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Nonprofit · EIN 13-3030229

LOCAL INITIATIVES SUPPORT CORPORATION

Tax-exempt · NEW YORK, NY 10005

Financials

$373.1M$372.8M2023$363.9M$344.5M2024
Revenue Expenses · by fiscal year end
Financials of LOCAL INITIATIVES SUPPORT CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$363,857,494$344,531,235$19,326,259$1,641,792,900$1,088,307,531$553,485,369
December 31, 2023990$373,059,143$372,765,330$293,813$1,515,989,183$981,396,797$534,592,386
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$266,697,606
of which government grants
$77,644,392
Program service revenue
$85,389,405
Investment income
$11,708,786
Net rental income
-$34,665
Net gain from sales of assets
$16,392
Net income from fundraising events
-$1,262,119
Other revenue
$61,697

Expenses

Grants and similar amounts paid
$111,086,644
Compensation of officers, directors and key employees
$13,651,190
Other salaries and wages
$63,663,062
Salaries, compensation and benefits (total)
$107,424,149
Professional fundraising fees
$231,749
Legal fees
$1,197,287
Accounting fees
$566,208
Occupancy
$6,625,345
Travel
$2,686,691
Depreciation
$708,166
Program services (functional)
$302,702,708
Management and general (functional)
$31,174,977
Fundraising (functional)
$10,653,550

