Reflecting on 40 Years of Opportunity

NeighborWorks America Annual Report, Fiscal Year 2018 A Letter from the Board Chair & CEO

Is it possible to have a year that is profoundly shaped by change and consistency at the same time? We think so — and for all the best reasons.

That certainly was true for NeighborWorks America in 2018, a year that marked our 40th anniversary. Four decades is a milestone to be excited about, but for more than just our longevity. Over the years, whether assisting tens of thousands of families with the dream of homeownership, providing affordable rental housing, helping homeowners recover from one of the worst housing and financial crises in recent history, or being on the ground to provide critical assistance and education for communities regrouping and rebuilding after devastating natural disasters, NeighborWorks America has been a leader in working collaboratively to develop innovative solutions for our network’s short-term needs and long-term goals. As we looked back over the last 40 years, we celebrated our role as a reliable, steadfast resource for our network, while at the same time growing and improving the training, technology, programs and services we offer to affordable housing and community development professionals. Our mission to create opportunities for people to live in affordable homes, improve their lives and strengthen their communities, remains unchanged, but how we go about achieving it must evolve, and we must be proactive in that pursuit.

This important work can’t be done without its most essential component: our people. That was as true in 1978 as it is today. Our leadership ---- NeighborWorks America’s officers and senior team, working hand in hand with our board of directors ---- is dedicated to ensuring that we’re being good stewards of our government appropriation, continually responding to the needs of our diverse network and delivering value, while also fostering a problem-solving, opportunity-driven culture within NeighborWorks. We have nearly 300 people that come to work every day ready to make a difference. Our people are dedicated to NeighborWorks’ values, and that is a very positive place from which to go forward. We want to ensure that everyone at NeighborWorks America, regardless of position, understands how vital their role is to our mission.

Our people are where the good work begins. And it ends with the thousands of folks working locally in small rural towns, large urban centers and everywhere in between throughout this country. This powerful synergy is critical to building strong communities, nationally and at the local level, where the impact truly is the greatest. Part of that winning formula is making sure that we listen to what is top of mind for people in every household and community we serve, what they’re excited about, what obstacles they face, and where we can find opportunities to thrive together.

As we enter the next chapter in NeighborWorks America’s development, we are encouraged to see this organization become even more adaptive to change, especially in the use of new technologies to reach potential clients and customers, and in our ability to develop revenue streams outside of traditional funding sources. As you read through this annual report, you’ll learn more about what makes us tick — a snapshot of the people, places and programs that make up NeighborWorks America, what we’ve done and what we plan to do.

We are confident that NeighborWorks America will remain at the forefront of affordable housing and the broader community development field as we enter our 41st year of service and long after. Here’s to the next 40 years.

Grovetta N. Gardineer Marietta Rodriguez Chair, NeighborWorks America Board of Directors President and CEO, NeighborWorks America

1 About Us Main Office Every organization should have its “elevator pitch” about who they are As the nation’s leading trainer of community-development and affordable-housing Where We Are and what they do. That’s the easy part, right? professionals, providing in-person, place-based and online training options, we Washington, D.C. distributed nearly 15,000 training certificates in FY 2018. Under our training umbrella, 999 North Capitol Street NE, Washington, D.C. 20002 NeighborWorks America is a congressionally chartered and funded nonpartisan we continued to offer certification from the NeighborWorks Center for Homeownership Phone: (202) 760-4000 nonprofit. We provide communities ---- through our network of nearly 250 member Education and Counseling, which shows employers, peers, potential clients and organizations in every state, the District of Columbia and Puerto Rico ---- with affordable customers that network organization staff and industry professionals have mastered Regional Offices housing, financial counseling and coaching, training, and resident engagement and a specific knowledge area in the fields of financial capability and housing Northeast Region: Connecticut, Delaware, Maine, Massachusetts, New Hampshire, collaboration in the areas of health, employment and education. education/counseling. New York, New Jersey, Pennsylvania, Puerto Rico, Rhode Island, Vermont, Virgin Islands

