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Non-profit

Nonprofit Finance Fund (NFF)

Website:

www.nff.org/
Location:

New York, NY
Tax ID:

13-3238657
Tax-Exempt Status:

501(c)(3)

Budget (2021):

Revenue: $35,516,704
Expenses: $24,281,909
Assets: $319,614,124
Type:

Left-of-center Non-Profit
Formation:

1984
President:

Aisha Benson
Budget (2022):

Revenue: $16,875,768
Expenses: $24,793,637
Assets: $264,435,834
Recent Tax Filings:

2022 990 Form

2021 990 Form

2020 990 Form

Contact InfluenceWatch with suggested edits or tips for additional profiles.

Nonprofit Finance Fund (NFF) is a left-of-center nonprofit offering loans and consulting services to small and mid-sized groups working toward liberal social policy, mental health, education, workforce development, and other sectors. 1

It is funded by left-leaning grantmakers such as MacKenzie Scott, the Ford Foundation, the Colorado Health Foundation, the Andrew W. Mellon Foundation, the Rose Community Foundation, and the Harry and Jeanette Weinberg Foundation. 2

It was awarded over $400 million in New Markets Tax Credits (nmtc) from the U.S. Department of Treasury. NFF uses the tax credits to finance left-leaning groups using its nmtc Small Loan Fund. 3

It implements diversity, equity, and inclusion (DEI) in its hiring practices, policies, and internal operations. 4 It supports left-of-center groups such as Black Lives Matter (BLM), Vera Institute of Justice (VIJ), and the Anti Police-Terror Project. 5

Finances

Nonprofit Finance Fund reported total revenues of $16.9 million and total expenses of $24.8 million with $264.4 million in total assets in 2022. 6

It received $20 million from MacKenzie Scott 7 and the Ford Foundation for implementing diversity, equity, and inclusion (DEI) practices in 2020. 8

Other notable contributions include $5 million from Harry and Jeanette Weinberg Foundation in 2023, $5 million from Robert Wood Johnson Foundation (RWJF) in 2023, $1.9 million from Colorado Health Foundation in 2021, $1 million from Prudential Foundation in 2022, $930,000 from Andrew W. Mellon Foundation in 2021, and $250,000 from Rose Community Foundation in 2022. 9

It made grants worth $195,000 to BMe Networks in 2022, $122,030 to California State Los Angeles University Auxiliary Services (UAS) in 2022, and $87,400 to Community Partners in 2022. 10

Since 2007, NFF has received New Markets Tax Credits awards worth $401 million from the U.S. Department of the Treasury. NFF uses these funds to finance projects for small and mid-sized groups. 11

Background

Nonprofit Finance Fund was founded by Clara Miller in New York City in 1980. Initially named “Energy Conservation Fund (ECF),” it offered loans to nonprofits dealing with high energy costs. It became a 501(c)(3) in 1984 and renamed itself to NFF in 2000. 12

NFF offers financing and consulting services to left-leaning nonprofits working in education, human services, health, housing, civil rights, social policy, workforce development, and other sectors. In 2022, it consulted 280 nonprofits and financed 56 groups with $34 million. 13

It formed the Social Innovation and Equity Council (SIEC) in 2020, which evaluates and ensures racial equity in the group’s internal policies. 14

It has five main offices in New York City, Boston, Philadelphia, Oakland, and Los Angeles. 15

Advocacy

NFF became politically engaged after the 2016 presidential election, committing itself to “Equity in Action,” an effort to advance diversity and inclusion in its recruitment and contracting. 16

In 2022, NFF partnered with Capital Impact Partners (CIP) to form Catalyzing Finance for Racial Equity (CFRE). The group aims to persuade Community Development Financial Institutions (CDFIs) to include race-based equity practices. CFRE is funded by the W. K. Kellog Foundation. 17

NFF employees undergo a mandatory “Social Justice Onboarding.” 18 All staff members must learn left-wing ideas such as systemic oppression, white supremacy culture, racial wealth gap, and equitable data practices. In 2021, it launched “Plan 50%,” which aims to secure over half of all NFF investments to groups led by people of color. 19

NFF endorses and encourages support to a number of left-wing organizations involved in “the fight for justice and equity,” including Anti Police-Terror Project, Black Lives Matter (BLM), Color of Change, Dream Corps: #cut50, Ella Baker Center for Human Rights, Equal Justice Initiative (EJI), Equity and Transformation (E.A.T.), NAACP, National Institute for Criminal Justice Reform, National Police Accountability Project, New Jersey Institute for Social Justice, Showing Up for Racial Justice (SURJ), Texas Organizing Project (TOP), Vera Institute of Justice (VIJ), and W. Haywood Burns Institute for Justice, Fairness & Equity. 20

