Nonprofit · EIN 94-2952578
LOW INCOME INVESTMENT FUND
Tax-exempt · SAN FRANCISCO, CA 94105
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $123,432,648 | $72,551,940 | $50,880,708 | $786,532,068 | $569,315,434 | $217,216,634 |
| June 30, 2024 | 990 | $88,297,355 | $81,808,063 | $6,489,292 | $775,773,301 | $603,844,995 | $171,928,306 |
| June 30, 2023 | 990 | $107,952,700 | $102,910,131 | $5,042,569 | $642,654,206 | $486,280,091 | $156,374,115 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $70,136,586
- of which government grants
- $32,450,897
- Program service revenue
- $49,275,354
- Investment income
- $4,048,664
- Net gain from sales of assets
- $44,044
- Net income from fundraising events
- -$75,433
- Other revenue
- -$27,956
Expenses
- Grants and similar amounts paid
- $14,164,523
- Compensation of officers, directors and key employees
- $2,477,613
- Other salaries and wages
- $21,224,250
- Salaries, compensation and benefits (total)
- $29,116,480
- Professional fundraising fees
- $0
- Legal fees
- $424,276
- Accounting fees
- $386,057
- Occupancy
- $1,785,306
- Travel
- $806,924
- Depreciation
- $471,632
- Program services (functional)
- $56,597,222
- Management and general (functional)
- $13,227,755
- Fundraising (functional)
- $2,726,963
Balance sheet and other
- Total assets, start of year
- $775,773,301
- Total assets, end of year
- $786,532,068
- Total liabilities, end of year
- $569,315,434
- Net assets, end of year
- $217,216,634
- Land, buildings and equipment
- $1,333,624
- Publicly traded securities
- $15,462,817
- Net assets without donor restrictions
- $151,535,460
- Net assets with donor restrictions
- $65,681,174
- Gross receipts
- $141,050,905
- Employees
- 177
- Volunteers
- 14
- Year formed
- 1984
- State of legal domicile
- CA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DANIEL NISSENBAUM | DIRECTOR & CEO Trustee or director, Officer | 40 | $626,756 | $52,049 |
| KIMBERLY LATIMER-NELLIGAN | PRESIDENT Officer | 40 | $430,622 | $33,304 |
| PANAGIOTA MAHENDRU | CFO & EVP Officer | 40 | $383,049 | $52,049 |
| DENISE NOEL | EVP & GENERAL COUNSEL Officer | 40 | $302,442 | $39,676 |
| RACHEL L BLUESTEIN | SVP, CHIEF PROGRAM OFFICER Highest-paid employee | 40 | $280,461 | $61,358 |
| STEPHANIE MCFADDEN | SVP, CHIEF LENDING OFFICER Highest-paid employee | 40 | $292,334 | $48,215 |
| SUSAN HYMAN | SVP, CHIEF CREDIT OFFICER Highest-paid employee | 40 | $298,508 | $30,090 |
| MARY GARLING | SVP, NATIONAL EARLY CARE EDUCATION Highest-paid employee | 40 | $282,204 | $37,295 |
| TINA WALKER | EVP & CHIEF PEOPLE OFFICER Officer | 40 | $276,460 | $35,567 |
| CHRISTINA SHIWBALAK | VP, OPERATIONS Highest-paid employee | 40 | $273,158 | $28,444 |
| MARIA ARELLANO BAGLIERI | EVP & CHIEF STRATEGY OFFICER Officer | 40 | $180,363 | $31,836 |
| CALVIN GLADNEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAROL NAUGHTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID FLEMING | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DIONNE NELSON | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
10 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| EILEEN FITZGERALD | DIRECTOR Trustee or director | 1 | $0 |
| ERIKA POETHIG | DIRECTOR Trustee or director | 1 | $0 |
| GLORIA LEE | DIRECTOR Trustee or director | 1 | $0 |
| JESSICA SAGER | VICE CHAIR Trustee or director, Officer | 1 | $0 |
| MICHAEL SOLOMON | DIRECTOR Trustee or director | 1 | $0 |
| REYMUNDO OCANAS | CHAIR Trustee or director, Officer | 1 | $0 |
| RUSSELL BRUEMMER | SECRETARY Trustee or director, Officer | 1 | $0 |
| TAWANNA BLACK | DIRECTOR Trustee or director | 1 | $0 |
| WILLIAM C KELLY JR | DIRECTOR Trustee or director | 1 | $0 |
| YOHANA QUIROZ | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 27 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DANIEL NISSENBAUM | DIRECTOR & CEO Trustee or director, Officer | 40 | $717,709 | $67,213 |
| KIMBERLY LATIMER-NELLIGAN | PRESIDENT Officer | 40 | $491,905 | $42,256 |
| PANAGIOTA MAHENDRU | CFO & EVP Officer | 40 | $386,412 | $45,174 |
| STEPHANIE MCFADDEN | SVP, CHIEF LENDING OFFICER Highest-paid employee | 40 | $289,747 | $73,908 |
| RACHEL L BLUESTEIN | SVP, CHIEF PROGRAM OFFICER Highest-paid employee | 40 | $286,790 | $75,987 |
| SUSAN HYMAN | SVP, CHIEF CREDIT OFFICER Highest-paid employee | 40 | $307,918 | $43,183 |
| DENISE NOEL | EVP & GENERAL COUNSEL Officer | 40 | $309,097 | $33,012 |
