Support for Affordable Housing Programs

The Federal Housing Finance Agency (FHFA) was established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the supervision, regulation, and housing mission oversight of the 11 Federal Home Loan Banks (FHLBanks, FHL Bank System), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). FHFA's mission is to ensure that these regulated entities operate in a safe and sound manner so that they serve as a reliable source of liquidity and funding for housing finance. Since 2008, FHFA has also served as conservator of Fannie Mae and Freddie Mac.

The FHLBanks support a range of low-income housing and community development activities through three programs: the Affordable Housing Program (AHP), the Community Investment Program (CIP), and the Community Investme nt Cash Advance Program (CICA). Under these programs, the FHLBanks provide loans (referred to as advances) and grants to their members, and their members then use these funds to benefit very low - and low - or moderate - income households and communities.

The FHLBanks awarded approximately $322 million in total AHP funds in 2015, helping over 36,000 low - or moderate - income households including about 20,000 very low-income households. Through the CIP, the FHLBanks also funded approximately $3.2 billion in targeted housing and economic development advances in 2015, an increase of over 33 percent from 2014. The program assisted almost 39,000 housing units. The FHLBank's CICA funding, which supports targeted economic development, was about $4 billion in 2015, approximately 48 percent higher than in 2014.

The FHL Banks also support low-income housing and community development through other activities, including their non-depository Community Development Financial Institution (CDFI) memberships

At the end of 2015, 41 non-depository CDFIs were FHLBank members, and they had outstanding advances of approximately $114.5 million. Additionally, each FHLBank is subject to housing goals if its Acquired Member Assets (AMA) purchases exceed an annual volume threshold of $2.5 billion. While one FHLB ank exceeded this level in 2015 and FHFA is evaluating whether that FHLBank met the housing goals for 2015, regardless of that FHLBank's performance against the goals, FHFA will not require it to take any remedial steps because FHFA is in the process of reviewing and possibly updating the regulation.

Source: Federal Housing Finance Agency

Foundation and philanthropic support for affordable housing and community investment from around the Web.



Call for Nominations: Invest in California’s Future
Foundation: James Irvine Foundation, Irvine Foundation

The James Irvine Foundation announces its open nominations for the 2021 Leadership Awards. The Awards recognize exceptional leadership, characterized by significance, innovation, effectiveness,...more

Giving Away Silicon Valley’s Billions
Foundation: Silicon Valley Community Foundation

Stanford Magazine highlights Nicole Taylor, president and CEO of Silicon Valley Community Foundation (SVCF), who plans to put the 'community' back in 'community foundation.' As SVCF's new...more

Lessons from Facebook’s $1B Housing Crisis Investment
Foundation: Nike

Facebook is one of the most recent examples of big tech making investment to ease California's housing crisis, which has led to a homelessness epidemic in recent years. Facebook has pledged $1...more

What Impact Investing Needs to Move Forward

Beth Ambrose, director at Upstream Sustainability Services at JLL, addresses what impact investing needs to move forward. According to Ambrose, as impact investing starts to gain more traction...more

Hong Kong Social Entrepreneur Pitches Rental Affordability Solution for Vancouver

Light Be, a Hong Kong for-profit company that aims to achieve social outcomes, connects needy applicants with discount rentals, but terms of arrangement clash with B.C. law. Social entrepreneur...more

How a Tax Break to Help Poor Communities Became a Windfall for the Rich

The Trump administration's multibillion-dollar tax break that is supposed to help low-income areas became a windfall for the wealthiest Americans. The goal of the tax benefit was to persuade...more

New NYC Program Pairs Homeless Youth with Seniors with Extra Bedrooms

The Home Sharing Program, which recently launched in all five New York City boroughs, pairs homeless youth with senior citizens who have extra rooms in their apartments. According to Lorraine...more

Facebook Pledges $150 Million to Bay’s Future Fund and Affordable Housing
Foundation: San Francisco Foundation

Facebook commits $150 Million to Bay's Future Fund. LISC will help put these dollars to work promoting affordable housing development in the San Francisco Bay Area. The commitment from Facebook...more

A Community Rises in a Historic Albuquerque Neighborhood

Nonprofit Quarterly launches the second season of its Remaking the Economy webinar series. Each webinar will focus on a specific region or community. This webinar features the 501c3 nonprofit,...more

Changing Health by Changing the Community

In an op-ed for the Richmond Times-Dispatch, LISC CEO Maurice A. Jones and Howard Kern, president and CEO of Sentara Healthcare, describe how their new $100 million investment will take aim at the...more




Largest Foundation Support for Human Services for 2012

Want to find foundation giving by subject area? see here



Rank
Foundation
Grants
Total Given
1
238
130,480,094
2
718
80,311,627
3
117
79,529,515
4
220
70,345,234

Find Top Fifty Foundation Givers

Source: Foundation Stats (Foundation Center) / CC BY-NC-SA 4.0



Grants News from around the Web




Social Entrepreneurship
Spotlight



Link Group Honored ‘Scottish Social Enterprise of the Year’


Link Group Honored ‘Scottish Social Enterprise of the Year’

Link Group Ltd., a rent and sale home provider, has been named 'Scottish Social Enterprise of the Year’ in the 2013 Social Enterprise Scotland awards.


Unable to select database


Federal Government Grant and Assistance Programs



Edited by: Michael Saunders

© 2008-2020 Copyright Michael Saunders