Chicago-Based IFF Selected to Receive Community Development Financial Institution Award

$1 million investment will help IFF leverage at least 10 times as much in
additional funding and bring affordable capital to low-income neighborhoods
and nonprofits in the Midwest

CHICAGO, Aug. 28 /PRNewswire/ -- Today, the U.S. Treasury Department's
Community Development Financial Institution (CDFI) Fund announced that
Chicago-based IFF is a recipient of a $1 million award, which will support
IFF's Midwest expansion and allow it to provide more flexible, below-market
financing to nonprofits serving low-income areas in Missouri, Iowa, Indiana
and Wisconsin.

Formerly known as the Illinois Facilities Fund, IFF was founded in 1988
to help nonprofits in struggling neighborhoods gain access to real estate
loans in order to own and improve their facilities, build equity, and
strengthen the communities they serve. IFF's central innovation has been to
adapt traditional financing tools to meet the needs of nonprofits,
structuring loans that are as affordable as rent payments. Today, IFF loans
help finance the acquisition, construction and rehabilitation of community
facilities such as child care centers, health care clinics, charter schools
and housing services for low-income communities and special-needs
populations in its target markets. Since its inception, IFF has made more
than 600 loans totaling more than $200 million to about 350 nonprofit
organizations.

"IFF is delighted to receive this award," said Trinita Logue, IFF
President and CEO. "We're especially pleased because this isn't simply a
one-time grant. This is an equity investment in our loan fund, which our
experience has shown we can leverage into more than $10 million in total
community investment. That translates into more savings for nonprofits, and
more jobs, more child care, more classrooms, and increased opportunity in
the communities they serve."

The CDFI Fund invests in and builds the capacity of private, for-profit
and nonprofit financial institutions that serve low-income people and
communities lacking adequate access to affordable financial products and
services. The award recipients were selected after a competitive review
process of more than 200 applications from organizations across the nation.
For more information on the CDFI Fund or the award, visit
http://www.cdfifund.gov.

About IFF:

Founded in 1988, IFF is the Midwest's leading nonprofit Community
Development Financial Institution (CDFI). It has total assets of more than
$140 million and offers below-market loans, real estate consulting, and
research services to nonprofits serving low-income areas and special-needs
populations in Illinois, Indiana, Iowa, Missouri and Wisconsin. To learn
more about IFF, visit http://www.iff.org.



MEDIA CONTACTS: Jose Cerda III
312-596-5124
jcerda@iff.org

Liz Torrez
312-255-3036
liz.torrez@hillandknowlton.com