2023 Annual Report

INVESTING IN A FUTURE FOR US ALL

▶ Message From Leadership
▶ By the Numbers
▶ Our Impact Stories
▶ Our Funders
▶ Our Local Advisory Committee

MESSAGE FROM LEADERSHIP

LISC Rhode Island values its roles of investor, intermediary and convener to build resilient and inclusive communities of opportunity in Rhode Island. Part of fulfilling that role includes our Leadership Forums, where partners discuss questions that affect our work with members of State leadership who have insight into key issues. For last fall’s Leadership Forum we hosted David Cicilline, who had just celebrated his first 100 days at The Rhode Island Foundation after four terms as a U.S. Congressman. He spoke to a packed crowd about his agenda, the Foundation’s priorities, and how partnerships can help move our mission forward.

The shoulder-to-shoulder crowd represented partners working to improve affordable housing options, health equity, child care facilities, job opportunities, wealth equity, food security – all areas where LISC invests time and funding to create communities where people can thrive. The room was filled with state leaders, advocates, and non-profit leaders who are dedicated to improving the lives of residents.

The work can seem overwhelming, but taking stock of the progress is an important part of moving forward. Together, we’ve made progress on many fronts – from housing to workforce and entrepreneurial development, to improving and creating child care opportunities and advancing health equity.

The momentum in housing is clear, but there’s a long way to go. This year, there is a dramatically increased pipeline – made possible in part by grant funding to LISC from Blue Cross & Blue Shield of Rhode Island, Rhode Island Housing, the Rhode Island Foundation and others. This flexible resource had a catalytic effect that went beyond our expectations and allowed us to leverage larger national and federal tools to invest in Rhode Island. The results have been substantial. In the past 18 months, we have invested – or committed to invest -- $110M in the State – surpassing previous amounts by nearly four-fold.

There has been dramatic movement to improve the condition and availability of child care in Rhode Island. After a bond was passed in March 2021 to approve funding for child care facilities, LISC has provided high touch and high-quality technical assistance to child care providers and dispersed just under $15M in much needed resources. The positive effect will quickly be felt by parents, child care providers, and employers.

Workforce development initiatives and LISC’s Financial Opportunity Centers have greatly expanded their reach. LISC welcomed new partners like the Jane Addams Resource Corporation which is dedicated to training and identifying living wage career pathways. These vital providers currently do the hard one-to-one work to change lives and improve wealth equity. It’s important to take a minute to understand that having a good job is not only transformative for the individual, but also their family and their community.

And there’s been important progress made to advance health equity. The Health Equity Zone system is revolutionizing the way communities address health equity with positive results. Rhode Island is leading this movement to embrace place-based, resident-led initiatives and other communities are intrigued by the benefits. Rhode Island is leading the movement to embrace place-based, resident-led initiatives as a way of improving health equity and community engagement and is now being recognized by health departments nationally as a methodology for improving health outcomes.

LISC Rhode Island BY THE NUMBERS

Our investment numbers for 2023 are more than double our pre-pandemic level of work, and that same momentum is carrying us into 2024. In the past 12 months, LISC Rhode Island has invested $62.7M, and has commitments for an additional $47.5M.

This level of investment was catalyzed by seed funding from Blue Cross & Blue Shield of Rhode Island and supported by the Rhode Island Foundation, Rhode Island Housing and others, which provided the flexible funding that allowed us to tap National and Federal resources and bring that equity to our communities. It’s true that you can do more with more, and we’re grateful for their support.

In 2023:

$62.7M

invested

$287M

leveraged

units of affordable housing

hours of technical assistance

sq ft of community space

Since 1991:

$591.5M

invested

$2.1B

leveraged

units of affordable housing

2.2M

sq ft of community space

OUR IMPACT STORIES

Real Estate Investment

LISC invests more than $62M, with commitments to nearly double that amount.

Rhode Island is experiencing a housing crisis, as is the rest of the country. Ours is exacerbated by decades of disinvestment, ancient housing stock, and stagnant wages. Even so, we are also experiencing a bit of a boom.

This year, LISC shattered all previous records for investments in Rhode Island. As a result of local investment from Rhode Island corporations and foundations, LISC Rhode Island was able to leverage that funding to invest substantial LISC National resources including Low Income Housing Tax Credit financing, New Market Tax Credits, HUD section 4, and other funding tools that resulted in commitments totaling more than $110 million.

