Forward Community Investments Inc.
Forward Community Investments Inc.
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About this organization
Mission
Since 1994, Forward Community Investments (FCI) has supported mission-based, Wisconsin-headquartered organizations by providing loan capital, financial expertise, and organizational capacity building for affordable housing, community services, and economic development initiatives. During that time period, FCI lent close to $83 million to 357+ mission-driven organizations, making a difference in the lives of more than 692,000 people. FCI's loans have seeded and leveraged additional private and government funding at a rate of 3.5:1 for community projects across Wisconsin, generating more than 2,530 units of affordable housing, and creating or retaining close to 6,280 jobs.
About
Community lending services - By 2019 year-end, FCI closed almost $6.8 million in new loans to organizations across Wisconsin. In addition, FCI closed $15.8 million in new market tax credits transactions, including Cristo Rey Jesuit High School, Notre Dame Schools, and Eagleknit Innovation Hub (all in Milwaukee) along with the second part of a $5 million loan pool for small dollar amount urban and rural mission-based projects. NMTC are used for revitalizing low-income communities and increasing economic opportunities for marginalized populations.
Interesting data from their 2020 990 filing
The non-profit's mission, as documented in the filing, is “In our capacity as a community development financial institution (cdfi), forward community investments (fci) builds stronger and healthier communities by providing loans, advising, and grants to mission-based organizations that address the root causes of racial and socioeconomic disparities and support initiatives that improve equity and make positive change possible. our vision is an equitable and inclusive wisconsin built on cooperative social action. our mission is to act as an investor, connector, and advisor for organizations and initiatives that reduce social, racial, and economic disparities throughout wisconsin. our values racial justice, equity, diversity, love, authenticity, integrity, partnership, and accountability provide the framework for how we do business.”.
When explaining its purpose, the activities were described as: “Since 1994, forward community investments (fci) has supported mission-based, wisconsin-headquartered organizations by providing loan capital, financial expertise, and organizational capacity building for affordable housing, community services, and economic development initiatives. during that time period, fci lent close to $83 million to 357+ mission-driven organizations, making a difference in the lives of more than 692,000 people. fci's loans have seeded and leveraged additional private and government funding at a rate of 3.5:1 for community projects across wisconsin, generating more than 2,530 units of affordable housing, and creating or retaining close to 6,280 jobs.”.
- The non-profit is legally allowed to operate in the state of WI, as reported.
- The filing provides the non-profit's address in 2020 as 2045 ATWOOD AVE NO 101A, MADISON, WI, 537046605.
- The non-profit has a total of 0 employees, as reported on their form for 2020.
- Is not a private foundation.
- Expenses are greater than $1,000,000.
- Revenue is greater than $1,000,000.
- Revenue less expenses is $701,571.
- The organization has 7 independent voting members.
- The organization was formed in 1994.
- The organization pays $991,307 in salary, compensation, and benefits to its employees.
- The organization pays $190,770 in fundraising expenses.
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