Balance sheet and other

Total assets, start of year
$1,515,989,183
Total assets, end of year
$1,641,792,900
Total liabilities, end of year
$1,088,307,531
Net assets, end of year
$553,485,369
Land, buildings and equipment
$6,757,760
Publicly traded securities
$100,123,723
Net assets without donor restrictions
$288,912,531
Net assets with donor restrictions
$264,572,838
Gross unrelated business income
$5,453,198
Gross receipts
$510,583,530
Employees
987
Volunteers
20
Year formed
1979
State of legal domicile
NY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
MICHAEL PUGHDIRECTOR/CEO
Trustee or director, Officer
35$688,920$168,560
DENISE NOTICE-SCOTTFORMER PRESIDENT
Former
0$659,579$9,084
KEVIN BOESCEO - BROADSTREET
Officer
35$407,646$237,893
STEVEN PETSOSPRESIDENT - BROADSTREET
Officer
35$355,199$208,825
CHRISTINA TRAVERSEVP/CFO
Officer
35$402,343$126,185
ROBERT COONEYSVP/GENERAL COUNSEL
Officer
38$370,806$120,745
MATTHEW JOSEPHSSVP
Officer
35$313,635$105,479
MIRANDA JONESSVP
Officer
35$313,724$96,973
ADRIANA SANDOVALCFO BROADSTREET IMPACT SERVICES, LLC
Officer
35$275,469$130,049
SHAWN LUTHERSVP, CHIEF CREDIT OFFICER
Officer
35$296,201$97,267
BARBARA LIBOVESVP & DEPUTY CFO
Officer
35$284,498$107,202
MICHAEL SKREBUTENASSVP
Officer
35$278,585$99,748
CELAYNE HILLSVP & SECRETARY
Officer
35$296,139$80,430
MEGHAN K HARTESENIOR EXECUTIVE DIRECTOR
Highest-paid employee
35$279,078$95,189
KENNETH PATRICK MAHERSVP & SECRETARY
Officer
35$299,366$74,461
59 more people on this return
NameTitleHours / weekCompensationOther / benefits
JESSICA HARTVP
Officer
35$265,019$101,343
TAHIRIH ZIEGLERSVP
Officer
35$283,589$70,142
MIKE HUMBERSTONEVP
Officer
35$271,222$82,489
COLLETTE WILLIAMSVP & CONTROLLER
Officer
35$265,325$86,896
TIFFANY DURRSVP AND PRESIDENT OF LISC FUND MGMT
Officer
35$254,114$93,812
JOSEPH M HORIYEVP
Officer
35$248,893$93,120
MADELINE FRASER COOKSVP
Officer
35$252,907$88,952
VALERIE WHITESENIOR EXECUTIVE DIRECTOR
Highest-paid employee
22$267,967$72,942
WILLIAM TAFTSVP
Officer
35$255,712$79,075
MANPREET MANGATVP
Officer
35$236,475$90,031
COURTNEY BRANKERVP FINANCE & CAPITAL STRATEGIES
Officer
35$239,655$85,678
JEANNE COLASENIOR EXECUTIVE DIRECTOR
Highest-paid employee
35$238,891$80,185
YVONNE NOLANVP
Officer
35$223,222$88,771
VUSLAT EKSIVP
Officer
35$219,869$91,496
NICOLE WILLIAMSEXECUTIVE DIRECTOR
Highest-paid employee
35$237,432$73,314
DAVID GREENBERGVP
Officer
35$219,340$91,245
SEUNG KIMSVP
Officer
35$259,600$50,489
PAUL SANTANNASVP
Officer
35$230,605$63,368
STEVE HALLVP
Officer
35$231,516$62,229
BEVERLY SMITHVP
Officer
35$226,312$58,815
LAURA JARAMILLOEXECUTIVE DIRECTOR
Highest-paid employee
35$223,477$56,543
AFRAA SALEMVP
Officer
35$228,657$50,457
VANESSA RYANVP
Officer
35$194,422$83,274
CONSTANCE MAXEVP
Officer
35$235,026$42,523
TIFFANY ROYSTERVP
Officer
35$211,010$54,771
NADIA VILLAGRANVP
Officer
35$179,443$78,797
TYLER RUBINVP
Officer
35$174,075$76,223
MARY TALBOTVP
Officer
35$204,610$45,274
KIMBERLY CUTCHERVP
Officer
35$173,742$65,505
LAUREL ENGBRETSONVP
Officer
35$168,100$49,862
ANNA ALEKSEYEVAOUTGOING SVP