More than 1,300 new and rehabbed affordable housing units are in the pipeline. Highlights include a $38.7M investment for the new 176-unit permanent supportive housing project for Crossroads Rhode Island; $18.6M for 79 new rental and 4 homeownership units in the Joseph Caffey Apartments; $11.7M for 50 new units of senior housing in the West House II complex, $15.5M for the Millrace mill conversion in Woonsocket that will add 70 new units, and $3.8M for the Foster Forward/ONE Neighborhood Builders project in East Providence that will provide housing for children aging out of foster care. All these projects are critical, we are proud to be a part of them.

Rhode Island is struggling through the nationwide housing crisis, and while there is momentum building, we are doing our part to target funding and find solutions.

Early Learning and Child Care Facilities

All children deserve high-quality, developmentally appropriate learning environments that are designed to keep them safe, healthy, and support their physical, behavioral, and cognitive development. LISC continues to work to improve facilities, expand access, and provide specialized technical assistance and training for child care providers in Rhode Island, and there was significant work completed in 2023.

In the March 2021 special election, voters approved $15M for the Early Childhood Care and Education (ECCE) Capital Fund. Public support was strong, with nearly 67% voting to affirm the general obligation bond-funded grant program. LISC, in partnership with the State of Rhode Island Department of Human Services (DHS), accepted applications, provided specialized technical assistance, presented applications for review, and distributed funding to 21 child care providers at 24 facilities across the state.

While the bond will result in nearly 800 new child care slots, and the improvement of 716 more, additional resources are still needed. While the availability of high-quality child care is clearly a critical factor in a well-running economy, questions persisted around the scope of the actual need. After completing a robust Early Learning Facility Needs Assessment in 2014, and issuing updates in 2019 and 2022, the child care team worked with the Reinvestment Fund and DHS to exactly quantify the scope of the supply and demand for child care. The result of that work is the Early Care Capacity in Rhode Island Interactive Data Map which provides these answers and a granular, neighborhood-level analysis of the problem facing parents. This tool provides a “story map” by community, identifies gaps in access to high-quality early childhood education, and allows providers, stakeholders, advocates, and investors to better understand the existing landscape to make data-driven decisions on what to do next.

Workforce Development

Broad opportunity for upward mobility is a basic goal for most families. In Rhode Island, we are working to build ladders of opportunity through a layered network of programs that support workforce development growth at every level, and supporting that work through a range of touch points including: one-on-one financial and career coaching through our Financial Opportunity Centers®, workforce training and wrap-around supports through Bridges to Career Opportunities, entrepreneurial support through our work with a burgeoning coalition of Business Support Organizations (BSOs), and our administration — and expansion — of the SNAP Employment & Training program in partnership with the State.

The SNAP E&T program, a federally-funded reimbursement program that supports workforce development providers, adds critical operating funding for providers including Amos House, Genesis Center and others. Since the program started in Rhode Island in 2012, more than 15,000 Supplemental Nutritional Assistance Program (SNAP) participants have received job training, education and supports necessary to find and keep employment. In 2023, through this program alone, nearly $1.3 million in federal dollars was invested in Rhode Island’s workforce training programs, and more than 2000 participants received training.

Our workforce development partners at Genesis Center and Amos House are adapting their programs to meet the needs of their clients. As clients like Marissa Piccoli look for more entrepreneurial pathways and employers sought graduates with apprenticeship experience, the LISC FOCs have modified their pathways. Genesis Center has recently launched CHOP, a new culinary hub in Providence, where students who have graduated from their 8-week training program can go on to get in depth apprenticeship experience. This real life experience is the next step to ensure graduates are successful in their journey.

Thanks in part to funding from Citizens and Papitto Opportunity Connection, we are working with Business Service Organizations (BSOs) focused on supporting underserved and minority populations as they look to support entrepreneurs and small businesses looking to launch or scale their endeavors. LISC embedded an AmeriCorps member in several BSO partner organizations who was able to provide financial counseling to clients who were struggling to disentangle their personal finances from their entrepreneurial projects. This helped remove a critical bottleneck for many new entrepreneurs and set them on their way to financial stability. After two years working to build a coalition of aligned BSOs, LISC facilitated the launch of the Business Empowerment Alliance of Rhode Island in November. This BSO coalition will establish a warm referral network for clients and deliver a community of practice that will serve clients more efficiently and allow the organization to advocate for resources as one strong community of practice. LISC is working with the organization to build capacity, design programs and onboard to Salesforce to help them better support entrepreneurs and small businesses.

