Low Income Investment Fund
78% goes to programs $4 to raise $100 Strong reserves Growing revenue
Low Income Investment Fund is a 501(c)(3) organization based in San Francisco, California, registered in 1986, with $123,432,648 in FY2024 revenue. CharityIndex grades it A, and it directs about 78% of spending to programs.
49 Stevenson St Ste 300, San Francisco, CA, 94105 EIN 94-2952578 Since 1986
Revenue (FY2024)
$123.4M
▲ 39.8% vs prior year
Housing median: $408K
Expenses (FY2024)
$72.6M
Net assets
$217.2M
Employees
177
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 rating78% 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 Low Income Investment Fund: 78% to programs · $4 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating36 mo reserves · +41% 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 Low Income Investment Fund: 36 mo reserves · +41% 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 Low Income Investment Fund: 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 Low Income Investment Fund: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
See schedule oheadquartered in san francisco, with highly productive regional offices also in los angeles, new york, washington dc, and atlanta, liif supports organizations working to revitalize low- income neighborhoods throughout the united states. to strengthen communities , we deploycapital to support high- impact community development projects, including affordable housing, early care and education centers, and other facilities such as charter schools and federally qualified health centers.liif is creating and preserving housing options for individuals and families via capital solutions, programs and policy. since inception in 1984, liif has invested over $3.9 billion in communities, serving 2.6 million people. this represents 108,230+ affordable housing units thatwere created or preserved to create a lasting impact and address market economic uncertainties. success is measured based on economic impact data that accelerates the creation of communities of opportunity.
What they do
Other development services:see schedule o
Educational staff meetings liif has engaged with members of congress, federal agencies, and other public-sector leaders through structured educational briefings. these meetings feature concise, data-driven materialssuch as one-pagers illustrating liif's investments and the measurable impact of community development initiatives. in these meetings, liif advocates for robust funding of key programssuch as the cdfi fund, head start, and other hud initiativesas well as for policies that advance affordable housing and early care and education (ece). by translating complex policy issues into accessible insights, these engagements strengthen policymakers' understanding of the programs shaping their constituencies and position liif as a trusted, go-to resource for credible policy guidance.collective advocacy recognizing that systemic change requires collective action, liif actively collaborates with peer organizations and coalitions to advance shared advocacy goals. through joint policy statements, coordinated campaigns, and strategic partnerships, liif amplifies its influence and ensures that community investment priorities are heard across state and national platforms. this collective voice strengthens the policy ecosystem, aligning efforts to expand opportunity and long-term community impact. throughout october 2025, liif worked with partners to secure signatures from 105 members of congress on a bicameral letter to treasury secretary and omb director, reaffirming their support for the cdfi fund and urging the administration to carry out its statutory obligations. additionally, as the co-chair for the national children's facility network (ncfn), liif continues to host learning exchanges and provided resources for coalition members to keep members up to date and engaged on ece policy issues. this includes hosting monthly webinars, authoring policy updates, and providing materials for members to engage with their elected officials. legislative endorsements liif offered endorsements for key pieces of legislation, recognizing that public support from mission-driven organizations can play an important role in advancing policy priorities. these endorsements not only elevate liif's policy agenda but also help build momentum for legislative action that aligns with its mission to promote economic opportunity for communities. in september 2025, liif endorsed the bipartisan, child care modernization act. the bill will reauthorize the child care and development block grant (ccdbg) to help provide quality, affordable child care to america's working families. liif's ceo was quoted in sen. fischer's (r-ne) press release underscoring the importance of the critical role of federal investments in child care facilities.in august, liif endorsed the bipartisan, road to housing act of 2025. the bill includes provisions that will boost the nation's housing supply, improve housing affordability, and increase oversight and efficiency of federal regulators and housing programs. liif's ceo, dan nissenbaum, was quoted in chairman scott's press release noting liif's support for the bill's focus on leveraging public and private capital, plus fostering cross-sector collaboration to scale solutions that meet the urgency and complexity of the housing crisis.