| MARIA ARELLANO BAGLIERI | EVP & CHIEF STRATEGY OFFICER Officer | 40 | $286,573 | $36,397 |
| CHRISTINA SHIWBALAK | VP, OPERATIONS Highest-paid employee | 40 | $272,160 | $25,535 |
| KIRSTEN SHAW | VP, NORTHEAST & MID-ATLANTIC REGIONS Highest-paid employee | 40 | $278,909 | $12,221 |
| TINA WALKER | EVP & CHIEF PEOPLE OFFICER Officer | 40 | $19,833 | $0 |
| REYMUNDO OCANAS | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JESSICA SAGER | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RUSSELL BRUEMMER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| DIONNE NELSON | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| MARGARET ANADU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TAWANNA BLACK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EILEEN FITZGERALD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID FLEMING | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DONNA GAMBRELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CALVIN GLADNEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM C KELLY JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| GLORIA LEE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAROL NAUGHTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ERIKA POETHIG | DIRECTOR Trustee or director | 1 | $0 | $0 |
| YOHANA QUIROZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL SOLOMON | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 25 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DANIEL NISSENBAUM | DIRECTOR & CEO Trustee or director, Officer | 40 | $715,566 | $69,329 |
| KIMBERLY LATIMER-NELLIGAN | PRESIDENT Officer | 40 | $488,987 | $37,341 |
| RACHEL L BLUESTEIN | SVP, CHIEF PROGRAM OFFICER Highest-paid employee | 40 | $312,099 | $65,765 |
| STEPHANIE MCFADDEN | SVP, CHIEF LENDING OFFICER Highest-paid employee | 40 | $287,376 | $67,743 |
| SUSAN HYMAN | SVP, CHIEF CREDIT OFFICER Highest-paid employee | 40 | $301,131 | $39,803 |
| MARIA ARELLANO BAGLIERI | EVP & CHIEF STRATEGY OFFICER Officer | 40 | $291,982 | $33,750 |
| SABRINA BAPTISTE | CAO & SENIOR VP (UNTIL 1/26/23) Officer | 40 | $256,916 | $43,446 |
| ANTOINETTE L KYLE | VP, SOUTHEAST REGION Highest-paid employee | 40 | $244,428 | $55,353 |
| PANAGIOTA MAHENDRU | CFO & EVP Officer | 40 | $266,381 | $30,759 |
| KIRSTEN SHAW | VP, NORTHEAST & MID-ATLANTIC REGIONS Highest-paid employee | 40 | $273,092 | $11,989 |
| DENISE NOEL | EVP & GENERAL COUNSEL Officer | 40 | $201,096 | $22,369 |
| ARTHUR FATUM | FORMER INTERIM CFO Former | 40 | $103,225 | $0 |
| REYMUNDO OCANAS | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RUSSELL BRUEMMER | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| DIONNE NELSON | TREASURER Trustee or director | 1 | $0 | $0 |
| MARGARET ANADU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TAWANNA BLACK | DIRECTOR Trustee or director | 1 | $0 | $0 |
| EILEEN FITZGERALD | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID FLEMING | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DONNA GAMBRELL | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CALVIN GLADNEY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| WILLIAM C KELLY JR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CAROL NAUGHTON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JESSICA SAGER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MICHAEL SOLOMON | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 49 STEVENSON ST STE 300, SAN FRANCISCO, CA 94105-2950
- In care of
- % ROXANNE HUEY
- Principal officer (990 for 2024)
- DANIEL NISSENBAUM, 49 STEVENSON ST SUITE 300, SAN FRANCISCO, CA 94105
- Signed the 990
- PANAGIOTA MAHENDRU, CHIEF FIN. AND OPER. OFFICER
- Phone
- (415) 489-6102
- Website
- WWW.LIFUND.ORG
- Return prepared by
- COHNREZNICK ADVISORY LLC
California records
California keeps its own records of charities and corporations. Search them by EIN 94-2952578 or by the name LOW INCOME INVESTMENT FUND.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
SEE SCHEDULE OOUR MISSION AND VISION: EVERYONE SHOULD BENEFIT FROM LIVING IN A COMMUNITY OF OPPORTUNITY, EQUITY AND WELL-BEING. LIIF MOBILIZES CAPITAL AND PARTNERS TO ACHIEVE THIS VISION FOR PEOPLE AND COMMUNITIES.WE BELIEVE THAT A COMMUNITY OF OPPORTUNITY PROVIDES ITS RESIDENTS WITH AFFORDABLE HOUSING, HIGH- QUALITY EDUCATIONAL OPPORTUNITIES, THE ABILITY TO LIVE HEALTHY AND ACTIVE LIVES, AND GOOD JOBS.