Health Equity

LISC has led the Pawtucket Central Falls Health Equity Zone (HEZ) since its creation nine years ago by the Rhode Island Department of Health, and it’s starting to get some national attention. This year, LISC was invited to apply for funding to participate in a CDC program and conference for the National Network of Public Health Institutes where ten community-based organizations from across the country shared key learnings from the pandemic. When LISC presented at the conference, it became evident that a place-based, resident-led approach to community health enabled the community to react quickly to a rapidly evolving crisis. The relationships had been built over years of work together. LISC created a website to share our key learnings, and provided a toolkit so other communities could take the same approach.

It wasn’t just through Covid that the HEZ methodology was changing lives. Through LISC’s work as the backbone entity of the PCF HEZ, the team developed a three-year program designed to address the high rates of overdose deaths and reduce the prevalence of opioid use. After just 12-months, the team began to see an encouraging and positive impact. In 2024, the Rhode Island Foundation is providing a grant to help further assess the trauma, identify barriers to recovery for first responders, and create a pathway for recovery.

LISC’s rich community work to address health equity has also caught the eye of the Smithsonian Museum. In the fall of 2024, LISC will display artifacts from one of its key activities from 2023. LISC managed a Participatory Budgeting initiative where residents were asked to decide how to spend $385,000 to improve their health. This pilot program created by the RI Dept. of Health and the RI Executive Offices of Health and Human Services, was created to ask residents for input on what they thought was needed in their community to improve their health. LISC hosted countless community meetings, information and planning sessions, worked with resident change-agents to develop the concepts and staged a week of community voting through voting machines loaned to us from the Secretary of State. The community put forth more than 800 ideas, developed 11 potential programs and voted to support a new splash pad and outdoor exercise equipment, and an anti-stigma campaign to promote mental health resources

OUR 2023 FUNDERS

Thank you to all the partners who make this work possible.”

Private Sector Support

Anonymous

BankNewport

Bank of America

BankRI

Robert & Susan Baxter

Blackstone Valley Community Health Care

Blue Cross & Blue Shield Rhode Island

Bristol County Savings Charitable Foundation

Citizens

Coastal1

Communities for People

Eastern Bank Foundation

Federal Reserve Bank of Boston

McGunagle Hentz, PC

Navigant Credit Union

Charlotte Orlowski-Eicher Memorial Fund

Papitto Opportunity Connection

Point32Health Foundation

The Rhode Island Foundation

Rhode Island Housing

Santander Bank, N.A.

Cheryl Senerchia

Julia Anne Slom

TD Bank

United Way of Rhode Island

The Wallace Foundation

The Washington Trust Charitable Foundation

Webster Bank

Public Sector Support

Care Transformation Collaborative of Rhode Island

Integra Community Care Network

National Network of Public Health Institutes

City of Providence

Rhode Island Department of Education

Rhode Island Department of Health

Rhode Island Department of Human Services

U.S. Department of Agriculture

U.S. Department of Housing and Urban Development

2023 LOCAL ADVISORY COMMITTEE

The LISC Local Advisory Committee (LAC) is the leadership body that guides local programming and is comprised of local leaders and community members who offer insight into the current needs and dynamics of their area of expertise. LAC members review investments, provide guidance on programs, policies and plans and support resource development efforts.

Local Advisory Committee

Joseph L. Silva (Chair) Executive Vice President Fidelity Bank

Angela B. Ankoma Community Leader Vice President and Executive Director Rhode Island Foundation/Equity Leadership Initiatives

Ricky Bogert Grant Programs Officer The Rhode Island Foundation/Grants & Community Investments

Nancy Smith Greer Community Leader, retired regional director of HUD

Bradford Latimer Senior Vice President, Credit Risk Consumer Banking Santander Bank

Khadija Lewis Khan Executive Director Beautiful Beginnings Child Care Center

Mary Leach EVP Chief Retail Banking and Lending Officer BankNewport

Kenneth F. McGunagle, Jr. Partner McGunagle Hentz, PC

Charles Newton Community Leader

Ana P. Novias, MA Deputy Director Executive Office of Health & Human Services State of Rhode Island

Colonel Oscar L. Perez Chief of Police, City of Providence Providence Police Department

Robert Sabel, Esquire Managing Attorney Rhode Island Legal Services, Inc.

Michael E. Smith Senior Vice President Webster Bank

Mary Thompson Senior Vice President Bank of America Merrill Lynch

Charles Van Vleet Assistant Treasurer & CIO Textron, Inc.

Carol Ventura Executive Director Rhode Island Housing

Learn more at lisc.org/rhode-island

f l i