NHPF Annual Report 2011

Building upon a firm foundation . . .

IN 2011, THE NHP FOUNDATION (NHPF) successfully built upon the organizational improvements implemented in 2010. We are pleased with the progress made in 2011, and eager to continue implementing our goals in 2012 and beyond. We invite you to read about the accomplishments highlighted in this annual report. For more than two decades, NHPF has remained steadfast in our commitment to preserving and creating affordable housing for low- and moderate-income families and seniors. In 2011, we reaffirmed that commitment with the creation of the NHPF Affiliate Program. We welcome the Falls Church Housing Corporation as the first NHPF Affiliate. Through acquisition, rehabilitation, and development, we are maximizing the sustainability of our affordable housing portfolio. Given NHPF’s longstanding presence in Washington, DC, we are particularly pleased to have broken ground in December on our first affordable housing project in the Nation’s Capital—Alabama Avenue Affordable Senior Housing. This project is our second NHPF Affiliate. Our resident services division—Operation Pathways—plays a critical role in turning rental housing properties into thriving communities. We are proud to have directed almost $865,000 to fund the many Operation Pathways programs, and thank the national funding organizations who joined NHPF in giving their support. Going forward, we have laid the groundwork to accelerate our efforts. This will be greatly facilitated by our new joint venture with a major financial institution and Urban Atlantic, an experienced affordable housing developer and investor. This venture will begin with a $50 million fund to facilitate the acquisition and preservation of affordable housing properties. The critical shortage of affordable rental housing in this country shows no signs of abating. That is why our commitment to preservation, and your ongoing support of NHPF, remain imperative.

Thomas Carr

Richard F. Burns

Chairman, Board of Trustees

Chief Executive Officer

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