LOCAL INITIATIVES SUPPORT CORPORAT… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1979

Legal Domicile

Principal Officer

MICHAEL PUGH

Phone

2124559800

Tax Period

2023-01-01 to 2023-12-31

LOCAL INITIATIVES SUPPORT CORPORATION, founded in 1979, is a major nonprofit in the Community Improvement sector that reported $373.1M in total revenue in fiscal year 2023. Revenue surged 29% from the prior year, signaling strong growth momentum.

Mission

TOGETHER WITH RESIDENTS AND PARTNERS, LISC FORGES RESILIENT AND INCLUSIVE COMMUNITIES OF OPPORTUNITIES ACROSS AMERICA GREAT PLACES TO LIVE, WORK, VISIT, DO BUSINESS AND RAISE FAMILIES.WE CARRY OUT THIS MISSION BY,- PROVIDING ACCESS TO CAPITAL THROUGH OUR OWN INVESTMENTS AND THE MULTIPLIER EFFECTS THEY BRING.- CONNECTING PARTNERS TO RESOURCES AND EACH OTHER TO ADVANCE COMMUNITY-DRIVEN PRIORITIES.- DESIGNING AND IMPLEMENTING CREATIVE SOLUTIONS TO DRIVE SYSTEMS CHANGE.

Program Service Accomplishments

Program 1

Expenses: $129,844,357 Revenue: $67,740,273

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...

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.

Program 2

Expenses: $170,453,379

LISC PROVIDES GRANTS TO COMMUNITY BASED ORGANIZATIONS THROUGHOUT THE COUNTRY TO SUPPORT THEIR EFFORTS TO TRANSFORM DISTRESSED COMMUNITIES. IN 2023, LISC ISSUED 2,444 GRANTS THROUGHOUT THE COUNTRY TO SUPPORT THE DEVELOPMENT OF 2,675 UNITS OF AFFORDABLE HOMES AND APARTMENTS; 112,720 SQUARE FEET OF COMMERCIAL, COMMUNITY, AND EDUCATIONAL FACILITY SPACE; AND CAPACITY BUILDING, OPERATIONS, AND OTHER COMMUNITY DEVELOPMENT ACTIVITIES. LISC ALSO ISSUED 200 GRANTS TO SMALL BUSINESSES AND OTHER INSTITUTIONS THROUGHOUT THE COUNTRY FOR COVID-19 RELIEF.

Program 3

Expenses: $33,262,906 Revenue: $43,449,567

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-...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $252,201,918

Program Service Revenue $111,047,751

Investment Income $10,086,618

Other Revenue $-277,144

TOTAL REVENUE $373,059,143

Expense Breakdown

Grants Paid $170,453,379

Salaries & Benefits $102,630,968

Fundraising Expenses $10,206,637

Program Expenses $333,560,642

Other Expenses $99,553,683

TOTAL EXPENSES $372,765,330

Year-over-Year Comparison

	2023	2022	Change
Revenue	$373,059,143	$290,171,184	+0.3%
Expenses	$372,765,330	$283,041,132	+0.3%
Net Income	$293,813	$7,130,052	-1.0%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

