NeighborWorks America Helps Nonprofits Navigate NSP with Do's and Don'ts Accounting Webinar

With more than $7 billion of federal money flowing into communities through the Neighborhood Stabilization Program (NSP), and nonprofit organizations playing a key role in using the funds to strengthen neighborhoods affected by foreclosure, NeighborWorks America, in partnership with the Lydon, Fetterolf, Corydon, P.A., recently offered tips on navigating the processes of cost allocation and reimbursement for nonprofit NSP grantees. In all, 38 organizations discussed how to accurately manage the NSP process under the rules established by the Office of Management and Budget in Circular A-122.

"The rules for NSP and other similar federal programs can be a challenge for nonprofit organizations who are not accustomed to managing federal funds, and the consequence of missteps can be delayed reimbursement or in the worst case, having to return grant funds to HUD,” said Sarah Greenberg, senior manager, Community Stabilization, at NeighborWorks America.

There are 109 organizations in the NeighborWorks network managing over $146 million of NSP Round 1 funds, and an additional 19 NeighborWorks network organizations are direct recipients of competitive NSP Round 2 funds. NeighborWorks America believes that it’s important for all participating nonprofits to have the best guidance on running a cost-effective program.

The webinar is part of NeighborWorks America's overall effort to make information readily available to nonprofits working to restore communities devastated by the foreclosure crisis. To this end, NeighborWorks will also be hosting a peer convening for nonprofit NSP2 grantees in Philadelphia on August 16, 2010, as part of the NeighborWorks Training Institute.

Other information on best practices, case studies, and the latest news and research are available at www.StableCommunities.org.

Community HousingWorks VISTAs Selected as Finalists in AmeriCorps Video Contest

Three VISTA volunteers serving at Community HousingWorks, a NeighborWorks organization in San Diego, CA, have submitted a video for the 2010 AmeriCorps Video Contest. Their entry, "What Does 'A' Mean to You?" was selected as one of the five finalists! Voting to determine the winning video takes place July 20-July 30, 2010. Check it out below or go here to view it and the other finalists.

Training In the Gulf Shows NeighborWorks Impact

The oil spill has provided new challenges for community development activities in the Gulf.

NeighborWorks America has taken steps to assist our local Gulf partners in their efforts to respond to the oil spill and its long term impacts with grants and technical assistance.

We also sponsored specialized training for Vietnamese American fishers and their families in Biloxi, Mississippi, which focused on media and messaging. In an interview with CNN, these Vietnamese American fishers were able to take true advantage of NeighborWorks' training and make their voices heard. View the interview.

Additional NeighborWorks-sponsored workshops in July and August will share skills in community assessment and program development so that community leaders can increase their effectiveness in responding to emerging needs.

NeighborWorks Organization Serving the Navajo Nation Recognized for Accomplishments Despite Great Obstacles

NeighborWorks member organization Navajo Partnership for Housing was recently featured in American Banker magazine and National Mortgage News. The New Mexico-based organization was recognized for accomplishments in providing homebuyer education and in working hard against great obstacles to bring mortgage financing to an underserved population.

Over the past 15 years, the organization has provided grants and loans to families to help them buy, build and rehabilitate homes in an area where very little mortgage infrastructure exists.

The article says, "The scrappy nonprofit, which will mark its 15th year of doing the practically impossible next year, has bucked the housing depression to continue to bring mortgage finance to members of the Navajo Nation on or near their giant reservation, which sprawls across New Mexico, Arizona and Utah.”

Congratulations to Executive Director Lanalle Smith and all her staff for this well deserved recognition.

Read “They May Not Be Miracle Workers but They’re Close.”

NeighborWorks America Awards $35 Million for Green Housing Rehab

NeighborWorks America is awarding $35 million to 117 local NeighborWorks organizations and two NeighborWorks-affiliated capital corporations — Community Housing Capital and NeighborWorks Capital — to rehabilitate or finance the rehabilitation of affordable housing nationwide, including smaller and rural communities with affordable housing needs.

The Capital Funding for the Rehabilitation of Affordable Housing (CFRAH) grants will enable local NeighborWorks organizations to develop or continue to fund:

• Revolving loan funds for rehabilitation lending for owner-occupied property;


• Rehab of residential rental housing currently owned by local NeighborWorks organizations;
• Rehab of residential rental housing that is newly acquired or will be acquired by local NeighborWorks organizations;


• Rehab of single family homes that will be acquired or have been recently acquired by local NeighborWorks organizations and will be sold to homeowners.

“We thank Congress for their ongoing support of affordable housing needs in our nation’s communities. Because of the grants announced today, thousands of rental and owner-occupied units will be rehabilitated, the majority through the use of state of the art green strategies, which will not only recreate a healthier home for families, but also support healthier communities,” said Ken Wade, CEO of NeighborWorks America.

In addition to enabling organizations to acquire and rehab properties, the $35 million in grant funding will also jump start local economies, creating more than 1,100 local jobs.

More information is available in the NeighborWorks Newsroom. More details, including a full listing of organizations receiving grants, is available at www.nw.org/cfrah.