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NeighborWorks America's Budget Justification

Every year, every federally funded entity must develop and present to Congress a detailed budget request for the coming fiscal year, which details the entity's recent accomplishments, how it spent the money that Congress appropriated in the past year, and what the entity expects to accomplish with the new funds it seeks. All requests are included in the President's Budget, which is presented to Congress every February.

FY 2013 Budget Justification

NeighborWorks America has submitted its fiscal year 2013 Budget Justification to Congress. It highlights the Corporation's top policy and funding priorities, and details financial information,and requests a total of $213 million, including:

A Core Budget of $127.1 million to continue to provide financial and programmatic support to affiliated NeighborWorks organizations and the broader community development field in their efforts to revitalize and sustain communities and promote and preserve affordable housing as authorized by the Neighborhood Reinvestment Corporation Act (42 U.S.C. 801-8108). The almost 240 local NeighborWorks organizations are small and medium size businesses that, through their programmatic activity, development, rehabilitation and lending, support over 22,500 jobs in thousands of communities across the nation and contribute to their local economies every day.

An additional $85.9 million, to continue the National Foreclosure Mitigation Counseling (NFMC) Program, in response to the continuing foreclosure problem in FY 2013.
-- As of February 2012, nearly 1.4 million homeowners at-risk of foreclosure had been served through the NFMC program.

The Corporation's actual FY 2013 federal appropriation must be approved by Congress, and the actual appropriation eventually approved could be higher or lower than the amount requested through this Budget Justification.

In FY 2011, NeighborWorks America’s core funding leveraged nearly $4.2 billion in direct investment by local NeighborWorks organizations, and assisted more than 261,600 families with affordable housing needs (homeownership and rental) and housing counseling.

In FY 2013, at the requested appropriation level, NeighborWorks America and the NeighborWorks network will:

Assist 13,500 families to become new homeowners;
Create or preserve 6,500 rental homes;
Own and manage a rental portfolio of 93,000 units;
Preserve 16,000 units of affordable housing;
Repair an additional 30,000 units;
Provide housing counseling to 90,000 individuals;
Generate more than $3.5 billion in investment in distressed communities
Issue 16,800 professional training certificates to affordable housing / community development practitioners; and
Create or sustain more than 21,000 jobs in local communities across America.

And, through the National Foreclosure Mitigation program, will assist an additional 230,000 families facing foreclosure.

Download the full report at: Fiscal Year 2013 Budget Justification [PDF, 1.4 MB]

View final external audit from our last two fiscal years (years ended September 30, 2011 and 2010).

NeighborWorks Budget Justification Archives