BY THE NUMBERS 2022
In 2022, LISC Toledo invested more than $4.4M to support small businesses, build and preserve affordable housing, redevelop community spaces, place residents in quality jobs, and increase wealth, particularly for families of color. To learn more about LISC’s model, click here.
$2.6M
in grants
$1.2M
in loans to develop affordable housing
$5M
leveraged
$580K
in loans to activate corridors and small business
FEATURED PROJECTS
“Our goal is to make sure that everyone has the opportunities that we all deserve.” --Shaulonda Jones, LISC Toledo Assistant Program Officer
New Program Spotlight: Small Business Community Navigator Pilot Program
In 2022, LISC Toledo received more than $600,000 from the US Small Business Administration through the Community Navigator Pilot Program (CNPP). The funds are being deployed to bolster the capacity of local “spokes” ASSETS Toledo, ECDI, Mercy Health Innovation, Small Business Development Center (SBDC) at the Toledo Chamber of Commerce, and Women of Toledo. The spokes provide 1-to-1 direct support, including technical assistance, to hundreds of local small business owners over the two-year grant period. This hyperlocal 1-to-1 support focuses on reducing barriers that socially and economically disadvantaged entrepreneurs often face in accessing critical resources available through existing SBA programs and our local business development ecosystem. LISC Toledo helps build the capacity of the network of spokes by providing technical assistance and training, managing the data tracking system, and elevating the collective work of the CNPP.
In 2022, through the CNPP, LISC Toledo:
- Provided $275,000 to boost capacity of trusted local organizations to provide 1-to-1 support to small business owners
- Assisted more than 700 small business owners, 57% of which are women and 65% people of color
- Secured over half a million dollars in loan funding for local small businesses
Economic Development
LISC supports economic development in Toledo by providing direct financing and technical assistance to support small businesses and invest in physical surroundings in our community. This sustains existing small businesses, attracts new ones, and plants the seeds for neighborhood investment. In 2022, LISC Toledo invested more than $1.8M in financing to support economic development projects and, together with our funded partners, assisted more than 1300 small businesses.
In 2022, LISC Toledo:
- Partnered with the Area Office on Aging, NeighborWorks Toledo Region, Lucas Metropolitan Housing, and Praxia Partners to support the redevelopment of the historic Thurgood Marshall Building in the Old North End. LISC expects to provide a $500,000 predevelopment loan in 2023 to further support the planned 86-unit senior housing project to move forward.
- Closed on a $450,000 predevelopment loan to support MBE and WBE ARK Development as they prepare to convert the former Masonic Temple building in East Toledo into 42 units of affordable senior housing. When complete, the project will feature onsite community amenities such as a gym and salon.
- Provided a $480,000 predevelopment loan for the 1301 Adams Street project, a historic preservation rehabilitation that, upon completion, will provide space for food-based nonprofit programming and serve as a second location for an expanding small business.
- Hosted the first Multicultural Twilight Market. The event was designed to provide opportunities for disadvantaged local small businesses to make sales and reach new customers, connect small businesses with free local business development resources, and celebrate our vibrant, diverse Toledo. Additionally, thanks to generous event sponsors, two small businesses received grants of $2,000 each. The event was a rousing success with 65 BIPOC and/or woman-owned small businesses participating and over 400 shoppers!
Housing
LISC works with partners to create & preserve affordable housing for low- and moderate-income families, to ensure Toledo families have healthy & safe places to live, and to support them as they build intergenerational wealth through homeownership.
In 2022, LISC Toledo—working with community-based partners—sold 45 YR 16 homes, transitioning 14 former renters of the properties to homeowners. New homeowners collectively were able to take advantage of $270,000 in down payment assistance and $120,000 grants for repairs and upgrades.
Seven Core City homes were completed and sold to families with an average annual household income of under $37,000. All buyers were either people of color or veterans.
