Transforming Growing Pains into Growing Gains
LET ME START THIS LETTER by calling your attention to The NHP Foundation (NHPF) mission and vision statements on the left facing page. They guide us in everything we do as we enter our second quarter-century. Our hard work in 2015 has driven our progress in a number of important areas. Despite systemic challenges, we have continued to build our portfolio of safe, clean, green, and much needed housing, affordable to low and moderate income families and seniors. New partnerships in the NHPF Affiliate Program have increased our capacity to offer housing in several markets including Chicago and Washington, DC. We expect this program will be an important driver of new business in the coming years. In January 2016, we prepared for that growth by opening a third NHPF office in Chicago. In NHPF’s history, 2015 marks the first time our footprint extended to the states of Tennessee and Illinois. We now have properties in 14 states and the District of Columbia. The resident services we provide through our Operation Pathways program have grown to the point that it was ready to be its own independent, not-for-profit corporation, now a NHPF affiliate. We continue to benchmark the success of our programs, important not only for funders, but also to continually adjust program specifications for maximum outcomes. Since 2009, our portfolio occupancy rate has grown from 83% to an all-time high of 97% this past year thanks to the hard work of our asset management staff. I invite you to read about our financial health and the acquisitions, community preservations, and new developments that have been completed in 2015 or are firmly in our 2016 delivery pipeline. In a departure from earlier annual reports, we have included excerpts of an NHPF white paper published by Affordable Housing Finance in late 2015 and summarized here on pages 12 and 13. Now is the time to call on government officials and the philanthropic community to create smarter policies and devote greater financial resources to ensure affordable and socially just housing for every American. Finally, please note the names of the financial partners, trustees, officers, and staff members making NHPF’s growing gains possible. Their many contributions are all greatly appreciated.
Richard F. Burns NHPF President & Chief Executive Officer
Annual Report NHPF Fiscal Year 2015
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