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.



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

New Census Data Shows Widening Gap Between Income and Rents

Alicia Mazzara, senior research analyst, discusses a new Census data that shows the widening gap between median renter income and median rent where the data underscores the continued need for...more

Innovative Southern California Businesses Address Homelessness

According to a 2019 point-in-time count, there are more than 612 unsheltered homeless individuals in the Coachella Valley. A Southern California company, Renova Energy, has handed out a few dozen...more

Seattle Has Figured Out How to End the War on Drugs

In a New York Times post, written by Nicholas Kristof, columnist and two-time Pulitzer Prize winner, it tackles the city of Seattle's bold approach to narcotics. According to Kristof, Seattle is...more

How Impact Investing Can Foster Affordable Housing

This opinion piece from MarketWatch highlights workforce housing, where impact investors can leverage on to create affordable housing. Meredith Jones, an alternative-investment consultant and...more

Helping Communities Tackle the Housing Crisis

The Community Land Trust (CLT), a type of community-led housing, set up and run by ordinary people to develop and manage homes or assets, is now in its tenth year. CLTs are charitable...more

Fast Forward Adds Funding to Tackle Silicon Valley's Growing Inequality
Foundation: Google.org

Fast Forward, a San Francisco-based accelerator of tech nonprofits, has raised $5 million in new philanthropic funding from big companies, such as Google.org, Twilio.org, Blackrock, the Hewlett...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



Social Enterprise Trains Migrants and Refugees with Fashion-Industry Skills


Social Enterprise Trains Migrants and Refugees with Fashion-Industry Skills

Sydney TAFE has teamed with a new clothing and retail social enterprise, The Social Outfit charity, to launch a dynamic collaboration that would enable students to gain real fashion industry skills and take on their own creativity and rich cultural heritage to produce garments for The Social Outfit’s store and adjoining workshop in Newtown.




Social Sector Jobs

  Human Services Jobs
  Fundraising & Development Jobs
  Social Work Jobs
  Executive Director Jobs
  Program Director Jobs



Federal Government Grant and Assistance Programs



Edited by: Michael Saunders

© 2008-2019 Copyright Michael Saunders