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Rural LISC is proud to recognize PNC Bank for its ongoing support of rural community-based organization (CBO) partners. PNC has been a longtime Rural LISC supporter, helping to increase the capacity of 19 rural CBO partners in 17 states.
In 2017 alone, PNC invested more than $72.1 million in philanthropic initiatives across the country. Its goal is to increase philanthropic investments by $1 million annually.
“We are thrilled to recognize PNC for their ongoing support, which has been critical to our success,” said LISC Vice President and Rural LISC Director Suzanne Anarde. “It enables us to provide a high level of financial resources, technical assistance and training to 19 partners in 17 states, all of whom work to improve their communities through affordable housing, economic development, family income and wealth building, healthcare services and early childhood education programs.”
PNC Community Development Banking Executive Vice President Cathy Niederberger also spoke to the importance of this investment. “Community support is vital to PNC’s mission," she said. “We are only as strong as the communities we serve, and we have long-recognized that there is an imbalance in the resources available to communities in need, particularly those in outlying areas that are harder to reach. For that reason, we are proud to invest in Rural LISC and support the organizations and programs that benefit low income individuals and families.”
The PNC Foundation provides resources to seed ideas, foster development initiatives and encourage leadership in nonprofit organizations where imagination and determination are at work enhancing people’s lives. The Foundation’s priority is to form partnerships with CBOs in order to enhance educational opportunities, with an emphasis on early childhood education, and to promote the growth of communities through economic development initiatives.
The Foundation has several key focus areas:
PNC Bank serves urban and rural communities in 22 states. Results include:
Participation in PNC financial education programs
Value of loans and investments that support low- and
Microlending to small businesses
Small business loans
In 2017-18, Rural LISC provided more than $786,075 in financial resources to 19 partners in the PNC footprint, including grants for capacity building, Healthy Housing and Cohesive Economic Development projects in rural communities.
For example, in Pennsylvania, Fayette County Community Action Agency (FCCAA) received capacity building, Healthy Housing and Cohesive Economic Development grants totaling $63,500. With this support, FCCAA will: develop five affordable single family and multifamily housing projects; integrate Healthy Housing into their homebuyer education and financial counseling programs; and open its campus to underserved youth to experience a week of intensive art-based curriculum focusing on traditional crafting techniques of the Appalachian region as well as emerging craft forms.
PathStone was awarded more than $142,000 in capacity building grants and emergency assistance for Hurricane Maria relief and recovery efforts in Puerto Rico. PathStone will also continue to develop affordable housing projects for low- to moderate-income individuals and families. Specifically, PathStone developed Oxford Townhomes in Pennsylvania. This development represents the first new construction development in over ten years in the area, as well as the first post-recession for-sale development.
Additionally, Rural LISC added four new partners in Virginia and one in Wisconsin thanks to PNC’s support. In Virginia, Rural LISC welcomed:
In Wisconsin, Rural LISC added:
WHEDA serves the entire state of Wisconsin, including the PNC target counties of Milwaukee, Ozaukee, Walworth, Washington and Waukesha. In Virginia, People, Inc. serves Fauquier and Prince William counties in the PNC footprint.
PNC's support has been critical, enabling Rural LISC to leverage private and public investments to bring these five new partners into the Rural LISC network. Going forward, Rural LISC will provide them a high level of financial resources, technical assistance and training, enabling them to strengthen the rural communities in their service areas through their work in affordable housing, economic development, workforce development, health services, early childhood education and more.
Visit the PNC Bank website for more information.