irs program accomplishments · form 990 part iii · fy2024
What they reported doing
- #1 primary $111.09MTHE ORGANIZATION PROVIDES GRANTS TO COMMUNITY BASED ORGANIZATIONS, SMALL BUSINESSES, FOR-PROFIT EMERGING DEVELOPERS AND OTHERS THROUGHOUT THE COUNTRY TO SUPPORT THEIR EFFORTS TO REVITALIZE DISINVESTED COMMUNITIES AND/OR BENEFIT LOW-WEALTH INDIVIDUALS AND FAMILIES. IN 2024, THE ORGANIZATION ISSUED 1,470 GRANTS THROUGHOUT THE COUNTRY TO SUPPORT THE DEVELOPMENT OF 2,325 UNITS OF AFFORDABLE HOMES AND APARTMENTS; 161,342 SQUARE FEET OF COMMERCIAL, COMMUNITY, AND EDUCATIONAL FACILITY SPACE; INCOME AND WEALTH BUILDING OPPORTUNITIES FOR INDIVIDUALS AND FAMILIES LIVING ON LOW TO MODERATE-INCOMES; AND CAPACITY BUILDING, OPERATIONS, AND OTHER COMMUNITY DEVELOPMENT ACTIVITIES. THE ORGANIZATION ALSO ISSUED 308 GRANTS TO SMALL BUSINESSES AND OTHER INSTITUTIONS THROUGHOUT THE COUNTRY.
- #2 $65.47MLENDING. THE ORGANIZATION PROVIDES LOANS, LINES OF CREDIT, AND OTHER RECOVERABLE FINANCING AT ALL STAGES OF DEVELOPMENT - FROM PREDEVELOPMENT TO PERMANENT - TO SUPPORT PROJECTS AND PROGRAMS THAT REVITALIZE DISINVESTED COMMUNITIES AND BENEFIT INDIVIDUALS AND FAMILIES LIVING ON LOW TO MODERATE INCOMES.
named programs · 3 · from sources
What they call their work
Community Development Grants
Provides grants to community-based organizations to support affordable housing, commercial and community facilities, and capacity building in disinvested communities.
Lending Program
Provides loans, lines of credit, and recoverable financing at all stages of development to support projects in low- and moderate-income communities.
Small Business Support
Offers grants and recoverable financing to small businesses, including emergency relief programs for COVID-19 response.
activities · 5 groups
What they do
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Nonprofit Capacity Building Services 1 activity
- Delivering technical and capacity-building assistance to local partnersOperates through 34 local offices and a rural program, employing over 500 staff to provide technical and management assistance that strengthens the capacity of community-based organizations and developers nationwide.
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Flexible Grants to Grassroots Organizations 1 activity
- Funding affordable housing and community development projectsFunds the creation of affordable housing units, commercial and community facilities, and recreational spaces through grants, loans, and equity investments. Supported the development of over 552,000 affordable homes and 88 million square feet of commercial space, along with hundreds of athletic fields, theaters, and health centers.
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Individual Child Education Sponsorship 1 activity
- Funding education, job training, and youth programsSupports community-based programs that connect residents to quality education, job training, and employment services. Serves over 103,000 children annually through 249 schools and 29,000+ children at 300 early childhood centers.
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Interest-Free Loan and Grant Support 1 activity
- Funding small business development and financial health initiativesProvides grants, loans, and technical assistance to support small businesses, particularly in distressed and low- to moderate-income communities, including emergency pandemic relief. Has provided $7 billion in loans and supported tens of thousands of individuals in improving their financial health and employment outcomes.
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Small Business and Nonprofit Lending 1 activity
- Providing recoverable financing for community revitalizationOffers loans and lines of credit across all project stages to finance community development initiatives that revitalize disinvested areas and benefit low- to moderate-income individuals and families.
