And we've got a lot to celebrate: $20 billion in total investments, record impact in 2018, a 20-year collaboration with the NFL Foundation, and the list goes on. At a gala event in New York City, LISC honors the indispensable work of our partner organizations and the two-decade service of our board chair, former Treasury Secretary Robert E. Rubin.
LISC is using a portion of its investable assets to reinforce its mission of catalyzing opportunity throughout the country. The strategy includes a new impact investment in SustainVC Impact Fund II, which finances enterprises that advance climate solutions, economic equality, health and education.
As we kick off 2019, LISC is continuing to grow its investments in economic opportunity and its on-the-ground presence in communities across the country. We unveiled a new program office in Charlotte this week that will spearhead $25 million in investments over the next few years—all designed to boost affordable housing, improve economic mobility and raise standards of living in North Carolina’s largest city. Long-time community leader Ralphine Caldwell has been named executive director to lead the effort.
LISC has been awarded $6.9 million by the U.S. Department of Education as part of the Credit Enhancement for Charter School Facilities Program. We will use this support to “expand access to capital and in many cases lower the cost of capital for schools. This in turn keeps scarce resources in the classroom, paying for great teachers, curriculum and other program supports,” said Sara Sorbello, LISC’s Vice President of Charter School Financing.
LISC will expand its efforts to bring critical health, education and community services to deeply impoverished rural areas with $20 million in new financing from the U.S. Department of Agriculture. The capital will support below-market loans for facilities like hospitals, libraries, schools and recreational centers, while driving much-needed jobs and economic opportunity to places often overlooked for investment.