Overview
What is Rockford Community Investment Fund?
The Rockford Community Investment Fund, located at 120 W STATE ST STE 306, Rockford, IL 61101, is a nonprofit organization that focuses on supporting housing and community development ventures. Their primary mission involves providing access to capital for the rehabilitation of dilapidated homes, primarily in low and moderate income neighborhoods. As of June 30, 2023, they have 23 outstanding loans and have financed a total of 35 projects. The Rockford Community Investment Fund plays a significant role in revitalizing the community by funding projects that aim to improve housing conditions.
Is Rockford Community Investment Fund legitimate?
Rockford Community Investment Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Rockford 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.
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What is the mission statement of Rockford Community Investment Fund?
The Rockford Community Investment Fund, in its mission, aims to support housing and community development ventures. Specifically, it manages a loan fund that provides access to capital, facilitating the rehabilitation of dilapidated homes, primarily in low and moderate income neighborhoods. As of June 30, 2023, the fund has 23 loans outstanding and has financed a total of 35 projects. In essence, the Rockford Community Investment Fund plays a crucial role in revitalizing communities and improving housing conditions in underserved areas.
Who is the CEO of Rockford Community Investment Fund?
Jeff Fahrenwald is the Chair of Rockford Community Investment Fund.
What is the revenue of Rockford Community Investment Fund?
Rockford Community Investment Fund's revenue in 2023 was $197,414.
Who are the executives of Rockford Community Investment Fund and what are their salaries?
There 9 volunteers at Rockford Community Investment Fund.
Here are 10 key members and their salaries:
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Where can I find the form 990 for Rockford Community Investment Fund?
Rockford Community Investment Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of Rockford Community Investment Fund
The Rockford Community Investment Fund (RCIF) is dedicated to supporting housing and community development ventures. In line with its mission, RCIF manages a loan fund, providing access to capital for the rehabilitation of dilapidated homes, primarily in low and moderate income neighborhoods. As of June 30, 2023, RCIF has 23 outstanding loans and has financed a total of 35 projects, demonstrating its active involvement in the community development sector. The organization's efforts aim to improve the overall living conditions in these neighborhoods, contributing to a more vibrant and inclusive community.
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Impact
October, 2024
The Rockford Community Investment Fund plays a vital role in revitalizing neighborhoods by supporting housing and community development initiatives. By offering flexible financial products and advisory services tailored for low and moderate-income communities in Rockford, it facilitates access to financing that would otherwise be unavailable. This enables contractors to rehabilitate dilapidated housing, improving living conditions and enhancing the overall quality of the community.
Furthermore, these efforts contribute to job creation, fostering sustainable economic growth within the area. The fund's commitment to building sustainable communities not only transforms physical spaces but also strengthens the social fabric of Rockford, promoting stability and resilience among its residents. Through its targeted support, the Rockford Community Investment Fund effectively drives positive change and empowers the local population.
This information is meant to be a general summary of Rockford 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 2023.
- Investment Income: $1,443
- Program Service Revenue: $65,971
- Gross Receipts: $197,414
Assets and Liabilities:
- Total Assets: $1,949,188
- Total Liabilities: $2,000,000
- Net Assets: -$50,812
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME - NOTES REC
Revenue
$63,421
LOAN DOCUMENTATION INCOME
Revenue
$2,550
Organization Details
Founding Year
2022
Phone
(815) 987-8675Principal Officer
Jeff Fahrenwald
Main Address
120 W STATE ST STE 306, ROCKFORD, IL, 61101
NTEE Category
Code: S20 - Community improvement
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