Noah Receives Grant from People’s United Community Foundation

In recognition of National Philanthropy Day. the philanthropic arm of People’s United Bank (PUB) provided East Boston’s Neighborhood of Affordable Housing (NOAH) with a grant to help NOAH’s home buying and foreclosure prevention programs.

NOAH will share in $197,500 in grant money provided by the bank’s People’s United Community Foundation (PUCF) to 42 non-profit organizations across Massachusetts that are having a positive impact on the communities PUB serves.

“National Philanthropy Day provides a special opportunity to recognize the role of philanthropic efforts and to honor the many individuals and organizations that are making a difference in our local communities,” said Executive Director of PUCF Karen Galbo. “We thank all of our community partners—businesses, nonprofits, and volunteers—for their ongoing commitment and contributions.”

NOAH has continuously run a successful first-time homebuyer program for years. These homebuyer education classes provide a comprehensive overview of the necessary steps towards purchasing a home. NOAH’s staff and a wide variety of guest speakers educate clients on how to locate, finance, and buy property. Graduates of these classes receive certificates from the City of Boston, which allows them to apply for better loans, helps them with down payment assistance, and gives them overall greater credibility when buying their first home.

Since the 2008 housing market crash that crippled the U.S. economy, NOAH added a foreclosure prevention counseling program for residents.

The goal of this program has been to help those homeowners facing foreclosure understand their options and determine the best and most affordable solution for their own situation. NOAH’s counselors work with clients one-on-one to develop an action plan based on individual needs, create budgets, contact lenders and negotiate mortgage terms.

“We are really grateful for the investment that PUB has made in our work,” said NOAH Executive Director Phil Giffee. “We have had a solid relationship with PUB over the years. Our homebuyer service team does great work with both home buying and foreclosure prevention counseling. NOAH was able to create 100 new homebuyers this year alone and counseled over 300 people to be homebuyers. The PUCF has taken our work very seriously and NOAH is happy to receive this terrific and meaningful grant on National Philanthropic Day.”

In total, during this final 2019 grant cycle, $1,002,500 was awarded to 183 organizations throughout the communities it serves in Massachusetts, Connecticut, New York, Vermont, New Hampshire and Maine.

The grants were disseminated in alignment with the Foundations’ three areas of focus, including 40 percent to community and economic development, 38 percent to youth development and 22 percent to affordable housing initiatives.

Funding was allocated for programs and services that range from efforts to end homelessness, services for victims and families of domestic violence, creating and increasing opportunities for students to pursue higher education and gain access to job training, in addition to increasing food security and supporting small business initiatives.

Leave a Reply

Your email address will not be published.