SOURCE: Neighborworks America

NeighborWorks America

March 03, 2016 12:17 ET

NeighborWorks America Makes $60 Million in Grants to NeighborWorks Network in 2016

Funds Are Essential to Strengthening Nonprofits and Leveraging Private Sector Capital

WASHINGTON, DC--(Marketwired - March 03, 2016) - At a time when communities need resources most, hundreds of communities across the nation will receive a much-needed affordable housing and economic development boost as NeighborWorks America distributes more than $60.57 million in flexible grants to its national network of more than 245 local nonprofit NeighborWorks organizations. 

"NeighborWorks America is proud to distribute these congressionally appropriated funds to nonprofit businesses across the country to support their excellent work in communities. The NeighborWorks network organizations create opportunities for people to live in affordable housing, improve their lives, and strengthen their communities. We at NeighborWorks America focus on being careful stewards of the resources the taxpayers have entrusted to us by providing these resources to a network of high-caliber nonprofits," said NeighborWorks America's President and CEO Paul Weech.

"A strong indicator of the value of these grants is that in FY 2015, we leveraged $50 dollars of other investments for every $1 in federal appropriation -- resulting in a direct investment of $6.7 billion in communities last fiscal year including nearly $2 billion in rental housing investment, while creating and maintaining more than 30,000 jobs. NeighborWorks' investments are working to truly make a difference in communities across the country."

The nonprofit organizations in the NeighborWorks network provide a wide array of housing and other services to their communities. The network organizations improve homeownership opportunities for low- and moderate-income families; provide financial education and improve financial capability; rebuild and repair properties; construct and preserve affordable rental homes; and use innovative strategies to provide services, improve safety, and revitalize communities across the nation. Moreover, NeighborWorks organizations strengthen communities by offering programs that complement their housing work, including the more than 200 organizations that provide health and nutrition intervention, 125 that provide education services, and 56 that offer workforce development opportunities. 

In FY 2015, NeighborWorks and the NeighborWorks network assisted over 355,900 families, including:

  • 21,700 homeowners created
  • 15,400 quality, affordable rental homes developed
  • 15,700 affordable homes preserved
  • 63,300 homes repaired
  • 142,600 quality, affordable rental homes owned and/or managed
  • 30,100 jobs created and maintained
  • 110,400 families and individuals counseled on financial capacity, pre-purchase, post-purchase, or foreclosure issues, and
  • 20,500 training certificates issued

About NeighborWorks America
For more than 35 years, NeighborWorks America, a national, nonpartisan nonprofit, has created opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $24.5 billion in reinvestment in these communities. NeighborWorks America is the nation's leading trainer of community development and affordable housing professionals.

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