1. Message from the Board Chair

Ofonedu-Ime Goodwyn, NHSSF Board Chair

Ofonedu-Ime Goodwyn

NHSSF Board Chair

This past year NHSSF, like many organizations in South Florida, weathered a difficult period. However, we also achieved several important victories and expanded our network of dedicated partners, while continuing to provide the responsive, high quality services to the hundreds of families who depend on us to achieve their dreams. I am excited by our numerous accomplishments in FY2021, which lay the foundation for a successful FY2022 - giving us all something to look forward to.

2. Message from the CEO

Kimberly T. Henderson, President & CEO

Kimberly T. Henderson

President & CEO

The economic and social crisis generated by the pandemic has taken much longer to end than anticipated (and hoped for) thus prolonging the pressure on our communities and further testing our resilience and endurance. In this difficult time, we have learned that crisis opens the door to new opportunities inviting us to flex our organizational muscle, assist our clients in traditional and new ways thereby hastening our collective ability to see the light at the end of the tunnel.

At the beginning of the pandemic, one of the main tasks we faced was to adapt to remote work -successfully transfer all our services to a virtual format, and support the families hardest hit by rampant unemployment and inability to cover rent or mortgage payments. In 2021, our main challenge has been to lay the foundation for a reconstruction of a more equitable, fair and sustainable economy.

3. 2021 in a Snapshot

2021 was the continuation of a health and economic crisis that has put enormous pressure on our communities. We continued to provide financial rental & mortgage assistance programs in place for residents affected by the pandemic. At the same time, we pursued new endeavors that could set the foundation for building back a better, more inclusive, equitable, and resilient future for South Florida residents. And we stayed firm on our mission to provide our clients with one-stop-shop services towards their path to homeownership.

The following is a snapshot of our 2021:

New Homeowners Created
New Clients Counseled
Refinanced Loans Closed
Broward Residents Financially Assisted
that were in danger of losing their homes due to unpaid rent or mortgage due to the ongoing Covid-19 pandemic.
NHSSF hosted its first Virtual Homeowner & Homebuyer Expo
Miami-Dade County Residents attended the virtual fair on October 30, 2021
vendors across the housing industry participated
webinar sessions offered
views of the educational sessions
documents were clicked

Residential Housing Units for Seniors
Development of Freedom Pointe - to be NHSSF's next development project in collaboration with Volunteers of America National Services.

* Anticipated completion of the project is 2024 and is part of our goal to provide affordable rental housing while building a permanent office headquarters in Little Havana.

10 AmeriCorps members joined the NHSSF team
to offer financial capacity training and coaching services to low income communities.

* This collaboration is part of the award we were honored to receive from a joint initiative between the U.S. Treasury CDFI Fund and AmeriCorps called Economic Mobility Corps.

Neighborworks Chartered Member
HUD certified Housing Counseling Agency logo
Certified for HUD secondary financing
Certified Housing Development Organization logo
CDFI logo

4. Center for Homeownership Education & Financial Wellbeing

NHSSF has supported residents on their path to prosperity in our Center for Homeownership and Financial Wellbeing for over 40 years. As a NeighborWorks America® homeownership center and HUD-approved housing counseling agency, NHSSF offers prospective first-time homebuyers a variety of educational classes and workshops to prepare them to successfully secure financing to purchase a home. We believe homeownership assists families in building wealth, facilitates intergenerational financial stability and leads to economic inclusion.

We believe homeownership assists families in building wealth, facilitates intergenerational financial stability and leads to economic inclusion.

We design our programs with sensitivity to issues unique to South Florida, such as the impact of climate change and the need to assist families before and after natural disasters.

We have strong relationships with local and national financial lenders, real estate services providers, community leaders and government officials. Over 80% of our clients are low- to moderate-income individuals. By serving this market segment we have been able to provide wealth building opportunities for families and stabilize and revitalize communities thru homebuyer education, foreclosure prevention, loss mitigation, and housing production.

Over 80% of our clients are low- to moderate-income individuals. By serving this market segment we have been able to provide wealth building opportunities for families and stabilize and revitalize communities thru homebuyer education, foreclosure prevention, loss mitigation, and housing production.

Our proven educational system combined with one-on-one counseling makes the dream of homeownership a reality. We individualize services for each client depending on need, and offer services in English, Spanish, and Haitian creole. Services provided by our Center for Homeownership and Financial Wellbeing include:

  • Homebuyer Orientation Seminars
  • Homebuyer Certificate Workshops
  • Financial Fitness Training
  • One-on-one Counseling
  • Post-purchase Seminars
  • Foreclosure Prevention Clinics

We work closely with clients to help them understand the homebuying process and become confident consumers with the skills necessary to navigate a difficult and competitive housing market.