References

  1. “Annual Report 2022.” Nonprofit Finance Fund, May 2, 2023. https://nff.org/annual-report-2022.
  2. “Nonprofit Finance Fund Announces Leadership Changes.” PR Newswire: press release distribution, targeting, monitoring and marketing, June 8, 2021. https://www.prnewswire.com/news-releases/nonprofit-finance-fund-announces-leadership-changes-301308334.html.
  3. “New Markets Tax Credits.” Nonprofit Finance Fund, December 22, 2022. https://nff.org/new-markets-tax-credits.
  4. “Equity at NFF.” Nonprofit Finance Fund, December 13, 2023. https://nff.org/equity-nff.
  5. “Equity at NFF.” Nonprofit Finance Fund, December 13, 2023. https://nff.org/equity-nff#list.
  6. “Nonprofit Finance Fund, Full Filing – Nonprofit Explorer.” ProPublica, May 9, 2013. https://projects.propublica.org/nonprofits/organizations/133238657/202333059349303258/full.
  7. Scott, MacKenzie. “384 Ways to Help.” Medium, December 15, 2020. https://mackenzie-scott.medium.com/384-ways-to-help-45d0b9ac6ad8.
  8. Fund, Nonprofit Finance. “Nonprofit Finance Fund Announces Leadership Changes.” PR Newswire: press release distribution, targeting, monitoring and marketing, June 8, 2021. https://www.prnewswire.com/news-releases/nonprofit-finance-fund-announces-leadership-changes-301308334.html.
  9.  “Nonprofit Finance Fund.” Nonprofit Finance Fund | New York, NY | Cause IQ. https://www.causeiq.com/organizations/nonprofit-finance-fund,133238657/.
  10. “Nonprofit Finance Fund.” Nonprofit Finance Fund | New York, NY | Cause IQ. https://www.causeiq.com/organizations/nonprofit-finance-fund,133238657/.
  11. “New Markets Tax Credits.” Nonprofit Finance Fund, December 22, 2022. https://nff.org/new-markets-tax-credits.
  12. “History.” Nonprofit Finance Fund, March 6, 2023. https://nff.org/page/history#:~:text=NFF%20began%20life%20in%201980,through%20our%20first%20three%20decades .
  13.  “Annual Report 2022.” Nonprofit Finance Fund, May 2, 2023. https://nff.org/annual-report-2022.
  14. “How NFF’s Social Innovation and Equity Council Was Born.” Nonprofit Finance Fund, March 6, 2023. https://nff.org/blog/how-nffs-social-innovation-and-equity-council-was-born.
  15.  “Contact.” Nonprofit Finance Fund. https://nff.org/contact.
  16.  Fund, Nonprofit Finance. “Nonprofit Finance Fund Announces Leadership Changes.” PR Newswire: press release distribution, targeting, monitoring and marketing, June 8, 2021. https://www.prnewswire.com/news-releases/nonprofit-finance-fund-announces-leadership-changes-301308334.html.
  17. “Catalyzing Finance for Racial Equity.” RWJF. https://www.rwjf.org/en/insights/our-research/2023/12/catalyzing-finance-for-racial-equity.html.
  18.  “How We’re Aligning around Racial Equity.” Nonprofit Finance Fund, March 6, 2023. https://nff.org/blog/social-justice-onboarding-and-employee-resource-groups-how-were-aligning-around-racial-equity.
  19. “Plan 50%+.” Nonprofit Finance Fund, May 1, 2023. https://nff.org/plan-50-percent-plus.
  20. “Equity at NFF.” Nonprofit Finance Fund, December 13, 2023. https://nff.org/equity-nff#list .
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: April 1, 1985

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2021 Dec Form 990 $35,516,704 $24,281,909 $319,614,124 $229,955,991 N $20,939,288 $14,327,346 $17,085 $2,500,661
    2020 Dec Form 990 $54,019,339 $20,208,858 $311,084,073 $232,660,735 N $40,313,598 $13,641,057 $19,999 $1,911,658
    2019 Dec Form 990 $22,521,757 $23,742,765 $192,260,531 $147,647,674 N $9,858,573 $12,614,257 $19,967 $1,607,837 PDF
    2018 Dec Form 990 $23,284,073 $23,145,659 $156,563,693 $110,595,656 Y $9,460,209 $13,807,587 $13,636 $1,640,985 PDF
    2017 Dec Form 990 $17,450,717 $23,105,701 $129,381,838 $87,646,912 N $5,592,149 $11,849,748 $5,305 $1,587,877 PDF
    2016 Dec Form 990 $25,515,952 $17,782,030 $90,475,765 $43,085,855 N $17,080,404 $8,429,342 $4,210 $1,499,048 PDF
    2015 Dec Form 990 $13,109,108 $15,122,337 $79,169,493 $39,703,477 N $4,825,418 $8,267,486 $7,413 $1,298,407 PDF
    2014 Dec Form 990 $20,390,255 $35,228,069 $74,791,103 $33,311,858 N $12,771,624 $7,602,942 $8,444 $1,454,082 PDF
    2013 Dec Form 990 $35,130,846 $34,245,301 $100,357,372 $44,040,313 N $26,565,452 $8,557,751 $6,166 $1,318,324 PDF
    2012 Dec Form 990 $34,915,865 $31,794,015 $99,338,153 $43,906,639 N $26,711,927 $8,190,658 $9,584 $1,320,062 PDF
    2011 Dec Form 990 $40,184,885 $31,769,117 $104,372,597 $52,062,933 N $32,207,197 $7,949,514 $14,232 $1,272,374 PDF
    2010 Dec Form 990 $25,231,042 $23,718,087 $95,183,725 $51,289,829 N $18,135,734 $7,054,021 $21,190 $1,161,264 PDF

    Additional Filings (PDFs)

    Nonprofit Finance Fund (NFF)

    5 HANOVER SQUARE 9TH FL
    New York, NY 10004-0000