About Us
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).
Since the inception of the IISTL and IICDC’s microlending programs, 351 businesses have been created or expanded as a result of our lending with a total economic impact of $92 million, as calculated by the Regional Chamber and Growth Association (RCGA), using IMPLAN economic impact software.
The IICDC’s current non-federal funds come from financial institutions that are committed to provide Equity Equivalent (EQ2) investments or loans through 2012 for the IICDC portfolio. There is also the potential for growth and expansion through CDFI funding.
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. National City /PNC is an EQ2 partner, and Pulaski Bank and Southern Commercial Bank are providing lines of credit. Southwest Bank/M&I was an equity investor for the first year and remains interested in the success of the IICDC. All of these banks are partners since they can provide referrals to us when appropriate clients are unable to meet their guidelines but would be eligible under ours.
The IICDC converted to a Type I supporting organization under Section 509(a)(3) of the Internal Revenue Code effective July 1, 2009 with the sole purpose of conducting activities to support the purposes of IISTL. The IICDC annually requests a grant from the IISTL for staff services, administrative and accounting services, and the related overhead needed to conduct business. The Memorandum of Understanding (MOU) between the IICDC and IISTL outlines the understanding relative to their financial relationship and activities. Donations can also be made directly to the IICDC, which is a 501 (c)(3) organization within the IRS tax code.
Contact Information:
Kathleen Delpha
(314) 773-9090 ext. 156
