LISC Names JPMorgan Chase Exec Parkhill to Board

News provided by

Local Initiatives Support Corporation

Sep 27, 2010, 02:46 ET

NEW YORK, Sept. 27 /PRNewswire-USNewswire/ -- The Local Initiatives Support Corporation (LISC) has elected JPMorgan Chase executive Karen Parkhill to its national board of directors. LISC is the leading national community development support organization, with $9.7 billion invested in the lasting revitalization of low-income communities.

Parkhill became chief financial officer of Chase Commercial Banking in 2006 after serving as a managing director in Investment Banking at J.P. Morgan, which she joined in 1992. She currently serves on the board of regents for Mercy Home for Boys and Girls in Chicago and is a former director of the YWCA of Metropolitan Chicago as well as former chair of its Presidents' Advisory Council. She earned a bachelor's degree from Southern Methodist University and an M.B.A. from the University of Chicago and is a member of the Economic Club of Chicago.

"We are excited to have the benefit of Karen's tremendous experience and thoughtful insight as we pursue our Building Sustainable Communities agenda," noted Michael Rubinger, LISC president and CEO. "Karen represents a company that has made remarkable contributions to community revitalization and to LISC, and her commitment to the needs of disadvantaged families and individuals will be a valuable addition to our strategic perspective."

Building Sustainable Communities is LISC's innovative, comprehensive approach to neighborhood revitalization. It goes beyond the traditional project-by-project model for community development—which focuses largely on the "built" environment—and develops plans and programs that drive significant, sustainable improvements in the quality of life. LISC's work focuses on five key areas: expanding investment in housing and other real estate; increasing family income and wealth; stimulating economic development; improving access to quality education; and supporting healthy environments and lifestyles.

Parkhill joins a 23-member LISC board that includes representatives of leading foundations, community-based organizations, financial institutions and other corporations with a strong interest in community development that promotes opportunity and lasting change.

About LISC

LISC combines corporate, government and philanthropic resources to help nonprofit community development corporations revitalize distressed neighborhoods. Since 1980, LISC has raised more than $9.7 billion to build or rehab more than 271,000 affordable homes and develop 40 million square feet of retail, community and educational space nationwide. LISC support has leveraged $31.1 billion in total development activity. For more information, visit www.lisc.org.

Contacts:

Colleen Mulcahy, LISC Communications

312-342-8244 or [email protected]

SOURCE Local Initiatives Support Corporation