SOURCE: IFF

IFF

June 14, 2016 09:30 ET

Midwest Nonprofit IFF Reaches $100 Million Milestone in Wisconsin

Community Members, Customers to Celebrate IFF's Impact in Communities

MILWAUKEE, WI--(Marketwired - June 14, 2016) - Midwest nonprofit IFF surpassed providing $100 million in loans and new markets tax credits to Wisconsin nonprofits and affordable housing developers since bringing its financial and real estate services to the state in 2006. In honor of this milestone, IFF will hold a celebration Tuesday, June 21, from 4:30 to 7 p.m. at St. Ann Center for Intergenerational Care's Bucryus Campus in Milwaukee at 2450 W. North Ave.

"We made our first loan to Seeds of Health and have financed nearly $9 million in capital projects for the school over the years -- a testament to the longstanding relationships we form in the community," IFF CEO Joe Neri said. "While reaching a $100 million milestone in Wisconsin, we remain committed to making a difference in neighborhoods in Milwaukee and across the state."

In Wisconsin, IFF has made nearly 130 loans to organizations including CORE/El Centro in Milwaukee; Globe Apartments in Watertown; Jewish Family Services in Brown Deer; and Partnership Community Health Center in Appleton. With lending and real estate staff in its Milwaukee office, IFF continues to enhance the expertise and resources for nonprofits in such sectors as affordable housing; arts and culture; child care; and public charter schools and private schools in the Milwaukee Parental Choice Program.

IFF recently financed the following projects in Milwaukee:

  • Gerald L. Ignace Indian Health Center -- $3.4 million loan to acquire and renovate a new home for the health center
  • Guest House of Milwaukee -- $1.5 million in loans to expand its shelter for homeless men
  • Next Door -- $1 million in loans to acquire and renovate an additional early education center and refinance existing debt
  • Sojourner Family Peace Center -- $10 million in NMTCs to build a domestic violence shelter with multiple services under one roof
  • St. Ann Center for Intergenerational Care -- $10 million in NMTCs and a $1.5 million loan to build a second facility on Milwaukee's south side

"Through consistent leadership, IFF has developed a solid track record of providing opportunities that help neighborhoods flourish and grow," said Wyman Winston, executive director of the Wisconsin Housing and Economic Development Authority. "I congratulate IFF, a valued WHEDA partner, for its incredible achievements and quality work in the state of Wisconsin."

About IFF
IFF is a mission-driven lender, real estate consultant and developer that helps communities thrive by creating opportunities for low-income populations and individuals with disabilities. From child care to senior housing, IFF works closely with clients from every sector, offering affordable, flexible financing; full-scale real estate consulting; and community development services. Since 1988, we have made over $620 million in loans, leveraged $1.7 billion in community investments and grown our total managed assets to $498 million.

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