Last week, the Local Initiatives Support Corporation announced $17million in new funding from the United States federal government. The funds support LISC’s comprehensive approach to making life better for people in hard-hit neighborhoods by bringing better health, stronger schools, new businesses, and good jobs to low-income communities.
Here’s what’s being funded:
- $8.4 million from the Social Innovation Fund will help struggling families who use our Financial Opportunity Centers in 19 cities to find jobs, increase their income and get out from under debt.
- $5 million from the Department of Education will help make sure low-income kids aren’t consigned to schools that are failing and falling apart. It will help expand the number of high-quality public charter schools and attract private capital to build such schools.
- $3.5 million from the CDFI Fund will help us put grocery stores in food deserts and help cash-strapped charter schools make ends meet.
Established in 1979 by the Ford Foundation, LISC has 30 urban and rural offices throughout the US dedicated to helping community residents transform distressed neighborhoods into healthy and sustainable communities of choice and opportunity — good places to work, do business and raise children. LISC mobilizes corporate, government and philanthropic support to provide local community development organizations with:
- loans, grants and equity investments
- local, statewide and national policy support
- technical and management assistance
In collaboration with local community development groups, LISC staff help identify priorities and challenges, delivering the most appropriate support to meet local needs. LISC is Building Sustainable Communities by achieving five goals:
- Expanding Investment in Housing and Other Real Estate
- Increasing Family Income and Wealth
- Stimulating Economic Development
- Improving Access to Quality Education
- Supporting Healthy Environments and Lifestyles