That’s the 30,000-foot view. But what’s the deeper dive? To ensure that our network organizations are strong and healthy in their operations Boston ---- and remain that way ---- we conduct rigorous assessment before acceptance into 116 Huntington Avenue, 12th Floor, Boston, Mass. 02116 We are an organization that cares deeply about affordable housing and community NeighborWorks and every year after that. We also offer programs and support Phone: (617) 450-0410 development. It’s in our DNA. Since 1978, the safety and well-being of our communities that help them establish and maintain healthy operations, measure the impact of New York City has been the motivation for why we come to work in the morning, often log long their efforts, expand their program offerings to meet community needs, and move 505 8th Avenue, Suite 1601, New York, N.Y. 10018 workdays and put in years of service. There’s been no substitute over the last 40 toward long-term stability and growth. Phone: (212) 269-6553 years for the reach, breadth and know-how of the NeighborWorks team. NeighborWorks builds the skills, supplements the resources and amplifies the As you flip through the pages of our annual report, the stories and data will provide Southern Region: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Maryland, reach of network organizations so they can empower more individuals and a glimpse into our world. By exploring our programs and reading about some of Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington D.C., transform more communities than they could on their own. our recent accomplishments, we hope you’ll learn more about our hand-in-glove West Virginia work with network organizations, how we strive to provide solutions-focused tools Atlanta Our story starts in Pittsburgh, Pennsylvania, with Dorothy Mae Richardson, an and data-driven services that enable them to achieve their goals ---- but it’s just a 260 Peachtree Street, Suite 1000, Atlanta, Ga. 30303 African-American housewife turned crusader, who galvanized the residents of her snapshot. Phone: (404) 526-1270 Central Northside neighborhood to fight for the resources they needed to save their homes and community. Her efforts led to the founding of Neighborhood Housing We hope you’ll be interested to learn more about NeighborWorks America and our Western Region: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Services of Pittsburgh, which became the national model for NeighborWorks efforts to create opportunities for people to live in affordable homes, improve their Nevada, New Mexico, Oregon, Texas, Utah, Washington, Wyoming America’s work. lives and strengthen their communities. You can always visit www.neighborworks. org for more information. Or, you can ask any one of us. It’s a story we’re happy to Denver Today, NeighborWorks supports a network of organizations and the broader community share. 501 S. Cherry Street, Suite 400, Denver, Colo. 80246 development field with grant funding, peer exchange, technical assistance, Phone: (303) 782-0299 evaluation tools and training. We are proud of the work do, but it would not be Midwest Region: possible without our annual appropriation from Congress and our generous Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, partners. The corporations and foundations that support our programs and service Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Wisconsin offerings help ensure that we reach and serve as many people and communities as Kansas City possible. In fiscal year 2018, nearly $93 million in grant funding was distributed One Main Plaza, 4435 Main Street, Suite 700, Kansas City, Mo. 64111 from our core appropriation. NeighborWorks network members reported more than Phone: (816) 931-4176 $8.4 billion of investment in their communities. This level of investment is possible because for every $1 of federal appropriation we award, NeighborWorks organizations attract another $60 to expand local impact. 2 3 2018 Financial Summary Neighborhood Reinvestment Corporation (d.b.a. NeighborWorks America)

Strong Financial Stewards Condensed Statement of Financial Position and Statement of Activities (Amounts in 000’s) Period ended September 30, 2018

As a congressionally chartered corporation that receives a direct annual federal appropriation in addition to significant funding from corporations, foundations and other partners to Assets Revenues, gains and other support $ 142,839 support our work, NeighborWorks America ---- at every level of the organization ---- takes Current assets Congressional appropriations Cash and cash equivalents $ 94,516 Contributions 14,145 seriously its financial responsibility to our many stakeholders. To ensure the funds we Short term investments 2,500 Grant and contracts 5,744 receive achieve the most good for the greatest number, we hold ourselves to the Receivables: Training registration fees 3,135 highest operational standards and multiple levels of oversight. Contributions receivable 408 Interest income 1,146 Grant and contract receivables 635 Publications and subscriptions 659 409 Working closely with our board of directors and the corporation’s leadership, the office Other receivables-net 636 Other income Prepaid expenses and other assets 1,383 Net assets released from restrictions 62,946 of the chief financial officer submits an annual budget to the Office of Management and Total current assets 100,078 Total revenue, gains, and other support $ 231,023 Budget that details financial and programmatic information about how the prior year’s appropriation was used, along with plans for requested funds in the next fiscal year. Noncurrent assets Expenses In addition, we submit an annual budget justification to both houses of Congress. Deposits 347 Grants and grant commitments $ 146,935 Property and equipment, net 5,430 Personnel 42,459 Total noncurrent assets 5,777 Professional services 9,606 Every year, NeighborWorks America undergoes a third-party financial audit by one of the 6,940 Total assets $ 105,855 Other operating costs nation’s top public accounting firms. The external, independent auditor provides a full Occupancy 3,713 audit of the corporation’s financial statements in accordance with formal industry standards. Travel 2,526 We also have a full-time internal auditor on staff to ensure compliance with established Liabilities and Net Assets Conferences and workshops 2,567 1,441 financial and operational procedures, which involves a continual review of financial Depreciation and amortization Current liabilities Total expenses $ 216,277 transactions, internal controls and adherence to established procedures. Accounts payable and accrued expenses $ 7,111 Pass-through liability 39,948 While our impressive programmatic work and network training is where the NeighborWorks Grant commitments: America story most often is told, being good financial stewards of our financial resources Foreclosure prevention 1,066 and partnerships bolsters the solid foundation upon which our work to strengthen Deferred revenue: Foreclosure prevention 2,218 NeighborWorks America is pleased to report that it has received the Annual Audit Report with the expected unmodified (or communities and expand opportunities for affordable housing is built. Registration Fees 223 “clean”) audit opinion. This is a great testament to the diligence and attention to detail of NeighborWorks’ leadership and Total current liabilities 50,566 financial team, who work to ensure that the organization complies with all the policies, standards and regulations that govern its operations and financial reporting. Rebecca Bond Noncurrent liabilities Executive Vice President & Deferred rent liability 5,772 The 2018 financial summary was compiled from the annual audit of Neighborhood Reinvestment Corporation Chief Financial Officer Total noncurrent liabilities 5,772 (d.b.a. NeighborWorks America).

Total liabilities 56,338 The complete audited financial statements are available at www.NeighborWorks.org.

Commitments and contingencies Net assets Unrestricted net assets 8,730 Temporarily restricted net assets 38,287 Permanently restricted net assets 2,500 Total net assets 49,517 Total liabilities and net assets $ 105,855

4 5 CB&E supports the efforts of residents and resident associations to plan and accomplish the change they envision, improving the vitality and safety of the communities they call home.

