2025-11-17T09:15:12+00:00 2024-12-31 331498605 Plante & Moran PLLC 10 SOUTH RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2024-01-01 367120987 NATIONAL COMMUNITY INVESTMENT FUND NATI 3126626096 25 E WASHINGTON ST 1405 CHICAGO IL 60602 SAURABH NARAIN PRESIDENT & CEO 2025-11-17 true DAVID LOWENTHAL CPA P00378651 3122071040 2025-11-14 2024 2025-03-06 01:10:19Z X SAURABH NARAIN 25 E WASHINGTON ST 1405 CHICAGO IL 60602 9730146 false X WWW.NCIF.ORG X 1995 IL National Community Investment Fund (NCIF) is a national nonprofit Community Development Financial Institution (CDFI) with a mission to increase access to responsible financial products and services in underserved communities. NCIF envisions a society where all communities have access to responsibly priced financial products and services and where investors take fully into account social and environmental impact as well as financial returns. Total assets under management at NCIF were $260 million at 12/31/24. NCIF operates through three complementary business lines-Equity Investments, Lending, and New Markets Tax Credits (NMTC)-alongside a fourth cross-cutting pillar: Impact Measurement and Analytics: 1. Equity Investing in mission-oriented Certied Development Financial Institutions (CDFI), Minority Depository Institutions (MDIs), and Mission-Oriented Financial Institutions (MOFIs) as agents of change across the US and its territories. These institutions 6 5 0 0 0 5619678 0 3985996 5729895 628312 2472438 0 10233986 8202333 25000 0 0 76250 65000 0 218675 4258381 6793937 4359631 6858937 5874355 1343396 61723118 79246172 26605859 42795797 35117259 36450375 NCIF invests capital and lends with institutions, that increase access to responsible financial products and services, catalyze projects that provide economic opportunities, and improve the quality of life in underserved communities nationally. NCIF complements its investing and lending activities with knowledge transfer and technical assistance to scale impact. false false 4728288 4320582 New Markets Tax Credits and Lending: since 2003, NCIF has been awarded $431 million in NMTC allocations from The CDFI Fund. The NMTC program was created by the CDFI fund to catalyze economic development investment into economically distressed communities. With the NMTC allocations, NCIF facilitates lending to qualified projects and enables our network bank partners to book high quality loans. As of December 31, 2024, NCIF has closed 58 deals utilizing $391.5 million of its NMTC allocations. The NMTC allocations along with NCIF's below-market loans enable non-profits and businesses to invest in projects that might not get traditional financing. Since 2019, NCIF and NCIF Credit Strategies Fund (CSF) has raised $48 million in loan capital and deployed $36.1 million as loans. 820184 3025397 Equity Investing: as of 12/31/2024, NCIF and CSF's portfolio consists of equity investments of $13.2 million in 19 Mission-Oriented Financial Institutions throughout the U.S. NCIF and CSF receive revenue in the form of dividends, capital gains, and interest. 86689 856354 NCIF focuses on complementing its financial products and services with developmental program services to help support and build the CDFI sector. NCIF provides transaction and financial advisory support to its current and potential borrowers as well as businesses to promote economic and community development. These services aim to maximize the impact of NMTC-funded projects and ensure they create lasting, meaningful benefits for the target communities. NCIF believes impact is driven by data and research. It pioneered its Social Performance Metrics in 2006 and is currently building an AI Based Data Analytics Platform (NCIF.AI) to increase efficiency and expand reach of impact investors nationally. It is our belief that LLM and machine learning will democratize data analytics and enable investors, businesses, communities, and banks to make informed decisions and strengthen local communities. 