MESSAGE FROM LEADERSHIP
///////// Thank you to everyone who worked with LISC Philadelphia in 2022 to create resilient and inclusive communities of opportunity – great places to live, work, do business and raise families.
Together we are pursuing racial equity through empowering residents and communities who have suffered decades of discrimination. Through expanding economic opportunity and increasing access to affordable housing, we are reinvesting resources in neighborhoods and people who have been deeply harmed by systemic policies and practices.
No single organization can tackle these issues alone. More than forty years ago, LISC opened the Philadelphia office to forge public-private partnerships to catalyze equitable community development. Thanks to active collaboration with thirty-four organizations and with the support of many more, in 2022 we continued to make progress toward our goal of building inclusive opportunities.
This report is a testament to the dedication and support of our staff, partners, donors, volunteers and most importantly of community residents and leaders throughout Philadelphia. As we reflect on the accomplishments of the past year, we are acutely aware of all that is still needed to correct injustices and rebuild strong communities.
Thank you again for your ongoing collaboration and shared belief in our mission. We look forward to continuing to partner with you on the challenging work ahead.
Sincerely,
Andrew Frishkoff Executive Director LISC Philadelphia
FEATURED PROJECTS
AFFORDABLE HOUSING
The Preservation Challenge Report
Supporting non-profit organizations to develop and preserve affordable housing is central to LISC Philadelphia’s mission. Since 2017, one of LISC’s local priorities has been capacity building and predevelopment investment to support non-profit affordable housing owners with preservation needs. Since 2019, LISC has also served as the convener of the Preservation Network, a collaborative work model of more than forty public, private, and non-profit organizations and agencies committed to preserving and protecting publicly assisted affordable rental properties in Philadelphia.
In August 2022, LISC released ‘The Preservation Challenge: Projections & Policies for Maintaining Non-Profit Affordable Rental Housing in Philadelphia.’ The report underscores Philadelphia’s affordable housing crisis and highlights the unique financial and organizational challenges that non-profit owners face in preserving publicly assisted affordable rental housing. Research was conducted in collaboration with Stone Sherick Consulting Group LLC and Wilson Associates, Inc.
Findings confirm there are 4,800 at-risk affordable housing units owned by non-profits, which will require almost $800 million in preservation funds over the next 15 years. Tackling this challenge requires significant public and private investment to ensure that this housing remains in place for current and future residents.
LISC Philadelphia is doing its part by investing in preservation. In 2022, we provided consulting, grants, and recoverable grants for planning and predevelopment to preserve 531 affordable rental units.
FINANCIAL OPPORTUNITY
The Latino Equitable Development Collective
In July 2022, LISC and six partners from The Latino Equitable Development Collective (LEDC) entered into year two of The Promise’s Family Stability Challenge– an initiative which aims to alleviate poverty for 100,000 Philadelphians through connections to critical benefits and services via place-based collaboratives. The LEDC serves residents in Eastern North Philadelphia; and our partners include Ceiba, Asociación Puertorriqueños en Marcha (APM), HACE CDC, Congreso de Latinos Unidos, Norris Square Community Alliance, and Esperanza. APM and HACE are also part of LISC’s Financial Opportunity Center network.
In 2022, the coalition connected 13,561 people to 21,670 public benefits and services, and helped to secure them over $2,275,928 in tax refunds. LISC has supported client outreach and service delivery from the start through the development of an interagency client referral tool using Airtable. Financial coaches and housing counselors from all 6 organizations began using the platform in spring 2022 to provide warm handoffs within the collaborative, effectively increasing the number of benefits and services that a client who walks through any agency door can receive.
Photo Credit: Sam Oberter for DIGSAU Architects
LENDING
Grand Opening of the Clay Studio
In April, The Clay Studio hosted the public grand opening of its new building. The new facility was financed by a $3,300,000 construction loan from LISC and Reinvestment Fund, which was leveraged into a $13.5 New Market Tax Credit transaction.
The Clay Studio was founded in 1974, and is rooted in the belief that shared creativity is a critical force for good. The new building in Eastern North Philadelphia is helping draw together even more students, artists, and the public into a welcoming community which offers high-quality art programs and exhibitions.
“Our new home is dedicated to serving artists in our community and our community with art. We enroll over 2400 students a year in ceramic classes, serve over 5800 area schoolchildren with clay lessons and after-school programs, and support over 70 local artists with studio space and equipment to create. We also provide free gallery exhibitions, weekly community workshops, and public events that attract 1000s of nearby neighbors.” –Jennifer Martin, Executive Director
BY THE NUMBERS 2022
Grants
We invested $1,344,625 in grants for community development corporations and other nonprofit organizations to support affordable housing, equitable neighborhoods, and community economic development.
Affordable Housing
- Rental Housing: In addition to preservation planning for 531 units, we provided pre-development funding for 71 new affordable rental units.