Residents are the building blocks providing the structure, bonds and energy that create vibrant communities. While residents are the best authorities on what makes their community thrive, they often do not have the resources or opportunities to develop and implement solutions.

NeighborWorks America’s Community Building and Engagement (CB&E) program works to help local NeighborWorks organizations develop the fullest potential of resident leaders. The program supports the efforts of residents and resident associations to plan and accomplish the change they envision, improving the vitality and safety of the communities they call home. Making a difference An important component of the CB&E program is the Community Leadership Institute (CLI) ---- a cornerstone of our work to Michelle Overstreet, above, was a 2018 Dorothy Richardson build resident leaders and strengthen communities. The CLI enhances the capacity and commitment of local organizations to Award recipient who created MyHouse, a nonprofit in her Alaska community dedicated to ending homelessness and create community leaders and increase their knowledge, skills, confidence and collective ability. The CLI experience consists of team creating jobs for youth. building, onsite training, networking and a yearlong action project. NeighborWorks network organizations and other partners bring together teams of eight community residents, along with staff from their sponsoring organization, to attend the annual In Houston, below, local resident leaders stepped up to assist homeowners who suffered losses following a natural disaster. in-person training. Participants attend workshops, network with their peers, visit local community projects, and begin action planning for a project in their community. The projects are then eligible for a $4,000 NeighborWorks America grant that supports implementation over the following year. The cumulative effect is community-driven solutions, ongoing resident participation Building Blocks of and investment, and the community leadership necessary to create and maintain strong communities.

When Noel Halvorsen was hired as president and CEO of NeighborWorks Green Bay in Wisconsin, his very first trip was to the national CLI. Halvorsen brought with him a team that included volunteers and staff members from partner agencies, faith-based organizations and local government agencies. They attended a variety of courses, learning how to sharpen community Resident Leadership engagement and nonprofit management skills to address challenges in communities like theirs. In addition, they began to build a network of peers from which they could continue to share and learn.

For Halvorsen and his team, the CLIs have proven to be immensely valuable in strengthening their efforts. NeighborWorks Green Bay, working with community partners, now offers Saturday workshops modeled on the CLI and aimed at sharing skills Johnny Carter, walking in his neighborhood in Moorhead, Mississippi, and building networks among community leaders. The workshops operate on the assumption that many local nonprofits have was recognized in 2018 with a NeighborWorks America Dorothy Richardson Award deeply committed staff and volunteers who could benefit from additional training to write successful grant applications, compile for Resident Leadership for his efforts to resolve infrastructure issues in his community. a community asset map or plan for leadership successions.

To help groups like NeighborWorks Green Bay achieve their vision, NeighborWorks America offers several different types of peer-learning opportunities, trainings and workshops, resources and tools on best practices, grant funding, and measurement and evaluation support.

Together, these efforts inspire and support resident leaders in their work to transform their neighborhoods. 6 7 As NeighborWorks organizations across the country sit down to do their long-term planning, more of them are coming to the same conclusion: The traditional nonprofit business model is ripe for innovation.

Nonprofits are finding it increasingly difficult to survive on grants, government funding and philanthropic contributions alone. Sustainability requires a new way of thinking.

NeighborWorks launched the Sustainable Business Initiative (SBI) to help organization leaders learn and adopt best practices used by entrepreneurs and others in the private sector. NeighborWorks staff and business coaches work with SBI participants to understand how to modernize, monetize and find investors to support their work.

Leaders at Affordable Homes of South Texas Inc. (AHSTI), one of the first organizations to participate in SBI, had crunched their numbers and saw that AHSTI would not survive without adapting. “The thought of not being able to make an impact in the community left us with a sense of trepidation,” AHSTI Deputy Executive Director Myra Martinez said. “Where else would Studying the landscape these people go?” Community development symposia, peer exchange workshops and panel discussions are a staple of AHSTI discovered that there were others in the community who recognized the value in its services and were willing to support NeighborWorks America Training Institutes, with participants discussing housing issues and investigating mutually them through investments and partnerships. A reworked business model and entrepreneurial mindset helped AHSTI plan for beneficial solutions for national problems. long-term sustainability and provided the tools to further its mission. When AHSTI’s staff noticed that some customers started defaulting on their loans, for instance, they traced the problem back to a recent hailstorm in the McAllen area, causing a spike in homeowners’ insurance rates.

“They weren’t shopping around for services and, as a result, had very high payments and couldn’t make them anymore,” Martinez said. “We thought, ‘There’s got to be a better way to get the coverage they need without raising their insurance so high.’”

Using tools learned through SBI and leveraging private-sector partnerships, Affordable Homes of South Texas started an independent brokerage, Hope Insurance Agency, to help customers compare insurance rates. Providing that service led directly to a 17 percent drop in delinquencies among its customers, Martinez said.

Successes like AHSTI’s are not unique to SBI participants. The program is now available to all NeighborWorks network organizations looking to pursue business models that support sustainability. Moving to a Model That Can Last

AHSTI’s Hope Insurance Agency provided services that led directly Among the many ways that NeighborWorks America helps network organizations interested in building a Sustainable Business to a 17 percent drop in delinquencies among its customers. Initiative model is by providing in-depth courses during NeighborWorks Training Institutes held throughout the country.

