LISC National
Who We Are


Annie Donovan, Executive Director (interim)

Annie Donovan is chief operating officer of Local Initiatives Support Corporation (LISC). Most recently, she served at Director of the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund). Prior positions include CEO of CoMetrics, Inc; Senior Policy Advisor to the White House from 2012-2013, working collaboratively with the Office of Social Innovation and the Council on Environmental Quality; and Chief Operating Officer of Capital Impact Partners, a certified CDFI. Donovan has been a Senior Fellow at the Center for Community Investment and is a current Fellow at the Beeck Center for Social Impact + Innovation at Georgetown University.

Donovan has been a thought leader and a board member of many of the highest performing organizations in the community development sector. She has published papers and articles for the National Academy for Public Administration, the Federal Reserve Bank of San Francisco, the Federal Reserve Bank of Boston, Forbes, the Skoll World Forum on Social Entrepreneurship, and the Milken Review. She has an undergraduate degree in Economics and an MBA in Finance.

Asha Rao, Senior Director of Investments

Asha Rao has recently joined BALISC as Director of Investments. She has several years of working in the CDFI industry as an investment manager with Wells Fargo previously, lending to and investing in CDFIs  nationwide. Prior to WF Asha worked at Standard and Poor’s in New York and at the Nasscom Foundation in New Delhi, India. She graduated with a BA from Emory University and an MBA from the Kellogg School of Management at Northwestern University. 

Laurel Engbretson, Program Officer

Laurel Engbretson is a Program Officer on the Bay Area LISC team. Laurel is responsible for project management, program management, and grants management for housing and economic development initiatives in the Bay Area. Prior to joining LISC, Laurel set up the San Francisco Housing Accelerator Fund's impact management system and evaluated the impact of the Fund’s investments on displacement in San Francisco. A Bay Area native and lifelong resident, Laurel graduated with her MBA/MPP from the Lorry I. Lokey School of Business and Public Policy at Mills College. She focused her studies on equitable development and impact finance, with internships at the JPMorgan Chase Foundation and the Oakland Mayor’s Office. Prior to graduate school, Laurel was a licensed realtor with Pacific Union. She earned her B.A. in Sociology from the University of California, Santa Cruz. Laurel serves on the board of HomeownershipSF as the chair of the Policy and Advocacy committee and is a mentor with the Oakland Promise. 

Shannon Sheets, Housing Underwriter

Shannon Sheets currently serves as LISC’s National Underwriter in Lending. Most recently, Ms. Sheets served as Vice President and Credit Manager for American Savings Bank in Honolulu, Hawaii. She managed the approval and portfolio management processes for Business Banking. Previously, she served as the Vice President and Underwriting Manager for Central Pacific Bank, where she also managed the approval and portfolio management of small business credits. Prior to joining Central Pacific Bank, she was a Project Manager with EAH Housing. In this role, she oversaw the development of multiple LIHTC projects. In addition, she worked as a Financial Analyst for National Church Residences in Columbus, Ohio, where she prepared both construction and operating budgets for LIHTC projects. She holds a B.S. degree in Finance from Millikin University in Decatur, Illinois. 

Rudy Licea, Program Assistant

Rudy Licea has a diverse background in both the education and media sectors. He was previously a Front Office Coordinator for Herrero/Boldt, where he managed all aspects of the front office for the much anticipated Sutter Van Ness Campus and medical building in San Francisco.  Prior to Herrero/Boldt, Rudy was a Senior Program Coordinator for Golden Gate University School of Law, heading a small team that oversaw the law schools exam process.  He also lead the schools accommodated exams program and language accommodation program.   Before moving to San Francisco, Rudy has worked in the media industry for over seventeen years in both New York and Los Angeles.