Financial Summary

Net Assets

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The condensed financial statements of Local Initiatives Support Corporation (LISC) include the assets, liabilities, revenues of LISC Parent Only as well as its equity interest in the net assets of its controlled affiliates National Equity Fund, Inc. (NEF), New Markets Support Corporation (NMSC), The Retail Initiatives, Inc. (TRI) and Local Initiatives Managed Assets Corporation (LIMAC), LISC Louisiana Loan Fund (LLLF), LLC, Columbia Pointe, LLC, , Neighborhood Properties, LLC, and LISC Cook County, LLC. These financials do not consolidate the affiliates nor the entities for which either NEF, NMSC or TRI serves as general partner of managing member of (as prescribed by EITF 04-05, Determining Whether a General Partner or the General Partners as a Group Controls a Limited Partnership or Similar Entity When the Limited Partners Have Certain Rights). Copies of the audit reports and the complete financial statements will be available in the fall of 2010 upon request to Tobin Levy, CFO at LISC, 501 Seventh Avenue, 7th floor, New York, NY 10018.

As of December 31, 2011

Condensed Statement of Financial Position


Cash and investments $ 181,913,362
Contributions receivable   22,785,195
Loans to community development corporations and affiliates, net   130,908,508
Investments in affiliates   49,478,246
Other assets   42,250,216
Total assets $ 427,335,527

Liabilities and Net Assets

Grants payable $ 22,892,187
Loans and bonds payable   196,695,455
Other liabilities   11,868,858
Total liabilities   231,456,500
Net assets   195,879,027
total liabilities and net assets $ 427,335,527

Condensed Statement of Activities and
Changes in Net Assets


Contributions $ 54,458,004
Equity in earnings of affiliates   27,338,230
Government contracts revenue, interest, investment income, fees and other   56,115,913
Total revenue $ 137,912,147


Program services $ 93,503,136
Management and general   10,850,696
Fundraising   6,830,370
Total expenses $ 111,184,202
Change in net assets before investments $ 26,727,945
Realized and unrealized gains (losses) on investments   (2,066,559)
Change in net assets   24,661,386
Net assets, beginning of year   171,217,641
Net assets, end of year $ 195,879,027