8 9 From villages in New England and areas of the deep south, to small Midwest farming communities and the desert Southwest ---- and everywhere in between ---- the community development needs of rural communities are as “There are no other agencies unique as their geographies. And they certainly have specialized requirements compared to larger urban centers. serving the rural community

That’s why NeighborWorks America’s Rural Initiative seeks to create vibrant communities by delivering a range the way we can with our of tools and resources through 119 network organizations, and we are committed to advancing comprehensive community development and combatting persistent rural poverty. Our strong rural network is the linchpin to NeighborWorks resources.” serving many rural communities.

Rural communities often lack the resources to tackle challenges such as entrenched poverty; substandard housing; a lack of affordable housing; economic shifts; declining and aging populations; isolation; and the increased prevalence of natural disasters. Support services are spread over large geographies, and funding and capital are scarce in many rural communities. In addition, basic infrastructure needs such as water and sewer systems, roads and electrical lines, frequently need to be built when building affordable housing, adding significantly to the typical cost of construction. That’s even more significant when you consider that 20 percent of the U.S. population lives in rural areas.

NeighborWorks America’s network of rural-focused organizations brings together specialized understanding, talent, tools and capabilities to address these needs. In addition, our network organizations are adept at forging cross-sector partnerships in order to have broader impact.

One such organization, NeighborWorks of Western Vermont, was incorporated in 1985 and provides residents with financial and homeownership education, help finding homes to purchase, purchase loans, and assistance renovating existing homes to make them healthy, safe, efficient and sustainable. Rural communities on the rise Residents of West Rutland, Vermont, (above) celebrate at an annual community day event. NeighborWorks of “The biggest town in our three-county area has a population of 15,000,” explains Ludy Biddle, executive director Western Vermont has served West Rutland residents and the of NeighborWorks of Western Vermont, which has offices in West Rutland and Bennington. “Most of the towns in surrounding areas for over 33 years. our region have less than 2,000 residents. So, even for Vermont, we are very rural.” Biddle says NeighborWorks’ understanding of rural issues has been “invaluable” to the group’s efforts. The NeighborWorks network works for and with rural residents and communities in areas such as Appalachia, the desert Southwest, the Plains states and Louisiana Raising Voices for “In just about everything we do, there’s some NeighborWorks assistance,” she says. In addition to grant funding bayou country. and technical assistance, “we’ve had all kinds of business planning and capacity building for our organization.”

She added that this kind of support has been essential because of scarce resources. “I think, in general, rural areas just get less attention from public policy makers, and access to capital, access to credit, access to grants are just less,” Biddle Rural Communities says. “There are no other agencies serving the rural community the way we can with our NeighborWorks resources.”

NeighborWorks America’s rural work has grown since its start in 1981, with just five network organizations, but there’s still much to accomplish. When rural communities thrive, the whole country benefits. Empowering rural Rural communities face different challenges than their urban counterparts. The NeighborWorks Rural Initiative has organizations is a clear national imperative. We have committed to the expansion of our rural work, and to respond developed a specialized understanding of the needs of these areas that is as unique as the communities we serve. to the unique needs and challenges of families in rural communities, providing much-needed resources, and finding better ways to understand and serve rural populations. 10 11 Focusing on Financial Capability Creating

Having the financial capability and resources to plan for the future, save for emergencies and achieve financial goals just Community Impact makes life easier. At NeighborWorks America, we believe that strengthening the financial capability of individuals and families in the communities we serve is critical to our mission. In communities In addition to making an impact on individual households, With the support of JPMorgan Chase we implemented the NeighborWorks America Financial Capability for Renters pilot we serve, people we seek to create positive impact in the many neighborhoods and program. The program brought together 18 organizations to develop or expand ideas for more effectively providing financial communities where we work. With the goal of measuring progress, we capability services to residents living in affordable multifamily rental housing. are connected to developed the Community Impact Measurement (CIM) project, which includes a resident survey, Block Conditions Assessment, and Property In fiscal year 2018, we took our work to the next level, with the culmination of the pilot program, increased opportunities for their neighbors Conditions Assessment, from Success Measures, a NeighborWorks certification and training, and new resources. social enterprise that helps nonprofits and their funders measure the and feel they can impact of their community-development efforts and investments. The pilot included pioneering organizations such as AHC Inc., based in Arlington, Virginia, and Baltimore, Maryland. AHC expanded make positive its efforts to report on-time rent payments to credit bureaus. For low-income renters, who may not have access to traditional Across our network, 128 organizations participated in two rounds of credit-building paths, this method can help to build credit and move residents toward greater financial stability. change in their the CIM effort, in 2013 and 2016-2017. Eighty percent of organizations reported significant measurable improvement in the key areas of social Of the 411 participants who completed surveys at the beginning and conclusion of their work with the NeighborWorks organizations, communities. capital, positive community perception or physical conditions. 29 percent reported that they had begun to set aside money for savings; 49 percent increased their savings; 43 percent reported feeling an increased sense of financial security; and 49 percent improved their credit score, with an average increase of 32 points. The results demonstrate that in communities we serve, people feel more likely to recommend the community as a great place to live. We have been successful in the delivery of high-quality training, technical assistance, and financial coaching certification. They feel more connected to neighbors; and they have a strong feeling NeighborWorks America also released two new resources for financial coaches: A Guide to Small Dollar Loans and A Guide to they can make a positive change in their communities. Transaction Accounts. In Nebraska, NeighborWorks Lincoln used the CIM to measure the impact of its work in the city’s Clinton neighborhood. They found that 44 percent of residents believe Clinton has improved in the three-year Preserving community resources timeframe, and 89 percent of Clinton residents felt satisfied with their Volunteers and NeighborWorks staff work tirelessly to help residents renovate and update their homes, creating neighborhood. “Clinton is a shining example of why NeighborWorks sustainable, efficient, safe and healthy places to live. Lincoln matters,” says Michael A. Renken, CEO, NeighborWorks Lincoln. “Through continued efforts with residents, neighborhood associations, local businesses, city staff, area schools, and nonprofit organizations, we are revitalizing neighborhoods like Clinton, building on the strengths of our neighborhoods while helping to address their needs.”

