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ABA Housing Partners Foundation: Frequently Asked Questions
What is the ABA Housing Partners Foundation?
The Foundation is a philanthropic arm of the American Bankers Association raising funds to promote and provide affordable housing across the U.S., specifically in the cities that host ABA's Annual Convention each year.
How long has the Foundation existed?
Originally founded under America's Community Bankers in 1991, the Foundation has provided over $1.9 million in philanthropic support to charities across the U.S. We formally partnered with Habitat for Humanity International in 2001 and through this partnership, we have built 11 Habitat houses across the U.S.
How does the fundraising work?
Each year, the Foundation's goal is to raise enough money to underwrite the cost of a Habitat for Humanity home sponsorship in the city where our Annual Convention takes place.
Is my donation tax deductible?
All donations are tax deductible. The Foundation operates as an IRS 501 (c)(3) corporation.
How does the Foundation determine which Habitat affiliate to work with and where the home will be?
The Foundation works with Habitat for Humanity International to identify an appropriate Habitat affiliate in the area of ABA's Annual Convention based on its ability to work within our budget and timeline. The selected affiliate, in consultation with ABA Housing Partners Foundation, then selects the most appropriate build site in proximity to the Annual Convention city.
How is the family selected?
Family selection is ENTIRELY the decision of the local Habitat affiliate. The local affiliate ensures that the applicants meet all local and national standards. Income verification, credit worthiness, ability to repay a no-profit mortgage, current living conditions, and willingness to contribute "sweat equity" toward the construction of Habitat homes all factor in to a candidate's selection. Applicants undertake extensive financial and budget counseling, and are paired with a Habitat volunteer who works with the family once they move into their new home to ensure that the family will remain in the home.
We recruit volunteer labor for the kick-off construction of the home on the Saturday preceding the Annual Convention. All skill levels are welcome at the volunteer build, and convention attendees (including families) are invited to join the fun.
If my bank has a foundation, can it contribute to the ABA Housing Partners Foundation?
Yes! As a 501 (c)(3), the ABA Housing Partners Foundation gladly accepts all donations, individual, corporate and from other foundations.
The ABA Housing Partners Foundation is a 501 (c)(3) organization, and all contributions to the Foundation are tax deductable in their entirety.
Questions? Contact Maria Caron.
