Emmet Pierson, Jr., has joined the national board of IFF, a pre-eminent financial and development services provider of under-capitalized nonprofits. Established in 1988, IFF is the largest Community Development Financial Institution (CDFI) in the Midwest having made more than $1.1 billion in loans between 1988 and 2020.
“IFF has been an innovator in finance and consulting to organizations and communities outside of the funding mainstream since its beginning,” said Pierson.
The IFF was created to provide loans that traditionally many banks won’t touch. In Kansas City, IFF has provided funding to projects such as the Emmanuel Family and Child Development Center, an accredited HeadStart and Pre-K Co-operative site, which opened a new facility in May 2020 at 4736 Prospect Avenue.
Headquartered in Chicago with six regional offices, including one in Kansas City, Missouri, IFF has more than 100 employees who provide comprehensive development services including capital solutions with a portfolio of lending products; real estate services including planning, site selection, design, groundbreaking and construction; development; and research and evaluation.
At the end of 2020 IFF had nearly $180 million in projects underway that all started with a quick screen that includes making sure the project will benefit a disadvantaged community.
“IFF is an advocate for underserved communities, as is CBKC,” said Pierson. “Taking on this role is an opportunity to share CBKC’s model and learn from IFF”s model. It’s an honor to be able to serve on this board alongside other leaders throughout the Midwest and nation that have the same mission.”
We are lenders, real estate consultants, real estate developers, community organizers, financial analysts, data analysts, construction managers, storytellers, researchers, and — most importantly — partners to nonprofits. – IFF
IFF was involved in the redefinition of the delivery system for capital in the United States when CDFI was a movement, not legislation. When the CDFI Act did come about, in 1994, creating a fund to promote economic revitalization and community development, it was built around some of IFF’s ideas.
Today, IFF is one of only five CDFIs in the nation to hold the top-ranked Aeris four-star rating for impact management and AAA rating for financial strength and performance.