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financials · form 990 · fy2024
revenue
Total revenue$363.86M
Contributions & grants$266.70M73%
Program service revenue$85.39M23%
Investment income$11.71M3%
Other revenue$62K
expenses
Total expenses$344.53M
Program expenses88%
Admin / overhead9%
Fundraising3%
Salaries & benefits$107.42M
Grants paid out$111.09M
Largest expense lineCompensation
balance sheet
Total assets$1.64B
Cash$416.01M
Investments$984.38M
Liabilities$1.09B
Net assets$553.49M
Liquid reserves48.8 mo
4 years on record · 2020–2024 · YoY revenue -2.5%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 25
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| MICHAEL PUGH | DIRECTOR/CEO | 35 | $857K |
| DENISE NOTICE-SCOTT | FORMER PRESIDENT | 0 | $669K |
| KEVIN BOES | CEO - BROADSTREET | 35 | $646K |
| STEVEN PETSOS | PRESIDENT - BROADSTREET | 35 | $564K |
| CHRISTINA TRAVERS | EVP/CFO | 35 | $529K |
| ROBERT COONEY | SVP/GENERAL COUNSEL | 38 | $492K |
| MATTHEW JOSEPHS | SVP | 35 | $419K |
| MIRANDA JONES | SVP | 35 | $411K |
| ADRIANA SANDOVAL | CFO BROADSTREET IMPACT SERVICES, LLC | 35 | $406K |
| SHAWN LUTHER | SVP, CHIEF CREDIT OFFICER | 35 | $393K |
| BARBARA LIBOVE | SVP & DEPUTY CFO | 35 | $392K |
| MICHAEL SKREBUTENAS | SVP | 35 | $378K |
| CELAYNE HILL | SVP & SECRETARY | 35 | $377K |
| MEGHAN K HARTE | SENIOR EXECUTIVE DIRECTOR | 35 | $374K |
| KENNETH PATRICK MAHER | SVP & SECRETARY | 35 | $374K |
| JESSICA HART | VP | 35 | $366K |
| TAHIRIH ZIEGLER | SVP | 35 | $354K |
| MIKE HUMBERSTONE | VP | 35 | $354K |
| COLLETTE WILLIAMS | VP & CONTROLLER | 35 | $352K |
| TIFFANY DURR | SVP AND PRESIDENT OF LISC FUND MGMT | 35 | $348K |
| JOSEPH M HORIYE | VP | 35 | $342K |
| MADELINE FRASER COOK | SVP | 35 | $342K |
| VALERIE WHITE | SENIOR EXECUTIVE DIRECTOR | 22 | $341K |
| WILLIAM TAFT | SVP | 35 | $335K |
| MANPREET MANGAT | VP | 35 | $327K |
relationships · 21
Who they work with
- BNY Mellon Partner — Partner organization through which donors can make gifts to LISC via donor advised funds.
- Broadstreet Partner — Affiliate organization of LISC providing financial and advisory services
- Broadstreet Partner — Partner organization in community development and investment.
- Development Team Partner — Team responsible for engaging corporate and foundation partners in LISC's economic opportunity initiatives.
- Fidelity Charitable Partner — Partner organization through which donors can make gifts to LISC via donor advised funds.
- Ford Foundation Funder — Conceived of LISC in 1979 and provided foundational support.
- Foundation Center 990 Finder Partner — Makes Form 990s available through Foundation Center 990 Finder for public access.
- Greenhouse Partner — Platform used for hosting LISC's internship job board
- Guidestar Partner — Makes Form 990s available through Guidestar for public access.
- IRS Government — Files Form 990 and audited financial statements annually with the IRS.
- LISC Government — LISC’s Code of Conduct and Strategic Plan documents reflect organizational policies and commitments.
- LISC Fund Management Partner — Affiliate organization of LISC managing investment funds
- LISC Fund Management Partner — Investment arm managing funds for community development projects.
- NEF Partner — Partner organization in community development and investment.
- National Equity Fund Partner — Affiliate organization of LISC focused on equity investments
- Rural LISC Partner — Rural program investing in and supporting partners across hundreds of communities nationwide.
- Schwab Charitable Partner — Partner organization through which donors can make gifts to LISC via donor advised funds.
- United HealthCare Government — Creates and publishes Machine-Readable Files on behalf of LISC for regulatory compliance
- community based organizations Partner — Receives grants and financing to carry out local community development initiatives
- for-profit emerging developers Partner — Receives financial support to develop affordable housing and community facilities in disinvested areas
- small businesses Partner — Receives grants and recoverable financing to support operations, growth, and pandemic recovery
strategies · 3
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Catalytic Capital Intermediary Modelmethodology: intermediary_modelBy acting as a financial and technical intermediary, we unlock and direct capital from public and private sources to underserved communities, producing ecosystem-level impact because we bridge systemic gaps in access and de-risk investment for local organizations.
- Community-Driven Developmentmethodology: community-driven developmentBy centering community member input and priorities in planning and implementation, we produce more effective and equitable community change because solutions are locally designed and rooted in lived experience. This approach builds trust, ensures relevance, and increases the sustainability of outcomes.
- Holistic Systems Change through Integrated Strategiesmethodology: systems change innovationBy addressing interconnected challenges like housing, employment, and financial stability through comprehensive, place-based initiatives, we generate sustained community transformation because systemic barriers require coordinated, multi-sector interventions.