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Philadelphia LISC is one of 31 local offices of Local Initiatives Support Corporation (LISC), a national nonprofit community development organization and CDFI. Overall, LISC has invested $17.3 billion in neighborhoods and rural communities across the United States.
In Philadelphia, LISC is a catalyst for community change, working with partners on the ground to strengthen neighborhoods and improve the lives of residents. We combine corporate, government, and philanthropic resources and have invested more than $400 million (and leveraged $1.4 billion) in Philadelphia's neighborhoods to build or preserve more than 8,150 affordable homes and to develop more than 2 million square feet of retail, community and educational space since 1980. Our goal is to create neighborhoods of choice and opportunity, where every resident has a chance to thrive.
In an op-ed for Yahoo! Finance, LISC CEO Maurice A. Jones hit home the value of financial literacy as an essential skill on the path to financial wellbeing for all Americans—and to a healthy U.S. economy. Thinking back to his own childhood and the lessons in money management he absorbed working on his family’s farm, Jones calls for the public and private sectors to join forces and connect underserved youth to the kind of financial education that can make the American Dream a reality.
The KIPP Cooper Norcross Academy will install a new synthetic turf field at Lanning Square Middle School in Camden, N.J. thanks in part to a $250,000 grant from the Philadelphia Eagles and Philadelphia LISC through the National Football League Foundation Grassroots Program.
Helping Philadelphians find good job opportunities is a key component of Philadelphia LISC’s mission. To that end, in 2017 it provided a $1.2 million business loan to enable First Step Staffing to expand to Philadelphia. A nonprofit social enterprise based in Atlanta, First Step has a stellar track record in securing steady income for people transitioning out of homelessness, including veterans, people who have been incarcerated and others with significant barriers to employment.
LISC and State Farm expanded their long-time partnership this week with new funding to boost economic opportunities in 11 cities. "Millions of people are looking for opportunities to earn higher wages and build stronger futures for their families,” said Maurice Jones, LISC president and CEO. "Our partnership with State Farm is vital to advancing this important work.”
The Treasury Department’s CDFI Fund announced a new round of Capital Magnet Fund grants to spur an expected $3.2 billion in affordable housing and economic development. LISC will use its $7.5 million award—the largest in this round of funding—to seed $150 million in development activity in urban and rural communities.
Opportunity Zones are poised to attract significant capital for new housing, businesses and jobs in under-resourced communities. At CNN.com, LISC’s Maurice Jones and The Kresge Foundation’s Rip Rapson take a closer look at what investors should consider when evaluating high-impact projects, drawing on decades of community investing experience to identify what works to raise standards of living and drive economic growth.