2017 Symposium Industry Report: Pay for Success

The NHP Foundation—What We Do and Why

The increasing scarcity of safe and affordable housing is a growing threat to our nation. Unfortunately, this threat is often invisible to all but the low and moder- ate income families and seniors who are quietly denied adequate shelter. As reported by Harvard University’s Joint Center for Housing Studies in The State of the Nation’s Housing 2017 , the number of renter households has been steadily rising. Sadly, more than a quarter of that growth represents house- holds subsisting on less than $15,000 in annual income. An additional 30% of that increase is attributed to households surviving on only $15,000–$29,999 in income during the course of a year. These are clearly Americans for whom the operating margins to keep a roof over their heads are unspeakably tight. Because the vast majority of renters are forced to spend a high per- centage of their income to secure affordable housing, they are left with insuffi- cient resources for proper nutrition, healthcare, and other basic necessities. For a young working family with small children or a senior on a fixed income, as well as recent high school and college graduates now entering the labor force and housing market, the lack of safe and affordable housing sets up a harmful pattern with little opportunity to escape. As quality housing conditions become unaffordable to more and more Americans, this crisis threatens to escalate into a fundamental human rights issue. Headquartered in New York City with offices in Washington, D.C., and Chicago, IL, The NHP Foundation (NHPF) was launched on January 30, 1989, as a publicly supported 501(c)(3) mission based not-for-profit real estate corpora- tion. With a portfolio that spans 15 states and the District of Columbia, NHPF is dedicated to preserving and creating sustainable, service-enriched multifamily housing that is both affordable to low and moderate income families and seniors, and beneficial to their communities. NHPF’s diverse properties are service-enriched by Operation Pathways, an affiliate program of NHPF. Our experience demonstrates that a robust ser- vice program catering to the needs of residents is directly correlated to higher standards of living, higher reported satisfaction with living conditions, and safer communities with lower costs and burden to local law enforcement agencies. By partnering with local not-for-profit service providers familiar with the neighbor- hood, Operation Pathways enriches the lives of residents with afterschool pro- gramming, summer education, and wellness and savings programs, all geared to helping lower income Americans and their children succeed.

Pay for Success & Affordable Housing | Stefano Rumi 7

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