Contact & location
- Address
- 49 Stevenson St Ste 300, San Francisco, CA, 94105
- City
- San Francisco
- State
- California
- Category
- Housing & Shelter
- Subcategory
- Housing Support Services
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $23.3M (FY2013) to $123.4M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $569.3MNet assets $217.2M
Operating margin
41.2%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$786.5M
Total liabilities
$569.3M
Net assets
$217.2M
Salaries & benefits
$29.1M
40% of expenses
Board members
15
13 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $123,432,648▲39.8% | $72,551,940▼11.3% | $217,216,634▲26.3% | $786,532,068▲1.4% | 990 |
| 2023 | $88,297,355▼18.2% | $81,808,063▼20.5% | $171,928,306▲9.9% | $775,773,301▲20.7% | 990 |
| 2022 | $107,952,700▲76.5% | $102,910,131▲89.4% | $156,374,115▼1.0% | $642,654,206▲11.1% | 990 |
| 2021 | $61,156,061▼28.3% | $54,325,184▼22.9% | $158,029,677▲4.2% | $578,280,279▼5.5% | 990 |
| 2020 | $85,259,103▲39.6% | $70,441,766▲48.6% | $151,702,361▲10.6% | $611,936,079▲6.2% | 990 |
| 2019 | $61,092,454▲12.4% | $47,402,752▲5.2% | $137,139,364▲11.3% | $576,150,842▲9.0% | 990 |
| 2018 | $54,341,148▲27.3% | $45,055,933▲20.5% | $123,199,389▲9.3% | $528,536,415▲7.6% | 990 |
| 2017 | $42,684,596▼3.5% | $37,400,826▲32.6% | $112,684,041▲4.7% | $491,367,021▲18.6% | 990 |
| 2016 | $44,237,742▲66.7% | $28,195,908▲9.2% | $107,622,191▲17.1% | $414,154,042▲15.6% | 990 |
| 2015 | $26,529,863▼13.6% | $25,815,508▲26.7% | $91,884,298▲0.7% | $358,377,832▲27.7% | 990 |
| 2014 | $30,695,151▲31.8% | $20,377,029▼0.5% | $91,253,050▲12.0% | $280,623,263▲8.3% | 990 |
| 2013 | $23,288,029 | $20,485,343▲44.3% | $81,485,862▲3.2% | $259,073,525▲32.5% | 990 |
| 2012 | — | $14,193,809▼16.2% | $78,964,850▲5.5% | $195,548,781▲1.4% | 990 |
| 2011 | — | $16,932,258▲25.8% | $74,883,568▲20.6% | $192,789,956▲16.0% | 990 |
| 2010 | — | $13,463,752▲8.4% | $62,116,294▲31.5% | $166,189,220▲25.6% | 990 |
| 2009 | — | $12,422,484 | $47,231,790 | $132,307,868 | 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: Daniel Nissenbaum — $626,756 (0.86% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Daniel Nissenbaum | Director & Ceo | 40 | $626,756 |
| Kimberly Latimer-nelligan | President | 40 | $430,622 |
| Panagiota Mahendru | Cfo & Evp | 40 | $383,049 |
| Denise Noel | Evp & General Counsel | 40 | $302,442 |
| Susan Hyman | Svp, Chief Credit Officer | 40 | $298,508 |
| Stephanie Mcfadden | Svp, Chief Lending Officer | 40 | $292,334 |
| Mary Garling | Svp, National Early Care Education | 40 | $282,204 |
| Rachel L Bluestein | Svp, Chief Program Officer | 40 | $280,461 |
| Tina Walker | Evp & Chief People Officer | 40 | $276,460 |
| Christina Shiwbalak | Vp, Operations | 40 | $273,158 |
| Maria Arellano Baglieri | Evp & Chief Strategy Officer | 40 | $180,363 |
| Calvin Gladney | Director | 1 | — |
| Carol Naughton | Director | 1 | — |
| David Fleming | Director | 1 | — |
| Dionne Nelson | Treasurer | 1 | — |
| Eileen Fitzgerald | Director | 1 | — |
| Erika Poethig | Director | 1 | — |
| Gloria Lee | Director | 1 | — |
| Jessica Sager | Vice Chair | 1 | — |
| Michael Solomon | Director | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Xantrion | Information System Service | $795,607 |
| Submittable | Grant Application Review Service | $469,148 |
| Rsm | Auditing Service | $428,575 |
| Innova Solutions Inc | Temporary Service | $378,874 |
| Novogradac & Company LLP | Auditing Service | $273,900 |
Grants received · $34.3M total
63 grants to Low Income Investment Fund totaling $34.3M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Community & human services | 2024 | $350,000 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2024 | $200,000 |
