Cornerstone Capital Group, a leading advisory firm for foundations, family offices, individuals, and other impact investors, has featured an article by LISC NYC Executive Director Sam Marks in their latest publication. The report, Creativity & The Arts: An Emerging Impact Investing Theme, explores investments in arts enterprises as a compelling strategy with financial and social returns.
The article, The Creativity Lens in Practice: LISC’s NYC Inclusive Creative Economy Fund, describes how LISC NYC has been applying a “creativity lens” to our core lending activities, which is having dynamic implications for our overall strategy, expanding our market niche as a provider of capital for arts and creativity and broadening our investor relationships. We have built a pipeline of loans to a range of new partners that are building and stewarding spaces for enterprises that provide middle-skill jobs supporting: affordable artist studios, spaces for artisans and light manufacturers, and cultural venues that enable creative endeavors that would otherwise not find space to work or perform in New York City.
Stay tuned for news of the formal launch of our NYC Inclusive Creative Economy Fund, developed in collaboration with Upstart Co-Lab, including the initial list of committed impact investors who are providing capital to LISC so we can invest in workspaces that foster 21st Century quality jobs for low- and moderate-income New Yorkers.