877

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$14,531,299

Total Directors

$955,266

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ALISAHAH JACKSON MD	DIRECTOR	1.00	Director	$0	$0	$0
AUDREY CHOI	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES SMITH	DIRECTOR	1.00	Director	$0	$0	$0
COLVIN W GRANNUM	OUTGOING-DIRECTOR	1.00	Director	$0	$0	$0
CURTIS REED JR	DIRECTOR	1.00	Director	$0	$0	$0
DAVID HESS	DIRECTOR	1.00	Director	$0	$0	$0
ELLEN GILLIGAN	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY BELINFANTI	DIRECTOR	1.00	Director	$0	$0	$0
GREGORY FAIRCHILD	DIRECTOR	1.00	Director	$0	$0	$0
JERRY RICKETT	DIRECTOR	1.00	Director	$0	$0	$0
KAREN FANG	OUTGOING-DIRECTOR	1.00	Director	$0	$0	$0
KATHRYN E MERCHANT	DIRECTOR	1.00	Director	$0	$0	$0
LISA CASHIN	VICE CHAIR & DIRECTOR	1.00	Officer Director	$0	$0	$0
LISA GLOVER	OUTGOING-CEO/DIRECTOR	35.00	Officer Director	$682,537	$46,168	$728,705
LISA HASEGAWA	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL PUGH	CEO/DIRECTOR	33.00	Officer Director	$224,934	$1,627	$226,561
MICHELLE DE LA UZ	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE ARNABOLDI	DIRECTOR	1.00	Director	$0	$0	$0
NILDA RUIZ	DIRECTOR	1.00	Director	$0	$0	$0
REY RAMSEY	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD RAPSON	OUTGOING-DIRECTOR	1.00	Director	$0	$0	$0
ROBERT RUBIN	CHAIRMAN & DIRECTOR	1.00	Officer Director	$0	$0	$0
SALLY DURDAN	DIRECTOR	1.00	Director	$0	$0	$0
ZACHARY BOYERS	DIRECTOR	1.00	Director	$0	$0	$0
ADRIANA SANDOVAL	SVP/CFO BROADSTREET IMPACT SERVICES, LLC	35.00	Officer	$275,663	$48,292	$323,955
ALEXIS HAMILTON	OUTGOING CHIEF EXECUTIVE OFFICER-IMMITO	35.00	Officer	$160,200	$22,333	$182,533
ANNA ALEKSEYEVA	SVP	35.00	Officer	$229,763	$29,578	$259,341
BARBARA LIBOVE	SVP & DEPUTY CFO	35.00	Officer	$283,383	$68,282	$351,665
BEVERLY SMITH	VICE PRESIDENT	35.00	Officer	$220,714	$34,718	$255,432
CAITLIN CAIN	VICE PRESIDENT	35.00	Officer	$168,083	$27,949	$196,032
CELAYNE HILL	SVP & SECRETARY	35.00	Officer	$282,439	$43,190	$325,629
CHRISTINA TRAVERS	EVP/CFO	35.00	Officer	$399,597	$71,262	$470,859
COLLETTE WILLIAMS	VP & CONTROLLER	35.00	Officer	$257,198	$56,400	$313,598
CONSTANCE MAX	EXECUTIVE VICE PRESIDENT, LENDING	35.00	Officer	$353,697	$76,304	$430,001
COURTNEY BRANKER	VP & TREASURER	35.00	Officer	$233,510	$58,733	$292,243
DAVID GREENBERG	VICE PRESIDENT	35.00	Officer	$216,600	$63,438	$280,038
DENISE NOTICE-SCOTT	OUTGOING-PRESIDENT	35.00	Officer	$543,996	$48,650	$592,646
DIANA MARCELA PEREZ	OUTGOING-VICE PRESIDENT	35.00	Officer	$141,934	$36,476	$178,410
GEORGE ASHTON III	MANAGING DIRECTOR	35.00	Officer	$318,560	$70,808	$389,368
JESSICA HART	VICE PRESIDENT	35.00	Officer	$258,380	$67,797	$326,177
JOSEPH HORIYE	VICE PRESIDENT	35.00	Officer	$242,313	$64,167	$306,480
