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Non-profit

National Housing Trust Community Development Fund

Website:

www.nationalhousingtrust.org
Location:

WASHINGTON, DC
Tax ID:

31-1539762
Tax-Exempt Status:

501(c)(3)

Budget (2020):

Revenue: $3,891,792
Expenses: $1,123,976
Assets: $30,006,146
Type:

Low-income housing lender
Founded:

1997
President:

Priya Jayachandran

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National Housing Trust Community Development Fund (NHTCDF), an affiliate of National Housing Trust, provides funding and loans for the development and preservation of low-income communities. NHTCDF is chartered as a community development financial institution (CDFI), 1 which are typically focused on providing financial support to low-income communities 2 and can receive funding from U.S. Department of the Treasury programs and from organizations and individuals as a nonprofit organization. 3

Background

National Housing Trust Community Development Fund was established in 1997 by National Housing Trust (NHT) to provide loan products to housing providers focused on the development and preservation of low-income housing. 4 NHTCDF is tax-exempt and is a supporting organization to the National Housing Trust. 5 It shares office space with NHT and leverages NHT’s staff. 6

NHTCDF is a Community Development Financial Institution (CDFI), which is a private-sector financial institution focused on low-income housing development and preservation. CDFIs can get federal funding from the U.S. Department of the Treasury and also accept donations and contributions from organizations and individuals as a nonprofit organization. 7

Lending

National Housing Trust Community Development Fund has provided over $44 million in loans and preserved more than 13,000 low-income housing units as of March 2023. 8

Loan products include those for pre-development planning, land or building acquisition, bridge loans to developers, property improvements to support renewable energy solutions, and earnest money deposits (EMD) to tenants’ associations to enable tenant ownership of housing through the TOPA EMD loan program. 9 TOPA refers to the District of Columbia’s Tenant Opportunity to Purchase Act and was developed in partnership with City First Enterprises. 10 11

NHTCDF is the Affordable Housing Opportunity Fund (AHOF) manager in Montgomery County, Maryland. The Fund provides short-term loans to purchase or improve low-income housing. 12

In October 2022 NHTCDF provided the earnest money to La Union Buena Vista Tenants’ Association in the Columbia Heights neighborhood in Washington, D.C., to go through D.C.’s Tenant Opportunity to Purchase Act process and purchase the property for tenant ownership. 13

National Housing Trust is the controlling organization for NHTCDF and its affiliates the Institute for Community Economics and NHT Communities. 14

Institute for Community Economics (ICE) is another CDFI operated by National Housing Trust. 15

NHT Communities was previously known as National Housing Trust Enterprise Preservation Corporation until 2019. 16 It is the real estate acquisition and management arm of National Housing Trust. 17

Funding

NHTCDF reported $1,937,946 in revenue and $619,300 in expenses for 2019. 18

In 2020 NHTCDF was awarded $2,524,000 through the U.S. Department of the Treasury Community Development Financial Institutions Program. 19

Enterprise Community Partners, a nonprofit low-income development and advocacy organization, 20 donated $1.8 million to NHTCDF in 2019. 21

Leadership

Priya Jayachandran became president and CEO of NHTCDF in 2018. Previously she was a senior vice president at Volunteers of America (VOA) focused on affordable housing development. Prior to VOA she was a deputy assistant secretary at the Department of Housing and Urban Development (HUD) focused on multifamily housing. 22 Jayachandran is also president of National Housing Trust and affiliate organization NHT Communities. 23 24

Dan Ehrenberg is board chair of NHTCDF. He is an attorney and partner at Klein Hornig LLP which focuses on legal support for all aspects of affordable housing. 25 Previously Ehrenberg was an attorney for Volunteers of America (VOA) which is one of the largest low-income housing providers in the country and for Neighborworks America, a congressionally chartered and funded organization that supports low-income housing. 26

Some of the officers of National Housing Trust are also officers of NHTCDF. The National Housing Trust Community Development Fund board members are appointed by the National Housing Trust board. 27