Working together, we are building stronger, more positive and safer Our Community Impact Measurement project is a long-term effort to track change over time in order to better document communities whose residents have stronger social connection. the impact of our network’s efforts in key areas of comprehensive community development and revitalization. 12 13 In 2018, our training efforts resulted in almost 15,000 certificates awarded to professionals working in more than 1,900 community-serving organizations.

Since 1988, training community-serving professionals ---- in our network and beyond ---- has been a mainstay of NeighborWorks America’s efforts to propel the community development and affordable housing field to an ever-increasing level of impact. We believe that sharing innovative tools and best practices among experts and peers is the best way to amplify the good work being done across the country.

In 2018, our training efforts resulted in almost 15,000 certificates awarded to professionals working in more than 1,900 organizations. These certificates were earned at our national NeighborWorks Training Institutes, at local/regional place-based training sessions, and through our online learning offerings. According to the results of our most recent biannual training impact study, we know training makes a significant difference. Eighty-six percent of participants report that NeighborWorks training contributes significantly to their organization’s mission achievement.

One of our educational programs that has experienced exponential growth is disaster recovery. We initially developed our expertise in this area in the wake of Hurricanes Katrina and Rita in 2005. Since then, our country has faced a number of large- Making a difference scale natural disasters, including earthquakes, storms and wildfires. Almost two years ago Hurricanes Harvey, Irma and Maria The comprehensive spectrum of courses, consulting, tore through cities across the United States. Working nationally with the U.S. Department of Housing and Urban Development, networking opportunities and other support provided by national and regional funders, and nonprofit staff in Puerto Rico and Houston, Texas, we quickly assembled and presented NeighborWorks America helps professionals and their resources to support responding organizations and affected residents. Our offerings included: organizations adopt innovations, improve performance and achieve meaningful impact. • Place-based trainings, particularly in South Florida and Houston • Online courses, including Foreclosure Intervention Services During Disaster Recovery In Puerto Rico, below, Dona Ana (left), and Blanca Velez Beauchamp, executive director of Puerto Rico Neighborhood • A module in CounselorMax (our online tool for the real-time charting and accurately reporting of intake, education and Housing Services Inc., survey storm damage. Puerto Rico Supporting Communities counseling activities) that tracks and reports disaster-related activity NHS rebuilt Ana’s home many years ago. • Complimentary access to the sixth edition of our holistic resident- and housing counselor-focused resource guide, Through Training Navigating the Road to Housing Recovery, available in English and Spanish. Since 2012, we’ve conducted 45 place-based trainings focused on disaster preparedness, recovery and rebuilding. We are pleased that our efforts are reaching the most underserved residents in disaster-affected geographies, which include families in vulnerable rural areas.

NeighborWorks Training Institutes provide extensive opportunities for professional development and serve as excellent opportunities for peer exchange and networking. Looking ahead, we will continue our momentum and provide ongoing support for the inevitable disasters to come. In 2019, we’ll launch a new course that completes the Disaster Preparation and Response series in our Management and Leadership track called Picking Up the Pieces: The First 30 Days of Response and Recovery. We will actively pursue opportunities to work with our partners, the NeighborWorks Network and other affected organizations to provide timely training and resources.

14 15 16 17 Looking Forward Our Partners

If 40 years has taught us anything, it’s that we must keep looking ahead. Dorothy Richardson could see where things were headed for her and her neighbors, and she acted to guarantee that they weren’t left behind. No one knew then that her efforts to ensure that people had safe and secure places to call home would be the model for sustainable community Innovators development that NeighborWorks still embraces today. The lessons she taught us about education, collaboration and ($1,000,000+) innovation are the cornerstones of our work.

As we look toward the next 40 years, we must continue to innovate and collaborate for the benefit of the individuals and families we serve. We are fortunate to have been trusted with the important tasks of not only making homes affordable, but also ensuring that generations are able to benefit from the stability and security that a safe and secure home provides.

EDUCATION With nearly 250 organizations in our network, NeighborWorks has more than a vested interest in their success. Through our training and professional development offerings, we are making sure that the next generation of community developers, resident leaders and funders are educated and prepared to lead well into the future. That said, we also understand that know-how without effective implementation can still have roadblocks. Piloting a Sustainable Business Initiative has afforded Champions us the opportunity to formalize a program that helps traditionally funded nonprofits explore previously unexplored and ($250,000 – $999,999) diverse clients and pursue social innovation models that make them attractive to new partners and resource collaborators.

COLLABORATION We have long demonstrated our ability to be strong financial stewards. Our focus now is on how we grow our resources and reach. As intermediaries of change, our job has always been to bring diverse people and ideas to the table. As the world changes and philanthropy increasingly becomes an in-house function, we must work that much harder to attract investors and social entrepreneurs who are looking to invigorate and restore communities and invest in sustainable, healthy Leaders ($100,000 – $249,999) living models that help low- to moderate-income families move beyond the limitations that have kept them from succeeding.

