Local Initiatives Support Corporation
88% goes to programs $4 to raise $100 Strong reserves
Local Initiatives Support Corporation is a 501(c)(3) organization based in New York, New York, registered in 1980, with $363,857,494 in FY2024 revenue. CharityIndex grades it A, and it directs about 88% of spending to programs.
28 Liberty St 34th Fl, New York, NY, 10005 EIN 13-3030229 Since 1980
Revenue (FY2024)
$363.9M
▼ 2.5% vs prior year
Community median: $184K
Expenses (FY2024)
$344.5M
Net assets
$553.5M
Employees
987
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating88% to programs · $4 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Local Initiatives Support Corporation: 88% to programs · $4 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating19 mo reserves · +5% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Local Initiatives Support Corporation: 19 mo reserves · +5% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Local Initiatives Support Corporation: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Local Initiatives Support Corporation: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
See schedule o.assists community stakeholders in urban and rural areas across the united states to improve the quality of life for underserved people and places.
What they do
The organization provides grants to community based organizations, small businesses, for-profit emerging developers and others throughout the country to support their efforts to revitalize disinvested communities and/or benefit low-wealth individuals and families. in 2024, the organization issued 1,470 grants throughout the country to support the development of 2,325 units of affordable homes and apartments; 161,342 square feet of commercial, community, and educational facility space; income and wealth building opportunities for individuals and families living on low to moderate-incomes; and capacity building, operations, and other community development activities. the organization also issued 308 grants to small businesses and other institutions throughout the country.
Lending. the organization provides loans, lines of credit, and other recoverable financing at all stages of development - from predevelopment to permanent - to support projects and programs that revitalize disinvested communities and benefit individuals and families living on low to moderate incomes.
Contact & location
- Address
- 28 Liberty St 34th Fl, New York, NY, 10005
- City
- New York
- State
- New York
- Subcategory
- Community & Neighborhood Development
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $141.3M (FY2013) to $363.9M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.1BNet assets $553.5M
Operating margin
5.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.6B
Total liabilities
$1.1B
Net assets
$553.5M
Salaries & benefits
$107.4M
31% of expenses
Board members
21
19 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $363,857,494▼2.5% | $344,531,235▼7.6% | $553,485,369▲3.5% | $1,641,792,900▲8.3% | 990 |
| 2023 | $373,059,143▲28.6% | $372,765,330▲31.7% | $534,592,386▼2.5% | $1,515,989,183▲9.6% | 990 |
| 2022 | $290,171,184▼15.7% | $283,041,132▲6.2% | $548,496,340▲0.5% | $1,383,146,715▲10.2% | 990 |
| 2021 | $344,179,991▼25.6% | $266,638,991▼28.8% | $546,008,878▲14.9% | $1,254,868,497▲7.8% | 990 |
| 2020 | $462,416,393▲129% | $374,235,242▲130% | $475,288,771▲27.7% | $1,164,391,357▲19.9% | 990 |
| 2019 | $202,088,773▲5.4% | $162,597,627▲4.6% | $372,286,345▲15.2% | $971,499,905▲18.2% | 990 |
| 2018 | $191,708,914▲24.0% | $155,373,050▲6.4% | $323,285,335▲12.4% | $821,836,491▲12.2% | 990 |
| 2017 | $154,610,978▼22.3% | $146,056,292▼19.6% | $287,638,889▲3.0% | $732,361,177▲4.2% | 990 |
| 2016 | $199,080,812▲45.4% | $181,669,096▲49.5% | $279,239,784▲7.3% | $702,543,640▲31.8% | 990 |
| 2015 | $136,957,578▲1.1% | $121,483,767▼1.5% | $260,348,140▲6.0% | $532,851,753▲9.3% | 990 |
| 2014 | $135,485,688▼4.1% | $123,339,773▲1.3% | $245,623,572▲5.2% | $487,398,511▲9.3% | 990 |
| 2013 | $141,326,502 | $121,725,945▲18.3% | $233,415,685▲9.3% | $446,094,574▲3.9% | 990 |
| 2012 | — | $102,872,937▼16.4% | $213,631,993▲9.0% | $429,213,107▼2.5% | 990 |
| 2011 | — | $122,982,376▲10.9% | $196,075,751▲33.8% | $440,406,573▲12.5% | 990 |
| 2010 | — | $110,898,825 | $146,555,528 | $391,418,968 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Michael Pugh — $688,920 (0.20% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Michael Pugh | Director/ceo | 35 | $688,920 |
| Denise Notice-scott | Former President | 0 | $659,579 |
| Kevin Boes | Ceo - Broadstreet | 35 | $407,646 |
| Christina Travers | Evp/cfo | 35 | $402,343 |
| Robert Cooney | Svp/general Counsel | 38 | $370,806 |
| Steven Petsos | President - Broadstreet | 35 | $355,199 |
| Miranda Jones | Svp | 35 | $313,724 |
| Matthew Josephs | Svp | 35 | $313,635 |
| Kenneth Patrick Maher | Svp & Secretary | 35 | $299,366 |
