Sometimes numbers – rather than words – best illustrate the point. This is certainly the case for NeighborWorks America (NWA), which released its impact numbers for federal Fiscal Year (FY) 2021.
The data clearly demonstrates that not only is NWA’s huge impact deepening across the country – it also remains a sound investment for Congress.
NWA’s total investment for FY 2021 was almost $17 billion. This number reflects the sum of the total development costs for commercial real estate development, rental production (including repair), real estate developed for sale, the value of commercial loans made, the costs of repairs to owner-occupied units, total financing homeownership, among other factors.
Of particular interest to many is the return on investment yielded by congressional appropriations. NWA is congressional chartered and receives an annual core appropriation from lawmakers. FY 2021 numbers finds NWA yielding $102 in local investment from every one dollar in its core appropriation from Congress.
The data was collected by NWA staff from all NeighborWorks America network organizations, which includes Lewis & Clark Development Group. CommunityWorks North Dakota, which is part of LCD Group, is the state’s only NWA chartered network organization.
NWA’s Impact on North Dakota – Thanks to LCD Group
Brent Ekstrom, LCD Group executive director, says North Dakota’s figures reflect an even greater return on investment.
LCD Group received $461,000 in grants out of the congressional core appropriation. With these funds, LCD Group – through CommunityWorks North Dakota – was able to leverage $229 in local investments for every one dollar received from Congress.
“It’s really an outstanding return on investment and one that we are proud of and diligently maintain,” said Ekstrom.
“We are sticklers for managing every grant dollar we receive and matching those dollars with as much private investment as possible to maximize its impact.”
Ekstrom notes LCD Group’s impact has significantly deepened since the organization has moved into property management services. In addition to increasing the amount of its rental properties, LCD Group has also expanded staff to serve tenants.
With two months left in this fiscal year, Ekstrom says LCD Group is on track to match or exceed FY 2021’s numbers.
“The numbers are great. They validate our work but behind each figure is a life touched. A family able to rehabilitate a home. A senior able to find an affordable home. A community able to keep quality and affordable housing available. That’s how we measure success,” says Ekstrom.
“As I always ask our local leaders and congressional delegation: Imagine if CommunityWorks didn’t exist? Who would step up to fill the need? The numbers speak volumes about how important we are to North Dakota.”
About NeighborWorks America
NeighborWorks America is a congressionally chartered, national, nonpartisan nonprofit that provides access to homeownership and safe and affordable rental housing through its chartered member organizations in all 50 states, the District of Columbia, and Puerto Rico.
For more than 40 years, the Neighborhood Reinvestment Corporation, known as NeighborWorks America, has offered grant funding, peer-exchange, technical assistance, evaluation tools, and access to training, as the nation’s leading trainer of housing and community development professionals.
CommunityWorks North Dakota was founded in 1995 as part of the Lewis & Clark Development Group. It is a 501(c)(3) nonprofit with a mission of addressing housing issues, particularly for low- and moderate-income families and individuals.
NeighborWorks network organizations, like LCD Group, provide residents in their communities with affordable homes, owned and rented; financial counseling and coaching; community building through resident engagement; and collaboration in the areas of health, employment and education.
For more information, visit www.neighborworks.org.