Midwest Housing Development Fund Inc

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THE MISSION OF MIDWEST HOUSING DEVELOPMENT FUND IS TO PROMOTE SUSTAINABLE COMMUNITY DEVELOPMENT AND QUALITY OF LIFE IN THE MIDWEST BY PROVIDING RESOURCES FOR THE DEVELOPMENT OF AFFORDABLE HOUSING.

Midwest Housing Development Fund Inc.

Midwest Housing Development Fund Inc. (MHDF) is a nonprofit organization dedicated to providing financing solutions for affordable housing projects across the Midwest region of the United States. Established in 2000, MHDF aims to bridge the financial gaps in developing affordable housing through a combination of public and private resources.

Mission

The primary mission of MHDF is to promote sustainable community development and enhance the quality of life in the Midwest by facilitating the development of affordable housing. This is achieved by creating a loan pool that helps finance affordable housing projects, focusing on households with incomes at or below 80% of the area median income, with a priority on those below 60%.

Operations

MHDF operates by raising investments in the form of debt and equity. These funds are used to support sponsors of affordable housing properties who struggle with upfront costs or additional financing needs. MHDF's loans feature a simple application process, quick turnaround, low origination fees, competitive interest rates, flexible repayment terms, and no-cost technical assistance. This assistance includes financial structuring, feasibility studies, and building capacity in local communities.

Impact

Since its inception, MHDF has provided over $198 million in financing, resulting in the creation of more than 9,000 affordable rental housing units. These efforts not only address housing needs but also contribute to economic development by stimulating job creation and improving neighborhood stability. MHDF's involvement in the development stages ensures low loan losses, with less than 0.10% reported over its operational history.

Financial Structure

MHDF operates as a tax-exempt organization, receiving donations and program service revenues. Its financial stability is maintained through a robust asset base, allowing it to deliver on its mission without significant loss. Investors in MHDF can receive quarterly interest payments on their loan capital, often used to support long-term affordable housing projects.

Funding and Partnerships

MHDF collaborates with various financial institutions and community development organizations to leverage resources and maximize its impact. This includes partnerships with banks, community development financial institutions (CDFI), and other philanthropic entities. Such collaborations enable MHDF to access additional funding sources, enhancing its ability to meet growing demands for affordable housing finance in the Midwest.

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Founded

2000

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Omaha

Address: 515 N 162nd Ave Ste 202, OmahaWeb: Sign in to see organisation websiteEmployees: 4Revenue: 5776652ICO: 841686593

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Michelle

How can collaboration between local governments, nonprofits, and private sector entities enhance the effectiveness of initiatives aimed at promoting affordable housing development?

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Simone

What an inspiring mission! Affordable housing is so important for building strong communities. Keep up the great work, MHDF! ❀️🏑

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Miles

Love seeing organizations like MHDF making a real difference! Tackling the housing crisis with innovative financing solutions is truly commendable. Together, we can create a better Midwest! 🌟✨

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Patricia

What innovative financing models have been successful in creating sustainable affordable housing in the Midwest, and how can NGOs further adapt these models?

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