MacKenzie Scott's Yield Giving Awards $30 Million to Low Income Investment Fund

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

 FOR IMMEDIATE RELEASE    

MacKenzie Scott’s Yield Giving Awards $30 Million to Low Income Investment Fund
 Transformative gift showcases trust in LIIF’s 40 years of investing in historically excluded communities

SAN FRANCISCO (Dec. 5, 2024) — The Low Income Investment Fund (LIIF) has announced it is the recipient of a $30 million grant from MacKenzie Scott’s Yield Giving. This is the largest one-time unrestricted grant the organization has ever received, and the second gift LIIF has been awarded from the renowned fund. Yield Giving is a model of trust- and entity-based giving at scale that comes at a critical moment in the community development field where other funding sources may be/have been declining. 

“On behalf of the Board, thanks to MacKenzie Scott and Yield Giving for this award and a groundbreaking philanthropic model,” said Reymundo Ocañas, LIIF board chair and PNC Bank executive vice president and director of Community Development Banking. “This investment will encourage other funders to join LIIF in strengthening historically excluded communities, and will foster the organization’s long-term sustainability and impact.”  

Yield Giving focuses on high-impact funders with proven track records. Now celebrating 40 years in service to under-resourced communities, LIIF has invested more than $3.5 billion to serve 2.5 million people in 32 states across the nation. MacKenzie Scott’s initial $10 million catalytic award, in 2020, spurred LIIF’s efforts to significantly expand its lending volumes. Additionally, LIIF was able to develop and launch new child care programs to fill gaps in the market, operating now coast to coast, from New York to Oregon, Georgia to New Mexico. Scores of dedicated affordable housing developers and child care providers have had their small businesses set up for long-term success – and the communities in which they work have been strengthened.  

This new award will further fortify LIIF’s balance sheet and catalyze other work during what may be challenging times ahead, assuring other funders of LIIF’s sustainability and strong platform.  

“At a time when there has been a broad retrenchment of corporate and philanthropic support for community development work, Ms. Scott’s continued investments in LIIF and the community development financial institution (CDFI) sector represent a strong affirmation of our focus and a critical capital injection to help reduce disparities and inequities,” said Daniel A. Nissenbaum, chief executive officer at Low Income Investment Fund (LIIF). “We appreciate Ms. Scott’s continued trust in LIIF as a sound investment to carry forth her mission.” 

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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 to help create 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 more than 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. 
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