The NHP Foundation (“NHPF”) was organized on January 30, 1989, as a publicly supported 501(c)(3) nonprofit corporation with a mission dedicated to making investments that preserve and create affordable multifamily housing for low- to moderate-income families and seniors. The Foundation also provides a comprehensive array of programs and services to enhance the quality of life for its residents. On July 1, 1993, NHPF received its tax exempt determination letter from the Internal Revenue Service. NHPF’s major objectives are to:
• acquire, operate and preserve existing low income housing
• lessen the burdens on government through the provision of such housing
• combat community deterioration
NHPF has built a national portfolio of moderate- and low-income rental properties. An integral component of NHPF’s mission is also to provide resident services tailored to the needs of the residents of its properties, as well as the surrounding communities, where appropriate. Over the two last decades, NHPF has procured and preserved 43 properties, consisting of approximately 9,000 units. NHPF currently owns 30 properties in 15 states, comprised of approximately 7,455 units serving over 20,000 residents. These properties are located in
• Connecticut
• District of Columbia
• Florida
• Louisiana
• Maryland
• Massachusetts
• Missouri
• New Jersey
• New York
• Ohio
• Pennsylvania
• Texas
• Virginia
NHPF was launched with $6 million in contributions from 24 major corporations. By building partnerships with major financial institutions, the public sector, and other nonprofit entities, NHPF has leveraged its initial philanthropic support into a portfolio of properties with an aggregate book value of $180 million by operating with the management and financial discipline of a for-profit enterprise. NHPF provides quality, affordable housing for very low, low, and moderate-income residents. Tenants earning less than 50 percent of the area median income are classified as “very low income,” and “low income” residents earn less than 80 percent of the area median income. The cost of new construction is high, and public funding for new affordable housing is low, so NHPF places great value on the preservation of existing affordable housing. By successfully pursuing strategies under federal and state housing agency funding, NHPF has acquired existing housing at relatively low cost for the purpose of creating new affordable housing. NHPF rescues affordable rental housing from for-profit owners who either can no longer afford the investment or prefer to profit from more lucrative housing scenarios. Once a property is rescued, it is refurbished and maintained at a level exceeding that of most privately owned affordable housing. In addition, many NHPF properties offer amenities not typically found in communities that serve working families, such as landscaped grounds that include lakes, pools, and expansive lawn areas. The apartments also typically feature spacious rooms, large windows, and modern amenities. OPERATION PATHWAYS is the resident services division of The NHP Foundation and serves the residents in our housing communities with the following 3 components. Pathway to Academic Achievement focuses on the educational needs of residents. Operation Pathways promotes academic success and lifelong learning as a means to break the cycle of poverty. Some programs offered in this category are:
• Project JumpStart: School readiness instruction for young children and parents
• Brighten Up: Out-of-School Time programming focused on in-school success
• YES Brigade: Helping teens complete high school graduation requirements
Pathway to Healthy Living promotes activities and lifestyles that lead to physical, psychological and emotional wellbeing for individuals and communities. Some programs offered in this category are:
• Fit for Life: Sports and exercise activities for residents of all ages
• Cook Lite/Eat Right: Food and nutrition program focused on healthy diets
• Healthy Parents/Healthy Children: Health program designed for young parents
Pathway to Self-Sufficiency captures all programming designed to lead people away from dependence on government and/or social service programs. Some programs offered in this category are:
• Saving for tomorrow: Financial literacy – educating on credit & saving
• Homeownership: Workshops for first-time homebuyers
• Tech Connect: Technology workshops – from employment to enjoyment
