NHPF Annual Report 2018

The NHP Foundation Fiscal Year 2018 Annual Report

Where You Live Matters

A Portfolio with an Emphasis on Social Responsibility

In 2018, our organization continued the focus of our mission, by acquiring and developing 10 additional affordable rental properties. Our real estate portfolio of 49 properties consists primarily of multifamily and senior affordable rental buildings. Maintaining a diversified portfolio of quality affordable rental housing leased to strong residents helps ensure the stability of our investments and impact in the communities where we are active. The strength of our portfolio is enhanced by the experience of our Asset Management and Development teams, in their abilities to maximize the potential outputs at our properties, while securing long-term operational investments throughout the NHPF portfolio. This was evident as we achieved stable occupancy over the course of 2018, with a vacancy rate between 3.1% and 4%; half the US Rental Vacancy rate of 7%, while adding an additional 1,218 units or increasing our units by 17% from 2017. Our organization’s various internal departments work in combination conducting research and a thorough financial review and analysis of future projects to determine how NHPF can best meet the needs and improve the environment of our future residents. These professional skills were fully realized over the course of the year, as our resident population grew 13% or by 4,203 residents. Through this disciplined investment process, our acquisitions department establishes and maintains strong relations with residents, tenant associations, property owners, developers, brokers, and advisors. Managing our portfolio with an emphasis on social responsibility is essential to our continued success. Going forward, our company remains committed to being socially and environmentally responsible, and to conducting our business according to the highest industry standards. We will always play an active role in supporting the community through civic involvement and social governance. These values are reflected within our organization through strategies centered on encouraging a culture of inclusion, collaboration, transparency, and respect.

Constructing Success: A Commitment to Our Communities & Our Industry

In 2018 NHPF earned a spot in the affordable housing industry “Top 10 Companies Completing Substantial Rehabs” and “Top 50 Affordable Housing Owners.” Our ongoing commitment to HUD’s Better Buildings Challenge resulted in environmental improvements demonstrating annual water consumption savings estimated to exceed 70 million gallons. This past year, our Resident Services affiliate, Operation Pathways was the first to be certified by CORES, a best practices industry organization and served 4,375 individuals.

Today, NHPF has 49 properties with over 8,000 units.

Richard F. Burns

But numbers never tell the whole story . . .

This past year, and every year, NHPF is most proud of how our apartment communities provide home bases from which residents accomplish goals that propel them through life. For example, Kenicha, a single mother, credits a stable living environment with her ability to become a registered nurse. And Gennifer, a chronic diabetic, worked with her resident services coordinator to identify a new, affordable prescription plan to cover her medical costs. In 2019, our 30th year in operation, NHPF will continue to deliver for our residents by looking to add 1000+ housing units and expand to new markets. Our goals also include securing new long-term investment in housing. This investment will allow NHPF to continue to fulfill our mission in the years to come and is also the focus of our third annual Symposium, Affordable Housing Investment: Impactful Returns Realized. For 2019 and beyond, NHPF will always put investment in our residents first and will always ensure that “where you live matters.”

Richard F. Burns President & Chief Executive, NHPF

Financial Partners, Donors, & Sponsors

Mansur Abdul-Malik Abe Wood Inc. Robert Abrams Mecky Adnani Affordable Housing Advisors African Heritage Teachers Stipend Ramon Aggabao AGM Financial Services AHC Inc. Alphonse Diaz Architects PC