| Shawn Luther | Svp, Chief Credit Officer | 35 | $296,201 |
| Celayne Hill | Svp & Secretary | 35 | $296,139 |
| Barbara Libove | Svp & Deputy Cfo | 35 | $284,498 |
| Tahirih Ziegler | Svp | 35 | $283,589 |
| Meghan K Harte | Senior Executive Director | 35 | $279,078 |
| Michael Skrebutenas | Svp | 35 | $278,585 |
| Adriana Sandoval | Cfo Broadstreet Impact Services, LLC | 35 | $275,469 |
| Mike Humberstone | Vp | 35 | $271,222 |
| Valerie White | Senior Executive Director | 22 | $267,967 |
| Collette Williams | Vp & Controller | 35 | $265,325 |
| Jessica Hart | Vp | 35 | $265,019 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Special Services For Groups Inc | Ati Program Service Provider | $5,594,012 |
| Planet Nutshell | Financial Management Consultant | $1,094,549 |
| Protiviti Inc | Erap Program Call Center Operations | $857,514 |
| Exodus Recovery Inc | Ati Program Service Provider | $852,789 |
| Tda Consulting Inc | Erap Program Implementation Mgt Service | $805,888 |
Grants received · $360.6M total
528 grants to Local Initiatives Support Corporation totaling $360.6M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| National Equity Fund Inc | Support community development | 2024 | $17,400,000 |
| National Football League Foundation | General support | 2024 | $3,450,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $2,521,942 |
| Greater Hartford Gives Foundation | General operating support | 2024 | $1,669,150 |
| American Online Giving Foundation Inc | General support | 2024 | $1,591,732 |
| The Rhode Island Community Foundation | Housing (primary) | 2024 | $1,278,675 |
| United Way of Greater Cincinnati | Supports uw mission | 2024 | $1,137,500 |
| Sentara Health | Lisc-sentara partnership | 2024 | $1,000,000 |
| Cleveland Foundation | Reestablishing the local initiatives support corporation cleveland office | 2024 | $1,000,000 |
| Rockefeller Philanthropy Advisors Inc | Education | 2024 | $995,000 |
| Greater Cincinnati Foundation | Programatic support | 2024 | $850,250 |
| Greater Cincinnati Foundation | Programatic support | 2024 | $850,250 |
| Silicon Valley Community Foundation | Community development | 2024 | $755,000 |
| National Urban League Inc | Direct grants to small businesses | 2024 | $700,000 |
| The Community Foundation Inc | Economic prosperity | 2024 | $550,000 |
Grants made · $102.8M in FY2024
1,119 grants totaling $102.8M in FY2024 — showing the 15 largest. All grants made by Local Initiatives Support Corporation →
| Recipient | Purpose | Amount |
|---|---|---|
| Habitat For Humanity International Inc | See part iv | $4,721,400 |
| Albany State University Foundation Inc | See part iv | $1,918,487 |
| Heart of the City Neighborhoods Inc | See part iv | $1,916,548 |
| Layton Boulevard West Neighbors Inc | See part iv | $1,892,500 |
| Clark Atlanta University Inc | See part iv | $1,890,983 |
| Onyx Architectural Services | See part iv | $1,450,000 |
| Miles College | See part iv | $1,085,286 |
| Savannah State College Foundation Inc | See part iv | $1,039,983 |
| Native American Connections Inc | See part iv | $1,002,000 |
| Simmons College of Kentucky Inc | See part iv | $950,500 |
| Flanner House of Indianapolis Inc | See part iv | $757,251 |
| Culturingua | See part iv | $722,250 |
| Housing Opportunities Made Equal of Virginia Inc | See part iv | $700,000 |
| Three Rivers Legal Services Inc | See part iv | $651,402 |
| Newport Young Mens Christian Association | See part iv | $630,000 |
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Frequently asked questions
- Is Local Initiatives Support Corporation a legitimate nonprofit?
- Yes. Local Initiatives Support Corporation is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 13-3030229, based in New York, New York. Donations are tax-deductible.
- What is Local Initiatives Support Corporation's EIN?
- Local Initiatives Support Corporation's Employer Identification Number (EIN) is 13-3030229.
- How much revenue does Local Initiatives Support Corporation report?
- Local Initiatives Support Corporation reported $363,857,494 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Local Initiatives Support Corporation's spending goes to programs?
- Local Initiatives Support Corporation spends about 88% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Local Initiatives Support Corporation have?
- CharityIndex grades Local Initiatives Support Corporation A, based on program efficiency and fundraising cost.
- How much does Local Initiatives Support Corporation's highest-paid employee make?
- The highest reported compensation on Local Initiatives Support Corporation's latest Form 990 is $688,920, paid to Michael Pugh (Director/ceo).
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Data for Local Initiatives Support Corporation (EIN 13-3030229) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.