2012 WAS A YEAR OF SIGNIFICANT ACCOMPLISHMENTS FOR THE NHP FOUNDATION (NHPF). The solid growth trajectory we envisioned in last year’s annual report has been realized and we are pleased to share highlights from this past year with you. By creating, rehabilitating, preserving, acquiring and developing affordable properties, we are growing the NHPF portfolio. We are particularly pleased with high occupancy rates across the portfolio as well as particular property enhancements in the New York, St. Louis, Washington, DC, Stamford, Connecticut and Orange, New Jersey markets. Our resident services division—Operation Pathways—had another great year in its ongoing quest to create thriving communities for NHPF’s residents. NHPF has shown its support of these efforts through a major contribution to Operation Pathways’ 2012 funding. We thank the generous organizations who joined us in giving their support. We are pleased with the continuing growth of our Affiliate Program under the new leadership of Jamie Smarr. The Virginia Affiliate—the Falls Church Housing Corporation—and the Washington, DC Affiliate— now known as the Roundtree Residences—continue to make great strides and meaningful improvements in the lives of their residents. At the conclusion of the 2012 fiscal year, the handing over of the Chairman’s gavel to Ralph F. Boyd, Jr. marked a smooth and effective transition in board governance. It’s clear that Ralph is committed to growing a portfolio of affordable housing our tenants can take pride in. We are so pleased the 2013 fiscal year began under his leadership. Tom Carr, who is stepping down as Chairman, will remain as a Trustee. At the conclusion of this annual report, please read Ralph’s reflections on the path ahead for 2013 and beyond. Looking forward, the market-driven threats to affordable housing in this country remain a looming crisis—not just for low- and moderate-income families and seniors but for our nation and its economic strength. For this reason and so many more, NHPF remains committed to our mission and grateful for your ongoing support.
Thomas Carr
Richard F. Burns
Chairman, Board of Trustees
Chief Executive Officer
(THROUGH DECEMBER 2012)
1
Powered by FlippingBook