- Homeownership: With funding from LISC, Impact Services began the development of 8 affordable owner-occupied homes, and Strawberry Mansion CDC completed 5 historic home repairs for low-and moderate-income owners.
Equitable Neighborhoods
- Community Connectors: LISC and 5 community-based partners supported 27 Community Connectors.
Community Economic Development
- FOCs: 407 people accessed all three bundled FOC services including job training and placement, 1:1 financial coaching, and income supports.
- Business Development Organization (BDO) Network: With capacity building grants from LISC and support from the Verizon Small Business Digital Ready platform, five BDOs helped local entrepreneurs to develop and scale their businesses. More than 250 BDO clients benefitted from Verizon’s training tool.
- Commercial Corridors: LISC provided technical and financial assistance to 5 commercial corridor revitalization programs impacting over 130 small business owners.
OUR PARTNERS
Asociación Puertorriqueños en Marcha
Beech Community Services
Ceiba
Congreso de Latinos Unidos
District 1199C Training Fund
Education Culture Opportunities Foundation
First Step Staffing, Inc.
Gaudenzia Foundation Inc.
Germantown Housing Justice
Habitat for Humanity Philadelphia
HACE CDC
HopePHL
Impact Services Corporation
Jastech Development Services Inc.
Lancaster Avenue 21st Century Business Association
Liberty Housing Development Corp.
Make The World Better Foundation
Mill Creek Community Partnership
Mission First Housing Group Inc.
Mount Vernon Manor CDC
New Kensington CDC
Norris Square Community Alliance
North 5th Street Revitalization Project
Nueva Esperanza, Inc.
Philadelphia Association of Community Development Corporations
Philadelphia Chinatown Development Corporation
Southeast Asian Mutual Assistance Association Coalition
Strawberry Mansion CDC
The Business Center for Entrepreneurship & Social Enterprise
The Enterprise Center CDC
The Village of Arts and Humanities
The Welcoming Center
Women's Community Revitalization Project
Women's Opportunities Resource Center
OUR FUNDERS
2022 Private Sector
56th Street Fresh Grocer
Glenn & Sonya Atkinson
Bank of America
Bank of America Charitable Foundation
Capital One
Citizens
Aaron Graves
James Hartling
The Robert Wood Johnson Foundation
JPMorgan Chase & Co.
John S. and James L. Knight Foundation
Lincoln Financial Foundation
Macquarie Group Foundation
The Panaphil Foundation
The Pew Charitable Trusts
PNC Foundation
Progress Plaza Fresh Grocer
The Promise
S&P Global
Santander Bank, N.A.
State Farm
TD Charitable Foundation
Urban Institute
Verizon
Wells Fargo
William Penn Foundation
Together we are pursuing racial equity through empowering residents and communities who have suffered decades of discrimination.”
2022 Public Sector
City of Philadelphia
PA Department of Community & Economic Development
Pennsylvania Housing Finance Agency
U.S. Department of Housing and Urban Development
LOCAL ADVISORY BOARD
Paige Carlson-Heim (LISC Philadelphia Board Chair) Director, Office of Charitable and Community Giving TD Charitable Foundation
Jeremy Ben-Zev Market President Truist
Stephen Briggs Vice President, Sr. Community Development Officer Wells Fargo Bank, N.A.
Glenn Bryan Assistant Vice President of Community Relations University of Pennsylvania - Office of Government and Community Affairs
Monica Burch Senior Vice President - Market Manager | Community Development Banking PNC Bank
David Chick Senior Vice President – Business Banking Bank of America
Kevin Dow Executive Director Regional Foundation
Anne Fadullon Director of Planning & Development City of Philadelphia - Department of Planning and Development
Eva Gladstein Deputy Managing Director for Health & Human Services City of Philadelphia - Dept. of Health and Human Services
Will Gonzalez Executive Director Ceiba
Aaron Graves Managing Director – Equity, Debt & Structured Finance Cushman & Wakefield
James Hartling Partner Urban Partners
Michael Johns Managing Director Mdesigns + MWJ Consulting LLC
Lucy Kerman Senior Vice Provost for University and Community Partnerships Drexel University
Mitch Little Executive Director Mayor’s Office of Community Empowerment & Opportunity
Ellen Lissy Rosenberg Senior Associate, Community Partnerships Santander Bank
Rick Sauer Executive Director Philadelphia Association of Community Development Corporations (PACDC)
Dina Schlossberg Executive Director Regional Housing Legal Services
Theresa Singleton Senior Vice President and Community Affairs Officer Federal Reserve Bank of Philadelphia
Bill Smith (Retired) Citizens Bank
Alonzo South Senior Director of Community Engagement Children's Hospital of Philadelphia (CHOP)
Sharana Worsley Vice President, Market Manager & CRA Officer | EPA, NJ, DE - Community Development Citizens Bank
Learn more at lisc.org/philly
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All photos used in this report are credited to Daniel Jackson for Embassy: Interactive unless otherwise noted.