Asian Human Services
A $450,000 IFF loan allowed Asian Human Services (AHS) to acquire and renovate a facility to house its charter school, Passages Charter School.  The purchase was motivated by the 42% increase in Passages’ lease payments, and the strong likelihood of lease increases in future years.  With IFF’s loan, the agency locked-in total monthly debt payments that were three thousand dollars a month less than it would have paid for its increased monthly lease. Furthermore, facility ownership opened the door to property tax exemption, so the agency would no longer be absorbing the lease’s property tax expenses that were passed on through the landlord. In addition, AHS has experienced more than a 200% increase in its operating surpluses over the last four years since the loan was made.

CommunityHealth
In 1999, CommunityHealth – the largest free health clinic in Illinois – borrowed $500,000 from IFF to move from renting to owning their health clinic.  Following the move into an owned and expanded facility, CommunityHealth’s assets jumped more than $1.5 million from the year prior to the loan to the year after the loan, and its net assets more than doubled in the following years.  The cost savings of IFF’s below-market interest rate and lack of fees helped the agency keep expenses down and redirected them to patient care.  As the owner of its facility, CommunityHealth is also able to take advantage of new opportunities to use its space, such as the opportunity to build out a space for a dental suite.

Centro Communitario Juan Diego
Centro Communitario Juan Diego, a multi-service community-based nonprofit corporation, took advantage of IFF’s below market-rate loans to move into its first owned space.  Prior to the move, the agency’s programs and clients were constantly constricted by space limitations.  With an IFF loan, the agency was able to purchase a facility that improves its visibility – allowing it to serve more people and a more diverse client base; improves the quality of their space; and signals the agency’s commitment to the community.  As the agency grows, IFF has continued to lend capital so it can continue to improve their space and maintain financial health.  

Champaign Community Advocacy and Mentoring
Champaign Community Advocacy and Mentoring, a group home for adults with development disabilities, had been renting space when it decided to own a permanent home for the residents. The agency had a difficult time finding the capital to purchase a home, as they didn’t fit into traditional mortgages – until it was introduced to IFF. According to the executive director, Allen Kubbs, “Without the IFF loan, we probably wouldn’t not have bought a home.”  With IFF’s affordable capital, the agency was able to acquire a house and do minimal repairs.  With a permanent space, the agency can control costs, avoid rent increases, benefit from tax advantages, and increase their net assets and financial stability.