LISC National


 

In 2017
 

$1.2 billion invested   

$4.4 billion leveraged

14,700

affordable homes
and apartments

3.7 million

square feet of commercial
 and community space

 


Since 1979
 

$18 billion invested   

$56 billion leveraged

376,191

affordable homes
and apartments

63 million

square feet of commercial
 and community space

81,708

children served each year
by 207 schools

23,617

children served each year by
223 early childhood centers

366

fields serving 600,000 kids

80

Financial Opportunity Centers

90

healthy food projects, including 
grocery stores and farmers markets

80

health projects, including
healthcare centers

29

theaters and performance spaces

100's

of other retail, arts and community projects



Total Net Assets, Past 10 Years


 

As of December 31, 2017

Condensed Statement of Financial Position

Assets

Cash & Investments
$247,489,849
Contributions receivable
37,412,313
Loans to CDCs & affiliates, net
328,674,501
Investment in affiliates
68,230,658
Other assets
47,673,070
Total assets
$729,480,391

 

Liabilities

Total liabilities
$442,133,782
Grants payable
48,387,660
Loans & bonds payable
372,580,049
Other liabilities
21,166,073
Net assets
287,346,611
Total liabilities & net assets
$729,480,393


Condensed Statement of Activities and Changes in Net Assets

Revenue

Contributions
$68,021,953
Equity in earnings of affiliates
15,199,537
Government contracts revenue, interest, investment income, fees and other
66,015,367
Total revenue
$149,236,857


Expenses

Program services
$112,769,771
Management & general
19,342,405
Fundraising
8,714,134
Total expenses
$140,826,310

 

Change in net assets before investments
$8,410,547
Realized & unrealized gains (losses) on investments & derivatives
(71,246)
Change in net assets
8,339,301
Net assets, beginning of year
279,007,310
Net Assets, end of year
287,346,611

 

The condensed financial statements of Local Initiatives Support Corporation (LISC) include the assets, liabilities, revenues of LISC Parent Only as well as its equity interest in the net assets of its controlled affiliates National Equity Fund, Inc. (NEF), New Markets Support Corporation (NMSC), The Retail Initiatives, Inc. (TRI) and Local Initiatives Managed Assets Corporation (LIMAC), LISC Louisiana Loan Fund (LLLF), LLC, Neighborhood Properties, LLC. These financials do not consolidate the affiliates nor the entities for which NEF serves as general partner of managing member of (as prescribed by FASB ASC 810-20). Copies of the audit reports and the complete financial statements will be available in the fall of 2018 upon request to Michael Hearne, CFO, LISC, 501 7th Avenue, 7th floor, New York, NY 10018.

 

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Top photo credit: Fran Dwight