| The Community Foundation For Greater Atlanta Inc | Unknown | 2024 | $100,000 |
| Amalgamated Charitable Foundation Inc | General operating support | 2024 | $25,000 |
| The Blackbaud Giving Fund | General support | 2024 | $20,000 |
| Local Initiatives Support Corporation | See part iv | 2024 | $12,500 |
| Capital Impact Partners | For capacity building and business growth | 2023 | $3,599,333 |
| Opportunity Finance Network | Finance justice fund subgrant | 2023 | $200,000 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2023 | $200,000 |
| Orange County Community Foundation | Human services | 2023 | $90,000 |
| Child Care Aware of America | Child care system transformation | 2023 | $20,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Community & human services | 2022 | $4,056,050 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2022 | $700,000 |
| Tides Foundation | Equity, human rights, and economic empowerment | 2022 | $700,000 |
| Capital Impact Partners | To support operating costs related to the growing diverse housing developers program | 2022 | $619,000 |
Grants made · $12.1M in FY2024
53 grants totaling $12.1M in FY2024 — showing the 15 largest. All grants made by Low Income Investment Fund →
| Recipient | Purpose | Amount |
|---|---|---|
| Felton Institute | Renovation, repair & expansion | $3,000,000 |
| Frandelja Enrichment Childrens Program | New capital development | $1,700,000 |
| My Connect Community | Eqt grant | $750,000 |
| Southside Redevelopment Corporation | Eqt grant | $608,273 |
| Se Raleigh Promise Inc | Eqt grant | $490,472 |
| Growing Together | Eqt grant | $458,273 |
| Northside Development Corporation | Eqt grant | $423,866 |
| Banana Fana Preschool Inc | Renovation & repair | $300,000 |
| Guidry's Early Education Center | New capital development | $286,307 |
| One Fifty Parker Street School | Renovation & repair | $217,425 |
| Larca Enterprise - the Wiggle Room Child Development Center | Renovations & repair | $200,000 |
| Growing Together Preschool and Daycare LLC | Renovations & repair | $200,000 |
| Brinda Enterprises LLC - Star Montessori School & Daycare | Renovations & repair | $200,000 |
| Mariner Montessori LLC | Renovations & repair | $200,000 |
| Molo Hot LLC | Renovations & repair | $150,000 |
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Compare Low Income Investment Fund
Frequently asked questions
- Is Low Income Investment Fund a legitimate nonprofit?
- Yes. Low Income Investment Fund is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 94-2952578, based in San Francisco, California. Donations are tax-deductible.
- What is Low Income Investment Fund's EIN?
- Low Income Investment Fund's Employer Identification Number (EIN) is 94-2952578.
- How much revenue does Low Income Investment Fund report?
- Low Income Investment Fund reported $123,432,648 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Low Income Investment Fund's spending goes to programs?
- Low Income Investment Fund spends about 78% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Low Income Investment Fund have?
- CharityIndex grades Low Income Investment Fund A, based on program efficiency and fundraising cost.
- How much does Low Income Investment Fund's highest-paid employee make?
- The highest reported compensation on Low Income Investment Fund's latest Form 990 is $626,756, paid to Daniel Nissenbaum (Director & Ceo).
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Data for Low Income Investment Fund (EIN 94-2952578) 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.