Officer
35$188,727$24,974
GEORGE ASHTON IIIOUTGOING MANAGING DIRECTOR
Officer
35$162,897$29,677
RUTH JONES NICHOLSEVP
Officer
35$148,177$22,230
MICHAEL TANGSVP
Officer
35$138,786$20,651
DANIEL NEIL MAXWELLSVP
Officer
35$111,284$19,195
DEANNA L HAMILTONSVP
Officer
35$104,524$18,620
LISA GLOVERFORMER CEO
Former
0$85,788$6,014
JOHN MOONSVP AND PRESIDENT, LISC GREEN
Officer
35$49,935$15,030
CAITLIN CAINOUTGOING VICE PRESIDENT
Officer
35$13,362$2,402
ALISAHAH JACKSON MDDIRECTOR
Trustee or director
1$0$0
ANTONIO MANNINGDIRECTOR
Trustee or director
1$0$0
CHARLES SMITHDIRECTOR
Trustee or director
1$0$0
CURTIS REED JRDIRECTOR
Trustee or director
1$0$0
DAVID HESSDIRECTOR
Trustee or director
1$0$0
ELLEN GILLIGANDIRECTOR
Trustee or director
1$0$0
GREGORY BELINFANTIDIRECTOR
Trustee or director
1$0$0
GREGORY FAIRCHILDDIRECTOR
Trustee or director
1$0$0
JERRY RICKETTDIRECTOR
Trustee or director
1$0$0
KATHRYN E MERCHANTDIRECTOR
Trustee or director
1$0$0
LISA CASHINVICE CHAIR & DIRECTOR
Trustee or director, Officer
1$0$0
LISA HASEGAWADIRECTOR
Trustee or director
1$0$0
MICHELLE DE LA UZDIRECTOR
Trustee or director
1$0$0
NICOLE ARNABOLDIDIRECTOR
Trustee or director
1$0$0
NILDA RUIZDIRECTOR
Trustee or director
1$0$0
REY RAMSEYDIRECTOR
Trustee or director
1$0$0
ROBERT RUBINCHAIRMAN & DIRECTOR
Trustee or director, Officer
1$0$0
ROLAND ANGLINDIRECTOR
Trustee or director
1$0$0
SALLY DURDANDIRECTOR
Trustee or director
1$0$0
ZACHARY BOYERSDIRECTOR
Trustee or director
1$0$0
990 for the year ended December 31, 2023: 74 people
NameTitleHours / weekCompensationOther / benefits
LISA GLOVEROUTGOING-CEO/DIRECTOR
Trustee or director, Officer
35$682,537$46,168
KEVIN BOESCEO - BROADSTREET
Officer
35$584,167$63,844
DENISE NOTICE-SCOTTOUTGOING-PRESIDENT
Officer
35$543,996$48,650
STEVEN PETSOSPRESIDENT - BROADSTREET
Officer
35$489,053$53,586
CHRISTINA TRAVERSEVP/CFO
Officer
35$399,597$71,262
ROBERT COONEYSVP/GENERAL COUNSEL
Officer
38$359,759$81,268
CONSTANCE MAXEXECUTIVE VICE PRESIDENT, LENDING
Officer
35$353,697$76,304
GEORGE ASHTON IIIMANAGING DIRECTOR
Officer
35$318,560$70,808
MATTHEW JOSEPHSSVP
Officer
35$305,842$70,514
BARBARA LIBOVESVP & DEPUTY CFO
Officer
35$283,383$68,282
MICHAEL SKREBUTENASSVP
Officer
35$268,201$71,863
TAHIRIH ZIEGLERSVP
Officer
35$276,257$52,999
MICHAEL TANGSVP
Officer
35$274,373$53,626
JESSICA HARTVICE PRESIDENT
Officer
35$258,380$67,797
CELAYNE HILLSVP & SECRETARY
Officer
35$282,439$43,190
ADRIANA SANDOVALSVP/CFO BROADSTREET IMPACT SERVICES, LLC
Officer
35$275,663$48,292
KENNETH PATRICK MAHERSVP & SECRETARY
Officer
35$283,662$39,859
MIKE HUMBERSTONEVP & CHIEF INFORMATION OFFICER
Officer
35$262,505$51,918
CINDY WUSENIOR EXECUTIVE DIRECTOR
Highest-paid employee
35$239,584$74,060
COLLETTE WILLIAMSVP & CONTROLLER
Officer
35$257,198$56,400
MEGHAN HARTESENIOR EXECUTIVE DIRECTOR
Highest-paid employee
35$273,266$33,600
JOSEPH HORIYEVICE PRESIDENT
Officer
35$242,313$64,167
VALERIE WHITESENIOR EXECUTIVE DIRECTOR
Highest-paid employee
22$257,123$45,413
WILLIAM TAFTSVP
Officer
35$250,232$51,431
MIRANDA JONESSVP
Officer
35$261,199$40,039
