Click here to close now.

SYS-CON MEDIA Authors: Liz McMillan, Pat Romanski, William Schmarzo, Elizabeth White, Carmen Gonzalez

News Feed Item

St. Louis Nonprofits Improving Low-Income Communities with Help From CDFI Leader IFF

Disabled Adults, Abused Women Among Beneficiaries

ST. LOUIS, Dec. 19, 2012 /PRNewswire-USNewswire/ --  St. Louis nonprofits serving some of the city's most needy communities are realizing significant benefits resulting from affordable financing from nonprofit community development financial institution (CDFI) leader IFF.  Assistance League St. Louis is expanding programs, serving more low-income students and battered women; and Project, Inc. has been able to protect the employment of disabled adults, who might otherwise be unemployed, while saving taxpayers money.

(Logo: http://photos.prnewswire.com/prnh/20120612/DC22729LOGO)

IFF, which began its St. Louis operations in 2007 and was certified by the U.S. Treasury as a CDFI in 1996, uses some government grants and tax credits to leverage substantially greater private resources to provide facilities loans and related services at below-market rates to organizations serving low-income communities.  These organizations are addressing such essential community needs as education, healthcare, housing, child care and access to healthy food.  Here are two of IFF's most significant St. Louis accomplishments to date:   

IFF loan to Assistance League St. Louis Allows for Expanded Services for Low Income Families

Assistance League St. Louis is celebrating its 25th anniversary as a fixture in the community supporting low-income families through innovative programs.  An IFF loan of $750,000 allowed Assistance League St. Louis to purchase their own expanded facility and attract new volunteers. More fundamental to Assistance League's mission, the loan helped increase by 30 percent the number of low-income students it serves through Operation School Bell™– an innovative program that provides uniforms and other clothes.  

Additionally, lower debt payments freed precious resources to reach more people in the community through such other unique programs as Project ROSE (Raise Our Self Esteem), which provides abused women with essentials upon their arrival at a shelter and Steps to Success, which equips needy children with athletic shoes. 

All these programs provide tangible benefits for those most in need, but perhaps just as importantly, they boost the self confidence of children, who now have a new pair of shoes for school, or women, who can feel closer to normal with needed personal items and clothing after fleeing domestic abuse.

Sandra Johnson, President of Assistance League St. Louis said of IFF's help, "We now have more money to spend on programs and not on rent.  That has allowed us to serve more children, add 57 new volunteers and for the first time, we are forming a program expansion committee to address new needs in the community."

IFF Loan to Project, Inc. allows DeCycleIt! Program to Employ Disabled Adults and Reduce Dependence on the State

Project, Inc.'s idea to employ disabled adults for secure document destruction (SDD) through its DeCycleIt! program is recognized by IFF for its enterprising business model and commitment to a vulnerable population.

DeCycleIt!, a member of the National Secure Document Alliance (SDA), is the only nonprofit SDD in the St. Louis area among 38 competitors. Its mission to employ developmentally disabled adults – a highly unemployed segment of the population—has a twofold effect on the community: it increases the self respect and quality of life of the individuals involved while reducing the strain on the city and state's social services.  For every ten employees, Project Inc. hires, it saves Missouri taxpayers $225,000 a year.  The economic multiplier effect of the 123 disabled individuals currently employed by Project Inc. and its DeCycleIt! program is thus substantial. 

An IFF low-interest rate loan of $200,000 to Project Inc. allowed it to expand its business operations to include secure document destruction through the DeCycleIt! program and protect the employment of eight disabled individuals who were vulnerable to cutbacks in the down market.  "Other commercial banks didn't see it as attractive because other banks don't understand nonprofits.  IFF understood and had a great eye for this stuff," said Matt Burridge. He praised IFF's dedication to identifying and supporting organizations such as Project Inc. and its DeCycleIt! program – which, through their help of individuals, engenders broader societal benefits.

These loans are part of $66-million IFF has invested directly in 68 Missouri nonprofits through over 108 loans since 2006.

IFF Stands for Comprehensive Community Development

One of America's leading nonprofit community development financial institutions (CDFIs), IFF strengthens nonprofits and their communities through lending and real estate consulting that helps these organizations plan, finance, and build facilities that are critical to their success.  

