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← LOW INCOME INVESTMENT FUND

Form 990 for tax year 2023

Filed by LOW INCOME INVESTMENT FUND.

Totals

Total revenue
$88,297,355
Total expenses
$81,808,063
Contributions and grants received
$41,606,677
Grants paid
$25,313,435
Program service revenue
$43,577,903
Investment income
$3,058,253
Other revenue
$54,522
Total assets, end of year
$775,773,301
Total liabilities, end of year
$603,844,995
Net assets or fund balances, end of year
$171,928,306
Program services expenses (Part IX)
$66,693,481
Management and general expenses
$11,871,307
Fundraising expenses
$3,243,275
Program service expenses (Part III)
$66,693,481

Program services were 81.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • REYMUNDO OCANAS

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JESSICA SAGER

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • RUSSELL BRUEMMER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DIONNE NELSON

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MARGARET ANADU

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TAWANNA BLACK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • EILEEN FITZGERALD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DAVID FLEMING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DONNA GAMBRELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CALVIN GLADNEY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • WILLIAM C KELLY JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GLORIA LEE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CAROL NAUGHTON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ERIKA POETHIG

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • YOHANA QUIROZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL SOLOMON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DANIEL NISSENBAUM

    DIRECTOR & CEO

    Total calculated
    $784,922
    From this org
    $717,709
    From related orgs
    $0
    Other
    $67,213
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $522,709
    Bonus
    $195,000
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $54,013
    Filer's total
    $784,922

  • KIMBERLY LATIMER-NELLIGAN

    PRESIDENT

    Total calculated
    $534,161
    From this org
    $491,905
    From related orgs
    $0
    Other
    $42,256
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $391,905
    Bonus
    $100,000
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $29,056
    Filer's total
    $534,161

  • MARIA ARELLANO BAGLIERI

    EVP & CHIEF STRATEGY OFFICER

    Total calculated
    $322,970
    From this org
    $286,573
    From related orgs
    $0
    Other
    $36,397
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $269,573
    Bonus
    $17,000
    Other
    $0
    Deferred
    $11,557
    Nontaxable benefits
    $24,840
    Filer's total
    $322,970

  • PANAGIOTA MAHENDRU

    CFO & EVP

    Total calculated
    $431,586
    From this org
    $386,412
    From related orgs
    $0
    Other
    $45,174
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $326,412
    Bonus
    $60,000
    Other
    $0
    Deferred
    $13,200
    Nontaxable benefits
    $31,974
    Filer's total
    $431,586

  • DENISE NOEL

    EVP & GENERAL COUNSEL

    Total calculated
    $342,109
    From this org
    $309,097
    From related orgs
    $0
    Other
    $33,012
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $266,097
    Bonus
    $43,000
    Other
    $0
    Deferred
    $12,421
    Nontaxable benefits
    $20,591
    Filer's total
    $342,109

  • TINA WALKER

    EVP & CHIEF PEOPLE OFFICER

    Total calculated
    $19,833
    From this org
    $19,833
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • RACHEL L BLUESTEIN

    SVP, CHIEF PROGRAM OFFICER

    Total calculated
    $362,777
    From this org
    $286,790
    From related orgs
    $0
    Other
    $75,987
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $240,886
    Bonus
    $45,904
    Other
    $0
    Deferred
    $11,774
    Nontaxable benefits
    $64,213
    Filer's total
    $362,777

  • SUSAN HYMAN

    SVP, CHIEF CREDIT OFFICER

    Total calculated
    $351,101
    From this org
    $307,918
    From related orgs
    $0
    Other
    $43,183
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,562
    Bonus
    $48,356
    Other
    $0
    Deferred
    $12,490
    Nontaxable benefits
    $30,693
    Filer's total
    $351,101

  • STEPHANIE MCFADDEN

    SVP, CHIEF LENDING OFFICER

    Total calculated
    $363,655
    From this org
    $289,747
    From related orgs
    $0
    Other
    $73,908
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,016
    Bonus
    $46,731
    Other
    $0
    Deferred
    $11,782
    Nontaxable benefits
    $62,126
    Filer's total
    $363,655

  • KIRSTEN SHAW

    VP, NORTHEAST & MID-ATLANTIC REGIONS

    Total calculated
    $291,130
    From this org
    $278,909
    From related orgs
    $0
    Other
    $12,221
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $234,136
    Bonus
    $44,773
    Other
    $0
    Deferred
    $11,156
    Nontaxable benefits
    $1,065
    Filer's total
    $291,130

  • CHRISTINA SHIWBALAK

    VP, OPERATIONS

    Total calculated
    $297,695
    From this org
    $272,160
    From related orgs
    $0
    Other
    $25,535
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,660
    Bonus
    $33,500
    Other
    $0
    Deferred
    $11,008
    Nontaxable benefits
    $14,527
    Filer's total
    $297,695

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
LIIF REIMBURSES EMPLOYEES FOR HEALTH CLUB MEMBERSHIPS UP TO A MONTHLY CAP AMOUNT OF $50. THIS BENEFIT IS INCLUDED IN EACH EMPLOYEE'S TAXABLE COMPENSATION.
PART I, LINE 7
A BONUS POOL IS ESTABLISHED FOR EACH FISCAL YEAR. EACH EMPLOYEE IS ELIGIBLE FOR A BONUS AT A FIXED PERCENTAGE. MANAGEMENT MAY PROVIDE ADDITIONAL BONUS COMPENSATION AT THE DISCRETION OF THE BOARD.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • LIIF TOAH MEMBER LLC

    RELATED INCOME · HOUSING DEVELOPMENT · DE · 99.99% owned · share of income $86,853

    Directly controlled by LIIF

  • GSAF LLC

    RELATED INCOME · LENDING · CA · 25% owned · share of income $458,634 · share of assets $13,128,472 · general or managing partner

    Directly controlled by LIIF

  • MATCH LLC

    RELATED INCOME · LENDING · CA · 33.33% owned · share of income -$4,555 · share of assets $1,588,352 · general or managing partner

    Directly controlled by LIIF

  • LIIF HOUSING PRESERVATION FUND II LLC

    RELATED INCOME · LENDING · DE · 53.33% owned · share of income $5,673 · general or managing partner

    Directly controlled by LIIF

  • PBC ACCELERATOR FUND LLC

    RELATED INCOME · LENDING · DE · 33.33% owned · share of income $7,835 · general or managing partner

    Directly controlled by LIIF

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Provenance

Return type
form_990
Tax year
2023
Filed
7 May 2025
IRS schema version
2023v6.0
Source object
202541289349302444

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