Board

Maurice Jones, NMSC Chairman
Local Initiatives Support Corporation (LISC)
President and Chief Executive Officer

Mr. Jones is the chairman of the Board of Managers of NMSC. With deep experience in both the public and private sectors, Maurice Jones took the helm as LISC's fourth president & CEO in September 2016. Immediately prior to joining LISC, he served as the secretary of commerce for the Commonwealth of Virginia, where he managed 13 state agencies focused on the economic needs in his native state. He previously served as deputy secretary for the U.S. Department of Housing and Urban Development (HUD) overseeing operations for the agency and it's 8,900 staff members. Prior to that he was commissioner of Virginia’s Department of Social Services and deputy chief of staff to former Virginia Gov. Mark Warner.

Trained as an attorney, Maurice worked during the Clinton Administration on legal, policy and program issues at the Treasury Department, where he also helped manage a then-new initiative called the Community Development Financial Institutions (CDFI) fund—a federal program that has grown to be a critical supporter of nonprofits that leverage its capital to bolster their communities. In the private sector, Maurice was the general manager of The Virginian-Pilot in Norfolk and went on to become president and publisher of its parent company. He also worked for a Richmond law firm and a private philanthropy investing in community-based efforts to benefit children in Washington, D.C.

Raised by his grandparents in a rural southern Virginia community where his family had a tobacco and corn farm, Jones was awarded a full merit scholarship to Hampden-Sydney College, a small liberal arts school. In 1986, he graduated Phi Beta Kappa and was selected as a Rhodes scholar. At Oxford University, he earned a master’s degree in international relations. In 1992, he graduated from the University of Virginia Law School.

Michael Hearne
Local Initiatives Support Corporation (LISC)
Executive Vice President and Chief Financial Officer

Mr. Hearne joined LISC in 2014 as Chief Financial Officer. He was most recently managing director of M&H Properties in Annapolis, where he bought, sold, and launched a range of commercial enterprises over 17 years. He previously served as president of Lafayette Credit Union, which he expanded beyond its base of federal employees to more broadly serve Washington, D.C. residents, and president and co-founder of Business DataSource, a financial consulting firm. Mr. Hearne's background encompasses a broad range of relevant experience, from loan syndication and securitization to navigating complex federal regulations. He has developed risk management models based on loans made by the Department of Housing and Urban Development and the Small Business Administration and created marketing databases related to bank community development investments.

Michael Levine
Local Initiatives Support Corporation (LISC)
Executive Vice President/General Counsel/Corporate Secretary

Mr. Levine oversees the legal affairs of LISC as well as the organization's Legal, Administrative Services and Grants and Contracts Management departments.  In 2014, the National Law Journal named him one of America’s 50 Outstanding General Counsel. He is a founding member of LISC’s Rural Advisory Committee and is also chairman of Neighborhood Properties, LLC, and Restore Neighborhoods, NYC, LLC, two LISC subsidiaries.  In addition to his work with NMSC, he is a member of the New Markets Advisory Committee for CEI Capital Management LLC, the New Markets subsidiary of Coastal Enterprises, Inc.  He formerly served as president of The Retail Initiative, Inc. (“TRI”), a LISC subsidiary focused on investing in supermarket-anchored commercial shopping centers in inner-cities. Prior to joining LISC after law school, Mr. Levine clerked for Judge Pierre Leval of the Southern District of New York, and then was an associate at the New York City law firms of Simpson, Thacher and Bartlett, and Shereff, Friedman, Hoffman and Goodman.

Denise Scott
Local Initiatives Support Corporation (LISC)
Executive Vice President for Programs

With three decades of experience in community development, Ms. Scott leads LISC’s neighborhood investment efforts in 30 cities and in rural areas in 39 states. She previously managed LISC’s flagship program in New York City, focusing on affordable housing, commercial corridors, education, health and jobs in some of the city’s toughest neighborhoods.  Prior to joining LISC, Ms. Scott spearheaded a range of public and nonprofit initiatives with the U.S. Department of Housing and Urban Development, the Upper Manhattan Empowerment Zone Development Corporation, the New York City Urban Coalition, the New York City Mayor's Office of Housing Coordination and the New York City Department of Housing Preservation and Development.

Joseph S. Hagan
National Equity Fund, Inc (NEF)
President and Chief Executive Officer

Mr. Hagan has worked for nearly 40 in support of affordable housing and community development. He joined NEF in 2000 as president and CEO. Under his leadership, the company manages more $8.8 billion in private-sector investments through the Low Income Housing Tax Credit program. Prior to joining NEF, Mr. Hagan was with Bank One where he managed LIHTC and other capital markets activities. In addition he was the founder and president of Ohio Capital Corporation for Housing, the largest state equity fund, served as director of Rental Housing Programs for the Ohio Housing Finance Agency, directed the Pickaway County Metropolitan Housing Authority and managed a community-based nonprofit development corporation in Columbus, Ohio.

Elise Balboni
Local Initiatives Support Corporation (LISC)
Senior Vice President for Lending

Ms. Balboni manages LISC’s lending activity across the country.  Previously, she served as a consultant for nonprofits and foundations in the area of charter school facility financing and as LISC’s vice president of education programs, where she had responsibility for oversight of the Educational Facilities Financing Center.  Prior to that, Ms. Balboni served as an associate in municipal finance at CS First Boston and Cambridge Partners, where she participated in numerous tax-exempt and taxable municipal financings, and as budget director for the Massachusetts Senate Committee on Ways and Means, where she oversaw development of the Commonwealth’s budget on behalf of the State Senate. 

Matt Josephs
Local Initiatives Support Corporation (LISC)
Senior Vice President for Pol
icy

Mr. Josephs leads LISC’s federal policy efforts--developing, communicating and pursuing LISC's policy agenda with members of Congress and other federal officials. He joined LISC in 2012 after serving for 13 years at the Treasury Department’s Community Development Financial Institutions (CDFI) Fund -- most recently as Senior Advisor for Policy.  While there, he spent six years as the program manager of the New Markets Tax Credit (NMTC) Program. Prior to joining the CDFI Fund, Mr. Josephs was a staffer for the Senate Committee on Banking, Housing and Urban Affairs, where his portfolio of issues included public and assisted housing programs, homeless programs, FHA insurance, and HUD reform. He also served as a policy analyst with the Department of Housing and Urban Development’s office of Public and Indian Housing.