City of Orange NJ City Real Estate Advisors (CREA) Clark Construction Group CMQ Flooring Mary Cochuico Cogency Global, Inc. CohnReznick LLP Columbia Baptist Church Conifer Realty, LLC Connecticut Housing Finance Agency Connecticut Housing Tax Credit Contribution Program Cushman & Wakefield Darien Community Fund DC Department of Housing and Community Development DC Housing Finance Agency (DCHFA) Delaware Valley Mental Health / Foundation Community Partnership Deutsch-Khanna Family Fund Patricia Diaz Dennis District of Columbia Housing and Community Development Fund District of Columbia Housing Finance Agency District of Columbia Sustainable Energy Utility Dollar General Literacy Foundation Dominium Draper & Kramer, Incorporated Neal Drobenare Shay Dugan Dulin United Methodist Church Eagle Bank ECS Capitol Services, PLLC Edgewood Management EDI International Energy Wise Enterprise Community Partners Enterprise Real Estate Capital / Bellwether Enterprise Epic Insurance Brokers & Consultants Essex County, NJ Every Kid a King Foundation Exxon Mobile Fannie Mae FCHC: A Virginia Community Development Corporation Federal Capital Partners Federal Home Loan Bank of Atlanta Federal Home Loan Bank of Dallas Financial Partners John Michael Feehan Fifth Ward Redevelopment Authority City of Houston Tanner Finnan First Book Philadelphia First Federal of Bucks County Eileen Fisher Food Bank of South East Jersey Christy Foreman Foundations Community Partnership–BIIG Fox Pool Management Connecticut Light & Power Crenshaw Communications

Gallagher Evelius & Jones LLP Goldstein Hall PLLC

Tiffany Martinez Carol Ann Mason Mass Mutual McCormack Baron Asset Management

Sharps Landscaping, Inc. Shez Ent. Inc. (SUBWAY) Shinda Management Corporation Shoprite Jamie Smarr Smith, Currie & Hancock LLP Ian Sobel Sodexo Remote Sites Souther University Joseph Sperlazzo St. John’s Community Foundation, Inc. State Farm State of Louisiana / Office of Community Development / Disaster Recovery Unit Kendra Stensven Stifel Stratford Capital Group Sugar Creek Capital Frank L. Sullivan, Jr. Suntrust United Way Campaign TCAM Asset Management Texas Department of Housing & Community Affairs The David and Minnie Berk Foundation The Ford Foundation The Frost Foundation The John D. and Catherine T. MacArthur Foundation

Carlos Gonzales GPOA Foundation Greater New Orleans Foundation Stephen Green Gulf Youth Action Corps / Americorps Dawn Gutierrez Hallkeen Management Hamel Builders of Washington, DC Carolyn Hardaway Healthy City Fall River Heron Foundation Nancy & Donald Hess Hessel, Aluise & Neun, PC Hewlett Packard Hillcrest Foundation John Hoffer Holland & Knight LLP Home Depot Foundation Homefree-USA Housing & Urban Development Evelynn Howell Hudson Housing Capital Iberia Bank Mortgage Company Industrial Development Authority of the City of St. Louis, MO Inspire Credit Union

Merchants Capital Metlife Foundation Michael Franklin Missouri Housing Development Commission Fred Mitchell Morris, Manning & Martin, LLP Joyce Moskovitz NAHMA Educational Funding National Housing & Rehabilitation Association (NH&RA) National Housing Trust National Housing Trust Community Development National Multifamily Housing Council Neighbor Works America New Jersey Housing and Mortgage Finance Agency New Jersey Shares New York City Housing Development Corporation Niagara Cares / Niagara Bottling No Child Hungry Novogradac & Company LLP Oldways Oldways Taste of African Heritage Grant Olive Branch Consulting, Ltd. Susan & Keith Orgeron Elizabeth Ortmann John Ortmann

Sunny & Bill Alsup Amazon Foundation

Amerigroup Foundation Amerigroup Corporation Pamela Anderson-Livingston

Angelina & Huey Wilson Foundation Applegate & Thorne-Thomsen PC Archdiocese of Philadelphia Asset for Independence IDA (HHS)

