Arizona Community Foundation
Phoenix, Arizona 85016
United States
Mission
Lead, serve and collaborate to mobilize enduring philanthropy for a better Arizona
Most Meaningful Change
In 2007, after years of rising real estate prices, the foundation recognized that housing options, both owned and leased, had become far too few for those with lower and moderate incomes, including teachers, firefighters and police officers. In partnership with the Phoenix office of the Local Initiatives Support Corporation, we created the Affordable Housing Fund. Unlike traditional charitable funds, this fund provides zero-interest loans to nonprofit housing developers for the pre-development phase of affordable housing projects, for which financing is not typically available. Once the project receives long-term financing, loans are repaid to the fund-making those dollars available for new projects. Since its inception, donors-individual, bank and corporate-have contributed $1.2 million to the fund. Loans made since 2008 total $2.1 million for 30 separate housing projects. The loans have leveraged an estimated $169 million in lender financing, and have created 2,195 local jobs for construction and other workers. The housing fund served as a model for the development of our new Community Impact Loan Fund, which provides nonprofit loans at or below market rates for a variety of projects around the state that align with ACF’s priorities: education, health, environment, arts and community improvement.
Identifying Information | |||||||||||||||||||||||||||||||||||||||
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Organization | Arizona Community Foundation | ||||||||||||||||||||||||||||||||||||||
Address 1 | 2201 East Camelback Road, Suite 405B | ||||||||||||||||||||||||||||||||||||||
Address 2 | Did not answer | ||||||||||||||||||||||||||||||||||||||
City / Town | Phoenix | ||||||||||||||||||||||||||||||||||||||
State / Region | Arizona | ||||||||||||||||||||||||||||||||||||||
ZIP / Postal Code | 85016 | ||||||||||||||||||||||||||||||||||||||
Country | United States | ||||||||||||||||||||||||||||||||||||||
Continent | North America | ||||||||||||||||||||||||||||||||||||||
Map Address (If Different) | Did not answer | ||||||||||||||||||||||||||||||||||||||
Map City / Town (If Different) | Did not answer | ||||||||||||||||||||||||||||||||||||||
Map State / Region (If Different) | Did not answer | ||||||||||||||||||||||||||||||||||||||
Map Zip / Postal Code (If Different) | Did not answer | ||||||||||||||||||||||||||||||||||||||
Map Country (If Different) | Did not answer | ||||||||||||||||||||||||||||||||||||||
Phone | 602-682-2023 | ||||||||||||||||||||||||||||||||||||||
mbrownell@azfoundation.org | |||||||||||||||||||||||||||||||||||||||
Website | www.azfoundation.org | ||||||||||||||||||||||||||||||||||||||
Organization Leader (Name, Title) | Steve Seleznow, President & CEO | ||||||||||||||||||||||||||||||||||||||
Primary Contact’s Name | Megan Brownell | ||||||||||||||||||||||||||||||||||||||
Primary Contact’s Position | Chief Business Development & Brand Officer | ||||||||||||||||||||||||||||||||||||||
Foundation at a Glance | |||||||||||||||||||||||||||||||||||||||
Year Founded | 1978 | ||||||||||||||||||||||||||||||||||||||
Mission Statement | Lead, serve and collaborate to mobilize enduring philanthropy for a better Arizona | ||||||||||||||||||||||||||||||||||||||
Organization Description | Community Foundation | ||||||||||||||||||||||||||||||||||||||
Other Description | Did not answer | ||||||||||||||||||||||||||||||||||||||
Approximate Size of the Population Serviced | 5,800,000 | ||||||||||||||||||||||||||||||||||||||
Total Paid Staff (Full-Time Equivalents) | 44 | ||||||||||||||||||||||||||||||||||||||
Total Unpaid Staff (Full-Time Equivalents) | Did not answer | ||||||||||||||||||||||||||||||||||||||
Total Board Members | 32 | ||||||||||||||||||||||||||||||||||||||
Financial Information (in U.S. Dollars) | |||||||||||||||||||||||||||||||||||||||
Organization’s Total Income in Last Fiscal Year | $101,009,000 | ||||||||||||||||||||||||||||||||||||||
Organization’s Gifts Income in Last Fiscal Year | $60,339,973 | ||||||||||||||||||||||||||||||||||||||
Organization’s Total Expenditures in Last Fiscal Year | $55,409,000 | ||||||||||||||||||||||||||||||||||||||
Organization’s Grantmaking Budget in Last Fiscal Year | $41,000,000 | ||||||||||||||||||||||||||||||||||||||
Does Organization Have an Endowment | Yes | ||||||||||||||||||||||||||||||||||||||
Value of Endowment (or Financial Reserves) as of the End of Last Fiscal Year | $273,000,000 | ||||||||||||||||||||||||||||||||||||||
Change in Financial Status Over Last Three Years | Significant improvement | ||||||||||||||||||||||||||||||||||||||
Priorities and Achievements | |||||||||||||||||||||||||||||||||||||||
Factors that Played a Role in the Origins of Your Organization | |||||||||||||||||||||||||||||||||||||||
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Time Spent Working in Following Areas | |||||||||||||||||||||||||||||||||||||||
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Rate Importance of the Following Functions | |||||||||||||||||||||||||||||||||||||||
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In the Last Year, Extent to Which Programming and/or Grantmaking Involved Work in the Following Areas | |||||||||||||||||||||||||||||||||||||||
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Nongrantmaking Services Offered to Community in Recent Years | |||||||||||||||||||||||||||||||||||||||
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Main Trends Over the Past Year in Geographic Area Served | |||||||||||||||||||||||||||||||||||||||
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Extent to Which Organization Can Claim Tangible and Measurable Achievements in the Past Three Years | |||||||||||||||||||||||||||||||||||||||
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Active Partnerships | |||||||||||||||||||||||||||||||||||||||
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Partnerships and External Aid | |||||||||||||||||||||||||||||||||||||||
Other Institutions Helpful to Our Work | |||||||||||||||||||||||||||||||||||||||
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Involvement of Local People | |||||||||||||||||||||||||||||||||||||||
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Assistance in Overcoming Main Difficulties Faced in Developing Organization Further | |||||||||||||||||||||||||||||||||||||||
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Other | Better awareness of the work and importance of community foundations | ||||||||||||||||||||||||||||||||||||||
Most Meaningful Change | |||||||||||||||||||||||||||||||||||||||
Most Meaningful Change that Organization Has Helped to Bring About in the Last Three Years | In 2007, after years of rising real estate prices, the foundation recognized that housing options, both owned and leased, had become far too few for those with lower and moderate incomes, including teachers, firefighters and police officers. In partnership with the Phoenix office of the Local Initiatives Support Corporation, we created the Affordable Housing Fund. Unlike traditional charitable funds, this fund provides zero-interest loans to nonprofit housing developers for the pre-development phase of affordable housing projects, for which financing is not typically available. Once the project receives long-term financing, loans are repaid to the fund-making those dollars available for new projects. Since its inception, donors-individual, bank and corporate-have contributed $1.2 million to the fund. Loans made since 2008 total $2.1 million for 30 separate housing projects. The loans have leveraged an estimated $169 million in lender financing, and have created 2,195 local jobs for construction and other workers. The housing fund served as a model for the development of our new Community Impact Loan Fund, which provides nonprofit loans at or below market rates for a variety of projects around the state that align with ACF’s priorities: education, health, environment, arts and community improvement. |