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        </USAddress>
        <RecipientEIN>813858986</RecipientEIN>
        <IRCSectionDesc>501C(3)</IRCSectionDesc>
        <CashGrantAmt>10000</CashGrantAmt>
        <NonCashAssistanceAmt>0</NonCashAssistanceAmt>
        <PurposeOfGrantTxt>PROGRAM SUPPORT</PurposeOfGrantTxt>
      </RecipientTable>
      <Total501c3OrgCnt>1</Total501c3OrgCnt>
      <TotalOtherOrgCnt>0</TotalOtherOrgCnt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>FOR RESEARCH PROJECTS WHERE THE MULTIFAMILY IMPACT COUNCIL IS THE PRIMARY FUNDING SPONSOR, WE HOLD BI-WEEKLY STATUS UPDATE MEETINGS WITH OUR RESEARCH PARTNER TO ENSURE THAT DELIVERABLES ARE BEING MET AND ANY QUESTIONS CAN BE ANSWERED. FOR RESEARCH PROJECTS WHERE THE MULTIFAMILY IMPACT COUNCIL IS NOT THE PRIMARY FUNDING SPONSOR, WE RECEIVE QUARTERLY UPDATES ON THE RESEARCH PROJECT FROM THE LEAD RESEARCH PARTNER.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleL documentId="RetDoc1042800001">
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>BOB SIMPSON</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>PRESIDENT, CEO AND CO-FOUNDER</RelationshipDescriptionTxt>
        <TransactionAmt>294000</TransactionAmt>
        <TransactionDesc>MANAGEMENT CONTRACT WITH SIMPSON IMPACT STRATEGIES, LLC TO OVERSEE THE DAY TO DAY MANAGEMENT AND ACTIVITIES OF THE MIC</TransactionDesc>
        <SharingOfRevenuesInd>0</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
    </IRS990ScheduleL>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>SIMPSON IMPACT STRATEGIES, LLC (SIS) SERVES AS THE MANAGEMENT COMPANY FOR THE ORGANIZATION. SIS IS RESPONSIBLE FOR IMPLEMENTING THE ORGANIZATION'S BUSINESS PLAN AND MANAGES ALL DAY TO DAY ACTIVITIES OF THE ORGANIZATION. IN 2025, SIS RECEIVED $294,000 IN COMPENSATION FROM THE MIC. THIS COMPENSATION COVERS ADMINISTRATIVE EXPENSES ASSOCIATED WITH THE MANAGEMENT OF THE MIC AND STAFF TIME FOR A RESEARCH ASSOCIATE, COMMUNICATIONS DIRECTOR AND CEO. BOB SIMPSON, CEO, WAS PAID $164,000 BY SIS FOR HIS SERVICES AS CEO FOR MIC.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>IN 2025, THERE ARE TWO CLASSES OF MEMBERS: FOUNDING MEMBERS AND SUSTAINING MEMBERS. FOUNDING MEMBERS ARE THE ORIGINAL MEMBERS OF THE ORGANIZATION AND PROVIDED FINANCIAL SUPPORT IN THE FORM OF AN UPFRONT MEMBERSHIP FEE COMMITMENT THAT COVERED THE FIRST 2 OR 3 YEARS OF THE ORGANIZATION (DEPENDING ON THE AMOUNT OF THEIR INITIAL COMMITMENT). SUSTAINING MEMBERS JOINED AFTER THE ORGANIZATION WAS CREATED AND PAY AN ANNUAL MEMBERSHIP FEE. UPON EXPIRATION OF THE FOUNDING MEMBERS' 2- OR 3-YEAR COMMITMENT, THEY WILL BECOME SUSTAINING MEMBERS SUBJECT TO ANNUAL MEMBERSHIP FEES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 8B</FormAndLineReferenceDesc>
        <ExplanationTxt>NO COMMITTEES HAVE BEEN BEEN FORMED TO ACT ON BEHALF OF THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COPY OF THE 990 WILL BE REVIEWED BY THE PRESIDENT, BOB SIMPSON.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE MULTIFAMILY IMPACT COUNCILS' CONFLICT OF INTEREST POLICY IS A BOARD-ADOPTED POLICY WHICH COVERS ALL OFFICERS AND BOARD MEMBERS. EACH YEAR, OR PRIOR TO ONBOARDING, MIC WILL DISTRIBUTE A DISCLOSURE FORM TO ITS BOARD MEMBERS FOR ONGOING MONITORING OF ANY CONFLICTS. IF A CONFLICT OF INTEREST IS DISCLOSED, THE BOARD MUST DETERMINE WHETHER ONBOARDING THE INDIVIDUAL IS FAIR AND REASONABLE, AND IN THE BEST INTEREST OF THE ORGANIZATION. ANY RESTRICTIONS THAT MAY BE IMPOSED ON INDIVIDUALS WITH CONFLICT(S) WILL BE DETERMINED BY THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART VII</FormAndLineReferenceDesc>
        <ExplanationTxt>BOB SIMPSON ACTS AS THE TOP MANAGEMENT AND TOP FINANCIAL OFFICIAL OF THE ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
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        <DisregardedEntityName>
          <BusinessNameLine1Txt>THE MULTIFAMILY IMPACT COUNCIL RESEARCH FUND</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>200 S PHILIPS AVE STE 300</AddressLine1Txt>
          <CityNm>SIOUX FALLS</CityNm>
          <StateAbbreviationCd>SD</StateAbbreviationCd>
          <ZIPCd>57104</ZIPCd>
        </USAddress>
        <EIN>993154315</EIN>
        <PrimaryActivitiesTxt>SUPPORT RESEARCH INITIATIVES</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>SD</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)(3)</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>LINE 7</PublicCharityStatusTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>THE MULTIFAMILY RESEARCH COUNCIL</BusinessNameLine1Txt>
        </DirectControllingEntityName>
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      <GiftGrntOrCapContriToOthOrgInd>0</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>0</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>0</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>0</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>0</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>0</AssetSaleToOtherOrgInd>
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      <AssetExchangeInd>0</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>0</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>0</RentalOfFcltsFromOthOrgInd>
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</Return>