PLATINUM2022

Local Initiatives Support Corp. HQ

aka LISC   |   New York, NY   |  http://www.lisc.org

Mission

Together with residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families. Sharing our expertise of 40-plus years, we bring together key local players to take on pressing challenges and incubate new solutions. With them, we help develop smarter public policy. Our toolkit is extensive. It includes loans, grants, equity investments and on-the-ground experience in some of America's most underresourced neighborhoods.

Ruling year info

1980

CEO

Ms. Lisa Glover

Main address

28 Liberty Street 34th Floor

New York, NY 10005 USA

Show more contact info

EIN

13-3030229

NTEE code info

Community, Neighborhood Development, Improvement (S20)

Economic Development (S30)

Community Improvement, Capacity Building N.E.C. (S99)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

For more than 40 years, LISC has advanced equitable, comprehensive community development strategies. We have 38 local offices and work in 2,400 rural counties across 49 states, collaborating with local groups to identify priorities and challenges, formulate comprehensive strategies, and deliver the most effective support to meet the needs on the ground. The COVID-19 pandemic and civil unrest calling for an end to systemic racism brought increased national attention to the overlapping, interdependent challenges facing residents in the historically disinvested communities where LISC works. Inequitable access to basic needs like safety, housing and healthcare, and limited educational and economic opportunities has been magnified. LISC is well-positioned to continue to advance progress in these areas.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

LISC has 38 local offices and a rural program that serves 49 states

Founded in 1979, LISC has become the nation's largest community development support organization. With 38 local offices and a national rural program operating in 49 states, we deliver capital from corporations, foundations, individuals and the government to our network of hundreds of community organizations across the country. This unique "on the ground" presence enables LISC to work closely with our community development organizations to identify local priorities and challenges, thereby creating a tailored plan to address each community's needs. Headquartered in New York City, National LISC offers nationwide program initiatives in areas such as affordable housing preservation, community safety and educational facilities development. National LISC also operates a public policy program that works to make federal and state policy more supportive of community development.

Population(s) Served
Economically disadvantaged people
Adults

Where we work

Accreditations

Charity Navigator | Four-star Rating 2022

S&P Global Ratings | AA- Rating 2022

Affiliations & memberships

Opportunity Finance Network | Member 2022

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Dollars invested in historically underserved rural and urban communities across the country

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Includes investment by LISC and our affiliates, the National Equity Fund, New Markets Support Company, and immito.

Dollars leveraged

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

'Dollars leveraged' is the total development cost of projects in which LISC has invested grant, loans, or equity capital.

Affordable homes developed or preserved for families earning low incomes

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Output - describing our activities and reach

Direction of Success

Holding steady

Square feet of commercial and community space created

This metric is no longer tracked.
Totals By Year
Population(s) Served

Economically disadvantaged people

Type of Metric

Output - describing our activities and reach

Direction of Success

Holding steady

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Together with a diverse set of partners and stakeholders, LISC works alongside local communities to effectively channel capital, enhance infrastructure, and change the systems that create inequality of opportunity. Our local roots, national scale, and comprehensive set of products and services make us a valuable partner to communities looking to generate inclusive economic growth and neighborhood stability. Our financial strength, wide-ranging expertise, and ability to work across sectors make us a valuable partner to investors, funders and others who are looking to join the cause. Finally, our years of experience creating shared agendas and uplifting the perspectives of local leaders, position us to drive equitable development by ensuring that capital is responsive to community voices.
LISC will work to support equitable recovery and rebuilding through the following goals:
1) Invest in wealth building and resilience supports for individuals and communities that are Black, Indigenous and people of color.
2) Grow capital aggregation and deployment, establishing intentional impact parameters.
3) Augment the implementation capacity of the community and economic development ecosystem.
4) Continue attracting new partners and expand the diversity of community voices in the work
5) Pursue an ambitious policy agenda across all levels of government.

