The Local Initiatives Support Corporation (LISC) has joined forces with Morgan Stanley and the Kresge Foundation to launch the Healthy Futures Fund. The founding partners are providing equity as well as grants and loan capital to seed the $100 million effort, which is growing with the addition of new partners and funding. We are expanding the fund with support via New Markets Tax Credits and loan capital from new partners so that we can reach more people in more places.
Local Initiatives Support Corporation (LISC)
LISC combines corporate, government and philanthropic resources to help nonprofit community development corporations revitalize distressed neighborhoods. Since 1980, LISC has raised $12 billion to build or rehab 289,000 affordable homes and develop 46 million square feet of retail, community and educational space. For more visit www.lisc.org.
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 1,200 offices in 43 countries. Since 2006, Morgan Stanley has executed more than $5 billion in investments to strengthen underserved communities. For further information, visit www.morganstanley.com.
The Kresge Foundation is a $3 billion private, national foundation that seeks to influence the quality of life for future generations by creating access and opportunity in underserved communities, improving the health of low-income people, supporting artistic expression, increasing college achievement, assisting in the revitalization of Detroit, and advancing methods for addressing climate change. The foundation works in seven program areas: arts and culture, community development, Detroit, education, the environment, health, and human services. In 2011, the Board of Trustees approved 346 awards totaling $170 million; $140 million was paid out to grantees over the course of the year. For further information, visit www.kresge.org.
- Capital Link
- Corporation for Supportive Housing
- Mercy Loan Fund
- National Development Council
- NCB Capital Impact
- Opportunity Finance Network
- Primary Care Development Corporation