INTERNATIONAL INSTITUTE COMMUNITY DEVELOPMENT CORPORATION

THE MICROENTERPRISE AND ASSET BUILDING PROGRAM OF THE INTERNATIONAL INSTITUTE COMMUNITY DEVELOPMENT CORPORATION (IICDC) FOCUSES ON 1) CREDIT, ASSET, AND BUSINESS TRAINING AND TECHNICAL ASSISTANCE FOR IMMIGRANTS, 2) MICRO LENDING TO IMMIGRANT ENTREPRENEURS, 3) CREDIT BUILDER LOANS, 4) ASSET-BUILDING FOR IMMIGRANTS AND, 5) INCOME TAX PREPARATION ASSISTANCE. USING FUNDS FROM THE OFFICE OF REFUGEE RESETTLEMENT (ORR), LOCAL BANK LINES OF CREDIT, CDFI FINANCIAL ASSISTANCE (WHEN APPLICABLE) AND INSTITUTIONAL DONORS, WE PROVIDE MICRO-LOANS OF UP TO $65,000 TO QUALIFIED IMMIGRANT ENTREPRENEURS. OUR BUSINESS PRODUCTS ARE SUPPORTED BY WRAP AROUND BUSINESS DEVELOPMENT ASSISTANCE AND TRAINING. WE COVER TOPICS SUCH AS CREDIT COUNSELING, BUSINESS PLAN DEVELOPMENT, FINANCIAL MODELING AND MARKET ANALYSIS.INCORPORATED IN 2006, IICDC IS DEDICATED TO EXPANDING OUR MICRO-LENDING SERVICES TO THE BROADER IMMIGRANT COMMUNITY. THE IICDC AND THE INTERNATIONAL INSTITUTE OF METROPOLITAN ST. LOUIS (IISTL) (II) ARE SEPARATELY ORGANIZED ENTITIES, EACH WITH 501(C)(3) STATUS. IICDC IS ORGANIZED AS A SUPPORTING ORGANIZATION OF THE IISTL. THE IICDC RECEIVED CDFI (COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION) STATUS FROM THE U.S. DEPARTMENT OF THE TREASURY IN 2008. THE IICDC ADVISORY BOARD INCLUDES MEMBERS WHO REPRESENT THE TARGET LENDING MARKETS AND SUPPORTING ORGANIZATIONS. IICDC LENDING CAPITAL COMPRISES OF ACCESS UP TO $500,000 OF CREDIT BETWEEN PARTNERING BANKS INCLUDING PNC BANK, MIDWEST BANKCENTRE AND CARROLLTON BANK. THERE IS $224,283 CURRENTLY BORROWED BY THE IICDC BETWEEN THE THREE BANKS. IN 2023, IICDC MADE 21 NEW LOANS TO IMMIGRANT AND REFUGEE ENTREPRENEURS IN THE FISCAL YEAR OF 2023, TOTALING $87,000. DURING THIS YEAR, OUR PORTFOLIO MANAGED 34 ACTIVE LOANS WITH THE OUTSTANDING BALANCE OF $75,774.70. FOR THE YEARLY FREE TAX PREPARATION SERVICES, WE HOSTED SESSIONS TWICE PER WEEK DURING THE SERVICE PERIOD THAT INCLUDED THE TOTAL OF 660 FEDERAL RETURNS FILED, AND 677 STATE RETURNS FILED: FOR INDIVIDUALS AND HOUSEHOLDS. THE TOTAL REFUNDS GENERATED FROM THE ACTIVITIES WAS $744,678 IN FEDERAL REFUNDS CLAIMED, AND $415,430 IN STATE REFUNDS CLAIMED. THESE SERVICES LED TO AN ESTIMATED $171,600 IN COST REDUCTION DUE TO THE TAX PREPARATION FEES BEING OFFERED AT NO COST.