AT&T Foundation Azar Foundation

Pauline Baculi BancorpSouth Bank of America Merrill Lynch Scott Barkan Josefina Barredo BBV Compass Foundation BBVA Compass Beacon Communities Becker & Becker Bellwether Enterprise Benchmark Title Agency LLC Berk Foundation Best Buy Best Buy (Children’s Foundation) Bocarsley Emben Cowan Esmail & Arndt LLP Bottom Dollar Food Store Ralph Boyd, Jr. Charlene Brisco Al Browne Bucks County, PA Bucks County Community Foundation Bucks County Food Bank Bucks County Opportunity Council Diane & Richard Burns Family Bush-Clinton Katrina Fund Caleco Cannon Heyman & Weiss LLP Capital One Carmody Torrance Sandak & Hennessey LLP Leslie & Tom Carr Celadon Partners Center for Health Frank Cerbini CHANGE All Souls Housing Corporation Children and Family Legacy Fund Children and Family Services of Jacksonville Chipotle Clause Chow CIH Properties, Inc. Cinnaire Citi Community Capital Citi Group Foundation City of Arlington Housing Rehabilitation Program City of Chicago City of Falls Church CDBG City of Falls Church Community Service Fund City of Houston

JBG Smith Corey John

The Little Fund That Could The MacArthur Foundation The Meadows Foundation The Partnership, Inc. (TPI) The Prudential Financial The Prudential Foundation The Sirus Fund The Wachovia Foundation Ron Tienzo

Jordan Johnson Beverly Johnson Jonathan Rose Companies Jones Lang LaSalle Multifamily, LLC James A. Joseph JPMorgan Chase & Co. JPMorgan Chase Foundation Jennifer Ju Julia & Christopher Sawyer Junior League of Baton Rouge Kaboom! Kaiser Permanente Katten Muchin Rosenman LLP Kelliher & Salzer, LLC

Andrew Pagtakhan Jessie Pagtakhan Gary Parkinson Avani Patel Pembrook Capital Management

Pennsylvania Housing Finance Agency Peoples United Community Foundation Pepper Hamilton, LLP Ethel & T. Peyton Robinson Philabundance PNC Bank PNC Foundation PNC Real Estate Preserving Louisiana Affordable Housing Prince George County Tim Pryor

Tomlinson For State Senate Triad Housing Corporation Tulane University U.S. Bancorp Community Development Corporation U.S. Bank United Way of Houston United Way of Metro Dallas United Way of Western CT Urban Atlantic US Bank US Department of Housing and Urban Development

Kiss Electric LLC Klein Hornig LLP

Philip Lanicho Latter & Blum LEDIC Realty Company, LLC

Qatar Katrina Fund Andrea Quimoyog

Jay Legaspi Kevin Lewis Eryka Lindsey Linn-Mathers Inc. General Contractors and Builders Livi Centeno-Mcnulla Local Initiative Support Corporation (LISC) Locke Lord LLP Louisiana Disaster Recovery Foundation Louisiana Housing Finance Agency Louisiana Pizza Kitchen Louisiana Recovery Authority & Louisiana Office of Community Development Louisiana Local Government Environmental

R4 Capital LLC Clarita Ramos RBC Capital Markets RED Capital Group Red Stone Equity Partners, LLC Redniss & Meade Reginelli Pizzeria Related Companies Renew Our Music, Inc. Reno & Cavanaugh, PLLC Meade Rhoads Pamela Robinson Rogers Yogodzinski LLP Sam’s Club Cherie Santos-Wuest Sarabi Group, LLC Saul Ewing Arnstein & Lehr LLP SBC Foundation Share Our Strength

Thomas Vaccaro Vesta Corporation Walker & Dunlop Walmart Amanda Walz Joyce Walz Washington Gas & Light WC Smith WCS Construction, LLC Wells Fargo Ken White Mary & Joseph Wiedorfer

Sam Wildhallm Barbara W. Wolf

Freddie Mac Corporation Freddie Mac Foundation Friedman LLP Frost Foundation Patrick Fry

Facilities and Community Authority Low Income Investment Fund (LIIF) Jeff Macdonagh MaCrostie Historic Advisors Marcus & Millichap AHA

Amanda Wu Carrie Yeager

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