Volunteers of America Named Top Nonprofit Owner of Affordable Housing in the U.S.
Affordable Housing Finance magazine also names organization among the top nonprofit developers nationwide
For Immediate Release:
May 8, 2009
Contact: David Burch
(703) 341-5054 or dburch@voa.org
ALEXANDRIA, VA – Volunteers of America, one of the nation’s oldest and largest social service organizations, has been named the top nonprofit owner and one of the leading nonprofit developers of affordable housing in the United States by Affordable Housing Finance magazine.
The ranking of affordable housing owners, published in the magazine’s April/May 2009 issue, lists Volunteers of America third overall when grouped with both for-profit and nonprofit owners. Volunteers of America also was listed as the fifth-largest developer (and second largest nonprofit developer) of affordable housing in the country, up from 43rd on the list last year. The organization is ranked as the 10th-largest developer preserving affordable housing nationwide.
“During this current economic crisis, with countless families losing their homes to foreclosure, there has never been a greater need for more affordable housing in our country,” said Volunteers of America National President Charles W. Gould. “We see quality housing as the foundation for a successful life, and we are proud to continue as a leader in building and preserving affordable homes nationwide.”
The rankings list Volunteers of America as owning 16,833 units of affordable housing, with 836 units in development and 249 completed in 2008. An additional 815 units were acquired by the organization in 2008. These numbers and the rankings include all properties collectively owned or developed by the national organization and its 38 local affiliate offices.
With a readership of more than 11,000, Affordable Housing Finance is the most widely-read publication in the affordable housing field.
Volunteers of America owns and operates more than 320 affordable housing communities in 38 states and Puerto Rico. With a comprehensive variety of housing services, Volunteers of America responds to the varied needs of individuals and families – from sheltering those without homes to assisting first-time homebuyers.
The organization’s nationwide housing portfolio has grown with the help of sponsors like the Fannie Mae Foundation, Harry and Jeanette Weinberg Foundation, Inc., John D. and Catherine T. MacArthur Foundation and through Capital Advance grants from the U.S. Department of Housing and Urban Development. In the area of senior housing, Volunteers of America provides homes to more than 8,000 seniors in 127 communities designed specifically for their needs.
Volunteers of America also is working to build new homes in New Orleans and the Gulf region that will allow displaced residents to rebuild their lives. The “Coming Back Home” initiative aims to create more than 1,000 units of affordable rental housing as part of a partnership with other nonprofits through Katrina Aid Today, an in the process touch the lives of nearly 200,000 people with much-needed care and services.