MESSAGE FROM LEADERSHIP
///////// 2022 was a strong year for Rural LISC. Our team and affiliates invested more than $142MM in direct financing to partner organizations, representing more than 61 projects in rural communities. Rural LISC partners and affiliates leveraged an additional $399MM, bringing the total development impact in 2022 to $541.6MM. Our collective impact supported a variety of rural community development projects.
We know that rural communities need a comprehensive approach to community development, one that includes technical assistance, capacity support, creative capital solutions and targeted programming through a layered approach. To achieve this, we expanded our workforce development efforts to incorporate pre-apprenticeships, apprenticeships, and targeted engagement with regional employers.
We ramped up our support for broadband deployment, as internet access is essential to 21st century workforce development. We successfully leveraged more than $40MM in new infrastructure that will serve 7,000 households with high-speed internet for the first time. Our Digital Connector program, meanwhile, measures the impact of digital skills gains, capturing the contributions of more than 55 organizations in 22 states that have added digital training to their direct service offerings.
Our comprehensive approach extended to housing, too, where we continued to invest in affordable homeownership projects while strengthening for affordable homeownership and rental opportunities in rural communities.
Rural LISC Comprehensive Community Development Approach
Additionally, our Financial Opportunity Centers (FOCs) and Business Development Organizations (BDOs), continued to address ongoing wealth disparities by providing technical assistance and resources to strengthen individual business acumen, financial literacy, savings, and lending opportunities.
Though Rural LISC has worked tirelessly to improve the conditions of rural communities, more targeted investment is needed. Rural LISC will continue to advocate for comprehensive solutions, including programs that better integrate technical assistance with creative capital and policy strategies that strengthen public-private partnerships and resource alignment.
We could not do our work without the generous support and engagement of our public and private philanthropic champions. The impact needle continues to move in rural communities because of the generosity of our major funders and partners. To all - a heartfelt thank you!
Sincerely,
Caitlin Cain Rural LISC Director and LISC Vice President
BY THE NUMBERS 2022
affordable housing units developed and/or preserved
jobs created and/or retained
sq.ft. of commercial, industrial & community facilities developed and/or in development
2022 Investment Highlights
Rural LISC and affiliates invested more than $142MM in direct financing to partner organizations, representing more than 61 projects in rural communities. Rural LISC partners and affiliates leveraged an additional $399MM, bringing the total development impact in 2022 to $541.6MM.
$4.8MM grants committed to 91 Non-Profits and 25 Small Business organizations, including:
- $440K Healthy Housing grants committed to 22 partner organizations
- $1.105MM Digital Connector program skills-promoting grants committed to 55 organizations that have served more than 3,100 individuals and families and distributed nearly 2,000 computers into rural homes to date
- $912K Rural Works & FOC grants to 21 organizations - Building Pathways to Quality Jobs and Financial Security in Rural America
- $1.207MM Business Development Organization grants to support small businesses technical assistance providers in rural communities
The Rural Promise
To fulfill our mission of catalyzing opportunity across the country, we launched the LISC Rural Promise – a commitment to elevate our impact in rural America to 20 percent of our total over the next three years. The Rural Promise will build on 25 years of LISC's investment in and partnership-building with rural people and places.
OUR PILLARS
Working with local partners and community stakeholders, Rural LISC supports resilient and inclusive communities as great places to live, work, and innovate. We achieve this through comprehensive, integrated strategies and programs focused on five priority pillars of investment: Creative Capital, Broadband + Infrastructure, Workforce + Small Business, Housing, and Disaster Solutions.
Broadband & Infrastructure
Rural LISC is the human infrastructure moving digital infrastructure forward. We work to bring local voices and help them engage with internet providers to strengthen community investment and build broadband plans that bring affordable, reliable high-speed internet access for all. We help communities achieve digital inclusion, increase computer access and adopt technology with confidence. All of this leads to gains in employment, health, education, financial well-being, social connections and more. Learn more about this work here [+]
2022 Impact:
- Our International Economic Development Council award-winning Affordable Housing Developers Broadband Handbook was was used for a pilot project with two Virginia-based nonprofit housersto address connectivity concerns
- Funded Digital Connectors in North Carolina, South Carolina, Tennessee and on Navajo land who have secured more than $1.6MM in funding to expand the digital skilling programs
- Rural LISC’s Broadband Pre-development Initiative leveraged close to $500,000 in funds to help under-resourced communities develop plans, partnerships and capital needed to access more than $40MM (to date) in state, federal and private capital for new broadband networks and related programs
Creative Capital
Through our Creative Capital pillar, Rural LISC provides grants and loans needed to support housing, community facilities, small businesses, and other community development projects across diverse rural communities. While working directly with our affiliates, Rural LISC is able to leverage low-income housing tax credits, new market tax credits and Small Business Administration lending for rural partners.
