Civic Intelligence

Rockford Community Investment Fund

EIN 87-4616912 • 501(c)3 • Rockford, IL

Profile

To support housing and community development ventures

120 W State St Ste 306Rockford, IL 61101

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

93rd percentile

1.00x

Higher debt load relative to assets than 93% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Liabilities / Revenue

97th percentile

10.50x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Net Margin

44th percentile

1.9%

Higher net margin than 44% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Top Officer Pay

43rd percentile

$113,909

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 23.7% of source-year revenue.

501(c)3 • $5M-$10M nonprofits • Source year 2025

Asset Growth

93rd percentile

61%

Faster asset growth than 93% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2025

Revenue Growth

85th percentile

56%

Faster revenue growth than 85% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2025

Assets

Up

$5,056,016

Up $3,106,828 (+159%) from 2023

Liabilities

Up

$5,048,134

Up $3,048,134 (+152%) from 2023

Net Assets

Up

$7,882

Up $58,694 (+116%) from 2023

Revenue

Up

$480,571

Up $283,157 (+143%) from 2023

Expenses

Up

$471,273

Up $303,867 (+182%) from 2023

Net Income

Down

$9,298

Down $20,710 (-69%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0M$4.0M$2.0M$0-$2.0MAssets 2022: $400,374Liabilities 2022: $481,194Net Assets 2022: -$80,8202022Assets 2023: $1,949,188Liabilities 2023: $2,000,000Net Assets 2023: -$50,8122023Assets 2025: $5,056,016Liabilities 2025: $5,048,134Net Assets 2025: $7,8822025

Highlighted filing

2025

Assets$5,056,016
Liabilities$5,048,134
Net Assets$7,882

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2022: $10,131Expenses 2022: $90,951Net Income 2022: -$80,8202022Revenue 2023: $197,414Expenses 2023: $167,406Net Income 2023: $30,0082023Revenue 2025: $480,571Expenses 2025: $471,273Net Income 2025: $9,2982025

Highlighted filing

2025

Revenue$480,571
Expenses$471,273
Net Income$9,298

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2024 to Sep 30, 2025
Signed
Feb 7, 2026
Return Version
2024v5.0
Gross Receipts
$480,571
Mission and Program Overview

Mission

To support housing and community development ventures

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,020,161$4,953,412▲ $1,933,251
Accounts Receivable$35,504$69,172▲ $33,668
Cash and Non-Interest-Bearing Accounts$141,612$27,150▼ $114,462
Prepaid Expenses and Deferred Charges$4,275$3,982▼ $293
Total Assets$3,201,552$5,056,016▲ $1,854,464
Other Assets Total-$2,300-
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,895,000$4,729,500▲ $1,834,500
Other Liabilities$300,000$300,000→ $0
Accounts Payable and Accrued Expenses$7,967$18,634▲ $10,667
Total Liabilities$3,202,967$5,048,134▲ $1,845,167
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-1,415$7,882▲ $9,297
Total Net Assets Fund Balance$-1,415$7,882▲ $9,297
Total Liabilities and Net Assets / Fund Balance$3,201,552$5,056,016▲ $1,854,464
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Thomas SandquistExecutive DiFT$113,909$113,909

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$478,852
Investment Income
$104
Other Revenue
$1,615
Change in Net Assets
$9,298

Audited Revenue Reconciliation

Revenue per Audited Statements
$480,571
Total Revenue per Audited Statements
$480,571
Total Revenue per Form 990
$480,571
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$471,273
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$106,243$45,533-$151,776
Interest$89,253$38,251-$127,504
Fees for Services Accounting$9,013$3,862-$12,875
Insurance$5,568$2,386-$7,954
Office Expenses$3,007$1,289-$4,296
Fees for Services Legal$2,330$998-$3,328
Conferences and Meetings$2,743--$2,743
Fees for Services Other$637$274-$911
Other Expenses$-239$893-$-239
Total Functional Expenses$370,587$100,686$0$471,273

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$471,273
Total Expenses per Audited Statements$471,273
Total Expenses per Form 990$471,273
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
N/p Nicdc (related)$200,000
N/p Rldc (related)$100,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

Rockford local development corporation (rldc) staff manages the rockford community investment fund (rcif). Rldc and rcif have separate boards of directors.

Form 990, Page 6, Part VI, Line 11B

Provided to board members to review and ask questions/give comments

Form 990, Page 6, Part VI, Line 12C

Request potential conflicts from board members annually

Form 990, Page 6, Part VI, Line 19

If requested, the form(s) can be reviewed in our office.

Filing and Contact Details

Filer

Filer Name
Rockford Community Investment Fund
EIN
87-4616912
Phone
8159878675
Address
120 W STATE ST STE 306, ROCKFORD, IL 61101

Signing Officer

Name
Jeff Fahrenwald
Title
Chair
Phone
8159878675
Signed
2026-02-07

Organization Details

Principal Officer
Jeff Fahrenwald
Formed
2022
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
8
Employees
0
Volunteers
9

Preparer

Firm
Benning Group LLC
Address
6815 WEAVER RD STE 300, ROCKFORD, IL 61114-8060
Preparer
Heather Nondorf
Phone
8153162375
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

PRIOR PERIOD ROUNDING -1

Financial Statement Notes

Schedule D, Page 3, Part X

Rcif is exempt from federal income taxes under internal revenue code section 501(c)(3) of the internal revenue code and applicable state law. The accounting standards on accounting for uncertainty in income taxes address the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under that guidance, rcif may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities based on the technical merits of the position. Examples of tax positions include the tax-exempt status of rcif and various positions related to the potential sources of unrelated business taxable income (ubit). The tax benefits recognized in the financial statements from tax positions are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. There were no unrecognized tax benefits identified or recorded as liabilities for fiscal years ending september 30, 2025 and 2024. Rcif files its information returns (form 990 series) in the u.s. Federal jurisdiction and the office of the state's attorney general for the state of illinois. As of september 30, 2025, tax returns for fiscal years after june 30, 2023 (the first year rcif filed information returns) remain subject to examination.

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IRS990ScheduleD/RevenueSubtotalAmt0480571
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0RCIF IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE STATE LAW. THE ACCOUNTING STANDARDS ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESS THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THAT GUIDANCE, RCIF MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF RCIF AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM TAX POSITIONS ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE WERE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR FISCAL YEARS ENDING SEPTEMBER 30, 2025 AND 2024. RCIF FILES ITS INFORMATION RETURNS (FORM 990 SERIES) IN THE U.S. FEDERAL JURISDICTION AND THE OFFICE OF THE STATE'S ATTORNEY GENERAL FOR THE STATE OF ILLINOIS. AS OF SEPTEMBER 30, 2025, TAX RETURNS FOR FISCAL YEARS AFTER JUNE 30, 2023 (THE FIRST YEAR RCIF FILED INFORMATION RETURNS) REMAIN SUBJECT TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ROCKFORD LOCAL DEVELOPMENT CORPORATION (RLDC) STAFF MANAGES THE ROCKFORD COMMUNITY INVESTMENT FUND (RCIF). RLDC AND RCIF HAVE SEPARATE BOARDS OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROVIDED TO BOARD MEMBERS TO REVIEW AND ASK QUESTIONS/GIVE COMMENTS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REQUEST POTENTIAL CONFLICTS FROM BOARD MEMBERS ANNUALLY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IF REQUESTED, THE FORM(S) CAN BE REVIEWED IN OUR OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PRIOR PERIOD ROUNDING -1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LOANS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0NORTHERN ILLINOIS COMMUNITY
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine2Txt0DEVELOPMENT CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0120 WEST STATE ST SUITE 301
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