By Kathleen Keefe, Investor Relations & Portfolio Reporting Lead

In 2020, LISC Impact Notes pledged to support Project 10X and invest in racial equity. In the blog below Kathleen Keefe, LISC's Investor Relations and Portfolio Reporting Lead, shares the important projects Impact Notes has taken on to reach 10X goals.

By Christina Travers & Kathleen Keefe

In a new ImpactAlpha blog, Christina Travers and Kathleen Keefe discuss LISC’s recent experience in the capital markets and what it might signal about investor engagement with CDFIs. “Is this environment forcing investors to step back from community development finance? Or, are they willing to respond with “catalytic capital” that specifically meets this moment?”

With a new grant from Umpqua Bank, LISC is working with local organizations in three states to fuel equitable homeownership opportunities in low-to-moderate income communities, especially for people of color. "This kind of capacity-building support is like oxygen for nonprofits, and we are so grateful to Umpqua for recognizing the value of flexible funding for racial equity in homeownership,” said LISC President Denise Scott.

One in three Americans has a criminal record, many of which reflect dropped charges or fines their holders simply couldn't afford to pay. In Greenville, MS, where far too many people, especially Black residents, can't pursue their goals because of barriers created by their records, LISC and a coalition of partners launched an expungement program to help job- and education-seekers get those charges and fines dismissed. It's part of a movement to upend the criminalization of poverty and help people advance on the path to wellbeing and financial stability, in Greenville and beyond.

In its 18 months of existence, Project 10X, LISC’s high-octane initiative to help close racial wealth and opportunity gaps and invest in the wellbeing of Black people and communities, has already raised $663 million, more than 60 percent of its total 10-year goal of $1 billion. The money is being deployed in a range of innovative ways, and its impact is taking shape.

An update on how LISC is using MacKenzie Scott’s extraordinary gift to promote racial and economic equity.

A new $37.5 million initiative will empower and grow diverse small businesses that provide manufacturing and essential products for healthcare companies. The Abbott-LISC collaboration aims to break down systemic barriers to success, increase diversity, generate jobs and strengthen economies in underinvested communities.

LISC's Black Economic Development Fund has reached a milestone, committing $122 million in investments to African American developers, entrepreneurs and lenders. The money is fueling growth for African American-owned banks, businesses and anchor institutions, and leveraging further economic activity in the communities of color where loan recipients are building and expanding. Meet some of the developers, projects and communities turning this capital into economic and racial equity.

LISC’s Black Economic Development Fund (BEDF) has committed nearly half it’s $250 million in capital, with the remainder of the fund expected to be invested by the end of the year. “This fund is a powerful model for social investing…” said LISC’s George Ashton.

By Sarah Sturtevant, Deputy Director, LISC AmeriCorps

This week, March 13-19, is AmeriCorps Week 2022, and in recognition of members' service throughout the year, Sarah Sturtevant, deputy director of LISC's AmeriCorps program, turns a spotlight on the extraordinary contributions of members in the communities LISC works with. We're proud to partner with a number of members who won AmeriCorps Equity and Innovation Grant awards this past year. Read on for more about their work.