| Type | Nonprofit - Congressionally Chartered |
|---|---|
| Industry | Affordable Housing and Community Development |
| Founded | 1978 |
| Headquarters | Washington, DC, USA |
| Key people |
Eileen Fitzgerald, Chief Executive Officer Paul Kealey, Acting Chief Operating Officer Michael Forster, Chief Financial Officer Jeffrey T. Bryson, General Counsel/Secretary |
| Products | CounselorMax Organizational Assesment Services Success Measures Training |
| Operating income | US $312,437,291 (FY 2010) |
| Website | www.nw.org |
The Neighborhood Reinvestment Corporation, doing business as NeighborWorks America,is a Congressionally chartered nonprofit organization that supports community development in the United States. The organization provides grants and technical assistance to 235 U.S. community development organizations.NeighborWorks America provides training for housing and community development professionals through its national training institutes.[1] Since 2007, NeighborWorks America has administered the Congressionally created National Foreclosure Mitigation Counseling Program.[2]
The NeighborWorks network comprises 235 community development organizations working in nearly 4358 urban, suburban and rural communities across the country.
The Neighborhood Reinvestment board of directors consists of the Assistant Secretary of Housing and Urban Development, a member of the Board of Governors of the Federal Reserve System,a member of the Chief Counsel Office of the Comptroller of the Currency, the Director of the Office of Thrift Supervision and a member of the Board of the National Credit Union Administration. The chairman of the board is Thomas J. Curry, Director of the Federal Deposit Insurance Corporation.[3]
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The nonprofit organization known as NeighborWorks America started in 1968, when a resident of Pittsburgh, Pennsylvania's Central North Side, started a campaign for better housing in her neighborhood. She worked with city bankers and government officials to convince 16 financial institutions to give out conventional loans in the community. This organization was named the Neighborhood Housing Services (NHS).[4]
In 1970 the Federal Home Loan Bank, using the model of NHS Pittsburgh, started training savings and loan officers for urban areas. They become workshops for creating organizations like NHS. These are known as NeighborWorks Organizations today. NHS Pittsburgh is now a NeighborWorks Organization called NeighborWorks Western Pennsylvania.[5]
In 1984 the first Neighborhood Housing Week (now called NeighborWorks Week) was congressionally established. President Ronald Reagan proclaimed a national observance.[6]
During the 1980s the Ad Council worked with Neighborhood Reinvestment Corporation and created “NeighborWorks.”[7]
Neighborhood Reinvestment Corporation began doing business as NeighborWorks America in 2005.[8]
From 2005 to 2010, the NeighborWorks organizations have generated more than $8.5 billion in reinvestment and helped more than 500,000 families purchase or improve their homes or secure safe, decent rental or mutual housing.[9]
In June 2011 the U.S. Department of Housing and Urban Development in partnership with NeighborWorks America, launched the Emergency Homeowners' Loan Program to assist homeowners across the country at risk of foreclosure.[10]