The International Institute Community Development Corporation (IICDC) is a nonprofit affiliated with the International Institute of St. Louis (IISTL). The IISTL has been making microloans to refugees since 1999 with restricted funding from the Office of Refugee Resettlement of the US Department of Health & Human Services. The IICDC was founded in 2006 to serve other distressed populations (low income and minority, African American and Hispanic), primarily located in certain targeted neighborhoods. In 2008, the IICDC was awarded Community Development Financial Institution (CDFI) status by the U.S. Department of the Treasury. Later the same year, it was also designated as a Community Development Entity (CDE).
The IICDC's current non-federal funds come from financial institutions that are committed to provide Equity Equivalent (EQ2) investments or Lines of Credit through 2012 for the IICDC portfolio. There is also the potential for growth and expansion through CDFI funding at some point in the future.
There are currently four banks with which the IICDC has strong relationships. They have provided either EQ2 funds or lines of credit to the IICDC program. PNC is an EQ2 partner, and Pulaski Bank and Southern Commercial Bank are providing lines of credit. BMO Harris Bank was an equity investor for the first year and remains interested in the success of the IICDC. All of these banks also partner by providing referrals when appropriate clients are unable to meet their guidelines but would be eligible under ours.
The IICDC is a Type I supporting organization under Section 509(a)(3) of the Internal Revenue Code with the sole purpose of conducting its activities to support the purposes of IISTL. Donations can be made directly to the IICDC, which is a 501 (c)(3) organization within the IRS tax code. A copy of the IICDC's most recent IRS Form 990 is available.
(314) 773-9090 ext. 156