Ford, Hilton Foundation, and JPB Foundation Join others in Collaborative Fund to Address Housing Instability
Understanding that stable homes provide an important platform for individual success and thriving communities, nine of the nation’s largest private foundations have joined forces to create the Funders for Housing and Opportunity collaborative, with the goal of ensuring individuals and families across America who spend more than half of their income on rent — or have no homes at all — will be able to afford safe, stable rentals in thriving communities.
Together, Funders for Housing and Opportunity will commit grant dollars that will be used to catalyze systemic change; $4.9 million has already been committed to four grantees over the next three years. Members of the new collaborative include: The Annie E. Casey Foundation, Bill & Melinda Gates Foundation, Conrad N. Hilton Foundation, Ford Foundation, John D. and Catherine T. MacArthur Foundation, The JPB Foundation, The Kresge Foundation, Melville Charitable Trust, and Oak Foundation.
There is a strong connection between safe, affordable housing and better life outcomes. But for too many Americans, that is just a distant dream. In no state can a person earning the minimum wage and working 40 hours per week afford to rent a basic two-bedroom apartment, even in states where the minimum wage is set above the federal level, according to the National Low Income Housing Coalition...