JULIA RYAN	OUTGOING-VICE PRESIDENT	30.00	Officer	$142,045	$32,164	$174,209
KENNETH PATRICK MAHER	SVP & SECRETARY	35.00	Officer	$283,662	$39,859	$323,521
KEVIN BOES	CEO - BROADSTREET	35.00	Officer	$584,167	$63,844	$648,011
KIMBERLY CUTCHER	VICE PRESIDENT	35.00	Officer	$170,880	$45,376	$216,256
KIMBERLY VANDENDADLE	CHIEF OPERATING OFFICER -IMMITO	35.00	Officer	$112,605	$12,022	$124,627
LAURA SHIVELY	CHIEF CREDIT OFFICER -IMMITO	35.00	Officer	$135,577	$17,452	$153,029
MADELINE FRASER COOK	SVP	35.00	Officer	$232,434	$59,847	$292,281
MANPREET MANGAT	VICE PRESIDENT	35.00	Officer	$211,677	$61,065	$272,742
MATTHEW JOSEPHS	SVP	35.00	Officer	$305,842	$70,514	$376,356
MICHAEL SKREBUTENAS	SVP	35.00	Officer	$268,201	$71,863	$340,064
MICHAEL TANG	SVP	35.00	Officer	$274,373	$53,626	$327,999
MIKE HUMBERSTONE	VP & CHIEF INFORMATION OFFICER	35.00	Officer	$262,505	$51,918	$314,423
MIRANDA JONES	SVP	35.00	Officer	$261,199	$40,039	$301,238
MONICA RICHARDSON PRIDE	OUTGOING-VICE PRESIDENT	35.00	Officer	$134,012	$15,167	$149,179
PAUL SANTANNA	VICE PRESIDENT	35.00	Officer	$202,139	$37,440	$239,579
ROBERT COONEY	SVP/GENERAL COUNSEL	38.00	Officer	$359,759	$81,268	$441,027
SEUNG KIM	SVP	35.00	Officer	$254,076	$21,850	$275,926
SHAWN LUTHER	SVP, CHIEF CREDIT OFFICER	35.00	Officer	$265,482	$32,286	$297,768
STEVE HALL	VICE PRESIDENT	35.00	Officer	$224,630	$37,513	$262,143
STEVEN PETSOS	PRESIDENT - BROADSTREET	35.00	Officer	$489,053	$53,586	$542,639
TAHIRIH ZIEGLER	SVP	35.00	Officer	$276,257	$52,999	$329,256
TIFFANY ROYSTER	VICE PRESIDENT	35.00	Officer	$205,603	$31,651	$237,254
TODD OVERLEY	CHIEF DEVELOPMENT OFFICER-IMMITO	35.00	Officer	$141,337	$13,552	$154,889
TYLER RUBIN	VICE PRESIDENT	35.00	Officer	$153,122	$38,868	$191,990
VANESSA RYAN	VICE PRESIDENT	35.00	Officer	$190,460	$61,216	$251,676
VUSLAT EKSI	VICE PRESIDENT	35.00	Officer	$215,361	$65,997	$281,358
WILLIAM TAFT	SVP	35.00	Officer	$250,232	$51,431	$301,663
YVONNE TOU NOLAN	VICE PRESIDENT	35.00	Officer	$216,380	$64,143	$280,523
CINDY WU	SENIOR EXECUTIVE DIRECTOR	35.00	Highest	$239,584	$74,060	$313,644
JANE FERRARA	EXECUTIVE DIRECTOR	35.00	Highest	$209,659	$61,227	$270,886
JEANNE COLA	SENIOR EXECUTIVE DIRECTOR	35.00	Highest	$224,014	$50,502	$274,516
MEGHAN HARTE	SENIOR EXECUTIVE DIRECTOR	35.00	Highest	$273,266	$33,600	$306,866
VALERIE WHITE	SENIOR EXECUTIVE DIRECTOR	22.00	Highest	$257,123	$45,413	$302,536

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$373,059,143	$372,765,330	$1,515,989,183	$293,813
2022	$290,171,184	$283,041,132	$1,383,146,715	$7,130,052
2021	$344,179,991	$266,638,991	$1,254,868,497	$77,541,000
2020	$462,416,393	$374,235,242	$1,164,391,357	$88,181,151
2019	$202,088,773	$162,597,627	$971,499,905	$39,491,146
2018	$191,708,914	$155,373,050	$821,836,491	$36,335,864

LOCAL INITIATIVES SUPPORT CORPORATION