5635161 false false false false false false false false false false false false true false true true false true false false false false false false false false false false false true false false false false false false false false false false false false false false true true true true false false true X 17 0 true 0 false false false false false false false false X 6 5 false true false false false false false true true false false false true true true true true true true true false false IL X WENEIS CHAN SVP FINANCE AND CONTROL 3126626099 25 E WASHINGTON ST SUITE 1405 CHICAGO IL 60602 Saurabh Narain President & CEO 40.0 0.0 X X 0 433463 43726 Victor Elmore Chair 2.5 0.0 X X 20000 0 0 Brenda Ross-Dulan Trustee 2.0 0.0 X 15000 0 0 George Surgeon Trustee 2.0 0.0 X 15000 0 0 Robert Schall Trustee 2.0 0.0 X 15000 0 0 Tim Schwertfeger Trustee 2.0 0.0 X 0 0 0 Weneis Chan VP & CONTROLLER 40.0 0.0 X 0 239651 9605 Kyle Harvey VP, LENDING & NMTC- TERM 40.0 0.0 X 0 186920 7485 Ryan Juhas ASSISTANT Controller 40.0 0.0 X 0 153263 13486 Solanke Shonukan DIRECTOR, PORTFOLIO MGMT & COMPLIANCE 40.0 0.0 X 0 174162 34702 65000 1187459 109004 5 false true false NCIF MANAGEMENT INC 25 E WASHINGTON SUITE 1405 CHICAGO IL 60602 MANAGEMENT SERVICES 3308515 NOVOGRADAC & COMPANY LLP 246 FIRST STREET SAN FRANCISCO CA 94105 AUDIT & TAX 287875 MAYER BROWN LLP 71 S WACKER DRIVE CHICAGO IL 60606 LEGAL SERVICES 265239 PLANTE MORAN PLLC 3000 TOWN CENTER SUITE 400 SOUTHFIELD MI 48075 AUDIT & TAX 119512 BALA CONSULTING LLC 142 W 57TH ST NEW YORK NY 10019 DATA ANALYTICS CONSULTING 105000 5 0 INTEREST INCOME 522291 2911273 2911273 NMTC FEE INCOME 525990 2126176 2126176 INCOME FROM INVESTMENT 523000 552960 552960 LOAN FEE INCOME 522291 139486 139486 0 0 0 0 5729895 0 0 4000251 1527813 2472438 0 2472438 2472438 0 0 0 0 0 8202333 8202333 0 0 65000 65000 3308515 2481387 760958 66170 404949 193355 62132 149462 93991 47850 46141 206759 170890 35869 0 65348 49011 15030 1307 4918 3689 1131 98 1126046 1126046 52913 39685 12170 1058 BAD DEBT EXPENSE 1501498 1501498 DUES AND FEES 29000 21750 6670 580 0 0 0 0 6858937 5635161 1005101 218675 13064211 7957727 5729461 23463141 133746 199372 0 0 0 0 28043533 34420464 29798 22490 0 0 0 0 0 14722369 13182978 0 0 61723118 79246172 378278 264556 0 0 25933199 42140247 294382 390994 26605859 42795797 X 34667259 36000375 450000 450000 35117259 36450375 61723118 79246172 1343396 -10280 0 X false true true false EQUITY INVESTMENTS IN CDFIS 5418052 F EQUITY INVESTMENTS IN CDFIS 7760950 C INVESTMENT IN NCIF CAPITAL, LLC 24445 C INVESTMENT IN NCIF NFP INC -20469 C 13182978 Federal Income Taxes DUE TO RELATED PARTIES 336370 OTHER LIABILITIES 54624 390994 X 0 0 0 0 0 0 0 0 0 0 0 0 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote NATIONAL COMMUNITY INVESTMENT FUND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAX PURSUANT TO SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE. NCIF CREDIT STRATEGIES FUND LLC IS A SINGLE MEMBER LIMITED LIABILITY COMPANY DISREGARDED AS AN ENTITY SEPARATE FROM NATIONAL COMMUNITY INVESTMENT FUND FOR FEDERAL TAX PURPOSES. MANAGEMENT HAS DETERMINED THAT NCIF WAS NOT REQUIRED TO RECORD A LIABILITY RELATED TO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2024 AND 2023. false false false false false false false true false Saurabh Narain President & CEO 0 252840 0 180623 0 0 0 13800 0 29926 0 477189 0 0 Weneis Chan VP & CONTROLLER 0 169470 0 68981 0 1200 0 9605 0 0 0 249256 0 0 Kyle Harvey VP, LENDING & NMTC- TERM 0 164800 0 20920 0 1200 0 7485 0 0 0 194405 0 0 Solanke Shonukan DIRECTOR, PORTFOLIO MGMT & COMPLIANCE 0 124614 0 48348 0 1200 0 7286 0 27416 0 208864 0 0 Ryan Juhas ASSISTANT Controller 0 111319 0 40744 0 1200 0 