INNOVATION NeighborWorks America is fortunate to have some of the most experienced and informed minds in the industry on our staff and in our network. Their creativity and transformational ideas have raised us to the next level of thought leadership and follow-through as we look at how best to approach our work. From exploring new client management platforms, to incorporating data innovation teams, enterprise technology is helping us centralize and streamline the way we do business. Friends The experience of the past 40 years has been a good teacher ---- equipping our organization to respond to the challenges ($20,000 – $99,999) and opportunities ahead. But we continue to grow and evolve, eager to explore new paths, technologies, partnerships Corporation for National & Community Service • E*TRADE Financial Corporation • Fannie Mae and solutions for achieving our higher aims. There’s so much more to come. As we study and prepare for the complex and Federal Home Loan Bank System • Fifth Third Bank • Freddie Mac • National Endowment for the Arts distinct needs of the urban, suburban and rural communities we serve, we embrace our future and look forward to the growth and change it will bring. PNC • Pennsylvania Housing Finance Agency • Woodforest National Bank

18 19 Listing of NeighborWorks Organizations (as of April 2019)

ALASKA LTSC Community Development Corporation Los Angeles Neighborhood Housing Services of New Haven, Inc. HAWAII Frontier Housing, Inc. Morehead MAINE Fairbanks Neighborhood Housing Services, Inc. Fairbanks Mutual Housing California Sacramento New Haven Hawaii HomeOwnership Center Honolulu New Directions Housing Corporation Louisville Avesta Housing Development Corporation Portland NeighborWorks Alaska Anchorage Neighborhood Housing Services of Neighborhood Housing Services of Waterbury, Inc. Waterbury Mutual Housing Association of Hawaii, Inc. Honolulu The Housing Partnership, Inc. Louisville Coastal Enterprises, Inc. Brunswick Los Angeles County Los Angeles NeighborWorks New Horizons New Haven Community Concepts, Inc. Lewiston Neighborhood Housing Services of the Inland Empire, Inc. ALABAMA IOWA LOUISIANA Kennebec Valley Community Action Program Housing San Bernardino Services Waterville Community Action Partnership of North Alabama, Inc. DISTRICT OF COLUMBIA Community Housing Initiatives Spencer Mid City Redevelopment Alliance, Inc. Baton Rouge Neighborhood Partnership Housing Services Decatur Manna, Inc. Penquis Community Action Program, Inc. Bangor Rancho Cucamonga Neighborhood Finance Corporation Des Moines Neighborhood Housing Services of Community Service Programs of West Alabama, Inc. NeighborWorks HomeOwnership Center NeighborWorks Home Solutions Council Bluffs New Orleans, Inc. New Orleans Tuscaloosa Sacramento Region Sacramento DELAWARE Providence Community Housing New Orleans MICHIGAN Neighborhood Housing Services of Birmingham, Inc. NeighborWorks Orange County Orange Interfaith Community Housing of Delaware, Inc. Wilmington Southern Mutual Help Association New Iberia Dwelling Place of Grand Rapids Nonprofit Birmingham Housing Corporation Grand Rapids Peoples’ Self-Help Housing Corporation San Luis Obispo National Council on Agricultural Life and Labor Research IDAHO NeighborWorks Boise Boise Habitat for Humanity of Michigan Lansing Rural Communities Housing Development Corporation Fund, Inc. Dover MASSACHUSETTS ARKANSAS NeighborWorks Pocatello Pocatello Kalamazoo Neighborhood Housing Services, Inc. Kalamazoo Ukiah Cambridge Neighborhood Apartment Housing Services, Inc. Crawford-Sebastian Community Development Council, Inc. Self-Help Enterprises Visalia Cambridge Lighthouse of Oakland County Pontiac Fort Smith FLORIDA Tenderloin Neighborhood Development Corporation ILLINOIS Coalition for a Better Acre Lowell Metro Community Development, Inc. Flint Universal Housing Development Corporation Russellville Centro Campesino Farmworker Center, Inc. Florida City San Francisco Northwest Michigan Community Clearwater Neighborhood Housing Services, Inc. Clearwater Hispanic Housing Development Corporation Chicago Codman Square Neighborhood Development Corp. The Unity Council Oakland Dorchester Action Agency, Inc. Traverse City Corporation to Develop Communities of Tampa Tampa Mid Central Community Action Bloomington ARIZONA Lawrence CommunityWorks, Inc. Lawrence Southwest Solutions Detroit Housing Partnership, Inc. Riviera Beach Neighborhood Housing Services of Chicago, Inc. Chicago Chicanos Por La Causa, Inc. Phoenix Madison Park Development Corporation Roxbury COLORADO Neighborhood Housing & Development Corporation NW HomeStart, Inc. Freeport Comite de Bien Estar, Inc. San Luis Community Resources and Housing Gainesville The Neighbor Project Aurora Neighborhood of Affordable Housing, Inc. East Boston MINNESOTA The Primavera Foundation, Inc. South Tucson Development Corporation Westminster Neighborhood Housing Services of South Florida, Inc. Miami NeighborWorks Southern Mass Quincy Aeon Minneapolis Trellis Phoenix Housing Resources of Western Colorado Grand Junction NewVue Communities, Inc. Fitchburg CommonBond Communities St. Paul Orlando Neighborhood Improvement Corp. Orlando INDIANA Neighbor to Neighbor, Inc. Fort Collins Nuestra Comunidad Development Corp. Roxbury Dayton’s Bluff Neighborhood Housing Services, Inc. St. Paul Pensacola Habitat for Humanity, Inc. Pensacola LaCasa, Inc. Goshen NeighborWorks Southern Colorado Pueblo CALIFORNIA Rural Neighborhoods, Incorporated Florida City Oak Hill Community Development Corp. Worcester Midwest Minnesota Community Development Corporation Pathfinder Services, Inc. Huntington Detroit Lakes A Community of Friends Los Angeles Rocky Mountain Communities Denver The Neighborhood Developers, Inc. Chelsea Tallahassee Lenders’ Consortium Tallahassee South Bend Heritage Foundation South Bend Thistle Communities Boulder NeighborWorks Home Partners St. Paul Cabrillo Economic Development Corp. Ventura Tampa Bay Community Development Corporation Clearwater Urban Edge Housing Corporation Roxbury Tri-County Housing & Community Development Corporation One Roof Community Housing Duluth Chinatown Community Development Center San Francisco Wealth Watchers, Inc. Jacksonville Way Finders, Inc. Springfield Fowler KANSAS Coachella Valley Housing Coalition Indio Southwest Minnesota Housing Partnership Slayton CHWC, Inc. Kansas City Community Housing Development Corporation of MARYLAND North Richmond Richmond CONNECTICUT Mennonite Housing Rehabilitation Services, Inc. Wichita GEORGIA Montgomery Housing Partnership, Inc. Silver Spring MISSOURI Community Housing Improvement Program, Incorporated Connecticut Housing Partners Bridgeport Better Family Life, Inc. St. Louis Atlanta Neighborhood Development Partnership, Inc. Neighborhood Housing Services of Baltimore, Inc. Baltimore Chico Housing Development Fund, Inc. Stamford Atlanta KENTUCKY Salisbury Neighborhood Housing Services, Inc. Salisbury Beyond Housing, Inc. St. Louis Community HousingWorks San Diego Mutual Housing Association of Greater Hartford, Inc. Hartford NeighborWorks Columbus Columbus Community Ventures Corporation Lexington St. Ambrose Housing Aid Center Baltimore North East Community Action Corporation Bowling Green East Bay Asian Local Development Corporation Oakland Neighborhood Housing Services of New Britain, Inc. Fahe, Inc. Berea Westside Housing Organization, Inc. Kansas City Eden Housing Hayward New Britain