Driving this work is Project 10X, LISC’s ambitious initiative to help close racial wealth and opportunity gaps and invest in the wellbeing of BIPOC people and communities. LISC is on track with its goal to raise and deploy $1 billion in 10 years, with $663 million raised, and $121.3 million as of year-end 2021. Through Project 10X, LISC will continue to invest with a clear racial lens to scale proven solutions and seed new approaches to upend the racial health, wealth, and opportunity gaps.

LISC will build on our core work while striving to ensure that our contributions maximize equity and impact to address the racial health, wealth and opportunity gaps. Through Project 10X, we invest in businesses, community organizations, developers and projects that build equity for people and communities of color, and deepen our focus on individual and community ownership strategies, which are key to building generational wealth and equity.

Our Project 10X investments focus in four key areas that are drivers of health, wealth, and opportunity for people of color:

1. Generating lasting equity and wealth through homeownership and small business ownership: LISC invests in building equity and wealth for Black, Indigenous, and people of color (BIPOC) through investment in homeownership, community ownership, and small business ownership.

2. Building credit and savings and strengthening financial institutions led by BIPOC: LISC scales models designed to increase access to financing for underbanked communities, improve credit scores, build savings, and manage major expenses.

3. Investing in community assets such as health, education, arts and justice: LISC works to ensure that children and families have access to the facilities, organizations, and programs that are fundamental to improved outcomes in health, wealth, and opportunity.

4. Supporting quality jobs with good wages and benefits: LISC invests in businesses creating jobs that provide good wages and benefits for local residents, as well as programs that create pathways to living wage careers in high-demand industries for individuals who are unemployed or underemployed. This includes investing in the ecosystem that supports success.

Partnership lies at the heart of LISC’s model, and we will continue to support the work of local organizations and leaders that can equitably and accountably serve as conduits of opportunity for communities of color. We are augmenting the implementation capacity of the community development ecosystem, working with local non-profits, municipalities, anchor institutions, and businesses. We are actively pursuing new partnerships that can bring in resources and capital to support the work, and continuing to forge strategic partnerships with the corporate community, philanthropy, healthcare entities, and government to advance community development. Across all of our activities, we work intentionally to center community perspectives, whose experiences and knowledge are critical to address systems failures and drive innovation.

LISC is well positioned to meet the moment and continue playing an important role in working to close the racial health, wealth, and opportunity gaps in this country. LISC has thousands of cross-sector partners that support individual and community transformation. As an intermediary, one of our primary roles is convening, supporting, and enabling local partners to pursue community development activities. LISC’s connections to local organizations allow us to build coalitions and influence local policies to benefit the residents in the communities we serve. We will engage existing, and cultivate new, partners in our efforts to help close equity gaps in local communities.

LISC’s national-local structure provides us with an advantage. We have a breadth of knowledge on local market dynamics, an extensive network of community partners, a depth of technical expertise, a track record of successful program replication, and a history of effective capital deployment. With these assets, LISC is positioned to be a bold and effective leader in closing persistent racial health, wealth and opportunity gaps in the communities we serve.

LISC has been at the forefront of community development financing and innovation for over 40 years, and has a track record of delivering quality results. Since our founding in 1979, we have invested $24 billion and leveraged an additional $69 billion in public and private funding, resulting in 436,000 affordable homes and apartments; 74 million square feet of commercial, retail and community space; almost 900 schools, early childhood centers, and recreational spaces serving over 860,000 children each year; more than 110 Financial Opportunity Centers serving 25,000 residents per year; and more.

We strive to create and carry out innovative solutions responding to community priorities. For example, in response to the pandemic, we rapidly mobilized resources and partners to deliver relief to Americans hit first, and hardest, by the crisis. This includes deploying thousands of grants to women- and minority-owned small businesses in danger of closure and helping community-based organizations provide basic needs like food, housing, and technology access to people who were struggling to get by before COVID-19 hit our shores.

Since 1979, LISC has raised and directly invested $26.7 billion in funding and leveraged over $75 billion in additional private and public resources to support neighborhood revitalization projects and programs across our national footprint, through 38 local offices and a rural initiative spanning 2,400 counties in 49 states. LISC offers loans, grants, and equity investments, together with on-the-ground strategic and technical expertise, to hundreds of organizations in urban and rural communities in some of America’s most underinvested neighborhoods. These investments have impacted the lives of millions of Americans.

