# Lisc Fund Management, LLC

> Lisc Fund Management, LLC is an SEC-registered investment advisory firm in New York, NY, registered since 2020, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated July 21, 2026.

- CRD: 304733
- Filed as: LISC FUND MANAGEMENT, LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: July 21, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/304733
- AdvisorCensus page: https://advisorcensus.com/firm/lisc-fund-management-llc-new-york-ny-304733

## Quick answers

**How is Lisc Fund Management, LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Lisc Fund Management, LLC reports these compensation arrangements: a percentage of assets under its management; fixed fees (other than subscription fees); performance-based fees.

**How much does Lisc Fund Management, LLC charge?**
Its Form ADV Part 2A brochure dated July 21, 2026 states: Asset-based fee: 0.25% to 2% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is Lisc Fund Management, LLC located?**
Lisc Fund Management, LLC's principal office is in New York, NY, according to its Form ADV; the August 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Lisc Fund Management, LLC registered with the SEC or a state?**
Lisc Fund Management, LLC is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 304733.

**How much does Lisc Fund Management, LLC manage?**
Lisc Fund Management, LLC reports $614,556,668 in regulatory assets under management in its Form ADV filing dated July 21, 2026 (100% discretionary).

**How have Lisc Fund Management, LLC's assets and staff changed since 2021?**
In the Form ADV data for Lisc Fund Management, LLC: Regulatory assets under management: $591,500,000 in the October 2021 data and $614,556,668 in the October 2026 data, up 4%. Total employees: 10 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Lisc Fund Management, LLC serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (12).

**Does Lisc Fund Management, LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/304733

**What changed in Lisc Fund Management, LLC's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 17 to 14. Regulatory assets under management went from $797,471,470 to $614,556,668 (-23%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated July 21, 2026)

- Asset-based fee: 0.25% to 2% a year (a range, as the brochure states it)

> The Management Fee ranges from 0.25% to 2.00%, on an annualized basis, of the gross asset value of the capital account balances of each Fund Investor, determined as of the beginning of each monthly period.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Regulatory assets under management (Item 5.F)
- Total: $614,556,668
- Discretionary: $614,556,668
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Pooled investment vehicles (other than investment companies and business development companies) | 12 | $614,556,668 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2020 (5 years)
- Employees: 14 total, 14 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: DC, NY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Washington, DC

### Websites listed on Form ADV (Item 1.I)
- lisc.org
- liscfm.com
- liscfm.org
- liscfundmanagement.com
- liscfundmanagement.org
- liscsi.org
- liscstrategicinvestments.org
- Facebook @lisc.org
- Instagram @lisc_hq
- LinkedIn @lisc-fund-management
- LinkedIn @local-initiatives-support-corporation-lisc
- LinkedIn @charlotte-housing-opportunity-investment-fund
- LinkedIn @cleveland-housing-investment-fund
- LinkedIn @dallas-housing-opportunity-fund
- LinkedIn @detroit-housing-for-the-future-fund
- LinkedIn @entrepreneurs-opportunity-community-loan-fund
- LinkedIn @national-strategic-investments-impact-fund
- LinkedIn @new-york-forward-loan-fund
- LinkedIn @pbf-family-of-funds
- LinkedIn @southern-opportunity-and-resilience-fund
- X @LISC_HQ
- YouTube @liscfundmanagement
- YouTube @liscstrategicinvestments
- YouTube @localinitiatives

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $591,500,000 | 10 | March 31, 2021 |
| October 2022 | $748,909,480 | 22 | April 29, 2022 |
| October 2023 | $879,084,480 | 27 | April 27, 2023 |
| October 2024 | $840,021,709 | 10 | June 14, 2024 |
| October 2025 | $797,471,470 | 17 | May 2, 2025 |
| October 2026 | $614,556,668 | 14 | July 21, 2026 |

Regulatory assets under management: $591,500,000 in the October 2021 data and $614,556,668 in the October 2026 data, up 4%.
Total employees: 10 in October 2021 and 14 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 17 to 14.
- Regulatory assets under management went from $797,471,470 to $614,556,668 (-23%).

### January 2026
- No longer lists the business name Lisc Strategic Investments.
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Lisc Fund Management, LLC (CRD 304733): Form ADV filing data as of October 2026.