Local Initiatives Support Corporation history

LISC made its first loans and grants to 27 community organizations in December 1980.

By 1985, LISC had raised $100 million and was active in 20 cities.

LISC was an early advocate for the Low-Income Housing Tax Credit (LIHTC), which created by the Reagan Administration in the Tax Reform Act of 1986.

In 1987, LISC launched the National Equity Fund (NEF) to syndicate LIHTC, raising $14.5 million in the first year.

Although LIHTC was initially created as a temporary measure set to expire by 1989, its effectiveness prompted LISC and other organizations to advocate for its extension.

In 1993, Congress granted LIHTC permanent status.

In 1995 LISC launched Rural LISC, expanding beyond urban areas in an effort to spur rural economic and housing development.

In 1997 LISC partnered with the NFL to create and refurbish playing fields in low-income urban areas.

In 2007, under the leadership of CEO Michael Rubinger, LISC created a comprehensive community development strategy called Building Sustainable Communities (BSC), which featured five place-based goals.

LISC partners with the NFL in the "Grassroots" program, which has built or rehabilitated 269 youth and community football fields nationwide In 2012, LISC launched the "Healthy Futures Fund" to create affordable housing units linked with health care and social services.

In 2016, former Virginia Secretary of Commerce Maurice A. Jones became LISC's fourth CEO. Under Jones' tenure, LISC began to focus resources on impact investing in an effort to attract private investors from diverse sectors to community development.

In 2018, LISC helped create the first impact investing funds focused on the creative economy.