LISC 2009 Annual Report

President’s Message

Robert E. Rubin, Chair, and Michael Rubinger, President & CEO

Michael Rubinger, President & CEO
Local Initiatives Support Corporation

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It’s certainly no secret that 2009 was a very challenging year for all of us economically, but especially so for the low-income communities where LISC works.

And yet, despite this, we continued to make significant progress rolling out our Building Sustainable Communities strategy. I believe now, more than ever, that this comprehensive approach is the right strategy, at the right time, and I think you will agree with me as you see, throughout this report, the outstanding progress being made in the communities where we work.

To further these efforts, last year we invested over $600 million in equity, loans, and grants through our nationwide network of local program offices. These funds not only supported the development of affordable housing, as we have for over 30 years, but also Financial Opportunity Centers that help many families find jobs, gain financial literacy, and access public benefits. We also financed schools, playing fields, arts and cultural facilities, safety programs, retail services and the other amenities that improve a community’s overall quality of life. Building Sustainable Communities is no longer just a plan or an idea. It’s working, everyday, to improve and strengthen urban and rural neighborhoods throughout the country.

And as always, we remain tremendously grateful to the institutions and individuals who have supported us so generously over the years, providing the resources that enable us to do our work.

Thank you all and I hope you enjoy our 2009 report.

Michael Rubinger, President & CEO

Michael Rubinger, President & CEO