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Low Income Investment Fund

Annual Giving
$3.5B

Low Income Investment Fund (LIIF)

Quick Stats

  • Annual Investment: $3.5+ billion deployed since 1984
  • Success Rate: Not publicly disclosed
  • Decision Time: Varies by program; expedited processes available
  • Grant Range: Varies by program (primarily loans with selective grants)
  • Geographic Focus: National (32 states), with offices in San Francisco, Los Angeles, New York, Atlanta, and Washington, D.C.
  • Primary Model: Community Development Financial Institution (CDFI) providing loans, New Markets Tax Credits, and selective grants

Contact Details

Website: https://www.liifund.org/
Phone: +1-415-772-9094
Email: info@liifund.org
Address: 50 California St, Suite 2900, San Francisco, CA 94111

Program-Specific Contacts:

Overview

Founded in 1984, the Low Income Investment Fund (LIIF) is a nationally recognized nonprofit Community Development Financial Institution (CDFI) with an S&P credit rating of A-. Over 40 years, LIIF has deployed more than $3.5 billion in capital and technical assistance to underserved communities across 32 states, serving 2.5 million people and creating $73 billion in social benefits through job creation, improved health, affordable housing, and higher graduation rates. LIIF's strategic approach combines flexible, affordable financing through loans, New Markets Tax Credits, grants, and technical assistance. The organization is driving a $5 billion investment commitment (2020-2030) to advance racial equity. In December 2024, LIIF received a landmark $30 million unrestricted grant from MacKenzie Scott's Yield Giving, demonstrating strong philanthropic confidence in their model.

Funding Priorities

Primary Funding Approach

LIIF operates primarily as a lender (Community Development Financial Institution), not a traditional grant-making foundation. They provide:

  • Loans with favorable and flexible terms (high loan-to-value ratios, longer amortization periods, varied loan amounts, non-traditional collateral options)
  • New Markets Tax Credits
  • Selective grant funding for pre-financing activities and facility development in child care and sustainability programs
  • Technical assistance to support project success

Focus Areas

Affordable Housing

  • Support for affordable housing developers, particularly those led by people of color
  • Growing Housing Developers (GHD) program: supports developer growth in California, Georgia, Texas, New York City, Philadelphia, and Washington, D.C., targeting 1,500+ units of affordable housing
  • We Lift: The Coachella Valley's Housing Catalyst Fund (Southern California)
  • Purpose Built Communities Partnership: holistic community redevelopment

Early Care and Education (ECE)

  • LIIF is one of the largest CDFI charter school financiers in the nation, having invested over $559 million supporting 88,717 quality charter school spaces
  • In FY2024, LIIF served 2,362 centers and family child care homes (31% increase from FY2023)
  • Child Care Facilities Funds operate in San Francisco, Washington D.C., and other regions
  • BuildUp Oregon: approved $9.5 million across 23 sites in year one, creating 302 new child care slots
  • SHINE Child Care Facilities Fund (Harris County, Texas): renovations and repairs for home and center-based facilities

Community Facilities

  • Charter schools
  • Health clinics serving low-income populations
  • Community facilities supporting economic stability

Target Communities

  • 97% of individuals impacted are classified as low income (80% or below area median income)
  • 59% are classified as very low income (50% or below area median income)

Grant Programs (Limited)

LIIF provides grant capital specifically for:

  • Pre-financing activities in child care programs
  • Facility development support where small investments enable long-term change
  • Emergency relief (e.g., LA wildfire recovery grants for child care providers)
  • Technical assistance paired with capital tools

Governance and Leadership

Board of Directors

LIIF's Board includes experts in affordable housing, early care and education, and community facilities:

  • Reymundo Ocañas, Board Chair - Executive Vice President, Director of Community Development Banking, Corporate Responsibility Group at PNC Bank
  • Daniel A. Nissenbaum, Chief Executive Officer - Has led LIIF's strategic direction, emphasizing that "CDFIs solve problems, not just lend money"
  • Russell Bruemmer - Retired partner of Wilmer Cutler Pickering Hale and Dorr
  • Calvin Gladney - Former President and CEO of Smart Growth America
  • Bindiya Patel - Executive Director, Leadership Tomorrow, Seattle, Washington

Senior Leadership

  • Denise Noel, Executive Vice President and General Counsel - Oversees legal, corporate and Board governance, compliance, and risk-management functions

Organizational Philosophy

LIIF is "laser focused on both addressing the need, and on leveling the playing field for those who have been historically excluded from controlling capital to create community projects," demonstrating commitment to racial equity in community development finance.

Application Process & Timeline

How to Apply

IMPORTANT: LIIF primarily provides loans, not grants. Most applicants will apply for loan financing, not grant funding.

