Like most Americans, our teams across the country spent much of 2020 grappling with the shock and grief of the pandemic. We approached our work with a clear focus on addressing socio-economic and racial disparities and we worried about the escalating impact of job loss and financial uncertainty. But we were also in a position to rapidly respond. Having spent four decades investing in the social and economic infrastructure of communities, LISC had the capacity to reach people whom the conventional financial market does not directly serve. Last year, our experience proved to be vital.
When corporations and philanthropies began looking for new, rapid ways to address the year’s challenges, they turned to LISC because we already had a well-tested capital distribution system in place. We already understood how to lend and invest in under-resourced communities and to help people recover from financial and climate disasters. We were already deeply engaged on issues related to equity, inclusion and economic opportunity.
As a result, LISC invested more than $2 billion in grants, loans and equity during 2020. We launched creative new initiatives, like Project 10X and the Black Economic Development Fund, both of which are deepening our efforts to address racial gaps in health, wealth and opportunity. We quadrupled our grantmaking, with support for both urban and rural communities, and we connected with new impact investors so we could expand LISC-managed community investment funds on behalf of our partners, as well as raise capital through our LISC Impact Notes. Click here to view the full report.