SHAWN LUTHERSVP, CHIEF CREDIT OFFICER
Officer
35$265,482$32,286
MADELINE FRASER COOKSVP
Officer
35$232,434$59,847
COURTNEY BRANKERVP & TREASURER
Officer
35$233,510$58,733
VUSLAT EKSIVICE PRESIDENT
Officer
35$215,361$65,997
YVONNE TOU NOLANVICE PRESIDENT
Officer
35$216,380$64,143
DAVID GREENBERGVICE PRESIDENT
Officer
35$216,600$63,438
SEUNG KIMSVP
Officer
35$254,076$21,850
JEANNE COLASENIOR EXECUTIVE DIRECTOR
Highest-paid employee
35$224,014$50,502
MANPREET MANGATVICE PRESIDENT
Officer
35$211,677$61,065
JANE FERRARAEXECUTIVE DIRECTOR
Highest-paid employee
35$209,659$61,227
STEVE HALLVICE PRESIDENT
Officer
35$224,630$37,513
ANNA ALEKSEYEVASVP
Officer
35$229,763$29,578
BEVERLY SMITHVICE PRESIDENT
Officer
35$220,714$34,718
VANESSA RYANVICE PRESIDENT
Officer
35$190,460$61,216
PAUL SANTANNAVICE PRESIDENT
Officer
35$202,139$37,440
TIFFANY ROYSTERVICE PRESIDENT
Officer
35$205,603$31,651
MICHAEL PUGHCEO/DIRECTOR
Trustee or director, Officer
33$224,934$1,627
KIMBERLY CUTCHERVICE PRESIDENT
Officer
35$170,880$45,376
CAITLIN CAINVICE PRESIDENT
Officer
35$168,083$27,949
TYLER RUBINVICE PRESIDENT
Officer
35$153,122$38,868
ALEXIS HAMILTONOUTGOING CHIEF EXECUTIVE OFFICER-IMMITO
Officer
35$160,200$22,333
DIANA MARCELA PEREZOUTGOING-VICE PRESIDENT
Officer
35$141,934$36,476
JULIA RYANOUTGOING-VICE PRESIDENT
Officer
30$142,045$32,164
TODD OVERLEYCHIEF DEVELOPMENT OFFICER-IMMITO
Officer
35$141,337$13,552
LAURA SHIVELYCHIEF CREDIT OFFICER -IMMITO
Officer
35$135,577$17,452
MONICA RICHARDSON PRIDEOUTGOING-VICE PRESIDENT
Officer
35$134,012$15,167
KIMBERLY VANDENDADLECHIEF OPERATING OFFICER -IMMITO
Officer
35$112,605$12,022
ALISAHAH JACKSON MDDIRECTOR
Trustee or director
1$0$0
AUDREY CHOIDIRECTOR
Trustee or director
1$0$0
CHARLES SMITHDIRECTOR
Trustee or director
1$0$0
COLVIN W GRANNUMOUTGOING-DIRECTOR
Trustee or director
1$0$0
CURTIS REED JRDIRECTOR
Trustee or director
1$0$0
DAVID HESSDIRECTOR
Trustee or director
1$0$0
ELLEN GILLIGANDIRECTOR
Trustee or director
1$0$0
GREGORY BELINFANTIDIRECTOR
Trustee or director
1$0$0
GREGORY FAIRCHILDDIRECTOR
Trustee or director
1$0$0
JERRY RICKETTDIRECTOR
Trustee or director
1$0$0
KAREN FANGOUTGOING-DIRECTOR
Trustee or director
1$0$0
KATHRYN E MERCHANTDIRECTOR
Trustee or director
1$0$0
LISA CASHINVICE CHAIR & DIRECTOR
Trustee or director, Officer
1$0$0
LISA HASEGAWADIRECTOR
Trustee or director
1$0$0
MICHELLE DE LA UZDIRECTOR
Trustee or director
1$0$0
NICOLE ARNABOLDIDIRECTOR
Trustee or director
1$0$0
NILDA RUIZDIRECTOR
Trustee or director
1$0$0
REY RAMSEYDIRECTOR
Trustee or director
1$0$0
RICHARD RAPSONOUTGOING-DIRECTOR
Trustee or director
1$0$0
ROBERT RUBINCHAIRMAN & DIRECTOR
Trustee or director, Officer
1$0$0
SALLY DURDANDIRECTOR
Trustee or director
1$0$0
ZACHARY BOYERSDIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
28 LIBERTY ST 34TH FL, NEW YORK, NY 10005-1526
In care of
% LILY LIM
Principal officer (990 for 2024)
MICHAEL PUGH, 28 LIBERTY STREET 34TH FLOOR, NEW YORK, NY 10005
Signed the 990
COLLETTE WILLIAMS, SVP & CONTROLLER
Phone
(212) 455-9800
Return prepared by
COHNREZNICK ADVISORY LLC