Program accomplishments
- EARLY CARE AND EDUCATION (ECE) PROGRAM:SEE SCHEDULE OExpenses $20,228,230 · grants $11,132,064 · revenue $5,071,671
- LENDING ACTIVITIES:SEE SCHEDULE OExpenses $31,071,904 · grants $831,459 · revenue $44,251,160
- OTHER DEVELOPMENT SERVICES:SEE SCHEDULE OExpenses $5,188,731 · grants $2,201,000
- EDUCATIONAL STAFF MEETINGS LIIF HAS ENGAGED WITH MEMBERS OF CONGRESS, FEDERAL AGENCIES, AND OTHER PUBLIC-SECTOR LEADERS THROUGH STRUCTURED EDUCATIONAL BRIEFINGS. THESE MEETINGS FEATURE CONCISE, DATA-DRIVEN MATERIALSSUCH AS ONE-PAGERS ILLUSTRATING LIIF'S INVESTMENTS AND THE MEASURABLE IMPACT OF COMMUNITY DEVELOPMENT INITIATIVES. IN THESE MEETINGS, LIIF ADVOCATES FOR ROBUST FUNDING OF KEY PROGRAMSSUCH AS THE CDFI FUND, HEAD START, AND OTHER HUD INITIATIVESAS WELL AS FOR POLICIES THAT ADVANCE AFFORDABLE HOUSING AND EARLY CARE AND EDUCATION (ECE). BY TRANSLATING COMPLEX POLICY ISSUES INTO ACCESSIBLE INSIGHTS, THESE ENGAGEMENTS STRENGTHEN POLICYMAKERS' UNDERSTANDING OF THE PROGRAMS SHAPING THEIR CONSTITUENCIES AND POSITION LIIF AS A TRUSTED, GO-TO RESOURCE FOR CREDIBLE POLICY GUIDANCE.COLLECTIVE ADVOCACY RECOGNIZING THAT SYSTEMIC CHANGE REQUIRES COLLECTIVE ACTION, LIIF ACTIVELY COLLABORATES WITH PEER ORGANIZATIONS AND COALITIONS TO ADVANCE SHARED ADVOCACY GOALS. THROUGH JOINT POLICY STATEMENTS, COORDINATED CAMPAIGNS, AND STRATEGIC PARTNERSHIPS, LIIF AMPLIFIES ITS INFLUENCE AND ENSURES THAT COMMUNITY INVESTMENT PRIORITIES ARE HEARD ACROSS STATE AND NATIONAL PLATFORMS. THIS COLLECTIVE VOICE STRENGTHENS THE POLICY ECOSYSTEM, ALIGNING EFFORTS TO EXPAND OPPORTUNITY AND LONG-TERM COMMUNITY IMPACT. THROUGHOUT OCTOBER 2025, LIIF WORKED WITH PARTNERS TO SECURE SIGNATURES FROM 105 MEMBERS OF CONGRESS ON A BICAMERAL LETTER TO TREASURY SECRETARY AND OMB DIRECTOR, REAFFIRMING THEIR SUPPORT FOR THE CDFI FUND AND URGING THE ADMINISTRATION TO CARRY OUT ITS STATUTORY OBLIGATIONS. ADDITIONALLY, AS THE CO-CHAIR FOR THE NATIONAL CHILDREN'S FACILITY NETWORK (NCFN), LIIF CONTINUES TO HOST LEARNING EXCHANGES AND PROVIDED RESOURCES FOR COALITION MEMBERS TO KEEP MEMBERS UP TO DATE AND ENGAGED ON ECE POLICY ISSUES. THIS INCLUDES HOSTING MONTHLY WEBINARS, AUTHORING POLICY UPDATES, AND PROVIDING MATERIALS FOR MEMBERS TO ENGAGE WITH THEIR ELECTED OFFICIALS. LEGISLATIVE ENDORSEMENTS LIIF OFFERED ENDORSEMENTS FOR KEY PIECES OF LEGISLATION, RECOGNIZING THAT PUBLIC SUPPORT FROM MISSION-DRIVEN ORGANIZATIONS CAN PLAY AN IMPORTANT ROLE IN ADVANCING POLICY PRIORITIES. THESE ENDORSEMENTS NOT ONLY ELEVATE LIIF'S POLICY AGENDA BUT ALSO HELP BUILD MOMENTUM FOR LEGISLATIVE ACTION THAT ALIGNS WITH ITS MISSION TO PROMOTE ECONOMIC OPPORTUNITY FOR COMMUNITIES. IN SEPTEMBER 2025, LIIF ENDORSED THE BIPARTISAN, CHILD CARE MODERNIZATION ACT. THE BILL WILL REAUTHORIZE THE CHILD CARE AND DEVELOPMENT BLOCK GRANT (CCDBG) TO HELP PROVIDE QUALITY, AFFORDABLE CHILD CARE TO AMERICA'S WORKING FAMILIES. LIIF'S CEO WAS QUOTED IN SEN. FISCHER'S (R-NE) PRESS RELEASE UNDERSCORING THE IMPORTANCE OF THE CRITICAL ROLE OF FEDERAL INVESTMENTS IN CHILD CARE