LISC National


 

Since 1979
 

 


In 2018

 


All Time

400,500

affordable homes
and apartments

66.8 million

sq. ft. of commercial
 and community space

80,000

children served each year
by 212 schools

23,883

children served each year by
227 early childhood centers

391

fields serving 661,560 kids

90

Financial Opportunity Centers

98

healthy food projects, including 
grocery stores and farmers markets

90

health projects, including
healthcare centers

32

theaters and performance spaces

100s

of other retail, arts, and community projects
 


 

Total Net Assets, Past 10 Years


(in millions)

 


 

As of December 31, 2018

Condensed Statement of Financial Position


 

Assets

Cash & Investments
$248,897,826
Contributions receivable
46,636,210
Loans to CDCs & affiliates, net
406,381,694
Investment in affiliates
79,957,417
Other assets
38,233,116
Total assets
$820,106,263

 

Liabilities

Total liabilities
$497,052,324
Grants payable
34,994,660
Loans & bonds payable
437,758,998
Other liabilities
24,298,666
Net assets
323,053,939
Total liabilities & net assets
$820,106,263


Condensed Statement of Activities and Changes in Net Assets


 

Revenue

Contributions
$97,247,236
Equity in earnings of affiliates
16,449,062
Government contracts revenue, interest, investment income, fees, and other
70,610,040
Total revenue
$184,306,338


Expenses

Program services
$117,159,185
Management & general
24,481,311
Fundraising
6,297,761
Total expenses
$147,938,257

 

Change in net assets before investments
$36,368,081
Realized & unrealized gains (losses) on investments & derivatives
(720,557)
Change in net assets
35,647,524
Net assets, beginning of year
287,406,415
Net assets, end of year
323,053,939

 

The condensed financial statements of Local Initiatives Support Corporation (LISC) include the assets, liabilities, and 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 Initiative, Inc. (TRI), Local Initiatives Managed Assets Corporation (LIMAC), LISC Louisiana Loan Fund. LLC (LLLF), 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 are available upon request to Michael Hearne, CFO, LISC, 501 Seventh Avenue, 7th floor, New York, NY 10018.

 

 

Meet Our Funders  

 

 

Photo Credit: Babe Sarver of Babe’s Photos