20 21 MISSISSIPPI NEW MEXICO The Home Ownership Center of Greater Cincinnati, Inc., PUERTO RICO NeighborWorks Waco Waco WEST VIRGINIA Hope Enterprise Corporation Jackson Homewise, Inc. Santa Fe Cincinnati Ponce Neighborhood Housing Services, Inc. Ponce Nueces County Community Action Agency Corpus Christi CommunityWorks In West Virginia, Inc. Charleston Native Partnership for Housing, Inc. Gallup Homeport Columbus Puerto Rico Neighborhood Housing Services, Corp. Santurce Tejano Center for Community Concerns Houston HomeOwnership Center, Inc. Elkins Neighborhood Development Services Ravenna MONTANA Tierra del Sol Housing Corporation Las Cruces Neighborhood Housing Partnership of Greater Springfield, NeighborWorks Great Falls Great Falls RHODE ISLAND WYOMING Inc. Springfield UTAH NeighborWorks Montana Great Falls NEVADA NeighborWorks Blackstone River Valley Woonsocket NeighborWorks Mountain Country Wyoming Housing Network Casper Neighborhood Housing Services of Greater Cleveland, Inc. Neighborhood Housing Services of Southern Nevada, Inc. ONE Neighborhood Builders Providence Home Solutions Provo Cleveland North Las Vegas NeighborWorks Salt Lake Salt Lake City NORTH CAROLINA Neighborhood Housing Services of Hamilton, Inc. Hamilton West Elmwood Housing Development Corp. Providence Nevada H.A.N.D., Inc. Las Vegas Charlotte-Mecklenburg Housing Partnership, Inc. Charlotte NeighborWorks Toledo Region Toledo VIRGINIA DHIC, Inc. Raleigh St. Mary Development Corporation Dayton SOUTH CAROLINA Durham Community Land Trustees Durham NEW YORK Origin SC North Charleston AHC Inc. Arlington Mountain Housing Opportunities, Inc. Asheville Arbor Housing and Development Corning Better Housing Coalition Richmond OKLAHOMA Asian Americans for Equality, Inc. New York Community Housing Partners Corporation Christiansburg Community Action Project of Tulsa County Tulsa SOUTH DAKOTA Chautauqua Home Rehabilitation and NORTH DAKOTA Little Dixie Community Action Agency Hugo GROW South Dakota Sisseton Improvement Corporation Mayville CommunityWorks North Dakota Mandan Deadwood VERMONT Community Development Corporation of Neighborhood Housing Services of Oklahoma City, Inc. NeighborWorks Dakota Home Resources Oklahoma City Long Island, Inc. Centereach Champlain Housing Trust Burlington Rural Enterprises of Oklahoma, Inc. Durant Fifth Avenue Committee, Inc. Brooklyn Downstreet Housing & Community Development Barre NEBRASKA TENNESSEE NeighborWorks of Western Vermont West Rutland NeighborWorks Lincoln Lincoln Home HeadQuarters, Inc. Syracuse Affordable Housing Resources, Inc. Nashville RuralEdge Lyndonville NeighborWorks Northeast Nebraska Norfolk Housing Assistance Program of Essex County, Inc. OREGON Chattanooga Neighborhood Enterprise, Inc. Chattanooga Elizabethtown CASA of Oregon Sherwood Windham & Windsor Housing Trust Brattleboro Eastern Eight Community Development Hudson River Housing, Inc. Poughkeepsie NeighborImpact Redmond NEW HAMPSHIRE Corporation Johnson City Ithaca Neighborhood Housing Services, Inc. Ithaca NeighborWorks Umpqua Roseburg Affordable Housing, Education and Development, Inc. Knoxville WASHINGTON HomeSource east tennessee Littleton Neighborhood Housing Services of New York City, Inc. Portland Housing Center Portland Community Frameworks Spokane New York United Housing, Inc. Memphis CATCH Neighborhood Housing Concord REACH Community Development, Inc. Portland HomeSight Seattle NeighborWorks Community Partners Rochester Lakes Region Community Developers Laconia Willamette Neighborhood Housing Services Springfield Low Income Housing Institute Seattle Opportunities for Chenango, Inc. Norwich TEXAS NeighborWorks Southern New Hampshire Manchester NeighborWorks of Grays Harbor County Aberdeen PathStone Corporation Rochester Affordable Homes of South Texas, Inc. McAllen PENNSYLVANIA RUPCO, Inc. Kingston Alamo Community Group San Antonio NEW JERSEY Housing Development Corporation MidAtlantic Lancaster WISCONSIN Troy Rehabilitation & Improvement Program, Inc. Troy Avenue Community Development Corporation Houston Affordable Housing Alliance, Inc. Neptune Neighborhood Housing Services of Greater Berks, Inc. Housing Resources, Inc. Milwaukee UNHS NeighborWorks HomeOwnership Center Utica BCL of Texas Austin Reading Housing and Neighborhood Development Services, Inc. Community Development Corporation of Brownsville Impact Seven, Inc. Rice Lake Neighborhood Housing Services of the Orange Brownsville Neighborhood Housing Services of Southwest Wisconsin, Lehigh Valley, Inc. Allentown OHIO Inc. Richland Center Housing Partnership for Morris County Dover Fifth Ward Community Redevelopment Corporation Houston NeighborWorks Northeastern Pennsylvania Scranton East Akron Neighborhood Development NeighborWorks Badgerland Kenosha La Casa de Don Pedro, Inc. Newark Foundation Communities Austin Corporation Inc. Akron NeighborWorks Western Pennsylvania Pittsburgh NeighborWorks Blackhawk Region Beloit New Jersey Community Capital New Brunswick NeighborWorks Laredo Laredo Famicos Foundation Cleveland New Kensington Community Development Corporation St. Joseph’s Carpenter Society Camden NeighborWorks Green Bay Green Bay Philadelphia

