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Delivering on the Mission NEIGHBORWORKS AMERICA: DELIVERING ON THE MISSION ANNUAL REPORT FY 2019 FOR MORE THAN 40 YEARS we have created opportunities for people to live in affordable homes, improve their lives and strengthen their communities. Our mission drives us forward. We continue to grow and evolve, exploring new paths, partnerships and solutions to better equip the communities we serve with the resources they need. A Letter from the Chairman of the Board It is a privilege to serve as the chairman of the NeighborWorks America board of directors. The board is committed to effective governance to ensure that NeighborWorks continues to carry out its vital mission. This is a personal journey for me. My first professional experience in Washington, D.C., was as an aide to my congressman from the Bronx in New York City. The congressman was a very strong supporter of the Urban Reinvestment Task Force, which by an act of Congress in 1978 became the Neighborhood Reinvestment Corporation, later to become NeighborWorks America. Through that experience, I gained an appreciation for the founding vision of NeighborWorks: empowering community residents, collaborating with local financial institutions and government leaders, and working to improve and transform their neighborhoods and quality of life. NeighborWorks’ founding vision is a powerful one. For more than 40 years, NeighborWorks has made a significant impact on neighborhoods and communities throughout the United States, in rural towns and urban centers, and everywhere in between. It’s an extraordinary history of accomplishment. This past year was no exception. Our accomplishments in fiscal year 2019 included: • Counseling and educating more than 166,000 customers; • Growing our network’s rental home stock by 6,785 units to more than 173,000 rental homes owned; and • Assisting more than 22,000 first-time homebuyers (mostly low to moderate income), thereby creating opportunity for families that not long ago believed the American dream was out of reach for them. The work of the NeighborWorks network magnifies the impact of our congressional funding. In FY19, every appropriated dollar resulted in an additional $64 in investment in communities throughout the country, for a total of $9.65 billion. The mission of NeighborWorks is as critical and relevant today as it was 40 years ago. Inadequate supply, accompanied by a resulting afford- ability challenge, only underscores the continuing need for NeighborWorks. On behalf of the board, I am confident that NeighborWorks will continue to carry out its mission with the creativity and dedication that have defined its history. Martin Gruenberg Board Chair, NeighborWorks America Appointive Director, Federal Deposit Insurance Corporation 2 A Letter from the President & CEO NeighborWorks America has been working in communities across the country for more than 40 years. I am grateful to have been here for half of that time, serving as president & CEO for the last two years. With each successive annual report, I have the opportunity to reflect on the many ways — old and new, familiar and innovative — that we have furthered our mission. This year’s annual report is a staunch reminder: Our mission is more relevant than ever. Over the last four decades, NeighborWorks America has grown and matured while working to overcome some of our nation’s toughest housing and community development issues. Those trenchant challenges have included redlining, urban disinvestment, a shortage of affordable rental housing, recovery from natural disasters, barriers to homeownership and the financial crisis that triggered an epic foreclosure crisis. Despite the complexity and variety of issues facing America’s communities, the unwavering and unimpeachable mission of NeighborWorks America has remained a guiding light in many communities. Our mission is always front and center in the minds of our excellent leadership team — a cadre of professionals and experts who work tirelessly every day. We are focused on impact and results. We are dedicated to being effective stewards of the resources entrusted to us. And we are, above all, committed to empowering the NeighborWorks network — more than 240 local, independent nonprofit organizations that address the specific needs of their communities. NeighborWorks organizations form a network of excellence. They leverage each other’s learnings and successes. They drive the innovation that helps improve the lives of America’s families. In September 2019, NeighborWorks America hosted a 40th anniversary event in Washington, D.C. For this special occasion, we assembled past leaders, partners and many of the network’s executive leaders for a deep-dive examination of the unique structure and ethos that have informed our successes to date. I vividly remember a specific moment from that evening’s reception. As it drew to a close, I looked out across a room filled with colleagues and partners I admire, and I was struck by the legacy of leadership and accomplishment that propels this organization to further excellence and innovation. Wherever I go, whomever I meet, I am proud to say we are working “to create opportunities for people to live in affordable homes, improve their lives, and strengthen their communities.” I am encouraged by the confidence that Congress, our funders, our industry partners and our network executives have placed in us. We are experienced. We are strong. We are ready for what the next 40 years may bring. As we look to the somewhat uncertain future for communities around the country, what I am certain about is that NeighborWorks America will remain committed to seeing that communities have the resources they need and are prepared to bridge ever-increasing gaps in homeownership and housing affordability. We will explore new models of service, expand our technologies and innovate for a new era. I am grateful and proud to be joined by NeighborWorks America’s exceptional board of directors, officers and senior leadership team in guiding this vital organization into a new decade of service to a mission that has proven worthy and durable during the country’s most challenging times. Marietta Rodriguez President & CEO, NeighborWorks America 3 About Us: Delivering on the NeighborWorks Mission Our mission: NeighborWorks America creates opportunities for people to live in affordable homes, improve their lives and strengthen their communities. What does it mean to be a mission-driven organization? A clearly defined and executed mission guides and informs, in good times and bad, and provides context for why our work matters. The pursuit of a mission motivates employees and other stakeholders, driving long- and short-term goals. People often claim they’re “on a mission,” but how do they deliver on it? At the end of the day, it is one of the fundamental ways we chart our course and measure success along the way. At the foundation of the NeighborWorks mission are more than 240 strong, healthy and prepared network organizations in every state, the District of Columbia and Puerto Rico. As a congressionally chartered and funded nonpar- tisan nonprofit, we support organizations that provide communities with affordable housing, financial counseling and coaching, training, and resident engagement and collaboration in the areas of health, employment and education. Main Office Regional Offices Where Washington, D.C. Boston New York City we 999 North Capitol Street N.E., Suite 900 116 Huntington Avenue, 12th Floor 505 8th Avenue, Suite 1601 Washington, D.C. 20002 Boston, Mass. 02116 New York, N.Y. 10018 work Phone: (202) 760-4000 Phone: (617) 450-0410 Phone: (212) 269-6553 Northeast Region: CT, DE, ME, MA, NH, NY, NJ, PA, PR, RI, VT, Virgin Islands 4 To ensure that our network organizations are strong and healthy every $1 of federal appropriation we receive, NeighborWorks in their operations, we conduct rigorous assessment before organizations attract another $64 to expand local impact. acceptance into the NeighborWorks network and every year In addition, for FY 2019, $91 million in grant funding was after. We offer programs and support to help our network distributed from our core appropriation. organizations establish and maintain healthy operations, measure the reach of their efforts, expand their program As the nation’s foremost trainer of community development offerings to meet community needs, and move toward long- and affordable-housing professionals, providing in-person, term stability and growth. NeighborWorks builds the skills, place-based and online training options, we distributed 13,800 supplements the resources and amplifies the reach of network training certificates in FY 2019. Under our training umbrella, we organizations so they can empower more individuals and continued to offer certification from the NeighborWorks Center transform more communities than they could on their own. for Homeownership Education and Counseling. This certification shows employers, peers, potential clients and customers that Empowering communities is how our mission began in Pittsburgh, network organization staff and industry professionals have Pennsylvania, in the 1960s. Dorothy Mae Richardson galvanized mastered a specific knowledge area in the fields of financial the residents of her marginalized Central Northside neighborhood capability and housing education/counseling. to fight for the resources they needed to save their homes and community. Without any formal community development Though the work may have expanded and the numbers we use to training, Richardson brought
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