Fannie Mae Foundation

On February 23, 2007, the Fannie Mae Foundation's sole funder, Fannie Mae, announced that it will consolidate its philanthropic initiatives into the new Office of Community and Charitable Giving, which will build on the Foundation's mission, strengthen and coordinate the corporation's philanthropic commitment, and deepen its relationships rooted in Washington, D.C. In its announcement, Fannie Mae indicated that the corporation will direct its overall philanthropic investments toward three key areas: housing and community development, eliminating homelessness nationwide, and building thriving neighborhoods in the District of Columbia. The corporation's focus on these areas will ensure the Foundation's legacy will continue. The Foundation substantially ceased its day-to-day operations on April 30, 2007.