Last week, when Citi Foundation named LISC NYC one of its inaugural “Community Progress Makers,” which comes with a $500,000 grant, we were thrilled, but not completely surprised. That’s because Citi has long been at the funding vanguard for programs that help low-income people access the marketplace, as with our Financial Opportunity Centers. LISC NYC will use the grant to deepen its work with nonprofits cultivating economic progress for impoverished New Yorkers.
Also see:
Citi Foundation's press release
LISC NYC Selected by Citi Foundation’s Community Progress Makers Fund Grant Program to Accelerate Economic Opportunity
New York City-based Community Progress Maker Joins Leading Nonprofit Organizations Across the United States to Address Urban Challenges Ranging from Affordable Housing to Environmental Sustainability and Infrastructure
NEW YORK CITY – MAY 18, 2016 – Local Initiatives Support Corporation New York City (LISC NYC) announced today that it has been selected as a recipient of the Community Progress Makers Fund, a $20 million grant initiative to support 40 visionary nonprofit organizations in their efforts to establish new approaches to long-standing urban economic challenges in the United States – including economic development, environment sustainability, urban infrastructure, and affordable housing.
As part of the program, LISC NYC will receive a core operating support grant of $500,000 over the course of two years to continue its work in the community around impact development, real estate projects that drive neighborhood economic development and are led by mission-oriented, neighborhood-based developers who seek to bring about social change that benefits lowincome residents. This new injection of funds will help bolster existing initiatives while opening up the door to support local programs to develop health care centers, grocery stores, business incubators, industrial “maker spaces,” community centers, arts and culture venues, and market spaces. In addition to the grant, LISC NYC will also have access to technical assistance from leading national researchers and experts and will be provided opportunities to connect with other grantees to share and learn best practices.
“We are grateful to the Citi Foundation for investing in LISC NYC to help us meet the growing challenges of a 21st century New York City,” said Sam Marks, LISC NYC’s Executive Director. “This grant will help us work with our community-based and government partners to develop critical neighborhood assets that will benefit low-income residents throughout New York City.” “The Citi Foundation feels privileged to support organizations that have demonstrated such strong commitments to their local communities and a willingness to share their experiences with others for the betterment of their neighborhoods,” said Brandee McHale, President of the Citi Foundation. “These organizations have a track record of implementing solutions that work for their communities because they know the people there, understand what resources to tap and, most importantly, feel deeply invested in the places where they live and work. We believe that’s the key to leading urban transformation efforts in New York City and elsewhere across the country.” The Community Progress Makers Fund builds upon the Citi Foundation’s commitment to identify and support innovative solutions and organizations that are helping build stronger, more resilient cities that are engines of economic opportunity for all. The flexibility of core operating support will allow organizations and their visionary leaders to deploy solutions that address a range of issues.
About Local Initiatives Support Corporation (LISC)
LISC combines corporate, government and philanthropic resources to help nonprofit community development corporations revitalize distressed neighborhoods. Since 1980, LISC has invested $12.9 billion to build or rehab 298,300 affordable homes and apartments and develop 49 million square feet of retail, community and educational space. For more information, visit www.lisc.org.
About the Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant cities. The Citi Foundation's "More than Philanthropy" approach leverages the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.