Executive Compensation at the Local Initiatives Support Corporation (LISC)
The Local Initiatives Support Corporation (LISC) was established in 1979 “as a nimble non-profit with strong community partnerships that would connect hard-to-tap public and private resources with underinvested places and people….” Sounds like United Way and in many ways the organizations are similar except that LISC is a much smaller version with 37 local offices in 2,200 counties in 45 states (compared to thousands of United Way offices throughout the world). Read more 
Executive Compensation at the National Equity Fund (Chicago, IL)
The National Equity Fund (NEF) is a tax-exempt, non-profit 501 (c) 4 – a social welfare organization – engaged as a national syndicator of low-income housing tax credits. There are 15 voting members of the governing body, 11 of whom are independent. 11 of the 15 (73%) directors are male while 4 of the 15 (27%) directors are female.
NEF reports total revenue of about $50 million ($55 million in 2018; $49 million in 2017) most of which is from low income housing. For the past two years the organization has spent about $6 million more than they have raised annually but because of capital additions, net assets have increased (to $46 million) rather than declined. Read more
How Revenue is Spent at the National Equity Fund in Chicago, IL
The National Equity Fund (NEF) is a tax-exempt, non-profit 501 (c) 4 engaged as a national syndicator of low-income housing tax credits. According to the NE website, they “revitalize communities, empower individuals, and create economic opportunities nationwide.” What they don’t write about on their website is that most revenue goes to compensate employees and that only about 20% of revenue is used for grants. It is also important to note NEF is an affiliate of Local Initiatives Support Corporation – a tax-exempt non-profit 501 (c) 3 based in New York City, NY and who also happens to be the recipient of nearly all the grant money awarded in 2018. Read on. Read more
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