Housing Assistance Sets $2 Million Goal For Housing Legacy Fund

Filed Under: Non Profit News

When Housing Assistance Corporation turns 50 in 2024, it plans on celebrating by having raised $2 million for its Housing Legacy Fund.

Launched in 2018, the fund allows for Housing Assistance to respond to the long-term housing needs of the region. It also gives the agency the flexibility to respond quickly and efficiently to emergencies that may arise, such as a pandemic, a natural disaster or a government shutdown, which further strain the region’s ability to provide safe, stable housing for individuals and families at all income levels.

“We just lived through what could have been the biggest housing crisis of our lifetime. In one fell swoop, industries were shut down and many of our neighbors were rendered helpless with no income to pay their rent, even as we were all asked to shelter in place because of COVID-19. We quickly saw the link between housing, our healthcare system, and the economy,” said Housing Assistance CEO Alisa Magnotta. “At Housing Assistance, this solidified the importance of having a cash reserve in place. Had our donors and the government not stepped up to rescue renters, our streets would have been full with homeless individuals and families. As an agency, we are committed to ensuring we have the reserves in place to handle the next crisis.”

Since its inception, $1 million has been raised for the fund, which is managed by The Cape Cod Foundation.

When Housing Assistance celebrated its 45th anniversary in 2019, it received $90,000 in donations from Cape Cod 5, the Donald C. McGraw Foundation, the Green family, Michael Princi of Princi Mills Law PC, and Peter Princi of The Princi Group Wealth Management at Morgan Stanley. That funding helped to kickstart Housing Assistance’s original goal to raise $1 million for the fund by the time it turned 50.

Magnotta credited businesses, foundations, and individual donors throughout the region for stepping up and helping the agency meet its initial fundraising goal ahead of schedule. Among those to commit to the Housing Legacy Fund are Cathy and Jack Brennan of Mashpee, two longtime supporters of Housing Assistance.

“The housing situation on Cape Cod is unsustainable for our workforce, families living paycheck to paycheck, and our most vulnerable neighbors,” said Jack Brennan. “While Cathy and I have long supported the critical work Housing Assistance is doing to address the need for safe, stable housing in our region, we wanted to ensure that future generations will be able to enjoy the beauty of this place we call home. We hope more businesses and individuals will step up and consider supporting the Housing Legacy Fund to ensure that the unique quality and character of Cape Cod doesn’t erode due to a dwindling lack of affordable and attainable housing options.”

 Donors can support the Housing Legacy Fund through a tax-deductible contribution today or a planned gift, such as including Housing Assistance in their will.  To learn more about the fund, which may be eligible for state tax credits, contact Chief Development Officer Anne Van Vleck at avanvleck@haconcapecod.org or 508-771-5400, ext. 228.