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Investing for Impact: Lessons from MacArthur Foundation’s Window of Opportunity Initiative

October 1, 2020

As the economic crisis precipitated by the COVID-19 pandemic has unfolded in 2020, nonprofit institutions have stepped up to provide shelter for the homeless, food for the hungry, and health care for those in need. Afinancially strong nonprofit organization that can provide this support through economic downturns does not happen by itself, however. It takes planning, investment, skill and hard work. As funders, policymakers, and practitioners consider how to foster financially strong nonprofit institutions that can help with the current and future crises, it is worth reflecting on the effectiveness of past efforts to support the growth of nonprofit institutions.In the early 2000s, the John D. and Catherine T. MacArthur Foundation (MacArthur) launched one such effort. MacArthur sought to support the growth and sustainability of a group of nonprofit affordable housing developers through program-related investments (PRIs) that provided long-term flexible equity-like capital. This report summarizes the results of Abt Associates' evaluation of this initiative. Among other conclusions, Abt found that these investments played an important role in helping the developers survive and even thrive during the last major economic upheaval, the Great Recession. The flexible financing provided by the PRIs helped the nonprofit developers achieve larger scale, improve financial and staff capacity, and react creatively to changes in economic and social conditions.

Investing for Impact: Lessons from MacArthur Foundation’s Housing Preservation Initiative

July 1, 2020

As the economic crisis precipitated by the COVID-19 pandemic has unfolded in 2020, nonprofit institutions have stepped up to provide shelter for the homeless, food for the hungry, and health care for those in need. A financially strong nonprofit organization that can provide this support through economic downturns does not happen by itself, however. It takes planning, investment, skill and hard work. As funders, policymakers, and practitioners consider how to foster financially strong nonprofit institutions that can help with the current and future crises, it is worth reflecting on the effectiveness of past efforts to support the growth of nonprofit institutions.In the early 2000s, the John D. and Catherine T. MacArthur Foundation (MacArthur) launched an effort to support the growth and sustainability of a group of nonprofit affordable housing developers through program-related investments (PRIs) that provided long-term flexible equity-like capital. This brief summarizes the results of Abt Associates' evaluation of this initiative. Among other findings, Abt found that these investments played an important role in helping the developers survive and even thrive during the last major economic upheaval, the Great Recession. The flexible financing provided by the PRIs helped the nonprofit developers achieve larger scale, improve financial and staff capacity, and react creatively to changes in economic and social conditions.

Preserving, Protecting, and Expanding Affordable Housing: A Policy Toolkit for Public Health

April 7, 2015

Resurgent interest in urban living is helping to revive neighborhoods in numerous American cities, stabilizing populations and sometimes beginning to reverse previous declines. One consequence of the influx of residents is new public and private investment in amenities such as parks, bike paths and grocery and other stores. However, new demand and investment can also drive up housing costs. That's particularly true in areas that have traditionally been affordable to low- and moderate-income individuals and families, notes a report by ChangeLab Solutions. With support from Kresge's Health Program, the nonprofit ChangeLab Solutions developed a guide to help practitioners and community advocates preserve and expand the number of affordable rental housing options in high-demand neighborhoods. The guide is aimed at practitioners who work at the intersection of housing and health, an area of increasing emphasis for Kresge's Health Program.The ChangeLab team has produced a policy toolkit with information on housing market trends and research on the links between rising housing costs and poor health outcomes. The toolkit identifies strategies to help ensure that households of all incomes have housing options in the areas where they want to live. It covers six policy areas: preservation, protection, inclusion, revenue generation, incentives and property acquisition.

American Recovery and Reinvestment Act: A Guide to Housing Related Opportunities for Making Connections Communities

July 31, 2009

Outlines stimulus funding for housing-related programs and coordinated strategies to help low-income communities benefit. Suggests policies to promote, including advancing green and healthy housing and addressing the foreclosure crisis. Lists resources.

Impacts of Homeownership Education and Counseling on Homebuyer Purchasing Power: Summary of Findings

November 1, 2007

In addition to reducing defaults and foreclosures, homeownership education and counseling is often claimed to help families achieve homeownership in the first place by helping them to navigate the homebuying process, improve their credit, and access favorable financing products. This study tests an approach to quantifying this benefit by estimating the amount of increased purchasing power that results from homeownership education and counseling. While the results are preliminary, they provide early suggestive evidence that high-performing homeownership education and counseling agencies may provide quantifiable benefits that exceed their costs of assistance. The study also makes recommendations for how data could be collected on a more systematic basis to track and assess these benefits.

Increasing the Availability of Affordable Homes: A Handbook of High-Impact State and Local Solutions

January 1, 2007

Identifies six broad strategies and twenty-two high-impact policies that state and local leaders can employ to increase affordable homes for working families.