National Community Investment Fund

Nonprofit profile at a glance

EIN
367120987
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3126626096
Rating
81
Verdict
STRONG
Rating confidence
Standard
Sector
Single Organization Support

Official website

Reported finances

Revenue
$8,202,333
Expenses
$6,858,937
Assets
$79,246,172
Liabilities
$42,795,797

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • Saurabh Narain (President & CEO)

Highest reported compensation

  • Saurabh Narain (President & CEO): $477,189 total reported compensation
  • Weneis Chan (VP & CONTROLLER): $249,256 total reported compensation
  • Solanke Shonukan (DIRECTOR, PORTFOLIO MGMT & COMPLIANCE): $208,864 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 72
  • Accountability: 90
  • Sustainability: 72
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 98.3%; rating input score 98
  • Program expense ratio: 82.2%; rating input score 82
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 0; 0th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.4%; rating input score 73; 73rd percentile among comparable filings
  • Total-asset coverage ratio: 11.55; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 2.5%; rating input score 72; 72nd percentile among comparable filings

Growth

  • Program expense growth: 12.6% per year; rating input score 100; 72nd percentile among comparable filings
  • Revenue growth: 9.3% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 10.4% per year; rating input score 100; 60th percentile among comparable filings

Details

  • Where the money goes: 98.3% of revenue deployed · 82.2% of spending went to programs
  • Governance: 5 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $5.6M in reported program spending
  • Leadership: top reported pay $477K · 10 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.1M reported
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes executive pay and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 5 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Fundraising efficiency scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.