References

  1. Josh Earn.” National Housing Trust – Who We Are – Staff. Accessed March 29, 2023. https://nationalhousingtrust.org/who-we-are/josh-earn
  2. Emily Guy Birken, Daphne Foreman. “What Is A Community Development Financial Institution (CDFI)?” Forbes Advisor. September 29, 2020. Accessed March 29, 2023. https://www.forbes.com/advisor/banking/what-is-a-cdfi-community-development-financial-institution/
  3. James Chen. “Community Development Financial Institution (CDFI).” Investopedia. February 4, 2021. Accessed April 1, 2023. https://www.investopedia.com/terms/c/cdfi.asp
  4. National Housing Trust Community Development Fund Financial Statements (With Supplementary Information) and Single Audit Report and Independent Auditor’s Reports December 31, 2020 and 2019. Propublica. Accessed March 30, 2023. https://projects.propublica.org/nonprofits/display_audit/22726020201
  5. National Housing Trust Community Development Fund Financial Statements (With Supplementary Information) and Single Audit Report and Independent Auditor’s Reports December 31, 2020 and 2019. Propublica. Accessed March 30, 2023. https://projects.propublica.org/nonprofits/display_audit/22726020201
  6. National Housing Trust Community Development Fund Financial Statements (With Supplementary Information) and Single Audit Report and Independent Auditor’s Reports December 31, 2020 and 2019. Propublica. Accessed March 30, 2023. https://projects.propublica.org/nonprofits/display_audit/22726020201
  7. James Chen. “Community Development Financial Institution (CDFI).” Investopedia. February 4, 2021. Accessed April 1, 2023. https://www.investopedia.com/terms/c/cdfi.asp
  8.  “NHT Community Development Fund.” National Housing Trust – Our Work – Lending. Accessed April 1, 2023. https://nationalhousingtrust.org/our-work/lending/nht-community-development-fund
  9. “NHT Community Development Fund.” National Housing Trust – Our Work – Lending. Accessed April 1, 2023. https://nationalhousingtrust.org/our-work/lending/nht-community-development-fund
  10. “Earnest Money Deposit Loans.” National Housing Trust – Our Work – Lending. Accessed April 1, 2023. https://nationalhousingtrust.org/our-work/lending/earnest-money-deposit-loans
  11. “Understanding the Tenant Opportunity to Purchase Act.” DC.gov – Department of Housing and Community Development. January 27, 2020. Accessed April 2, 2023. https://dhcd.dc.gov/event/understanding-tenant-opportunity-purchase-act-topa
  12. “Affordable Housing Opportunity Fund.” National Housing Trust – Our Work – Lending. Accessed April 1, 2023. https://nationalhousingtrust.org/sites/default/files/documents/nht-lending-ahof-loan-terms-summary.pdf
  13. “NHT Helps La Unión Buena Vista Tenants Association Take Their First Steps in TOPA Process.” National Housing Trust – NHT Updates. October 30, 2022. Accessed April 1, 2023. https://nationalhousingtrust.org/news/nht-helps-la-union-buena-vista-tenants-association-take-their-first-steps-topa-process
  14. National Housing Trust. Return of Organization Exempt From Income Tax. (Form 990 – Schedule R). 2020.
  15. CRA Rulemaking Comment Letter: National Housing Trust (NHT). Novogradac. August 4, 2022. https://www.novoco.com/sites/default/files/atoms/files/occ-cra-rulemaking-2022-0002-national-housing-trust-08042022.pdf
  16. NHT Communities. Return of Organization Exempt From Income Tax. (Form 990 – Part I). 2019.
  17. Donna Kimura. “Nonprofits Acquire Maryland NOAH Property.” Affordable Housing Finance. August 19, 2021. Accessed March 31, 2023. https://www.housingfinance.com/developments/nonprofits-acquire-maryland-noah-property_o
  18. National Housing Trust Community Development Fund. Return of Organization Exempt From Income Tax. (Form 990 – Part I). 2019.
  19. National Housing Trust Community Development Fund Financial Statements (With Supplementary Information) and Single Audit Report and Independent Auditor’s Reports December 31, 2020 and 2019. Propublica. Accessed March 30, 2023. https://projects.propublica.org/nonprofits/display_audit/22726020201
  20. “About.” Enterprise Community Partners. Accessed April 1, 2023. https://www.enterprisecommunity.org/about
  21.  Enterprise Community Partners Inc. Return of Organization Exempt From Income Tax. (Form 990 – Schedule I.) 2019.
  22. “National Housing Trust Names Priya Jayachandran President.” NH&RA (National Housing & Rehabilitation Association). Accessed March 29, 2023. https://www.housingonline.com/2018/01/10/national-housing-trust-names-priya-jayachandran-president/
  23. National Housing Trust. Return of Organization Exempt From Income Tax. (Form 990 – Part VII). 2020.
  24. NHT Communities. Return of Organization Exempt From Income Tax. (Form 990 – Part VII). 2020.
  25. LinkedIn – Dan Ehrenberg. Accessed April 1, 2023. https://www.linkedin.com/in/dan-ehrenberg-75240a13/
  26. “Daniel S. Ehrenberg.” Klein Hornig LLP – Professionals. Accessed April 1, 2023. https://www.kleinhornig.com/professional/d_ehrenberg/
  27. National Housing Trust Community Development Fund. Return of Organization Exempt From Income Tax. (Form 990 – Schedule O). 2019.
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: August 1, 1997

    • Available Filings

    Period Form Type Total revenue Total functional expenses Total assets (EOY) Total liabilities (EOY) Unrelated business income? Total contributions Program service revenue Investment income Comp. of current officers, directors, etc. Form 990
    2020 Dec Form 990 $3,891,792 $1,123,976 $30,006,146 $15,045,573 N $2,582,957 $1,143,838 $76,183 $0
    2019 Dec Form 990 $1,937,946 $619,300 $29,399,720 $17,179,233 N $1,455,143 $434,336 $32,627 $0 PDF
    2019 Jun Form 990 $1,018,092 $868,193 $26,970,005 $16,104,038 N $86,000 $843,839 $80,280 $0 PDF
    2018 Jun Form 990 $1,178,146 $889,323 $23,263,905 $12,636,283 N $517,842 $587,105 $77,388 $0 PDF
    2017 Jun Form 990 $852,616 $900,522 $22,500,743 $12,193,252 N $150,200 $631,264 $75,759 $0
    2015 Jun Form 990 $526,366 $481,764 $18,221,909 $8,434,677 N $119,692 $373,041 $52,282 $0 PDF
    2014 Jun Form 990 $1,095,743 $743,417 $19,078,167 $9,319,614 N $658,431 $387,372 $44,848 $0 PDF
    2013 Jun Form 990 $4,209,416 $790,799 $15,886,771 $6,067,282 N $3,791,301 $330,357 $87,758 $0 PDF
    2012 Jun Form 990 $6,443,864 $3,351,602 $11,492,250 $5,120,490 N $6,119,920 $235,382 $88,562 $0 PDF
    2011 Jun Form 990 $2,280,443 $931,338 $8,524,225 $5,218,343 N $2,005,637 $175,032 $99,774 $0 PDF

    Additional Filings (PDFs)

    National Housing Trust Community Development Fund

    1101 30TH STREET NW
    WASHINGTON, DC 20007-3708