Organizations Filed Purposes:
THE PRIMARY MISSION OF IMPACT FINANCE IS TO PROMOTE COMMUNITY DEVELOPMENT BY PROVIDING ACTIVITIES DIRECTED TOWARDS IMPROVING THE SOCIAL OR ECONOMIC CONDITIONS OF UNDERSERVED PEOPLE OR RESIDENTS OF DISTRESSED COMMUNITIES.
IMPACT FINANCE, A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION FORMERLY KNOWN AS ROCHESTER COMMUNITY FINANCE (RCF), HELPS COMMUNITIES GROW BY PROVIDING DOWN PAYMENT ASSISTANCE LENDING SO LOW-AND MODERATE-INCOME FAMILIES CAN ATTAIN AFFORDABLE HOUSING. IT ALSO PROVIDES TECHNICAL ASSISTANCE TO NONPROFIT ORGANIZATIONS, HELPING THEM GROW ORGANIZATIONAL CAPACITY AND INCREASE THEIR ABILITY TO SERVE CLIENTS. BOTH GROWTH STRATEGIES, DOWN PAYMENT ASSISTANCE AND TECHNICAL ASSISTANCE TO NONPROFITS, SUPPORT COMMUNITIES AND HELP THEM BECOME SUSTAINABLE, THRIVING PLACES WHERE PEOPLE WANT TO BE. IMPACT FIANCE HELPS PEOPLE IN SEVEN LOCAL COUNTIES AFFORD HOME OWNERSHIP. IMPACT FINANCE HAS A SUCCESSFUL GAP LOAN PROGRAM THAT PROVIDES LOW-INTEREST GAP LOANS TO UNDERSERVED BUYERS THROUGH OUR LENDING PRODUCT AND IN PARTNERSHIP WITH LOCAL BANKS TO ENABLE QUALIFIED BUYERS TO ACHIEVE AFFORDABLE HOMEOWNERSHIP. INDIVIDUALS MAY BE ELIGIBLE FOR FUNDS TO PAY FOR CLOSING COSTS AND/OR DOWN PAYMENT ASSISTANCE TO HELP REDUCE MONTHLY MORTGAGE PAYMENTS. IMPACT FINANCE PROVIDES UP TO $10,000 FOR QUALIFIED BUYERS AT TWO OPTIONS:2% INTEREST GAP LOAN AMORTIZED OVER 10 YEARS.0% INTEREST DEFERRED GAP LOAN AMORTIZED OVER 30 YEARS WHEN PURCHASING A FIRST HOMES COMMUNITY LAND TRUST PROPERTY.
IMPACT FINANCE RECOGNIZES THAT NONPROFIT ORGANIZATIONS ARE STRETCHED TO THEIR LIMITS IN MANY CASES AND INCREASING THE GROWTH OF SOUTHEAST MINNESOTA WILL FURTHER STRAIN LIMITED RESOURCES. OUR APPROACH FOR NONPROFIT ORGANIZATIONS WILL BE TO COME ALONGSIDE WITH TECHNICAL SUPPORT THROUGH TRAINING, STRATEGIC PLANNING AND INTERNAL CAPACITY BUILDING TO FIRST ENHANCE THEIR ABILITY TO COPE WITH THE COMING GROWTH, THEN TO SUPPORT PHYSICAL GROWTH OF THE ORGANIZATION SHOULD THAT BE THE CORRECT DIRECTION FOR THEIR NEXT STEPS TOWARD SUSTAINABILITY AND SERVING THEIR CLIENTS.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Jennifer Woodford | EXECUTIVE DIRECTOR | 2 | $6,575 |
| Susan Strandberg | TREASURER | 2 | $0 |
| Mary Jo Majerus | VICE CHAIR | 2 | $0 |
| Jose Rivas | SECRETARY | 2 | $0 |
| Joseph Powers | CHAIR | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/201913189349303106_public.xml