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Charity Math
The 990 read · EIN 13-3030229 · NY · Fiscal year 2024

Local Initiatives Support

Local Initiatives Support Corporation: CEO salary, finances and where donations go

In its own words

“Together with residents and partners, the organization forges resilient and inclusive communities of opportunities across America - great places to live, work, visit, do business and raise families.”

Data only Figures straight from the filing, screened by our rules. Not yet reviewed in depth by a CPA.

Methodology by Amir Arani, CPA, CA · Updated

Top pay
$689K Michael Pugh, 0.2% of spending
Revenue
$363.9M 73.3% from donations and grants
Spent
$344.5M 87.9% on programs, as reported
Net assets
$553.5M end of 2024
Savings
19.3 months of spending, net assets ÷ spending
People
987 employees, 20 volunteers
Form 990 (2024), Parts I, VII, IX, X
01 · Red flags

1 thing to look at.

We screen every filing against twelve rules. A flag is a prompt for a closer look, not a finding of wrongdoing.

medium

Loans to or from officers, directors or key employees

Part IV line 26 answered yes.

Form 990 Part IV, line 26; Schedule L Part II
02 · Where $1 goes · 2024

Of each dollar it spent, 87.9¢ went to programs, as reported.

The split the charity filed.
87.9¢
Programs, $302.7M
3.1¢
Fundraising, $10.7M
9.0¢
Admin, $31.2M
Form 990 (2024), Part IX, line 25
Cost to raise $1
4¢
as reported

For each dollar donated, Local Initiatives Support spent 4¢ on fundraising.

Fundraising ÷ $266.7M contributions · Form 990 Parts VIII, IX
03 · What it does

What it told the IRS it spent on.

The charity's own description of its largest programs, with what each cost.

Program 1 · 36.7% of program spending · $111.1M in grants $111.1M

The organization provides grants to community based organizations, small businesses, for-profit emerging developers and others throughout the country to support their efforts to revitalize disinvested communities and/or benefit low-wealth individuals and families. In 2024, the organization issued 1,470 grants throughout the country to support the development of 2,325 units of affordable homes and apartments; 161,342 square feet of commercial, community, and educational facility space; income and wealth building opportunities for individuals and families living on low to moderate-incomes; and…

Program 2 · 21.6% of program spending $65.5M

Lending. The organization provides loans, lines of credit, and other recoverable financing at all stages of development - from predevelopment to permanent - to support projects and programs that revitalize disinvested communities and benefit individuals and families living on low to moderate incomes.

Form 990 (2024), Part III
04 · The savings

Net assets: $233.4M to $553.5M in 11 years.

Net assets at each fiscal year end, 2013 to 2024.

Net assets at year end, $ millions
233
246
260
279
288
323
372
475
546
549
535
554
Form 990 history via ProPublicaForm 990 (2024)
05 · Who gets paid

The 8 highest-paid people.

Reportable pay in 2024, from the charity and related organizations.

Michael Pugh
Director/CEO
$688,920
Denise Notice-Scott
Former President
$659,579
Kevin Boes
CEO - Broadstreet
$407,646
Christina Travers
EVP/CFO
$402,343
Robert Cooney
SVP/General Counsel
$370,806
Steven Petsos
President - Broadstreet
$355,199
Miranda Jones
SVP
$313,724
Matthew Josephs
SVP
$313,635
Form 990 (2024), Part VII, Section A
Largest outside contractors
ContractorServicePaid
Special Services for Groups IncAti program service provider$5,594,012
Planet NutshellFinancial management consultant$1,094,549
Protiviti IncErap program call center operations$857,514
Exodus Recovery IncAti program service provider$852,789
Tda Consulting IncErap program implementation mgt service$805,888
Form 990 (2024), Part VII, Section B
06 · Questions

The questions people ask about the Local Initiatives Support.

Short, sourced answers. Each one stands on its own.

How much does the Local Initiatives Support CEO make?

Michael Pugh, Director/CEO, received $688,920 in reportable compensation in 2024, 0.2% of Local Initiatives Support's $344.5M in spending.

Form 990 (2024), Part VII

What percentage of Local Initiatives Support donations go to programs?

Local Initiatives Support reported 87.9% of 2024 spending as programs, 3.1% as fundraising and 9% as management.

Form 990 (2024), Part IX

How much money does Local Initiatives Support have?

Net assets were $553.5M at the end of 2024, about 19.3 months of spending.

Form 990 (2024), Part X

Does Local Initiatives Support have any red flags in its filing?

Its latest Form 990 triggered 1 of our twelve screening rules: loans to or from officers, directors or key employees. A flag is a prompt for a closer look, not a finding of wrongdoing.

Form 990 (2024)
07 · Sources and citing

Every number, traced.

  1. Local Initiatives Support Form 990, 2024 (IRS e-file)
  2. Local Initiatives Support Form 990 history (ProPublica Nonprofit Explorer)
Cite this page

Amir Arani, “Local Initiatives Support: CEO salary, finances and where your dollar goes,” Charity Math, updated 2026-11-07. https://charitymath.com/charities/local-initiatives-support/