Grants

We are grateful for the generous support of our initiatives in 2004-2007 by the following organizations (first figure is total funding committed over this time period).

Bank of America Foundation

$125,000 — $50,000 in 2004 to support our research policy initiative and $75,000 in 2006 for general operating support.

Citigroup Foundation

$200,000 — $25,000 in 2004 for general operating support, $100,000 in 2005 and $75,000 in 2006 to support the business planning and launch of Housing Partnership Securities.

Credit Suisse

$320,000 in 2006 for the Gulf Coast Housing Partnership.

Deutsche Bank

$50,000 in 2005 to support the business planning and launch of Housing Partnership Securities.

F.B. Heron Foundation

$50,000 — in 2006 for general operating support.

Fannie Mae Foundation

$1,255,000 — three-year (2004-2007) $1.05 million grant for general operating support in 2004, $150,000 in 2005 and 2006 for business planning for our CDFI Conduit, and $100,000 to underwrite the Urban Institute's research on the production and business models of housing partnerships.

Ford Foundation

$150,000 in 2006 to support development of our mortgage lending initiative.

Freddie Mac

$280,000 — $30,000 in 2005 and 2006 to support our membership meetings, $125,000 in 2005 to help launch Gulf Coast Housing Partnership, and $125,000 in 2004 for our mortgage counseling initiatives.

John D. and Catherine T. MacArthur Foundation

$775,000 — $200,000 in 2004 to support our policy research initiative, three-year (2005-2007) $375,000 grant in 2005, $75,000 in 2005 for business planning for our CDFI Conduit, and $125,000 in 2006 to help launch the Gulf Coast Housing Partnership.

Merrill Lynch Community Development Company

$25,000 — in 2006 to support development of our mortgage lending initiative.

NeighborWorks America

$500,000 — three-year (2006-2008) grant in 2006-2008 to support the Gulf Coast Housing Partnership.

NorthMarq Capital

$30,000 operating support grant in 2006.

State Street Foundation

$150,000 — $100,000 in 2004 and 2005 to support the business planning and launch of Housing Partnership Securities, and $50,000 in 2006 for business planning for our CDFI Conduit.

Surdna Foundation

$210,000 — $50,000 in 2005 for general operating support in 2005, and a two-year, $160,000 operating support grant in 2006.

US Department of Housing and Urban Development

$5,400,000 — $1.5 million in 2004, $1.8 million in 2005 and $2.1 million in 2006 to fund Housing Partnership Counseling.

Yale School of Management/Goldman Sachs Foundation

$44,000 to the Network for Housing Partnership Insurance in a 2005 award from the Partnership on Nonprofit Ventures business plan competition.

Investments

The following banks, foundations, and government agencies have made significant investments in the Housing Partnership Fund, Housing Partnership Ventures, Housing Partnership Insurance, Housing Partnership Securities, and the Gulf Coast Housing Partnership.

Citigroup

$5,500,000 — $5 million line of credit and $500,000 equity investment in the Housing Partnership Fund. Citigroup is one of two investors on the Fund's loan committee.

Deutsche Bank

$2,200,000 — $2 million line of credit and $200,000 equity investment in the Housing Partnership Fund.

Enterprise Community Partners

$2,000,000 in long-term subordinate debt to help capitalize the Gulf Coast Housing Partnership.

Fannie Mae

$14,000,000 line of credit to the Gulf Coast Housing Partnership for pre-construction acquisition and development expenses.

Fannie Mae Foundation

$500,000 loan to the Housing Partnership Fund.

Bank of America

$2,200,000 — $2 million line of credit and $200,000 equity investment in the Housing Partnership Fund.

HSBC Bank

$2,200,000 — $2 million line of credit and 200,000 equity investment in the Housing Partnership Fund. Serves as trustee and paying agent for the Fund.

Key Bank

$3,000,000 — $2.5 million line of credit and $500,000 equity investment in the Housing Partnership Fund.

John D. and Catherine T. MacArthur Foundation

$2,500,000 program related investment in the Housing Partnership Fund to help capitalize the multifamily development and preservation products.

Merrill Lynch Community Development Company

$13,800,000 — $3 million line of credit and $300,000 equity investment in the Housing Partnership Fund. Merrill Lynch CDC is one of two investors on the Fund loan committee and serves as agent for the senior bank syndicate and chairs the Investor Advisory Committee. $8 million line of credit to Housing Partnership Ventures, which helped launch Housing Partnership Insurance, Housing Partnership Securities, and the Gulf Coast Housing Partnership. $2.5 million letter of credit for Housing Partnership Insurance.

US Bank

$500,000 equity investment in the Housing Partnership Fund.

US Congress

$9,320,000 in federal earmarks in 2003 and 2006 to capitalize the Network's housing-related ventures, helping us launch Housing Partnership Insurance, Housing Partnership Securities, the Gulf Coast Housing Partnership, Housing Partnership Securities, and future ventures.

US Department of Housing and Urban Development

$2,200,000 in restricted incentive fees from a joint venture partnership agreement with the Network in the Portfolio Reengineering Demonstration. Used as core capital for the Housing Partnership Fund.

US Department of Treasury — CDFI Fund

$1,500,000 in subordinate loans awarded to the Housing Partnership Fund, matching the investment terms of program related investments made by the MacArthur and Fannie Mae foundations.

Wachovia Corporation

$2,200,000 — $2 million line of credit and $200,000 equity investment in the Housing Partnership Fund.