FACILITIES.IN AUGUST, LIIF ENDORSED THE BIPARTISAN, ROAD TO HOUSING ACT OF 2025. THE BILL INCLUDES PROVISIONS THAT WILL BOOST THE NATION'S HOUSING SUPPLY, IMPROVE HOUSING AFFORDABILITY, AND INCREASE OVERSIGHT AND EFFICIENCY OF FEDERAL REGULATORS AND HOUSING PROGRAMS. LIIF'S CEO, DAN NISSENBAUM, WAS QUOTED IN CHAIRMAN SCOTT'S PRESS RELEASE NOTING LIIF'S SUPPORT FOR THE BILL'S FOCUS ON LEVERAGING PUBLIC AND PRIVATE CAPITAL, PLUS FOSTERING CROSS-SECTOR COLLABORATION TO SCALE SOLUTIONS THAT MEET THE URGENCY AND COMPLEXITY OF THE HOUSING CRISIS.Expenses $108,357
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 94-2952578
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1986
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Housing and shelter (L820)
- Assets (IRS master file)
- $786,532,068
- Income (IRS master file)
- $141,050,905
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $123,432,648 | $72,551,940 | $786,532,068 | XML |
| 990 | June 2024 | $88,297,355 | $81,808,063 | $775,773,301 | IRS |
| 990 | June 2023 | $107,952,700 | $102,910,131 | $642,654,206 | XML |
| 990 | June 2022 | $61,156,061 | $54,325,184 | $578,280,279 | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 94-2952578).
Questions about LOW INCOME INVESTMENT FUND
- What is the EIN of LOW INCOME INVESTMENT FUND?
- The employer identification number (EIN) of LOW INCOME INVESTMENT FUND is 94-2952578.
- Is LOW INCOME INVESTMENT FUND tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1986.
- Are donations to LOW INCOME INVESTMENT FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does LOW INCOME INVESTMENT FUND file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of LOW INCOME INVESTMENT FUND due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did LOW INCOME INVESTMENT FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of LOW INCOME INVESTMENT FUND?
- The 990 for the year ended June 30, 2025 names DANIEL NISSENBAUM.
- Who are the officers and directors of LOW INCOME INVESTMENT FUND?
- The 990 for the year ended June 30, 2025 lists 25 people; 11 received compensation from the organization, the highest $626,756 (DANIEL NISSENBAUM, DIRECTOR & CEO).
- How much revenue does LOW INCOME INVESTMENT FUND have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $123,432,648, expenses of $72,551,940 and total assets of $786,532,068 at year end.
Other nonprofits in SAN FRANCISCO
- BRIDGE HOUSING CORPORATION EIN 94-2827909 · last filed 990 for 2024
- TENDERLOIN HOUSING CLINIC INC EIN 94-2681706 · last filed 990 for 2025
- DIGNITYMOVES EIN 87-1111468 · last filed 990 for 2025
- THE SAN FRANCISCO HOUSING ACCELERATOR FUND EIN 01-0716217 · last filed 990 for 2025
- TENDERLOIN NEIGHBORHOOD DEVELOPMENT CORPORATION EIN 94-2761808 · last filed 990 for 2024
- CHINATOWN COMMUNITY DEVELOPMENT CENTER INC EIN 94-2514053 · last filed 990 for 2024
- MISSION HOUSING DEVELOPMENT CORP EIN 94-1753722 · last filed 990 for 2024
- MISSION ACTION INC EIN 94-2919302 · last filed 990 for 2025
All nonprofits in SAN FRANCISCO · California · Housing and shelter