||January 01, 2010
LISC Receives Grant Under New Social Innovation Fund
The Local Initiatives Support Corp. (LISC) has been awarded $4.2 million under the Obama administration’s new Social Innovation Fund (SIF) to extend the reach of LISC Financial Opportunity Centers and help low- and moderate-income families realize lasting economic stability. The grant will support new and expanded centers in Chicago; Cincinnati; Detroit; Duluth, Minn.; Houston; Indianapolis; Minneapolis/St. Paul; San Diego; and the San Francisco Bay Area.
Financial Opportunity Centers are a key component of LISC’s Building Sustainable Communities approach to neighborhood revitalization.
This is the first-ever round of grants for the fund, which was created by the 2009 Kennedy Serve America Act and is administered by the Corporation for National and Community Service. The $50 million grant program aims to better target public-private resources toward solving social challenges.
The SIF portfolio consists of 11 organizations selected through a rigorous review process involving 60 external experts. The grantees will address urgent needs across three key issue areas—economic opportunity, healthy futures, and youth development and school support—by providing funding and other support necessary to drive results and impact.