Location: Philadelphia, PA
The mission at Philadelphia Local Initiatives Support Corporation (LISC) is to help community residents revitalize their neighborhoods. Over the last four years, LISC has made investments totaling $120 million in Philadelphia to support community partners. The nonprofit serves as a lender and investor, and executive director Andrew Frishkoff says it is always seeking ways to increase social ROI. Last year, LISC’s investments led to 290 new or repaired homes for low-income residents, and helped 200 residents find new jobs. As a community development financial institution, LISC can accept grants, loans and impact investments. By maintaining diverse sources of funding, the nonprofit has avoided dependence on any single source.
Quick Tip: “Learn from mentors and make sure that you have a chance to work under and learn from somebody you admire.”
Frishkoff says one of LISC’s greatest sources of excellence is its “committed, mission-driven staff. “One of the smart things I did was create a new position of deputy director, who serves as our chief program officer and our chief driver towards excellence,” says Frishkoff. “While I’m out there raising the money and setting the vision and the strategy, I have a partner who is making sure that we execute and that we execute with passion, as well as with effectiveness.”