LISC has been named one of the ImpactAssets 50, a who’s-who of fund managers dedicated to creating positive social and environmental impact. LISC is one of seven community development financial institutions (CDFIs) that were selected for this year’s IA 50, reflecting the critical role CDFIs have played during the COVID-19 pandemic.
LISC named to ImpactAssets 50 list for sixth consecutive year
NEW YORK (Feb. 24, 2021)—The Local Initiatives Support Corporation (LISC) has been recognized as an ImpactAssets 50 (IA 50) fund manager for 2021. This marks the sixth consecutive year that LISC has been named to the IA 50, and the 10th year ImpactAssets has selected funds. Fund managers included on this year’s list manage an estimated $228 billion in assets devoted to creating positive social and environmental impact.
LISC is one of seven community development financial institutions (CDFIs) selected for this year’s IA 50, reflecting the critical role CDFIs have played during the Covid-19 pandemic. ImpactAssets took particular note of LISC’s $22 billion in community investments, its outstanding portfolio balance of $499 million, and its low delinquency rate of 0.48 percent.
As one of the country’s largest community development organizations, LISC leverages public, private and philanthropic capital to catalyze economic opportunity for people and communities. For example, through sustained investment in permanent supportive housing, LISC is financing efforts to end chronic homelessness, helping people access the housing and services they need to recover their health and independence.
IA 50 took note of a development in Los Angeles, where LISC provided a $1.5 million predevelopment loan to A Community of Friends so it could build 32 service-enriched apartments for individuals and families experiencing chronic homelessness. And it pointed to an effort in Virginia, where LISC provided a $500,000 working capital line of credit to Virginia Supportive Housing to support its mission to end homelessness through housing and supportive services.
“As impact investing continues its inexorable rise, it is critical to provide investors with a curated, objective evaluation of impact fund managers,” said Jennifer Kenning, CEO and co-founder of Align Impact who serves as an IA 50 senior investment advisor. “The IA 50 is built to filter out the noise that is growing louder in impact investing and help investors focus on deep, meaningful impact," she said.
IA 50 is an annually updated list providing investors and their financial advisors an easy resource to begin research on the impact investing sector. Focusing on private debt and equity, IA 50 is a free, centralized source of information on funds representing a wide range of impact investing activities across geographies, sectors and asset classes.
About LISC
With residents and partners, LISC forges resilient and inclusive communities of opportunity across America – great places to live, work, visit, do business and raise families. Since 1979, LISC has invested $22 billion to build or rehab more than 419,000 affordable homes and apartments and develop 70.3 million square feet of retail, community and educational space. For more, visit www.lisc.org.
About ImpactAssets
ImpactAssets is a nonprofit financial services firm that increases the flow of capital into investments delivering financial, social and environmental returns. ImpactAssets’ $1.4 billion Donor Advised Fund and field-building initiatives enable philanthropists, other asset owners and their wealth advisors to advance social or environmental change through impact investment and philanthropy.
