- Who We Are
- What We Do
- Our Impact
NMSC bridges the gap between philanthropic and traditional lending and investing to build community assets and increase access to capital in underinvested communities. Over the past 15 years, we've invested more than $1 billion in communities across the country.
NMSC stands in solidarity with the Black community as we work to address the racial wealth gap through our impact investments and partnerships. Our CEO Kevin Boes shares his reflections on this moment, and our plans to contribute to this movement on the road ahead.
The federal CDFI Fund recently announced a new round of New Markets Tax Credit allocations, including a $50 million award to LISC to fuel economic development, health and jobs. "New Markets Tax Credits help us fill capital gaps for women- and minority-owned businesses, rural communities and communities of color that are working to overcome long histories of discrimination,” noted LISC President and CEO Maurice A. Jones.
The Community Development Financial Institutions (CDFI) Fund, part of the U.S. Treasury Department, announced the recipients of $3.5 billion in New Markets Tax Credit (NMTC) allocations for 2019. The awards include $60 million for LISC, which will be deployed through its subsidiary, the New Markets Support Company (NMSC). Since its inception, NMSC has harnessed $1 billion in tax credits to offer flexible capital for projects that benefit low-income communities across the country—projects ranging from Cincinnati’s CityLink Center, home to 15 social service agencies, to a health clinic-plus-grocery store in Brockton, Mass. to the public library in Petersburg, Va.