Low Income Investment Fund Announces Release of Its 2023 Annual Impact Report, Highlights Banner Lending Year and Development of Comprehensive Early Care and Education Business Model

CONTACT  
Christopher Gil  
Director of Strategic Communications and Influence   
(415) 287-3197, cgil@liifund.org  

FOR IMMEDIATE RELEASE    

Low Income Investment Fund Announces Release of Its 2023 Annual Impact Report, Highlights Banner Lending Year and Development of Comprehensive Early Care and Education Business Model 
FY23 sets the table for FY24’s anticipated capital-deployment successes and further scaling   

SAN FRANCISCO (Feb. 21, 2024) — The Low Income Investment Fund (LIIF) has announced the release of its 2023 Annual Impact Report, displaying continued racial equity in lending and a banner year as a renowned community development financial institution (CDFI). The digital report, with a theme of “Scaling Up,” blends compelling elements of narrative, data, imagery, video and animation to tell a story of measurable impact. Detailed is LIIF’s exponential growth, plus how the CDFI is a fiscally sound organization with continued strong S&P and Aeris ratings. This pair of rating agencies indicated that the organization is uniquely positioned to drive investments into historically excluded communities in the face of any national economic uncertainties. 

“As we set the stage for LIIF in the next decade, we are excited about the possibilities before us,” said Chief Executive Officer Daniel A. Nissenbaum at LIIF and LIIF Board Chair Reymundo Ocañas. “We are determined to continue pushing the boundaries, thinking differently about the risks we are willing to take, and driving toward a future where everyone in the United States can live in a community of opportunity, equity and well-being.” 
 
Highlights of the FY23 July 1, 2022-June 30, 2023 timeline include: 

A major example of LIIF’s scaling up is its new, comprehensive early care and education (ECE) business model. While LIIF has been working in the child care sector for 25 years, that focus reported unprecedented growth during the pandemic via a partnership with the California Department of Social Services and its $350.5 million Infrastructure Grant Program (IGP). LIIF has been serving as facilities fund manager for this initiative, with capacity building and advisory services now rounding out LIIF’s three ECE business verticals for its national strategy for supporting the child care sector. 

Also central to the report is the showcasing of LIIF’s movement toward deeper racial equity in lending, with an Impact-Risk-Profitability (IRP) Framework created with dimensions of impacts for the scoring of prospective loans. 
 
“I encourage other CDFIs to join this movement of scaling up racial equity in lending,” said President Kimberly Latimer-Nelligan at LIIF. “Together, we are bettering communities, one loan and one developer at a time.” 

Read the full LIIF 2023 Annual Impact Report report here. 

### 

About the Low Income Investment Fund   
Low Income Investment Fund (LIIF) is a national community development financial institution (CDFI), headquartered in San Francisco with offices in New York City, Atlanta, Los Angeles and Washington, D.C., that invests in communities of opportunity, equity and well-being. As a CDFI, LIIF supports projects that have high social value but lack access to traditional financial institutions. Since 1984, LIIF has deployed more than $3.5 billion to serve 2.5 million people in communities across the country from its five offices. An S&P-rated organization, LIIF funds healthy communities by providing innovative capital solutions.   
liifund.org