Denise Scott, an affordable housing and community development expert who has spent more than two decades at LISC, has announced that she will retire at the end of 2023. She will work closely with LISC's new CEO, Michael T. Pugh, until her departure to ensure a smooth leadership transition. Scott has made a deep and enduring impact on communities and the industry at large through her work with LISC, in her prior roles in New York City and federal government, and during her years serving on the board of the Federal Reserve Bank of New York.
NEW YORK (Oct. 12, 2023)—Denise Scott, President of the Local Initiatives Support Corporation (LISC), has announced her retirement after more than 20 years at the organization and four decades in community development. Scott joined LISC in 2001 and has held several positions, from LISC New York City Managing Director and Vice President of the New York Equity Fund, to Executive Vice President and then LISC President, a position that she has held since 2021. She will remain in her role through the end of the year, working closely with LISC’s new CEO, Michael T. Pugh, to help ensure a smooth leadership transition.
Scott has led LISC’s investment in 38 local offices in cities and rural communities across 49 states, with a special commitment to equipping local leaders with the resources and capacity they need to create equitable change. She is responsible for guiding the strategic direction of local offices and national programs and leading organization-wide initiatives like Project 10X, which aims to help close racial wealth and opportunity gaps.
“Not many people can come to work every day and know that they are making a real, positive impact on people’s lives. But at LISC, we’re doing just that. I am proud of our work to revitalize communities nationwide and advance the community development sector as a whole,” said Scott. “I have no doubt that LISC will continue to thrive and serve more and more people in the years to come.”
During Scott’s tenure, LISC invested as much as $2.7 billion annually and added seven new local offices in the South and midwestern U.S. She was instrumental in LISC’s response to the disproportionate impact of the COVID-19 pandemic in communities of color, in areas ranging from rent relief for residents and financial support to vulnerable small businesses to equitable vaccine distribution. She previously managed LISC’s flagship program in New York City for 12 years. During her tenure there, the office invested over $720 million in equity, loans, and grants, translating into the development of more than 10,000 units of affordable housing. Denise served on the Board of Directors of the Federal Bank of New York for more than six years, including two years as deputy chair and four years as chair.
“Denise’s commitment to advancing equity and inclusion through her work in community development is an inspiration to our entire organization,” said LISC CEO Michael T. Pugh.
“I thank Denise for her extraordinary career at LISC, during which she has led some of our most important work,” said former U.S. Treasury Secretary Robert E. Rubin, who has served as LISC board chair for more than two decades. “Because of her contributions, LISC is well positioned to advance its critical mission by promoting greater opportunity for all.
About LISC
LISC is one of the country’s largest community development organizations, helping forge vibrant, resilient communities across America. We work with residents and partners to close systemic gaps in health, wealth and opportunity and advance racial equity so that people and places can thrive. Since our founding in 1979, LISC has invested $29.7 billion to create more than 489,000 affordable homes and apartments, develop 81.4 million square feet of retail, community, and educational space and help tens of thousands of people find employment and improve their finances. For more, visit www.lisc.org.
FOR IMMEDIATE RELEASE:
October 12, 2023
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