Within the United States, no coordinated national policy exists regarding urban poverty. Local governments instead must work to leverage functional programs undertaken by other governmental entities, and involve themselves in intersectoral networks of private, non-profit, and government agents. Within this complex governance landscape, nonprofit and philanthropic organizations play a critical role as intermediary organizations that channel information and advocate on behalf of neighborhood stakeholders. The literature has been attentive to the relationship between effective governance and social capital; however, we argue for the need to consider the institutional underpinnings of organizational social capital—trust-based networks among organizations (Schneider, 2009)—to understand better the role it plays in supporting neighborhood regeneration. We argue in particular for the need for more attention to how neighborhood contexts condition the development, nature and influence of organizational networks through an exploratory study of intersectoral networks and neighborhood regeneration policy in three lower-income Los Angeles neighborhoods.