2023 BY THE NUMBERS
In 2023, LISC Toledo invested more than $1.4M 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. LISC Toledo’s 2023 investment included:
$1.4M
invested
to support the Financial Opportunity Center® Network
to bolster Toledo's small business ecosystem
to provide healthy, affordable housing
OUR IMPACT STORIES
Economic Development
LISC supports economic development in Toledo by providing direct financing and technical assistance to support small businesses and invest in our community. This sustains existing small businesses, attracts new ones, and plants the seeds for neighborhood investment. In 2023, LISC Toledo invested more than $470,000 to support local small businesses, leading to an additional $1.1M investment from our funded partners. LISC and those partners together assisted more than 750 small businesses.
In 2023, LISC Toledo:
- Hosted an innovative “meet the lender” event to connect some three dozen entrepreneurs of color in the Junction neighborhood with one-on-one organizations offering nontraditional financing to support and grow their businesses. Four attendees received microgrants of $2,500 each, and 100% of post-event survey respondents said they’d recommend the event to a friend.
- Provided more than $450,000 to boost capacity of trusted local organizations to provide 1-to-1 support to small business owners.
- With funded partners, assisted more than 700 small business owners, 75% of which are women and 86% people of color, and secured over a million dollars in grant and loan funding for local small businesses.
Housing
LISC works with partners to create & preserve affordable housing for low- and moderate-income families to ensure Toledo families have safe & healthy places to live. We also support Toledo families as they build intergenerational wealth through homeownership.
In 2023: LISC Toledo—working with community-based partners—sold 21 YR 16 homes (single-family homes formerly developed with tax credit financing) to local families. Eighteen new homeowners were able to take advantage of a total of $135,000 in grants for repairs and upgrades. Five homeowners received down payment assistance.
Six Core City homes were completed and sold to families with an average annual household income of approximately $44,000. All buyers were either people of color or veterans.
Since the start of the Core City program in 2018, a total of thirty-six homes have been sold. Nearly 80 percent of buyers were people of color, and the average household income was 70% of AMI, indicating that the program is providing healthy, affordable homeownership opportunities to underserved families.
To learn more about the Core City program and hear new homeowners’ stories, view the full video here.
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. By utilizing the free Volunteer Income Tax Assistance (VITA) program, 1550 clients received federal refunds totaling more than $1.8M.
In 2023: Toledo Financial Opportunity Centers (FOCs) served a total of 2353 clients. Among FOC clients who met one-on-one with a financial coach and completed a subsequent financial assessment:
- 877 achieved at least one key financial outcome
- 333 increased their credit score by an average of 45 points
- 322 increased savings by an average of $1,960
- 454 increased net worth by an average of $9,650
- 366 increased monthly net income by an average of $1,711
Additionally, 125 Bridges to Career Opportunities (BCO) clients who received a State-Tested Nurse’s Assistant (STNA) or Certified Production Worker (CPW) credential were placed in jobs. The average starting hourly wage for these workers was $17.50.
New in 2023, the Pathway FOC partnered with Ternion Training and Education Centers (TTEC) to offer phlebotomy certification training for interested clients. A total of 29 students graduated from the program in the first two cohorts in October and November 2023.
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 2023 LISC Toledo AmeriCorps members recruited 394 volunteers, the most since we started tracking the metric.
The volunteers in turn offered nearly 600 hours of service to their community.
volunteers recruited in 2023
hours of service to the community
OUR 2023 FUNDERS
2023 Private Sector Support
The Andersons, Inc.
Anonymous
AREA Title Agency, Inc.
Buckeye Broadband
Citizens
Kim Cutcher
Enterprise Community Partners, Inc.
Fifth Third Bank
Fifth Third Foundation
FirstEnergy Foundation/Toledo Edison
General Motors
Greater Toledo Community Foundation
Kayla Goetz
Huntington
KeyBank Foundation
Thomas Manahan
Martin + Wood Appraisal Group, Ltd.
MetLife Foundation
Mercy Health - Toledo
National Equity Fund, Inc.
Ohio Capital Corporation for Housing
Owens Corning
Owens Corning Foundation
Tom & Susan Palmer
Peloton
PNC Foundation
Premier Bank
ProMedica Health System
Reichle Klein Group
Tonia Saunders
KeyBank National Association Trustee for the Walter E. Terhune Memorial Fund
Toledo Mud Hens Baseball Club, Inc.
Toledo Refining Company
Toledo Regional Chamber of Commerce
Turner Construction Foundation
United Way of Greater Toledo
Vistula Management Company
Waterford Bank, NA
Thank you to our 2023 supporters”
2023 Public Sector Support
Board of Lucas County Commissioners
Lucas County
Lucas County Department of Job & Family Services
Lucas Metropolitan Housing Authority
Toledo Lucas County Port Authority
U.S. Department of Housing and Urban Development
U.S. Small Business Administration
OUR TEAM
LISC Toledo Staff
Victor Alba Regional Preservation Director
Sarah Allan Deputy Director
Selena Coley Program Assistant
Sara Dastagir Assistant Program Officer
Del-Marcus Goolsby Assistant Program Officer
Thomas Kroma Executive Director
Local Advisory Committee
Joseph Napoli (Chair) Toledo Mud Hens and Toledo Walleye
Meg Adams FirstEnergy
Rick Avery Owens Corning
Adrienne Bradley ProMedica
Jessica Ford Board of Lucas County Commissioners
Chris Fox Key Bank
Ebonie Jackson Bank of America
Ndeda Letson Citizens Bank
Thomas J. Manahan, Jr. The Lathrop Company
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
Joaquin Cintron Vega Lucas Metropolitan Housing
Keith Wilkowski Block Communications, Inc.