Lending is an essential instrument in LISC’s community development toolkit. As one of the largest community development financial institutions (CDFI) in the nation, we work in partnership with local grassroots groups, for-profit developers and government agencies to finance programs and projects that will have a positive, long-term impact. We leveraged these skills to provide rapid response in the wake of the pandemic, providing intensive technical assistance and underwriting to provide loans to women- and minority-owned and led businesses and nonprofits in underserved communities through the federal Paycheck Protection Program (PPP). LISC also raises loan capital to support women- and minority-led small businesses and partners with Kiva to support capital access for micro-borrowers.

LISC’s response to the pandemic also included the rapid launch of our national Small Business COVID-19 Relief Grant Program. Since March 2020, LISC has secured and deployed more than $240 million in grants to small businesses and nonprofits in urban and rural communities, providing more than 16,000 entrepreneurs, the vast majority of which are women or people of color and located in underserved communities, with grants to help them stay in business and continue to contribute to their local economies.

With a $1.1 billion balance sheet and an ‘AA-’ rating from S&P Global Ratings, LISC has the organizational and financial stability, and proven track record, to manage and deploy significant pools of private and public funding. We have a strong infrastructure in place that allows us to centralize and manage various functions required for grant and loan administration, and to manage large and complex funds, including disaster relief funding.

LISC continues to advance Project 10X, our biggest, most ambitious and most urgent initiative ever. It is designed to upend the racial health, wealth and opportunity gap that keep tens of millions of Americans from sharing in our country’s prosperity and realizing their personal potential. Project 10X is both a moral imperative and economic common sense: it is a means to realizing America’s egalitarian and democratic ideals.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization collecting feedback from the people you serve?

    Electronic surveys (by email, tablet, etc.), Paper surveys, Focus groups or interviews (by phone or in person), Case management notes, Community meetings/Town halls, Constituent (client or resident, etc.) advisory committees, Suggestion box/email, Research and impact studies of LISC's work,

  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To document need for change within broader policies and practices within the field.,

  • With whom is the organization sharing feedback?

    The people we serve, Our staff, Our board, Our funders, Our community partners, Changemakers in the community development field.,

  • Which of the following feedback practices does your organization routinely carry out?

  • What challenges does the organization face when collecting feedback?

    We don't have any major challenges to collecting feedback,

Financials

Local Initiatives Support Corp.
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

Local Initiatives Support Corp.

Board of directors
as of 12/29/2022
SOURCE: Self-reported by organization
Board co-chair

Mr Robert Rubin

Council on Foreign Relations


Board co-chair

Lisa Cashin

Richard "Rip" Rapson

The Kresge Foundation

Colvin Grannum

Bedford-Stuvesant Restoration Corporation

Rey Ramsey

Centri Capital

Gregory Belinfanti

One Equity Partners

Audrey Choi

Morgan Stanley

Michelle de la Uz

Fifth Avenue Committee

Sally Durdan

JPMorgan Chase

Lisa Glover

LISC

Nilda Ruiz

Asociación Puertorriqueños en Marcha

Ellen Gilligan

Greater Milwaukee Foundation

Lisa Hasegawa

NeighborWorks America

Kathy Merchant

Kathy Merchant LLC

Gregory Fairchild

University of Virginia

David Hess

Centerview Partners

Jerry Rickett

Kentucky Highlands Investment Corporation

Robert Rubin

Former Secretary of the US Treasury; Council on Foreign Relations

Lisa Cashin

Nicole Arnaboldi

Oak Hill Capital

Zack Boyers

USBancorp Community Development

Alisahah Jackson

CommonSpirit Health

Karen Fang

Bank of America

Curtis Reed, Jr.

JPMorgan Chase

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? No
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 11/18/2022

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 03/04/2022

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We disaggregate data by demographics, including race, in every policy and program measured.
Policies and processes
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.