We work closely with clients to help them understand the homebuying process and become confident consumers with the skills necessary to navigate a difficult and competitive housing market.

The results show reductions in debt and improvements in savings, credit scores, and earnings so that families are on a path to prosperity.

Attendees & staff at the Homebuyer Education Workshop for Creole speakers we provided with support from the City of North Miami Beach in June, 2021

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Photo Credits: Miami-Dade County/Godfrey Mead

Production Metrics FY21
FYTD July 1, 2020 - June 30, 2021

Homeownership Production Metrics for FY2021

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5. Lending Department

The last two years have been hard on the housing market for LMI residents. The pandemic has set in the open a longstanding problem across South Florida: When 60% of the working population in the urban area of Miami is housing cost-burdened, when the affordable housing stock available has fallen rapidly below 50% -under crescent pressure from foreign residents looking to work remotely and moving to South Florida in the past 2 years-, and when the climate change and sea-level rise increases the pressure over many of Miami’s historic neighborhoods, the scarcity of affordable houses now is simply dramatic.

Nonetheless, our NHSSF Lending Department continued service prospect homebuyers with affordable and responsible loan products, as well as current homeowners with great refinance opportunities.

Production Metrics FY21
FYTD July 1, 2020 - June 30, 2021

NHSSF Lending Production Metrics FY2021

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Lending by Loan Type
July 1, 2020 - June 30, 2021

NHHSF Lending by Loan Type FY2021

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Victoria and Reynaldo closing their refinance loan with NHSSF at Flamingo Title Company in September 2021.

Alcides Vargas of NHSSF with a couple whom he helped refinance their loan

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6. Real Estate Development

Even when all of the other pieces fall into place, South Florida families must still be able to find housing at the right price point. Because current local housing prices are so out of sync with local incomes, that housing is hard to find. On the other hand, for the past 40 years, we have served Miami-Dade and Broward families from our offices located in one of the culturally eminent neighborhoods in Miami: Little Havana. These headquarters have grown old and we found ourselves in a position to imagine a project that could address both the current lack of affordable housing and our need to renovate our primary service location.

In 2019 we launched an RFP looking after proposals from qualified developers with the technical experience and capacity to build a mixed-income workforce/affordable housing development on land currently owned by us. In August 2021, we finally announced that Volunteers of America National Services was selected to partner with us on a senior affordable residential housing project to be known as Freedom Pointe.

The project is slated to be completed in 2024 and will consist of 75 units for seniors, the property will be green-oriented and will include supportive services to residents as well as a ‘health hub’ in the building. VOANS intends to implement its Aging with Options program so that residents can safely remain in place as long as possible. Additionally, the fourth floor will include outdoor amenities such as a walking path, garden and patio area.

The proposed project will include the demolition of the existing building at 300 NW 12th Ave., Miami, FL 33128, and new construction of mixed-use affordable housing for seniors, as well as office development, as we plan to maintain our headquarters in the newly developed building.

photo of the NHSSF building at 300 NW 12 Avenue

7. Community Building & Transformation

In 2021 we experienced first-hand the power of coming together and building better communities. Whereas we invited fellow agencies and partners to discuss and learn about Shared Equity Housing Models to innovatively face the lack of affordable housing across South Florida, or we led a team of Overtown residents to participate in the Community Leadership Institute training provided by NeighborWorks America after a 2020 pandemic hiatus.

In those, and other community building actions NHSSF was involved throughout this year, we were reminded of the power that comes from strengthening relationships with our nonprofit partner, government allies and local residents towards a shared goal of improving the financial and social wellbeing of all of us.

Shared Equity Housing

From May 18 to June 8, 2021, NeighborWorks America provided the online webinar “Shared Equity Housing: Creative Models to Preserve Affordable Homeownership.”

Representatives from over 12 partner organizations and local government entities across South Florida participated in this training at NHSSF invitation (HOMES, Catalyst Miami, Urban League of Broward County, Haitian American CDC, Broward County Minority Builders Coalition, City of North Miami Beach, City of Homestead, City of Miami Gardens, South Florida Community Land Trust, among others).

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CLI 2021

As part of NHSSF Community Transformation efforts, NHSSF pursue to engage residents from underserved communities to play an active role in shaping their neighborhoods. Education is the first step towards that goal. Following NeighborWorks America invitation we recruited a team of residents, mainly from Overtown -a historic African American neighborhood-, to participate in the Community Leadership Institute.

