Here’s how the Local Initiatives Support Coalition is helping communities get resources, opportunities

It allocates money to local groups that provide emergency aid, career development resources to underprivileged minority communities

The Local Initiatives Support Coalition is a non-profit aimed at helping local communities get the resources and opportunities they need.

Now, leaders of the coalition say their organization has received a record total of about $2 billion in donations this year from companies looking to aid people of color.

LISC is a non-profit financial institution that funds community development initiatives in 44 states.

It allocates money to local groups that provide emergency aid, wealth-building and career development resources to underprivileged minority communities.

Netflix, Lowe’s and Square are just three of the major corporations that made multimillion dollar donations to LISC in the aftermath of George Floyd’s death.

The President and CEO of LISC says this is by far its biggest fundraising year on record.

The organization’s leaders say their efforts have never been in higher demand.

Corporations looking to help people facing institutional obstacles, including millions who have lost jobs due to the coronavirus pandemic, have turned to LISC for guidance.

LISC says 75% of the funds it received this year went to organizations that support low-income housing residents, many of whom were furloughed or laid off due to COVID-19.

Roughly 15% of the charitable funds went to grant and loan programs supporting minority-owned small businesses.

The remaining 10% went to programs promoting education and health initiatives for low-income communities, including job training for laid-off individuals looking for more viable career paths.

Another portion of LISC’s funds went to the San Diego housing commission, a housing authority for San Diego, California, whose residents are in the section 8 federal housing voucher program.

The money LISC received from corporate America this year has helped many people avoid financial ruin, but a lot more will have to happen if companies want to close America’s racial wealth gap.

The frequently-discussed difference in the average net worth of white, black and Latino families in America has been a focus for economic reform advocates in 2020 and a problem LISC and corporate leaders are determined to solve.

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