24 loans
$21 MM in Rural LISC loans and line of credit
$8.9 MM in New Market Support Company loans
$49,300
in Kiva micro-loans
$150,000
in recoverable grants
$3.8 MM in immito small business loans
Housing
Through our Housing pillar, Rural LISC helps ensure that our partners have the financial resources, knowledge, and technical assistance needed to create affordable housing that fosters a sense of pride, place, and livability. Learn more about this work here [+]
By the numbers:
- $2.2MMM in grants and loans
- $446.6M in total development
- 50 Housing Projects
- 2,342 housing units produced preserved
- $103.1MM in National Equity Funds investments in 8 projects
Healthy Housing Initiative
Developing and preserving safe, quality, affordable housing is a core component of Rural LISC’s community development strategy. Since 2015, Rural LISC has invested more than $3.8MM in healthy housing by providing 240 grants to 63 community-based partners across rural America. Through the Healthy Housing Initiative, Rural LISC helps partners incorporate healthy housing principals in their affordable housing projects and community development programs. In 2022:
- Healthy Housing grants awarded: 22
- Total grant dollars committed: $440,000
- Units supported: approximately 1,000
Capacity Building Grants (CBG)
Each year, Rural LISC works with more than 70 organizations to provide two-year grants and technical assistance to bolster organizational capacity to produce and preserve affordable housing units and achieve community impact. CBG recipients also get access to subject matter experts, training, networking and peer-learning opportunities. In 2022:
- CBG grants awarded: 30
- Total grant dollars committed: $1,073,000
- Units supported: 4,351
In addition, through technical assistance engagements with the U.S. Departments of the Treasury and Housing and Urban Development, the Rural LISC housing team supported two states, one rural county, and four tribal governments with the administration of their Emergency Rental Assistance Programs (ERAP).
In 2022, we were able to provide additional financial and technical assistance and training, including the launch of the ‘Raising the Roof: Rural Housing Webinar Series. Find the recorded videos here [+]
Garrett County Maryland Community Action Committee ribbon cutting for Chautauqua Park West, a 77-unit mixed-income housing development project, supported with predevelopment financing from Rural LISC.
Workforce + Small Business
Our Workforce Development & Small Business investments are carried out through three key programs: Rural Works, Financial Opportunity Centers, and the Rural Business Development Organization (BDO) Network.
Learn more about this work here [+]
Rural Works
- 16,535 clients served by rural workforce development programs
- 956 Clients Placed in Internships/Apprenticeships
- 2,495 Total Development Clients Placement
- $5MM in leveraged workforce funding for local communities
Rural Financial Opportunity Centers® (FOCs)
1,325 served with financial and employment coaching with an:
- an average net worth increase of $11,200
- an average increase of $4,200 in savings
Small Business/Business Development Organization Network
- 308 small businesses received customized disaster resiliency training through seven rural Business Development Organization partners.
- 415 small businesses received 950 hours of 1:1 coaching and $2M in capital access and grants through five rural SBA Community Navigator partners.
- 206 minority small businesses received 1:1 coaching through two U.S. Bank Rural Business Development Organization partners.
The Delta Apprenticeship Steering Committee, in the Mississippi Delta, is funded by Walton Family Foundation, the Delta Apprenticeship Steering Committee provides alignment across employers, educators, and public partners to build work-to-learn models for Delta employers and skill-seekers.
Disaster Solutions
Rural LISC’s Disaster Solutions pillar supports small and rural communities through consulting and training on economic recovery solutions after major natural and man-made disasters. Learn more about this work here [+]
2022 Impact:
- Capital One awarded funds to conduct an impacts and needs assessment for Louisiana post Hurricane Ida
- Rural LISC provided training and technical assistance to 8 Business Development Organizations supporting small businesses recovering from disasters with the support of a grant from Wells Fargo
- Supported local governments recovering from a disaster by providing technical assistance through HUD’s Distressed Cities Technical Assistance Program
OUR FUNDERS
FUNDER SPOTLIGHTS
Microsoft Provided operations funding to bring 55 trained Digital Connector organizations across 22 states under one umbrella.
Ascendium Education Philanthropy $240,000 provided for Rural Works implementation for state-level technical assistance support through Arkansas Community College to include 22 post-secondary institutions of higher learning.
USDA $750,000 funding as a key technical assistance partner under the Rural Partners Network. The Rural Partners Network (RPN) is a government program that helps rural communities find resources and funding to create jobs, build infrastructure, and support long-term economic stability on their own terms. Learn more [+]
Thank You to Our Donors, Funders and Rural LISC Champions
RURAL LISC SEMINAR 2022
Each year, Rural LISC organizes and presents a multi-day Seminar for Rural LISC Partners and stakeholders. The Seminar provides rural practitioners the opportunity to gather and share challenges, opportunities and emerging trends in the field. Watch the recordings below!
Learn more at lisc.org/rural