We currently help provide funding to nonprofits in the US, US territories, Canada, and Mexico. As we scale, we plan to further expand our operations.
We work in all residential, commercial, and industrial sales, including land sales, and in commercial, industrial, and residential leases. Only For Sale By Owner transactions are not eligible.
Yes, we are a registered 501(c)(4) nonprofit organization.
Unlike a 501(c)(3), a 501(c)(4) is legally able to publicize and promote the interests of a for-profit enterprise. In our case, we publicize and promote the interests of socially responsible corporations and real estate professionals. 501(c)(4) organizations are ineligible to receive federal grant money. In addition, donations to 501(c)(4) organizations are generally not considered tax-deductible charitable contributions. However, donations to 501(c)(4) organizations are deductible as trade or business expenses. Click here to read relevant IRS policy.
See answer to next question.
In 11 US states, a real estate professional cannot give any part of his/her commission to any entity that isn’t a licensed real estate broker. How does IIC solve this complication?
IIC is a nonprofit. Our mission is to connect individuals and businesses with socially responsible professionals to generate funding for nonprofits. We do not refer specific buyers, sellers, lessors, or lessees to specific real estate professionals. However, in order to operate consistently within the aforementioned license laws of all 50 US states, IIC has formed a nonprofit affiliate, IIC Nonprofit Realty, which is a licensed real estate broker. This affiliate immediately distributes all funds it receives from real estate professionals to IIC for subsequent distribution to the nonprofit of the client’s choice.
Therefore, the real estate professional can legally give funds to IIC Nonprofit Realty, a licensed real estate broker. IIC Nonprofit Realty gives funds to IIC, a 501(c)(4) nonprofit. IIC then donates funds to the 501(c)(3) nonprofit of the client’s choice. Click to read more about how money flows through IIC.
