INHP awarded $5.3 million by Lilly Endowment Inc.
Funds will support Indianapolis-based nonprofit’s operating costs to continue comprehensive strategies that promote housing choice and affordability
INDIANAPOLIS (Feb. 18, 2020) – Lilly Endowment Inc. has made a $5.3 million grant to the Indianapolis Neighborhood Housing Partnership® (INHP). The resources will support INHP’s 2020 operations to execute the nonprofit’s two-part mission: Increase affordable and sustainable housing opportunities for low- and moderate-income individuals and families and serve as a catalyst for neighborhood development and revitalization.
“Each day, the INHP team faces new opportunities and challenges as we navigate the current landscape of an affordable housing supply shortage and continued high demand,” said INHP president and CEO Moira Carlstedt. “Lilly Endowment’s generosity is critical in helping us advance our mission so we can innovate, empower consumer choice and improve access to safe, decent and affordable housing.”
Through its mission, INHP positively impacts the supply of and demand for affordable housing in Marion County. The organization’s comprehensive strategies include homebuyer education, one-on-one homeownership advising and single-family lending; home repair loans; commercial lending; direct investment and strategic partnering in affordable housing preservation and development; and grant-making to community-based nonprofit organizations focused on housing.
In 2019, INHP enabled more than 200 clients to qualify for a mortgage, leveraged more than $49 million in mortgage financing through INHP and our lender partners, and directly invested, financed or provided grants for the preservation or development of 578 affordable housing units throughout Indianapolis.
The Indianapolis Neighborhood Housing Partnership (INHP) increases affordable and sustainable housing opportunities for individuals and families in Marion County, and serves as a catalyst for the development and revitalization of neighborhoods. INHP enables families to become and remain long-term, successful homeowners through homebuyer education, mortgage and credit advising and lending services. INHP also provides thought leadership, technical assistance, financial support and programming to community partners dedicated to neighborhood development and revitalization. For more information, visit INHP.org.
About Lilly Endowment Inc.
Lilly Endowment Inc. is a private philanthropic foundation created in 1937 by J.K. Lilly Sr. and sons Eli and J.K. Jr. through gifts of stock in their pharmaceutical business, Eli Lilly and Company. While those gifts remain the financial bedrock of the Endowment, the Endowment is a separate entity from the company, with a distinct governing board, staff and location. In keeping with the founders’ wishes, the Endowment supports the causes of community development, education and religion and maintains a special commitment to its hometown, Indianapolis, and home state, Indiana.