Pictured to the left: Before and after of a Core City home in a LISC target neighborhood, which sold in June 2022 to a low-income family.
Family Income & Wealth Building
LISC supports programs that help Toledoans access good jobs, increase income, and build wealth to close the racial health, wealth, and opportunity gaps.
In 2022, Toledo Financial Opportunity Centers (FOCs) served a total of 2696 clients. 1,664 Volunteer Income Tax Assistance (VITA) clients received federal refunds totaling more than $1.6M.
Among FOC clients who met one-on-one with a financial coach and completed a subsequent financial assessment:
- 971 achieved at least one key financial outcome
- 296 increased their credit score by an average of 45 points
- 448 increased savings by an average of $2,600
- 561 increased net worth by an average of $11,220
- 585 increased monthly net income by an average of $1,400
Additionally, 161 Bridges to Career Opportunities (BCO) clients received a State-Tested Nurse’s Assistant (STNA) or Certified Production Worker (CPW) credential. The average starting hourly wage for BCO clients placed in jobs was $17.02.
To meet three FOC clients who have leveled up their career paths and learn their stories, view the full video here.
Community Engagement
LISC’s work is based on a community-driven model and aims to lift up the next generation of community development professionals and resident leaders.
In 2022, LISC Toledo AmeriCorps members served over 7000 hours in the community.
The AmeriCorps members engaged volunteers who, in turn, offered nearly 400 hours of service to their community.
LISC’s work is based on a community-driven model and aims to lift up the next generation of community development professionals and resident leaders.”
OUR FUNDERS
2022 Private Sector
The Andersons, Inc.
Anonymous
Block Communications, Inc
Buckeye Broadband
Citizens
Kim Cutcher
Economic and Community Development Institute
Fifth Third Bank
Fifth Third Foundation
FirstEnergy Foundation/Toledo Edison
General Motors
Clark Schaefer Hackett
The Huntington Foundation
Huntington National Bank
Jupmode
KeyBank Foundation
The Mannik & Smith Group, Inc.
Marshall & Melhorn, LLC
Martin + Wood Appraisal Group, Ltd
Mercy Health Partners
MetLife Foundation
Ohio Capital Corporation for Housing
Ohio Capital Impact Corporation
Owens Corning
Owens Corning Foundation
Tom & Susan Palmer
Peloton
PNC Bank
PNC Foundation
Premier Bank
Premier Bank Foundation
ProMedica Health System
Reichle Klein Group
Rudolph/Libbe, Inc.
Signature Bank, N.A.
KeyBank National Association Trustee for the Walter E. Terhune Memorial Fund
Therma-True Corporation
Toledo Mud Hens Baseball Club, Inc.
Toledo Museum of Art
Toledo Refining Company
Toledo Regional Chamber of Commerce
Turner Construction Foundation
United Way of Greater Toledo
Waterford Bank, NA
2022 Public Sector
Board of Lucas County Commissioners
Corporation for National and Community Service
Enterprise Community Partners, Inc.
Lucas County
Lucas Metropolitan Housing Authority
Toledo Lucas County Port Authority
U.S. Department of Housing and Urban Development
U.S. Small Business Administration
LOCAL ADVISORY BOARD
2022 Local Advisory Board
Joe Napoli (Chair) Toledo Mud Hens & Toledo Walleye
Joaquin Cintron-Vega (Vice-Chair) Lucas Metropolitan Housing
Meg Adams FirstEnergy
Rick Avery Owens Corning
Adrienne Bradley ProMedica
Jessica Ford Board of Lucas County Commissioners
Chris Fox Key Bank
Ndeda Letson Citizens Bank
Thomas J. Manahan, Jr. The Lathrop Company
Thomas W. Palmer Marshall & Melhorn
Rita Russell Huntington National Bank
Matt Sapara Mercy St. Vincent Medical Center
Reginald Temple Premier Bank
Rob Thomas PNC Bank
Keith Wilkowski Block Communications, Inc.