NHPF Annual Report 2022: Supporting Affordable Housing

Letter from the Board of Trustees

Trustees Ralph F. Boyd, Jr., Chair Glynna K. Christian, Vice Chair Robert H. Abrams Richard F. Burns Sarah E. Feinberg Cherie Santos-Wuest Sheldon L. Schreiberg

REGARDING BOARDS OF TRUSTEES, you may be familiar with the three responsibilities of an effective board. They are “duty of care,” “duty of loyalty,” and “duty of obedience.” When it comes to the roles of the NHPF Board of Trustees in this past year, we are particularly proud of our adherence to these important duties. “DUTY OF CARE” Our board is comprised of ten individuals whose focus includes constructing affordable housing but whose vision includes what additional measures best benefit residents of such housing. Provision of services best exemplifies these measures and the NHPF board balances each development decision with the ability to build in onsite resident services as well as permanent supportive services, which are becoming increasingly important to affordable housing of today and the future. Our diverse board includes members with heavy non-profit experience as well as investment, legal and other areas of expertise, and we provide counsel to NHPF leadership on a variety of topics. For example, this past year the Board approved an increase in cybersecurity insurance further safeguarding NHPF employee communications and transactions. “DUTY OF LOYALTY” What does loyalty mean to the NHPF Board? In its 30+ years of service, NHPF has been fortunate enough to have had an illustrious mix of skilled and talented trustees. Several have continued to provide counsel to the organization, as well as financial contributions, long past their tenure on the board. This past year, in response to members’ request to expand roles in order to do more for the organization, we named a Vice Chair of the board. We also see many of our past and present members take part in NHPF’s Annual Symposium, which raises in excess of $500,000 each year and is revered as an industry event standout and award winner. It seems the work we do inspires our trustees to continue to give of themselves even as they move onto other endeavors. “DUTY OF OBEDIENCE” The simplest definition of obedience is “compliance with an order, request, or law.” In the context of the NHPF Board of Trustees, it is simple. We are there to ensure that every transaction NHPF undertakes, particularly those with complicated infrastructures such as this past year’s first scatter site home rental development, Hollander Ridge, adheres to organization and industry guidelines. We are here to observe that major organization policy ideas, such as intensive DEIJ employee training and new hiring practices, are implemented with care. Finally, in this past year, as well as those to come, we are a sounding board for future innovations the organization is continuously bringing to bear to keep NHPF at the forefront of creating and preserving as much affordable housing as we can.


Charu Singh Grace Torres Adam Weers

Ralph F. Boyd, Jr., Chair

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