2024-06-20T10:08:03-04:00 2023-09-30 300003878 BENNING GROUP LLC 6815 WEAVER RD STE 300 ROCKFORD IL 611148060 990 2023-07-01 874616912 ROCKFORD COMMUNITY INVESTMENT FUND ROCK 8159878675 120 W STATE ST STE 306 ROCKFORD IL 61101 JEFF FAHRENWALD CHAIR 8159878675 2024-06-05 JEFF FAHRENWALD 000990000 false JAKOB J THOMPSON P01272205 8153162375 2024-06-05 2023 2023-04-26 12:10:37Z REV PROC 8558 RULES APPLY JEFF FAHRENWALD 120 WEST STATE ST STE 306 ROCKFORD IL 61101 40652 false X X 2022 IL TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES 9 9 0 9 0 130000 0 65971 40198 1443 454 0 197414 40652 0 0 0 0 0 167406 44906 167406 44906 30008 -4254 1949188 1945784 2000000 2000850 -50812 -55066 TO SUPPORT HOUSING AND COMMUNITY DEVELOPMENT VENTURES false false 18391 40198 RCIF MANAGES A LOAN FUND WHICH PROVIDES ACCESS TO CAPITAL TO FINANCE THE REHABILITATION OF DILAPIDATED HOMES, PRIMARILY IN LOW AND MODERATE INCOME NEIGHBORHOODS. AS OF 9/30/2023, RCIF HAS 25 LOANS OUTSTANDING AND HAD FINANCED A TOTAL OF 44 PROJECTS. 18391 true false false false false false false false false false false false false false true true true false false false false false false false false false false false false false false false false false false false false false false false false false false true false false false true 4 0 0 false false false false false false false false false false false false false false X 9 9 false true false false false false false true true false false true true true true false false false false false IL X X THOMAS SANDQUIST 8159878675 120 WEST STATE ST STE 306 ROCKFORD IL 61101 JEFF FAHRENWALD CHAIR 4.00 X X 0 0 0 JOHN PHELPS SECRETARY 2.00 X X 0 0 0 LINDA HECKERT TREASURER 2.00 X X 0 0 0 EARL DOTSON JR BOD 2.00 X 0 0 0 TODD CAGNONI BOD 2.00 X 0 0 0 ALFREDO LINARES BOD 2.00 X 0 0 0 CHARLES BOX BOD 2.00 X 0 0 0 SHELTON KAY BOD 2.00 X 0 0 0 JIM RYAN BOD 2.00 X 0 0 0 THOMAS SANDQUIST EXECUTIVE DI 40.00 X 0 87370 0 87370 false false false INTEREST INCOME - NOTES REC 531390 38798 38798 LOAN DOCUMENTATION INCOME 531390 1400 1400 40198 454 454 40652 40198 454 23832 15491 8341 8850 8850 278 278 4500 4500 1979 1979 MANAGEMENT FEE 2025 2025 PROVISION FOR LOAN LOSS 1489 1489 SEMINARS 1357 1357 BANK SERVICE CHARGES 542 542 54 54 44906 18391 26515 0 249200 293703 258644 152267 10257 20603 1425150 1475252 5937 3959 1949188 1945784 850 1700000 1700000 300000 300000 2000000 2000850 X -96834 -73595 46022 18529 -50812 -55066 1949188 1945784 -4254 X false true X true false X 130000 130000 130000 130000 2357 127643 1443 454 1897 265 265 132162 116035 X PART II, LINE 10 OTHER INCOME 265 SUPPLEMENTAL INFORMATION SHORT TAX YEAR: THE CURRENT YEAR IS A SHORT TAX YEAR 7/1/23-9/30/23 N/P NORTHERN IL COMMUNITY DEV 200000 N/P RLDC 100000 300000 X 40652 40652 40652 44906 44906 44906 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 YEAR ENDING SEPTEMBER 30, 2023. 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, 2023, TAX RETURNS FOR FISCAL YEARS AFTER JUNE 30, 2022 (THE FIRST YEAR RCIF FILED INFORMATION RETURNS) REMAIN SUBJECT TO EXAMINATION. 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. ROCKFORD LOCAL DEVELOPMENT CORP 120 WEST STATE STREET SUITE 306 ROCKFORD IL 611011437 363038678 ECO DEV IL 501C6 N/A false NORTHERN ILLINOIS COMMUNITY DEVELOPMENT CORPORATION 120 WEST STATE ST SUITE 301 ROCKFORD IL 61101 363830032 LOANS IL N/A C CORP false false false false false false false false false false false false false false false false false false false false