IFF: Single Audit Reports and Findings
IFF filed 10 single audits between 2016 and 2025; the most recently observed auditor is RSM US LLP (2025), and the 2025 report lists 1 finding. Data as of 2026-09-18.
Data as of Sep 18, 2026 · Source: Federal Audit Clearinghouse (public data)
Single audits by year
One row per audit year as the Federal Audit Clearinghouse accepted it. The auditor named is the one observed on that filing; IFF is recorded in CHICAGO, Illinois under EIN 363656836, and the Clearinghouse records it as a nonprofit.
| Audit year | Fiscal year end | Federal expended | Threshold applied | Auditor observed | Findings | MW / SD | FAC report |
|---|---|---|---|---|---|---|---|
| 2025 | 2025-12-31 | $53,376,327 | $1,000,000 | RSM US LLP | 1 | — | 2025-12-GSAFAC-0000417130 |
| 2024 | 2024-12-31 | $68,374,434 | $2,051,233 | RSM US LLP | 0 | — | 2024-12-GSAFAC-0000366341 |
| 2023 | 2023-12-31 | $97,777,565 | $2,933,327 | RSM US LLP | 0 | — | 2023-12-GSAFAC-0000039016 |
| 2022 | 2022-12-31 | $57,502,499 | $750,000 | RSM US LLP | 0 | — | 2022-12-CENSUS-0000216160 |
| 2021 | 2021-12-31 | $53,329,796 | $750,000 | RSM US LLP | 0 | — | 2021-12-CENSUS-0000216160 |
| 2020 | 2020-12-31 | $51,185,542 | $750,000 | RSM US LLP | 0 | — | 2020-12-CENSUS-0000216160 |
| 2019 | 2019-12-31 | $48,251,539 | $750,000 | RSM US LLP | 0 | — | 2019-12-CENSUS-0000216160 |
| 2018 | 2018-12-31 | $27,890,795 | $750,000 | RSM US LLP | 0 | — | 2018-12-CENSUS-0000216160 |
| 2017 | 2017-12-31 | $32,096,327 | $962,890 | RSM US LLP | 0 | — | 2017-12-CENSUS-0000216160 |
| 2016 | 2016-12-31 | $25,773,636 | $750,000 | RSM US LLP | 0 | — | 2016-12-CENSUS-0000216160 |
Which federal programs did this organization report?
From the most recent accepted report. "Major" is the designation the auditor made under 2 CFR 200.518, not ours.
| ALN | Program | Expended | Major |
|---|---|---|---|
| 21.014 | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS BOND GUARANTEE PROGRAM | $17,998,612 | No |
| 84.354 | CREDIT ENHANCEMENT FOR CHARTER SCHOOL FACILITIES | $10,827,654 | No |
| 84.354 | CREDIT ENHANCEMENT FOR CHARTER SCHOOL FACILITIES | $9,596,347 | No |
| 21.011 | CAPITAL MAGNET FUND | $5,000,000 | Yes |
| 21.011 | CAPITAL MAGNET FUND | $5,000,000 | Yes |
| 84.354 | CREDIT ENHANCEMENT FOR CHARTER SCHOOL FACILITIES | $2,328,471 | No |
| 21.011 | CAPITAL MAGNET FUND | $2,000,000 | Yes |
| 14.251 | ECONOMIC DEVELOPMENT INITIATIVE, COMMUNITY PROJECT FUNDING, AND MISCELLANEOUS GRANTS | $267,183 | Yes |
| 21.033 | COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND EQUITABLE RECOVERY PROGRAM (CDFI ERP) | $164,567 | No |
| 14.218 | COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS | $81,725 | No |
| 14.218 | COMMUNITY DEVELOPMENT BLOCK GRANTS/ENTITLEMENT GRANTS | $79,914 | No |
| 21.027 | COVID-19 CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS | $31,854 | No |
What findings did the auditor report?
The reference and the requirement letter are the ones the auditor used. The finding text itself is not reproduced here; the FAC report linked above carries it in full.
| Reference | Requirement | Severity | Repeat |
|---|---|---|---|
| 2025-001 | I | Material weakness | No |
Form 990 and IRS registration
Form 990 "accounting fees" (Part IX line 11c) cover all accounting services reported by the organization and are not the price of an audit engagement.
- Most recent return
- 990 for 2025-12
- Total revenue
- $62,525,991
- Total assets
- $828,286,048
- Accounting fees (Part IX line 11c)
- $216,614
- Paid preparer
- RSM US LLP
- IRS object id
- 202602339349301370
- NTEE code
- S500
- Exempt under
- 501(c)(3)
- Ruling year
- 1990
- BMF release
- 2026-09-17
Read next
- CPA firms that audit Illinois nonprofits
- Illinois single audit statistics
- Illinois nonprofit audit requirements
How we computed this
Every row comes from the Federal Audit Clearinghouse record named beside it, one report per audit year, with a resubmission superseding the filing it replaces. The auditor is the one named on that filing — it is not a statement about who audits IFF now. Form 990 figures come from the IRS e-filed return named by its object id. This page exists because the organization filed at least two single audits, or one with a finding.
Cite this page
AuditRadar. “IFF Single Audits and Findings (IL).” https://getauditradar.com/single-audits/il/iff-363656836/. Data as of 2026-09-18.