Local Initiatives Support Corporation
- Assets
- $1.3b
- Revenue
- $344.2m
- Investments
- $19.6m
- Employees
- 830
- Location
- New York, NY
- Founding
- 12/1980
- Data as of
- 12/2021
- EIN
- 13-3030229
Organization Overview
Local Initiatives Support Corporation is located in New York, NY. The organization was established in 1980. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Local Initiatives Support Corporation employed 830 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Local Initiatives Support Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Local Initiatives Support Corporation generated $344.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $266.6m during the year ending 12/2021. While expenses have increased by 6.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Local Initiatives Support Corporation has awarded 12,936 individual grants totaling $641,414,991. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.ASSISTS COMMUNITY STAKEHOLDERS IN URBAN AND RURAL AREAS ACROSS THE U.S. TO IMPROVE THE QUALITY OF LIFE FOR HISTORICALLY UNDERSERVED PEOPLE AND PLACES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROJECT DEVELOPMENT AND INVESTMENT. LISC PROVIDES TECHNICAL ASSISTANCE AND OTHER PROGRAM SERVICES TO COMMUNITY BASED ORGANIZATIONS THROUGHOUT THE COUNTRY TO ASSIST THEM IN TRANSFORMING THEIR COMMUNITIES INTO HEALTHY AND SUSTAINABLE COMMUNITIES OF CHOICE AND OPPORTUNITY, INCLUDING EFFORTS TO PROMOTE SAFER STREETS; HELP RESIDENTS ACHIEVE ECONOMIC STABILITY; IMPROVE HEALTH AND ENCOURAGE HEALTHY LIFESTYLES; AND INCENTIVIZE CHANGE THROUGH ARTS AND CULTURE. SEE SCHEDULE O FOR MORE INFORMATION.
LISC PROVIDES GRANTS TO COMMUNITY BASED ORGANIZATIONS THROUGHOUT THE COUNTRY TO SUPPORT THEIR EFFORTS TO TRANSFORM DISTRESSED COMMUNITIES. IN 2022, LISC ISSUED 2,280 GRANTS THROUGHOUT THE COUNTRY TO SUPPORT THE DEVELOPMENT OF 2,401 UNITS OF AFFORDABLE HOMES AND APARTMENTS; 395,145 SQUARE FEET OF COMMERCIAL, COMMUNITY, AND EDUCATIONAL FACILITY SPACE; AND CAPACITY BUILDING, OPERATIONS, AND OTHER COMMUNITY DEVELOPMENT ACTIVITIES. LISC ALSO ISSUED 496 GRANTS TO SMALL BUSINESSES THROUGHOUT THE COUNTRY.
LENDING. LISC PROVIDES LOANS, LINES OF CREDIT, AND OTHER RECOVERABLE FINANCING AT ALL STAGES OF DEVELOPMENT - FROM PREDEVELOPMENT TO PERMANENT - TO SUPPORT PROJECTS AND PROGRAMS THAT REVITALIZE LOW- AND MODERATE-INCOME COMMUNITIES AND BENEFIT LOW- AND MODERATE-INCOME INDIVIDUALS. SEE SCHEDULE O FOR MORE INFORMATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alisahah Jackson MD Director | Trustee | 1 | $0 |
Audrey Choi Director | Trustee | 1 | $0 |
Colvin W Grannum Director | Trustee | 1 | $0 |
Curtis Reed Director | Trustee | 1 | $0 |
David Hess Director | Trustee | 1 | $0 |
Ellen Gilligan Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Protiviti Inc Call Center Operations | 12/30/22 | $3,401,837 |
Tda Consulting Inc Project Implementation Management Srvc | 12/30/22 | $1,880,090 |
Urbanfootprint Inc Ati Program Service Provider | 12/30/22 | $666,460 |
Exodus Recovery Inc Ati Program Service Provider | 12/30/22 | $666,398 |
Special Services For Groups Inc Ati Program Service Provider | 12/30/22 | $3,930,702 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $6,790,000 |
| Membership dues | $0 |
| Fundraising events | $946,732 |
| Related organizations | $15,365,150 |
| Government grants | $49,481,669 |
| All other contributions, gifts, grants, and similar amounts not included above | $171,132,265 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $243,715,816 |
| Total Program Service Revenue | $99,122,869 |
| Investment income | $1,868,276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$62,744 |
| Net Gain/Loss on Asset Sales | $235,421 |
| Net Income from Fundraising Events | -$759,473 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $344,179,991 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $91,716,867 |
| Grants and other assistance to domestic individuals. | $24,537,638 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $10,620,424 |
| Compensation of current officers, directors, key employees. | $3,814,265 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $57,054,319 |
| Pension plan accruals and contributions | $2,689,319 |
| Other employee benefits | $13,896,431 |
| Payroll taxes | $4,038,219 |
| Fees for services: Management | $25,069,241 |
| Fees for services: Legal | $1,151,839 |
| Fees for services: Accounting | $408,119 |
| Fees for services: Lobbying | $96,000 |
| Fees for services: Fundraising | $56,545 |
| Fees for services: Investment Management | $752,730 |
| Fees for services: Other | $395,220 |
| Advertising and promotion | $179,047 |
| Office expenses | $3,498,124 |
| Information technology | $1,818,035 |
| Royalties | $0 |
| Occupancy | $6,483,747 |
| Travel | $243,424 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $275,759 |
| Interest | $14,131,608 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $851,276 |
| Insurance | $798,520 |
| All other expenses | $394,426 |
| Total functional expenses | $266,638,991 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,325,395 |
| Savings and temporary cash investments | $270,586,972 |
| Pledges and grants receivable | $51,417,231 |
| Accounts receivable, net | $21,422,121 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,187,667 |
| Net Land, buildings, and equipment | $4,982,362 |
| Investments—publicly traded securities | $154,247,390 |
| Investments—other securities | $19,621,643 |
| Investments—program-related | $541,072,627 |
| Intangible assets | $2,400,000 |
| Other assets | $162,605,089 |
| Total assets | $1,254,868,497 |
| Accounts payable and accrued expenses | $24,056,691 |
| Grants payable | $49,547,128 |
| Deferred revenue | $82,247 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $561,059,434 |
| Other liabilities | $74,114,119 |
| Total liabilities | $708,859,619 |
| Net assets without donor restrictions | $233,317,796 |
| Net assets with donor restrictions | $312,691,082 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,254,868,497 |
Grants Awarded
Over the last fiscal year, Local Initiatives Support Corporation has awarded $102,384,780 in support to 1,290 organizations.
| Grant Recipient | Amount |
|---|---|
101 EAST 161 STREET RESTAURANT CORP PURPOSE: SEE PART IV | $10,000 |
11TH STREET TAPHOUSE LLC PURPOSE: SEE PART IV | $35,000 |
1N10 INC PURPOSE: SEE PART IV | $119,785 |
207 WEST RESTAURANT CORPORATION PURPOSE: SEE PART IV | $10,000 |
219 HEALTH NETWORK INC PURPOSE: SEE PART IV | $23,342 |
28 MING'S CAFFE INC PURPOSE: SEE PART IV | $10,000 |