Mission

TOGETHER WITH RESIDENTS AND PARTNERS, THE ORGANIZATION FORGES RESILIENT AND INCLUSIVE COMMUNITIES OF OPPORTUNITIES ACROSS AMERICA - GREAT PLACES TO LIVE, WORK, VISIT, DO BUSINESS AND RAISE FAMILIES.

990 for the year ended December 31, 2024

Program accomplishments

  • PROJECT DEVELOPMENT AND INVESTMENT. THE ORGANIZATION PROVIDES TECHNICAL ASSISTANCE AND OTHER PROGRAM SERVICES TO COMMUNITY BASED ORGANIZATIONS , GOVERNMENT AGENCIES, SMALL BUSINESSES, FOR-PROFIT EMERGING DEVELOPERS AND OTHERS THROUGHOUT THE COUNTRY TO ASSIST THEM IN TRANSFORMING THEIR COMMUNITIES INTO HEALTHY AND SUSTAINABLE COMMUNITIES OF CHOICE AND OPPORTUNITY, INCLUDING EFFORTS TO PROMOTE SAFER STREETS; HELP RESIDENTS ACHIEVE ECONOMIC STABILITY; IMPROVE HEALTH AND ENCOURAGE HEALTHY LIFESTYLES; AND INCENTIVIZE CHANGE THROUGH ARTS AND CULTURE.
    Expenses $126,143,244 · revenue $30,385,616
  • THE ORGANIZATION PROVIDES GRANTS TO COMMUNITY BASED ORGANIZATIONS, SMALL BUSINESSES, FOR-PROFIT EMERGING DEVELOPERS AND OTHERS THROUGHOUT THE COUNTRY TO SUPPORT THEIR EFFORTS TO REVITALIZE DISINVESTED COMMUNITIES AND/OR BENEFIT LOW-WEALTH INDIVIDUALS AND FAMILIES. IN 2024, THE ORGANIZATION ISSUED 1,470 GRANTS THROUGHOUT THE COUNTRY TO SUPPORT THE DEVELOPMENT OF 2,325 UNITS OF AFFORDABLE HOMES AND APARTMENTS; 161,342 SQUARE FEET OF COMMERCIAL, COMMUNITY, AND EDUCATIONAL FACILITY SPACE; INCOME AND WEALTH BUILDING OPPORTUNITIES FOR INDIVIDUALS AND FAMILIES LIVING ON LOW TO MODERATE-INCOMES; AND CAPACITY BUILDING, OPERATIONS, AND OTHER COMMUNITY DEVELOPMENT ACTIVITIES. THE ORGANIZATION ALSO ISSUED 308 GRANTS TO SMALL BUSINESSES AND OTHER INSTITUTIONS THROUGHOUT THE COUNTRY.
    Expenses $111,086,644 · grants $111,086,644
  • LENDING. THE ORGANIZATION PROVIDES LOANS, LINES OF CREDIT, AND OTHER RECOVERABLE FINANCING AT ALL STAGES OF DEVELOPMENT - FROM PREDEVELOPMENT TO PERMANENT - TO SUPPORT PROJECTS AND PROGRAMS THAT REVITALIZE DISINVESTED COMMUNITIES AND BENEFIT INDIVIDUALS AND FAMILIES LIVING ON LOW TO MODERATE INCOMES.
    Expenses $65,472,820 · revenue $50,909,072

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
13-3030229
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1980
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,641,792,900
Income (IRS master file)
$510,583,530

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$363,857,494$344,531,235$1,641,792,900XML
990-TDecember 2024–––IRS
990December 2023$373,059,143$372,765,330$1,515,989,183XML
990-TDecember 2023–––IRS
990December 2022$290,171,184$283,041,132$1,383,146,715IRS
990-TDecember 2022–––IRS
990December 2021–––IRS
990-TDecember 2021–––IRS
990December 2020–––IRS
990-TDecember 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 13-3030229).

Questions about LOCAL INITIATIVES SUPPORT CORPORATION

What is the EIN of LOCAL INITIATIVES SUPPORT CORPORATION?
The employer identification number (EIN) of LOCAL INITIATIVES SUPPORT CORPORATION is 13-3030229.
Is LOCAL INITIATIVES SUPPORT CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1980.
Are donations to LOCAL INITIATIVES SUPPORT CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does LOCAL INITIATIVES SUPPORT CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of LOCAL INITIATIVES SUPPORT CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did LOCAL INITIATIVES SUPPORT CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of LOCAL INITIATIVES SUPPORT CORPORATION?
The 990 for the year ended December 31, 2024 names MICHAEL PUGH.
Who are the officers and directors of LOCAL INITIATIVES SUPPORT CORPORATION?
The 990 for the year ended December 31, 2024 lists 74 people; 54 received compensation from the organization, the highest $688,920 (MICHAEL PUGH, DIRECTOR/CEO).
How much revenue does LOCAL INITIATIVES SUPPORT CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $363,857,494, expenses of $344,531,235 and total assets of $1,641,792,900 at year end.

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