Founded in 1988, IFF has total assets of more than $235 million and serves nonprofits working with low-income communities and special needs populations in Illinois, Indiana, Iowa, Missouri and Wisconsin.

Midwest-wide, IFF's lending has leveraged over $1 billion dollars to invest in child care and primary health care centers, supportive housing, charter schools, shelters and affordable housing—helping to provide child care for over 4,617 children, a quality school facility for 26,422 students, 3,262 units of affordable housing, 174,884 health care visits and 48,114 jobs.

IFF's strong financial performance and wide-reaching community impact has earned it the highest rating from the CDFI Assessment and Rating System (CARS). This makes IFF one of only four CDFIs nationwide – and the only one in the Midwest – to earn CARS' highest rating of "1" for Financial Strength and Performance; "AAA" for Impact Performance; and a "Policy Plus" for leadership in policy changes supporting disadvantaged people and communities. To learn more about IFF, visit www.iff.org.

CONTACT:
Marc Brailov: 312-596-5124
Kate Maher: 312-521-7385

SOURCE IFF

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
It's time to face reality: "Americans are from Mars, Europeans are from Venus," and in today's increasingly connected world, understanding "inter-planetary" alignments and deviations is mission-critical for cloud. In her session at 15th Cloud Expo, Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems, discussed cultural expectations of privacy based on new research across these elements
In today's application economy, enterprise organizations realize that it's their applications that are the heart and soul of their business. If their application users have a bad experience, their revenue and reputation are at stake. In his session at 15th Cloud Expo, Anand Akela, Senior Director of Product Marketing for Application Performance Management at CA Technologies, discussed how a user-centric Application Performance Management solution can help inspire your users with every applicati...
As enterprises engage with Big Data technologies to develop applications needed to meet operational demands, new computation fabrics are continually being introduced. To leverage these new innovations, organizations are sacrificing market opportunities to gain expertise in learning new systems. In his session at Big Data Expo, Supreet Oberoi, Vice President of Field Engineering at Concurrent, Inc., discussed how to leverage existing infrastructure and investments and future-proof them against e...
The consumption economy is here and so are cloud applications and solutions that offer more than subscription and flat fee models and at the same time are available on a pure consumption model, which not only reduces IT spend but also lowers infrastructure costs, and offers ease of use and availability. In their session at 15th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed this shifting dynamic with an ...
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackI...
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT transformation?
You use an agile process; your goal is to make your organization more agile. But what about your data infrastructure? The truth is, today's databases are anything but agile - they are effectively static repositories that are cumbersome to work with, difficult to change, and cannot keep pace with application demands. Performance suffers as a result, and it takes far longer than it should to deliver new features and capabilities needed to make your organization competitive. As your application an...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises a...
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
SYS-CON Events announced today that SUSE, a pioneer in open source software, will exhibit at SYS-CON's DevOps Summit 2015 New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SUSE provides reliable, interoperable Linux, cloud infrastructure and storage solutions that give enterprises greater control and flexibility. More than 20 years of engineering excellence, exceptional service and an unrivaled partner ecosystem power the products and support that help ...
Move from reactive to proactive cloud management in a heterogeneous cloud infrastructure. In his session at 16th Cloud Expo, Manoj Khabe, Innovative Solution-Focused Transformation Leader at Vicom Computer Services, Inc., will show how to replace a help desk-centric approach with an ITIL-based service model and service-centric CMDB that’s tightly integrated with an event and incident management platform. Learn how to expand the scope of operations management to service management. He will al...
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impac...
There's no doubt that the Internet of Things is driving the next wave of innovation. Google has spent billions over the past few months vacuuming up companies that specialize in smart appliances and machine learning. Already, Philips light bulbs, Audi automobiles, and Samsung washers and dryers can communicate with and be controlled from mobile devices. To take advantage of the opportunities the Internet of Things brings to your business, you'll want to start preparing now.
In a world of ever-accelerating business cycles and fast-changing client expectations, the cloud increasingly serves as a growth engine and a path to new business models. Dynamic clouds enable businesses to continuously reinvent themselves, adapting their business processes, their service and software delivery and their operations to achieve speed-to-market and quick response to customer feedback. As the cloud evolves, the industry has multiple competing cloud technologies, offering on-premises ...
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...