NeighborWorks America at a Glance
NeighborWorks America is a national nonpartisan, nonprofit organization established by Congress.
For more than 35 years, we have helped people live in affordable homes — whether through long-term, sustainable home-ownership or high-quality affordable rental housing — and strengthen their communities. We do this by directly supporting a network of more than 245 nonprofit organizations with technical assistance and grants and by awarding more than 20,500 certificates to housing and community development professionals. Members of the NeighborWorks network offer homeownership and financial education, directly develop and manage affordable housing, and provide access to sustainable mortgages and other loans.
Our success stems from our ability to earn the trust of both public and private funders and leverage their investment using our technical expertise and extensive delivery network to build economic value and stronger communities. We support:
Homebuyer education and counseling
To prepare homebuyers to be successful owners, NeighborWorks America trains counselors who work at the local level to help individuals assess what they can afford, identify suitable properties and obtain a sustainable mortgage. A recent study commissioned by NeighborWorks America showed that this preparation works: clients who work with a NeighborWorks organization before they buy a house are one-third less likely to become 90+ days delinquent during the following two years than borrowers who did not.
At the end of fiscal year 2015, the NeighborWorks network owned and/or managed 142,600 rental homes. This makes the NeighborWorks network collectively one of the largest affordable real estate owners and producers in the United States. More than half of NeighborWorks organizations have rental portfolios of 100 or more homes. These units include housing for seniors, veterans and previously homeless people.
Whatever housing option individuals choose, NeighborWorks America helps them plan for and achieve their goals by training local professionals to effectively teach financial management skills.
We administer the National Foreclosure Mitigation Counseling program, a Congressionally-authorized grant program that has helped more than two million homeowners prevent or manage foreclosures since 2008. Follow-up research shows that the program enables homeowners facing foreclosure to obtain more favorable modifications in their mortgage loans than those who do not work with counseling agencies funded through this program.
We support a range of activities that improve economic conditions in a community, including the acquisition and rehabilitation of abandoned properties and the repair of older properties. Flexible grants from Neighbor-Works America support financial assistance to low-and moderate-income business owners for starting or expanding a business or improving commercial properties.
Resident and Volunteer Services
We support resident services, community gardens, youth programs and other community based initiatives that improve the lives of residents. Our organizations encourage volunteerism; our network members reported nearly 1.5 million volunteer hours in 2015.
The reliable delivery and success of these programs have earned NeighborWorks America the support of the nation’s largest banks, including Wells Fargo, Citi, JP Morgan Chase and Bank of America. For example, since 2012, NeighborWorks America has partnered with Wells Fargo to help more than 11,000 individuals in 40 communities become first-time homebuyers, via education and down payment assistance.
In fiscal year 2015, for every dollar of Congressionally-appropriated funding, the NeighborWorks network generated $50 of total investment. The network also helped create and maintain 30,100 jobs nationwide in professions such as construction, finance and retail.
Working together with our partners we will continue to help communities thrive, as evidenced by our five strategic goals through 2016:
Goal 1: NeighborWorks America creates and preserves housing opportunities that are sustainable and affordable.
Goal 2: NeighborWorks America advances comprehensive community development and resident engagement to achieve positive community impact.
Goal 3: NeighborWorks America supports a Network of Excellence of strong, sustainable NeighborWorks organizations that collectively leverage expertise and effective business models.
Goal 4: NeighborWorks America strengthens the knowledge, skills, and effectiveness of the community development and affordable housing field.
Goal 5: NeighborWorks America optimizes its organizational performance to achieve its strategic goals.