Overview
What is National Community Investment Fund?
The National Community Investment Fund (NCIF) is a prominent nonprofit organization established in 1996, functioning as a Community Development Financial Institution (CDFI). Based in Chicago, Illinois, NCIF's mission is to amplify financial opportunities in underserved communities by providing responsible financial products and services. In 2021, they established NCIF NFP Inc, a supporting 501(C)(3) nonprofit, to raise funds, charitable contributions, and patient debt for initiatives benefiting low-income communities, fostering employment, and reducing the racial wealth gap. As of December 2022, NCIF had a total balance sheet asset of $58 million, with $162 million of New Markets Tax Credits (NMTC) allocations outstanding, managing a total of $220 million in assets. NCIF invests and lends capital to catalyze project development that delivers economic opportunities, enhancing the quality of life in underserved communities nationwide. They complement their activities with knowledge transfer and technical assistance to amplify impact, aiming for balanced social and financial returns for sustainable growth.
Official website here: www.ncif.org
Is National Community Investment Fund legitimate?
National Community Investment Fund is a legitimate nonprofit organization registered as a 501(c)(4) entity. National Community Investment Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $81,277
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.ncif.org
What is the mission statement of National Community Investment Fund?
The National Community Investment Fund, a nonprofit organization, is on a mission to increase access to responsible financial products and services in underserved communities. To achieve this, they invest and lend capital, catalyze the development of projects that provide economic opportunities, and improve the quality of life in these communities nationwide. In addition, they offer knowledge transfer and technical assistance to scale impact, aiming for balanced social and financial returns to ensure long-term sustainability. A supporting 501(C)(3) nonprofit entity, NCIF NFP Inc., was established in 2021 to aid in raising funding, charitable contributions, and patient debt to finance activities in underserved low-income communities.
Official website here: www.ncif.org
Who is the CEO of National Community Investment Fund?
Saurabh Narain is the Chair of National Community Investment Fund. The CEO's salary of National Community Investment Fund is $0 and their total compensation is $551,002.
Official website here: www.ncif.org
What is the revenue of National Community Investment Fund?
National Community Investment Fund's revenue in 2022 was $5,340,542.
Official website here: www.ncif.org
Who are the executives of National Community Investment Fund and what are their salaries?
Here are 11 key members and their salaries (National Community Investment Fund's CEO's salary is $0 and their total compensation is $551,002):
- Compensation: $25,000
- Related: $0
- Other: $0
- Compensation: $18,750
- Related: $0
- Other: $0
- Compensation: $11,250
- Related: $0
- Other: $0
- Compensation: $11,250
- Related: $0
- Other: $0
- Compensation: $18,750
- Related: $0
- Other: $0
- Compensation: $18,750
- Related: $0
- Other: $0
- Compensation: $0
- Related: $511,246
- Other: $39,756
- Compensation: $0
- Related: $150,205
- Other: $4,536
- Compensation: $0
- Related: $227,016
- Other: $7,751
- Compensation: $0
- Related: $142,233
- Other: $30,004
- Compensation: $0
- Related: $118,601
- Other: $11,152
Official website here: www.ncif.org
Where can I find the form 990 for National Community Investment Fund?
National Community Investment Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ncif.org
Learn more at the official website: www.ncif.org
Mission Statement of National Community Investment Fund
The National Community Investment Fund, abbreviated as NCIF, is a mission-driven nonprofit organization established in 1996. Acting as a Community Development Financial Institution (CDFI), its primary objective is to expand access to responsible financial products and services in underserved communities. In 2021, NCIF established NCIF NFP Inc, a supporting 501(c)(3) nonprofit, to bolster funding, charitable contributions, and patient debt, aimed at impacting underprivileged low-income communities, stimulating employment, and contributing to the reduction of the racial wealth gap.
As a CDFI, NCIF invests and lends capital that boosts access to financial services, fostering the development of projects offering economic opportunities, and ultimately enhancing the quality of life in underserved communities nationwide. NCIF's approach to investing and lending is complemented by knowledge transfer and technical assistance, aiming to amplify impact. The organization's ultimate goal is to generate balanced social and financial returns, ensuring long-term sustainability. By doing so, NCIF strives to contribute to the overall well-being of underserved communities, promoting economic growth and social equity.
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Impact
October, 2024
The National Community Investment Fund (NCIF) plays a vital role in enhancing access to financial products and services in underserved communities across the United States. By leveraging resources such as New Markets Tax Credits (NMTC), NCIF facilitates critical lending to projects located in economically distressed areas, enabling local development that fosters economic growth and opportunities.
Since its inception, NCIF has secured $376 million in NMTC allocations, closing 52 deals that have directed $354 million to impactful projects. These investments not only catalyze economic development but also aim to reduce the racial wealth gap, thereby addressing systemic inequalities in access to financial resources.
In addition to its lending activities, NCIF actively supports initiatives that create jobs and improve the overall quality of life in low-income communities. Through ongoing knowledge transfer and technical assistance, NCIF enhances the capabilities of local organizations and financial institutions, ensuring that the impacts of its investments are sustainable and widespread.
As of December 31, 2022, NCIF managed total assets of approximately $220 million, including $58 million in tangible assets. This financial robustness allows NCIF to continue its mission effectively, fostering growth and community improvement initiatives that are essential for the development of economically marginalized populations.
This information is meant to be a general summary of National Community Investment Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,135,277
- Program Service Revenue: $3,501,735
- Gross Receipts: $5,515,679
Assets and Liabilities:
- Total Assets: $57,754,218
- Total Liabilities: $27,217,893
- Net Assets: $30,536,325
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
NMTC FEE INCOME
Revenue
$1,831,168
INTEREST ON LOANS
Revenue
$1,191,758
INCOME FROM INVESTMENT
Revenue
$317,387
LOAN FEE INCOME
Revenue
$161,422
Organization Details
Founding Year
1995
Phone
(312) 662-6096Principal Officer
Saurabh Narain
Main Address
135 S LASALLE STREET 3025, CHICAGO, IL, 60603
Website
www.ncif.orgNTEE Category
Code: S11 - Community improvement
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