From January to April, 2021 the CLI virtual training “Resilient Residents: Empowering Communities, Leading Change” provided these residents with the knowledge and information, enabling them to take the lead in the changes they want to see.

From this experience came out an action plan titled Historic Overtown (monthly) Art Walk - a project aimed to inspire, highlight and celebrate the powerful legacy of the Overtown community.

Historic Overtown Art Walk Flyer

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Follow @the_artist_of_inspiration on Instagram

Economic Mobility Corps

In August 2021 it was officially announced that NHSSF was one of the awardees of the inaugural round of the AmeriCorps CDFI Economic Mobility Corps (EMC) program.

Certified CDFIs receiving EMC awards and the number of service members supported annually by each organization’s award, include:

  • LiftFund, Inc. (San Antonio, TX): $113,452/7 service members
  • Local Initiatives Support Corporation (New York, NY): $992,800/61 service members
  • Neighborhood Housing Services of South Florida, Inc. (Miami, FL): $171,956/10 service members

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Rapid Response Program

NHSSF is a certified CDFI and an accredited community development nonprofit serving South Florida residents for over 40 years. In this capacity, NHSSF CDFI loan fund has implemented progressive community development strategies resulting in revitalized communities and financially empowered families. As a CDFI we have been able to build a nonextractive and trust-based relationship with the communities we serve.

In June 2021 U.S. Treasury announced $1.25 billion to support economic relief in communities affected by Covid-19. NHSSF CDFI received a $490K Rapid Response Program allocation to respond to the economic challenges created by this pandemic, particularly in underserved African-American communities across South Florida.

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Watch the official announcement made by VP Kamalah Harris alongside Treasury Secretary Janet Yellen, U.S. Senator Mark Warner, and U.S. Representative Maxine Waters.

8. Background, Mission & Community Endeavor

NHSSF was founded by committed local community members in 1978 as a response to disinvestment and redlining practices that were impacting a small neighborhood in north central Miami. Since then, we have evolved into a comprehensive community development organization, a certified community development finance institution (CDFI), and HUD certified Housing Counseling Agency, providing homeownership support, financial literacy, lending services, housing development and neighborhood stabilization to thousands of families in Miami-Dade and Broward Counties.

For more than 40 years, Neighborhood Housing Services of South Florida has filled a crucial gap in the housing market by working with families who need access to financial education and capital. We work in close partnership with private lenders and government agencies, providing specialized expertise in housing strategies and programs, the many different housing markets throughout South Florida, and different types of home loans that work best for low-wealth families.

Building on this expertise, we have a vision for working across sectors to achieve a better, more resilient version of our community, one in which a safe place to call home is available to all residents and our neighborhoods maintain the vibrant racial and cultural diversity that makes our region unlike anywhere else in the world. We are working to advance prosperity for all South Floridians through Homebuyer Education & Counseling, Lending, Real Estate Development, and Community Transformation.

Shared testimonials from our clients

an African American woman smiles as she looks to the right

The freedom that comes with owning a home

In the same way as buying a home is not a matter of a singular transaction but a process that spans over time, our relationship with clients doesn't always end when they sigd the contract of their new home: we have been fortunate enough to establish lasting relationships with several clients who have approached us to seek help to achieve their dream -and keep it alive ...
Read More
a girl with a laptop searches online

“A fabulous team that helped [me] every step of the way”

Natalie found the NHSSF Emergency Relief Program for Housing Stabilization online. She was searching for rental assistance for Broward residents since she saw a cut in her funds due to Covid-19 and was unable to pay her rent for a few months ...
Read More
a happy couple stands outside their new home

Hands-on your dream!

"Eddie and Marie Jean were referred to me by my colleague Gigi, housing counselor at NHSSF, back in March, when the pandemic was beginning. From that moment on, I practiced a hands-on approach, guiding them through the process of buying a house, their first house, which today they could finally enjoy. I am so happy for them." ...
Read More

9. Audited Financial & Impact

Financial Summary

Every year, NHSSF undergoes a third-party financial audit by a public accounting firm. The external, independent auditor provides a full review of the corporation's financial statements in accordance with formal industry standards. It is in the best interest of the communities we serve as well as our fiscal responsibility to the many stakeholders we partner with, to make public the results of NHSSF 2020 audit. Below you can find a summary of the inspection.

To request the complete audit report, please send an email to kimh@nhssf.org.

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