National social enterprise is set to expand local investments, tackle racial gaps and build economic opportunity with launch of renewed LISC Puget Sound prnewswire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.com Daily Mail and Mail on Sunday newspapers.
LISC raises $400 million in early capital for Project 10X to address deep racial disparities, promote growth and opportunity
National CDFI is rolling out first investments as part of $1 billion Project 10X plan
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NEW YORK, May 24, 2021 /PRNewswire/ The Local Initiatives Support Corporation (LISC) today announced that it has raised more than $400 million for its Project 10X initiative to bridge racial gaps in health, wealth and opportunity bringing it 40 percent of the way to its $1 billion goal for the 10-year investment effort.
LISC, one of the nation s largest community development financial institutions (CDFIs), launched Project 10X in November 2020. The initiative builds on more than 40 years of LISC investments in affordable housing, economic development, health, safety, education and jobs, all designed to create opportunity for people and communities that have been excluded from full participation in the nation s pros
LISC names Jorge Cruz to expand community investments, drive economic opportunity in Newark
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NEWARK, N.J., May 3, 2021 /PRNewswire/ One of New Jersey s top impact investing strategists is set to take the helm of a leading community development organization, with ambitious plans to expand local investments in affordable housing, economic development, health, education and jobs.
Jorge Cruz, a 30-year veteran of community investing who most recently served as chief external affairs officer with New Jersey Community Capital (NJCC), is the new executive director of LISC Greater Newark, the local arm of the Local Initiatives Support Corporation (LISC). LISC is one of the nation s largest community development organizations, with some $24 billion invested nationwide, including more than $151 million in Newark.
LISC posts record $2B in community investments for 2020
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NEW YORK, March 15, 2021 /PRNewswire/ The Local Initiatives Support Corporation (LISC) today announced that it made more than $2 billion in community investments during 2020 a new record for the 41-year-old national nonprofit that was driven in part by programs related to COVID-19 relief and racial justice.
The expanded activity included nearly every aspect of LISC s work, from increased affordable housing support to new funding for small businesses to deep engagement with partners around health, education, safety and jobs. It spanned some $1.5 billion in equity investments, $290 million in community development loans and $240 million in grants more than four times the level of grantmaking in the prior year.
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NEW YORK, Feb. 23, 2021 /PRNewswire/ The federal government awarded the Local Initiatives Support Corporation (LISC) $7.5 million from the Treasury Department s Capital Magnet Fund (CMF). LISC s award will help leverage $181 million in affordable housing and economic development in deeply distressed rural and urban communities located in 15 states.
LISC received the third largest of CMF s $175.35 million in grants, announced by the Community Development Financial Institutions Fund (CDFI Fund), which is part of the Treasury Department. The grants will help 27 CDFIs and 21 nonprofit housing organizations attract $5.3 billion in loans and investments for projects that help struggling populations. The CDFI Fund expects the latest CMF award to support 23,000 affordable housing units.