6348 0 7138 0 166749 0 0 Schedule J, Part I, Line 7 Non-fixed payments AS INDICATED IN SCHEDULE J, PART II, OFFICERS, KEY EMPLOYEES AND OTHER EMPLOYEES OF THE ORGANIZATION RECEIVED A BONUS BASED ON PERFORMANCE AND THE FINANCIAL RESULTS OF THE ORGANIZATION. THIS BONUS WAS APPROVED BY THE TRUSTEES OF NCIF. Schedule J, Part I, Line 3 METHODS USED TO ESTABLISH COMPENSATION OF CEO/EXECUTIVE DIRECTOR Compensation of the President/CEO is paid by related organization, NCIF Management, Inc. However, the compensation paid to the President/CEO is determined by the trustees of NCIF using market information. Form 990, Part I, Line 1 Continuation act as anchors in local communities. NCIF is the largest investor in the CDFI banking industry, with investments in about 10% of all certied CDFI Banks. 2. New Markets Tax Credits: Since 2003, NCIF has received $431 million in NMTC allocations to deploy into projects in real estate, operating companies, health care facilities, schools, other impact-oriented organizations and businesses in partnership with local CDFI institutions; and 3. Lending: NCIF makes loans in partnership with CDFIs, MDIs, and MOFIs to enhance the impact of projects that benet underserved communities in both urban and rural areas. 4. Impact measurement is the foundation of NCIF's work and supports all our business lines. NCIF pioneered the use of Social Performance Metrics (www.bankimpact.org) and is developing an artificial intelligence-based core data platform to support data analytics, strategically allocate more dollars to underserved communities, and catalyze the impact investing sector. Form 990, Part V, Line 2a NCIF has delegated the services of NCIF and CSF to NCIF Management, Inc, a wholly owned subsidiary of NCIF. NCIF Management partners with a professional employer organization (PEO) to manage payroll and compliance. Form 990, Part VI, Line 3 Delegation of management duties NCIF and CSF signed a service agreement with NCIF Management, Inc. for the purpose of providing administrative and management services to NCIF and CSF. NCIF Management, Inc. is a wholly owned subsidiary of NCIF. As such, the trustees of NCIF are also the trustees of NCIF Management, Inc. and have full responsibility of managing NCIF Management Inc. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED IN DETAIL BY AT LEAST TWO MEMBERS OF THE NCIF MANAGEMENT TEAM. A COMPLETE COPY OF THE FORM 990 IS PROVIDED TO THE FINANCE & AUDIT COMMITTEE AS WELL AS ALL TRUSTEES PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE TRUSTEES AND OFFICERS OF NCIF AND NCIF MANAGEMENT, INC. COMPLETE ANNUAL QUESTIONNAIRES DISCLOSING ANY CONFLICT OF INTEREST. THE DETERMINATION OF WHETHER A CONFLICT EXISTS IS ON A SELF-MONITORED BASIS BY EACH INDIVIDUAL. THE BOARD HAS ADOPTED A FORMAL POLICY FOR REVIEWING AND AFFIRMING ACTIONS WHEN THERE IS A CONFLICT OF INTEREST. WHERE A CONFLICT EXISTS, THAT INDIVIDUAL WOULD BE EXCLUDED FROM PARTICIPATION IN VOTING AND DECISION MAKING. ON AN ONGOING BASIS, THESE INDIVIDUALS WOULD INFORM THE BOARD AND THE GOVERNANCE COMMITTEE OF POTENTIAL CONFLICTS AND RECUSE THEMSELVES FROM SUCH BUSINESS MATTERS. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE CHAIR OF THE TRUSTEES DETERMINES COMPENSATION FOR THE PRESIDENT AND CEO, BASED ON MARKET INFORMATION. COMPENSATION IS SUBSEQUENTLY APPROVED BY THE FULL BOARD OF TRUSTEES. FURTHERMORE, THE PRESIDENT AND CEO DETERMINES COMPENSATION FOR ALL STAFF INCLUDING KEY EMPLOYEES. THE DETERMINATION FOR COMPENSATION IS BASED ON ANNUAL PERFORMANCE, JOB REQUIREMENTS, AND CURRENT DATA ON THE EMPLOYMENT MARKET. Form 990, Part VI, Line 19 Required documents available to the public THE FINANCIAL STATEMENTS ARE PUBLICLY DISCLOSED ON THE ORGANIZATION'S WEBSITE. THE GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. 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