22 23 NeighborWorks America’s Leadership (as of April 2019)

Board of Directors Senior Staff Grovetta Gardineer Lee Anne Adams Tiffany Lawrence Board Chair, Interim Senior Vice President, National Initiatives Senior Vice President, Human Resources Senior Deputy Comptroller for Compliance and Community Affairs, Wayne Bowman Kevin Morris Office of the Comptroller of the Currency Senior Vice President, Senior Vice President, Organizational Assessment Information Technology and Services Michelle Bowman Marco Moses Member, Brooke Finn Senior Vice President, Procurement Board of Governors of the Federal Reserve System Vice President, Leadership, Evaluation & Valerie Navy-Daniels Peer Learning, NeighborWorks Services Group Martin Gruenberg Interim Senior Vice President, Resource Development Appointive Director, Frances Ferguson Donald Phoenix Federal Deposit Insurance Corporation Interim Vice President, National Real Estate Programs Regional Vice President, Southern Region Mark McWatters Tayna Frett John Santner Member, Senior Vice President, Regional Vice President, Midwest Region National Credit Union Administration Board Administrative Services and Facilities Paul Singh Brian D. Montgomery Randy Gordon Interim Vice President, Community Initiatives Acting Deputy Secretary and Assistant Secretary Senior Vice President, NeighborWorks Services Group for Housing, Federal Housing Commissioner, Heather Starzynski U.S. Department of Housing and Maggie Grieve Vice President, Field Operations Urban Development Vice President, Success Measures Joan Straussman Brandon Tasha Harris Officers Regional Vice President, Northeast Region Vice President, Marietta Rodriguez Program Operations, Office of the COO Donna Tally President and CEO Vice President, National Partnerships, Lisa Hasegawa Resource Development Sheila Rice Regional Vice President, Western Region Interim Executive Vice President and Yonas Tessema Karen Hoskins Chief Operating Officer Senior Vice President, Controller Interim Vice President, Rebecca Bond National Homeownership Programs and Lending Tina Trent Executive Vice President and Interim Senior Vice President, Chief Financial Officer Michelle Hudgins Corporate Strategy and Impact Senior Vice President, Public Relations Rutledge Simmons Tonya Tyler Executive Vice President and Kirsten Johnson-Obey Vice President, Foreclosure Mitigation General Counsel/Corporate Secretary Senior Vice President, Public Policy and Legislative Affairs Frederick Udochi Kathryn Watts Chief Audit Executive Senior Vice President, Field Operations

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