Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1990.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
96 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
37 people listed on the 990; $3.5M paid to officers and key staff.
Joe Neri’s $906K as CEO is at the 52nd percentile of top reported officer pay among 44 $100M+ community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Joe Neri | $906,136 | $377,300 | $359,350 | $349,750 | $328,798 | $324,677 |
| Rodrigo Vela | $447,665 | $160,253 | — | — | — | — |
| Kirby Burkholder | $359,282 | $337,234 | $307,694 | $299,617 | $281,718 | $272,543 |
| Matt Roth | — | — | — | — | $291,771 | $292,986 |
| Tara Townsend | $271,926 | $260,904 | $250,131 | $225,096 | $171,827 | $160,921 |
| Suza Leao-Reuter | — | $50,622 | $262,651 | $259,354 | $264,048 | $248,980 |
| Chris Uhl | $212,754 | — | $260,692 | $206,607 | $202,664 | $196,781 |
| Jose Cerda III | $251,339 | $240,613 | $243,284 | $206,162 | $204,283 | $203,527 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
See Iff executive salaries →Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Provides affordable loans, real estate consulting, and research services to Midwest nonprofits, helping them strengthen and expand facilities in low-income and special-needs communities.
Questions for Iff
Your first name shows with your question. Iff answers here, for everyone.
Capital Solutions
This program makes below market loans to nonprofit agencies. Since 1990, the total loan volume reached over $1.3 billion which includes 2,021 loans closed that has leveraged over $4 billion in capital.
Research & Evaluation Program
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.
Development
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…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Federal money
Plus 2 smaller programs.
The auditor reported 1 finding: a material weakness in money controls.
Plus 2 smaller programs.
The auditor reported no findings.
Plus 3 smaller programs.
The auditor reported no findings.
Plus 1 smaller program.
The auditor reported no findings.
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $43.4M | $80.0M |
| InvestmentsLn 11–13 | $26.1M | $23.1M |
| Land, buildings, equipmentLn 10c | $32.8M | $30.6M |
| Total assetsLn 16 | $515.7M | $571.1M |
| LiabilitiesLn 26 | $392.7M | $426.9M |
| Net assetsLn 32 | $123.0M | $144.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $24.3M | $24.3M | ||
| Pay of current officers, directors and key staffLn 5 | $3.0M | $2.6M | $349K | $47K |
| Other salaries and wagesLn 7 | $10.4M | $9.5M | $796K | $185K |
| Pension plan contributionsLn 8 | $435K | $385K | $44K | $6K |
| Other employee benefitsLn 9 | $904K | $803K | $75K | $25K |
| Payroll taxesLn 10 | $958K | $895K | $46K | $17K |
| Management feesLn 11a | $152K | $152K | ||
| Legal feesLn 11b | $60K | $59K | $1K | $108 |
| Accounting feesLn 11c | $146K | $146K | ||
| Other fees for servicesLn 11g | $4.1M | $4.0M | $85K | $11K |
| Advertising and promotionLn 12 | $22K | $20K | $3K | $224 |
| Office expensesLn 13 | $463K | $379K | $73K | $10K |
| Information technologyLn 14 | $48K | $34K | $13K | $1K |
| OccupancyLn 16 | $2.5M | $2.0M | $410K | $36K |
| TravelLn 17 | $275K | $227K | $45K | $4K |
| Conferences, conventions and meetingsLn 19 | $70K | $59K | $10K | $878 |
| InterestLn 20 | $10.8M | $10.8M | ||
| Depreciation, depletion and amortizationLn 22 | $1.4M | $1.3M | $96K | $8K |
| InsuranceLn 23 | $231K | $195K | $33K | $3K |
| Other expenses (24a–d)Ln 24 | $685K | $523K | $149K | $13K |
| Total functional expensesLn 25 | $61.0M | $58.2M | $2.4M | $369K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Aug 21, 2026 | $62.5M | $61.5M | $1.0M | $193.3M | 990 PDF |
| FY2024Filed with the IRS Aug 19, 2025 | $134.6M | $73.0M | $61.6M | $197.5M | 990 PDF |
| FY2023Filed with the IRS Aug 16, 2024 | $102.8M | $96.5M | $6.4M | $148.4M | 990 PDF |
| FY2022Filed with the IRS Aug 21, 2023 | $64.2M | $60.2M | $4.0M | $145.3M | 990 PDF |
| FY2021 ViewingFiled with the IRS Aug 22, 2022 | $81.8M | $61.0M | $20.8M | $144.2M | 990 PDF |
| FY2020Filed with the IRS Aug 18, 2021 | $66.9M | $48.8M | $18.1M | $123.0M | 990 PDF |
Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $81,768,477 revenue, 12 lines filed
Part VI · Governance 15 of 16 board members independent, no flags
Part VIII · Statement of revenue $81,768,477 across 7 lines filed
Part IX · Statement of functional expenses $60,965,605 across 20 lines filed
Part X · Balance sheet $571,089,169 assets, 19 lines filed
Part XI · Reconciliation of net assets $144,237,779 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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