Rockford Community Investment Fund

Nonprofit profile at a glance

EIN
874616912
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2021
Location
Rockford, IL, USA
Phone
8159878675
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Community, Neighborhood Development

Reported finances

Revenue
$480,571
Expenses
$471,273
Assets
$5,056,016
Liabilities
$5,048,134

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

Leadership & pay

10 people listed

Highest reported compensation

  • THOMAS SANDQUIST (EXECUTIVE DI): $113,909 total reported compensation

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

Overview

Mission

To support housing and community development ventures

What it reported doing in 2024

Rcif manages a loan fund which provides access to capital to finance the rehabilitation of dilapidated homes, primarily in low and moderate income neighborhoods. As of 9/30/2025, rcif has 52 loans outstanding and had financed a total of 153 projects.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 90
  • Accountability: 78
  • Sustainability: 48
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.1%; rating input score 77
  • Program expense ratio: 78.6%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 88.9%; rating input score 89; 24th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.9%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 10.73; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 115.3% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 68.9% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 59.7% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 77.1% of revenue deployed · 78.6% of spending went to programs
  • Governance: 8 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $371K in reported program spending
  • Leadership: top reported pay $114K · 10 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 2 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.