe Neri, CEO).
- How much revenue does IFF have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $62,525,991, expenses of $61,504,665 and total assets of $828,286,048 at year end.
Other nonprofits in CHICAGO
- COMMUNITY AND ECONOMIC DEVELOPMENT ASSOCIATION OF COOK COUNTY INC EIN 36-2597741 · last filed 990 for 2025
- DEVELOPMENT NOW FOR CHICAGO EIN 87-3817002 · last filed 990 for 2024
- AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION EIN 20-0487810 · last filed 990 for 2024
- HEALTHCARE INFORMATION AND MANAGEMENT SYSTEMS SOCIETY EIN 36-3906745 · last filed 990 for 2022
- SOCIETY OF ACTUARIES PROFESSIONAL ASSOCIATION EIN 83-4526499 · last filed 990 for 2024
- CHICAGO COMMUNITY LOAN FUND EIN 36-3762123 · last filed 990 for 2025
- MIDWAY AIRLINES TERMINAL CONSORTIUM EIN 36-4191134 · last filed 990 for 2024
- SOUTHWEST ORGANIZING PROJECT EIN 36-4090773 · last filed 990 for 2025
All nonprofits in CHICAGO · Illinois · Community improvement and capacity building