The Home Funders collaborative brings together private investors who are using philanthropic dollars to promote the development of affordable housing for homeless and other extremely low-income (ELI) families in Massachusetts.  These funders came together in order to have a more significant impact on the most critical cause of family homelessness – the lack of truly affordable housing.  They concluded that unless families have a stable place to live, all other social investments have no lasting value.

Home Funders website:

• www.homefunders.org/
  

How Home Funders works:

• To date, Home Funders has financed 1,554 units with 437 for extremely low income families.
• Through low-interest loan products, we create an incentive for developers to access existing funding streams and jumpstart the building of housing for extremely low income families. We integrate families into mixed-income units rather than create blocks of low-income units.
• Investors make either Program Related Investments (PRIs) at 1% interest or grants for lending purposes. 
• Additional grants support complementary public education, public policy advocacy, administration and transitional services .

Convening Organization/Funders Together Contacts:

• Geeta Pradhan, The Boston Foundation, geeta.pradhan@tbf.org
• Elizabeth Smith, The Hyams Foundation, esmith@hyamsfoundation.org
• Deb Fung, Paul and Phyllis Fireman Foundation, dfung@ppffound.org

News and Updates on Programs and Priorities:

• Home Funders program summary and evaluation (2006)
• Patrick-Murray Administration Reform Initiative focuses on more permanent housing and reducing the need for shelters to serve the homeless
  

Are you a funder in Massachusetts interested in being part of this state-wide network?

• Sign up to join today.