Forging resilient communities of opportunity since 1990.
2024: A Year in Review LISC ANNUAL REPORT
For 35 years, LISC Virginia has been working alongside communities to create opportunities, build strong neighborhoods, and foster economic growth.”
Message from Leadership
Jane C. Ferrara, CCIM Executive Director
IN 2024, OUR WORK WAS GUIDED BY OUR MISSION to empower communities through strategic initiatives that drive economic resilience, expand access to resources, and improve the quality of life for residents across Virginia. From championing small business growth to building pathways for homeownership, we are proud to have collaborated with local organizations, community leaders, and corporate partners to achieve these milestones. On behalf of the communities we serve, THANK YOU! Join us in celebrating the successes of 2024!
By The Numbers
Since 1990, the collective efforts of LISC Virginia and its affiliates have resulted in:
$206M
invested
$793M
leveraged
6,910
affordable homes and apartments
1.1M
square feet of commercial and community space
What does this impact look like on the ground?
Our Impact Stories
Wealth Opportunities Realized Through Homeownership RVA (WORTH RVA) Reaches New Heights
With funding from Wells Fargo, LISC Virginia supports homeownership through our Wealth Opportunities Realized Through Homeownership RVA (WORTH RVA) initiative. WORTH RVA is a collaborative of housing service organizations formed to collectively create and preserve 5,000 homeowners in the Richmond-area by the end of 2026. The program supports families through access to homeownership education, housing counseling, Homebuyers Clubs for renters interested in homeownership, free legal services to resolve and prevent heirs property, and down payment assistance based on need.
As of year-end 2024, WORTH RVA has committed $4 million in strategic funding across Richmond’s housing ecosystem, providing resources to 2,200+ residents and creating 1,600+ new homeowners. With new partners joining us in 2025, we expect to see even greater results.
Empowering Local Developers through our Housing Developer Training Institute (HDTI)
In partnership with the Virginia Housing Authority and the City of Richmond, LISC Virginia hosted a Housing Developer Training Institute (HDTI) in Fall 2024. This program provided foundational education to early-career developers and project managers who have interests in affordable housing development.
There were 28 graduates! Participants from our first cohort came from diverse professional backgrounds, with developers from nonprofit organizations, local governments, and private companies. The relationships forged among participants during this 13-week program will have long lasting effects in years to come. LISC offices across the country have been a leader in training housing developers since 1988.
The HDTI Institute provided invaluable insights into the unique complexities of building affordable housing. The instructors and guest lecturers were highly knowledgeable and approachable, creating an open environment for questions and discussion. The connections I formed with my class cohort have been, and will continue to be, incredibly beneficial as I move forward”
JASON SNOOK DIRECTOR OF STRATEGY SUPPORTWORKS HOUSING
We support community resilience through our Financial Opportunity Center® (FOC) network
In 2024, LISC Virginia’s Financial Opportunity Center® (FOC) Network served 569 individuals across five sites, helping build financial stability through bundled services like financial coaching, employment support, and income benefits. Notably, 111 participants increased their net income — nearly doubling the prior year’s total — and the average income gain rose to $2,843.
FOC program sites also significantly expanded their housing support work, completing 182 baseline housing assessments, up from just 43 in 2023. We acknowledge the good work of our dedicated partners at Southside Community Development and Housing Corp, Humankind, the Neighborhood Resource Center, and Piedmont Housing Alliance.
LISC and City of Richmond Advance $100 Million Affordable Housing Investment
In response to former Richmond Mayor Levar Stoney’s 2023 housing crisis declaration, the City of Richmond committed up to $50 million over five years to develop and preserve affordable housing. LISC will match that investment through lending and other capital sources with an aggregated goal of $100 million. Together, LISC and the City are working together to create a community where everyone can afford to have a place to call home.
Our Funders
2024 Private Sector Support
Altria Group, Inc.
Atlantic Union Bank
Bank of America
Bon Secours Health System
Alexander Brady Foundation
Marco Callender
The Cameron Foundation
Capital One
Citizens Charitable Foundation
Michelle Cutter
J. Brian Guthrie
William Homiller
Chandra Hurst
InUnison
JPMorganChase
Mulvihill-Walsh Family Fund
Tammy Neale
Gerry Quindoza
R.E.B. Foundation
South State Bank
Allison Thomas Racial Justice Fund
Mr. & Mrs. James E. Ukrop
United Way of Greater Richmond & Petersburg
Virginia Housing
Wells Fargo
Woodforest National Ban
2024 Public Sector Support
Capital Area Partnership Uplifting People
County of Henrico
City of Richmond
U.S. Department of Housing and Urban Development
Virginia Department of Housing and Community Development
Virginia State University
With the unwavering support of our funders, LISC Virginia remains steadfast in its mission to address the multifaceted challenges faced by our community. Thank you to our supporters who make this work possible. Together, we are helping our communities thrive.”
Our Team
Our LAC helps to guide the organization, connect LISC Virginia with funding opportunities, and provide industry expertise for the development of LISC.”
LISC Virginia Staff
Jane Ferrara Executive Director
George Piazza Deputy Director
Philip Brooks Senior Program Officer for Lending
Jonathan Adkins-Taswell Program Officer for Housing and Capacity Building
Brett Brooks Program Officer for Wealth Building and Community Development
Victoria Fong Program Officer for Fundraising and Communications
Victoria McKelvey Assistant Program Officer
Local Advisory Committee
Chandra Hurst (Chair), JPMorgan Chase & Co
Sam Young (Vice Chair), Astyra
William Homiller (Past Chair), Troutman Pepper
Michelle J. Cutter, Altria
Kyle Elliott, Capitol Square Strategies
Brian Guthrie, Capital One
Mark Johnson, Truist
Michael Lomax, Woodforest National Bank
Michael Mulvihill, Carter Ryley Thomas
Gerry Quindoza, Bank of America
Dr. Henri’ Thompson, The MHT Companies
Marco Callender, YMCA of Greater Richmond
Ned Turnbull, Williams Mullen
Mariah Williams, Virginia Housing