For Loan Products:

  • Contact LIIF directly through their website or by phone/email to discuss loan opportunities
  • LIIF offers customized financing solutions based on project needs
  • Examples include acquisition loans, construction loans, mini-permanent loans, and predevelopment loans

For Grant Programs (Limited Availability):

  • LIIF uses an online application system through Submittable (liifund.submittable.com)
  • Grant opportunities are primarily available for:
    • Child Care Facilities Fund programs in specific regions (San Francisco, Washington D.C., etc.)
    • Pre-financing and facility development activities in ECE programs
    • Special initiatives and emergency relief programs

Two-Step Process for Child Care Grants:

  1. Complete and submit an intake form
  2. LIIF reviews intake forms to determine eligibility and invites qualifying applicants to complete the full grant application

Contact for Specific Inquiries:

Decision Timeline

LIIF has demonstrated capability for both rapid response and standard processing:

  • Golden State Acquisition Fund: designed with speedy process from application to loan close
  • COVID-19 relief: quickly identified 68 awardees and distributed $2,718,000
  • Process efficiency: Submittable platform saves program officers 4-5 hours weekly, suggesting streamlined review

Specific timelines vary by program type and complexity. Contact LIIF directly for timeline expectations for your specific project.

Success Rates

Success rates are not publicly disclosed. However, LIIF's significant growth in FY2024 (31% increase in providers served) indicates expanded capacity and strong application review processes.

Reapplication Policy

Information about reapplication policies for unsuccessful applicants is not publicly available. Contact LIIF directly to discuss future opportunities if an initial application is not approved.

Application Success Factors

Alignment with LIIF's Mission and Values

  • Projects must serve low-income communities (80% or below area median income preferred)
  • Strong preference for projects advancing racial equity
  • Alignment with LIIF's focus areas: affordable housing, early care and education, or community facilities
  • Demonstrated commitment to creating economic opportunity and community well-being

Project Readiness

  • For child care grants, LIIF assesses "readiness" criteria during intake review
  • Projects should be well-planned with clear development timelines
  • Technical assistance may be available to help prepare projects for financing

Geographic Priority

  • While LIIF operates nationally, some programs have specific geographic focus areas
  • Active presence in California, Georgia, Texas, New York City, Philadelphia, Washington, D.C., and Atlanta
  • Child Care Facilities Funds operate in specific jurisdictions (San Francisco, D.C., Harris County TX, Oregon, etc.)

Examples of Recently Funded Projects

  • Ethos Classical Charter School (Atlanta): $6.35 million acquisition loan for building purchase, followed by $9.1 million construction/mini-permanent loan (partnership with Reinvestment Fund)
  • BuildUp Oregon: $9.5 million approved across 23 child care sites in first year
  • LA Wildfire Recovery: Recoverable grants to eight child care programs serving approximately 350 children

Organizational Capacity

  • Demonstrate financial sustainability and organizational strength
  • Show capacity to manage financing or grants effectively
  • Provide culturally responsive services to target communities

Important Note About LIIF's Model

LIIF is primarily a lender, not a grant-maker. Most applicants should expect to:

  • Repay financing over time (though with favorable terms)
  • Provide some form of collateral or security
  • Demonstrate project financial viability
  • Work with LIIF as a long-term capital partner, not just a one-time funder

Grant funding is limited to specific programs (primarily child care facility development) where small initial investments enable larger capital projects.

Key Takeaways for Grant Writers

  • Understand the LIIF model: LIIF is a Community Development Financial Institution (CDFI) offering primarily loans with favorable terms, not traditional grants. Approach them as a capital partner, not a grant funder.
  • Focus on the three priority areas: Affordable housing, early care and education, and community facilities are LIIF's core focus areas—projects outside these areas are unlikely to receive support.
  • Demonstrate impact on low-income communities: 97% of LIIF's impact reaches low-income individuals (80% AMI or below). Projects must clearly serve this population.
  • Emphasize racial equity: LIIF has committed $5 billion (2020-2030) to advancing racial equity. Projects that address systemic inequities and are led by people of color align with organizational priorities.
  • Be geographically strategic: While LIIF operates nationally, they have stronger presence and specific programs in California, Georgia, Texas, New York City, Philadelphia, Washington, D.C., and Atlanta. Grant programs are often jurisdiction-specific.
  • Use the Submittable platform: For the limited grant opportunities available (primarily child care facilities), applications are submitted through liifund.submittable.com. The two-step intake and application process requires demonstrating "readiness."
  • Consider technical assistance: LIIF provides over 8,000 hours of culturally responsive technical assistance annually. Organizations needing capacity building should highlight this need in applications.

References

Research conducted December 2025

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