2014-2015 Annual Report

2014 Annual Report

COMMUNITY CHANGE:

You Gotta Be All In!

Last year, we paid tribute to the thousands of people who have labored to transform divided, at-risk neighborhoods into united communities of choice across Roxbury and Jamaica Plain. In the four decades since our founding, Urban Edge followed the path laid out by creative community leaders and reached milestone after milestone thanks to the right combination of vision, collaboration and determination. They were all-in, dedicated to the hard work of building connections and community.

Prominent among those creative leaders is Chrystal Kornegay, Urban Edges third chief executive. Anyone who knows Chrystal knows she was all-in! Chrystal led us out of our financial wilderness. She called us to set outcomes first and then identify the programs and resources to achieve them. And then she did, in fact, achieve them. Chrystal constantly affirmed our community roots and the strength in our community and neighbors. She demonstrated that we achieve more in partnership than going it alone. As she moves on to drive impact and forge partnerships with communities across the Commonwealth, we recognize that weve been blessed by Chrystals leadership and thank her for enriching our community.

As we navigate this transition, we are guided by one of Chrystals legacy achievements and gifts. Chrystal launched us on our new 5-Year Strategic Plan, which we announced in last years 40th Anniversary Report. At the mid-point of the Plans first year, we are hitting milestones, launching initiatives and using the foundation of our Strategic Plan to guide our search for a dynamic new leader.

The Strategic Plan envisions greater opportunity and vibrancy in the Egleston-Jackson corridor. Building on the communitys great work to date, the newly completed Jackson Commons is another step forward, with 37 apartments for rent to working families across a mix of incomes. Jackson Commons also houses a community learning center, a small retail space and Urban Edges new offices. Next up is Walker Park Apartments, 49 apartments just east of Egleston Square, appropriately named after another creative community leader, the late Delphine Walker. These projects build toward our vision of a healthy mix of households at many income levels, together with growing local business districts, walk-to parks and recreation facilities, all with easy transit access to metro Bostons jobs and attractions.

In addition to rental housing, Urban Edge has long had a focus on financial resilience and homeownership. We sustain one of the leading foreclosure prevention counseling initiatives in Greater Boston. Recognizing that student loan debt contributes to home foreclosures and impedes home purchases, Urban Edge launched a new focus on student debt, counseling almost 500 hard-pressed student loan borrowers to restructure and more readily manage their debt. Urban Edge provided wrap-around economic resiliency programs personalized financial counseling, public benefits enrollment, free tax preparation and distribution of donated resources to over 3,000 people in our community. Urban Edge also continues to innovate and grow. In 2014, we expanded our homebuyer education programs and launched CUE Realty to match qualified buyers with quality homes and to help ensure that local real estate markets meet the housing demands of families at all income levels. Were exploring how best to contribute to the health and wellness of the community and to expanding educational opportunities, consistent with the priorities of our Strategic Plan. We are all-in, together with our many partners and funders, to keep driving community change and opportunity. On behalf of the Board and staff, thank you for your support as we launch our next chapter and for another very good year.

THE MISSION OF URBAN EDGE is to develop and sustain stable, healthy and diverse communities in Jamaica Plain, Roxbury, and surrounding neighborhoods. Urban Edge achieves this mission through the production and preservation of affordable housing for ownership and rental, homeowner services and financial education, asset management, commercial and economic development, and community building and organizing initiatives.

Urban Edge1542 Columbus AvenueRoxbury, MA 02119617-989-9300www.urbanedge.orgFacebook: /UrbanEdgeBostonInstagram: @UrbanEdgeBostonTwitter : @UrbanEdgeBoston #ALLIN

BOARDMESSAGE

Tom DavisChair Urban Edge Board of Directors

Karen RoystonVice Chair Urban Edge Board of Directors

Natacha DunkerVice Chair Urban Edge Board of Directors

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Urban Edges Community Engagement Department helps modest-income families make the most of the opportunities provided by Urban Edges safe, stable and affordable housing developments. Residents work with staff to secure public benefits, increase family incomes and manage household budgets. Affordable rents combined with improved finances are solid footing on which to build civic engagement and leadership on any level, from the tenant council to the neighborhood association to the councils of government. These grass-roots leaders learn how to influence decision-making and access resources for further neighborhood improvement, building on generations of investment in local infrastructure, housing, commercial space and human capital. Strong communities grow from the inside out.

Resident Leadership Matrix

The resident attends or participates at a

community meeting.

The resident takes on a small responsibility.

The resident volunteersto take on part

of a project.

The resident spearheadshis/her own project.

In 20141,550 families received donated resources including back-to-school supplies, winter coats,

Thanksgiving turkeys and holiday gifts for children

20 young people were placed into meaningful jobs through the Summer Youth Leadership Academy

8 families completed a five-week pre-K readiness program, which helps develop childrens early literacy skills and enhances parents nurturing skills based on understanding of child development

203 individuals received personalized, one-on-one financial counseling to reduce debt, improve credit, and manage a household budget

530 residents received free tax preparation through the Volunteer Income Tax Assistance Program (VITA), resulting in $955,766 in refunds for residents and their families

617 individuals were screened for public benefits, including SNAP (food stamps), WIC, home heating assistance, SSI and SSDI, and MassHealth, through AccessBenefits Online (ABO). Households were connected with $357,472

in government benefits, resulting in a 23% increase of the average household net income.

291 families avoided evictions through the Tenancy Preservation Program

138 of ABO participants were enrolled in public benefits

516 resident leaders are in the leadership matrix, and 38% have increased a tier level (diagram above)

COMMUNITY ENGAGEMENT:Stronger Families, Active Local Leaders, Resilient Neighborhoods

Resident Leadership:In order to inspire community change, residents need to feel that they influence and are influenced by their neighborhood. Community Engagement developed a resident leadership matrix that helps match residents with meaningful opportunities for participation and helps them gain the necessary skills to reach for higher levels of engagement as part of their own individual growth trajectory. This leadership matrix has four tier levels that track resident engagement:

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Urban Edges Real Estate Department implements the organizations comprehensive approach to building and preserving high-quality, green, affordable housing for low- and moderate-income families.

Improving the quality, safety and resource efficiency of its older housing developments many built at the beginning of the last century has made Urban Edge adept at occupied rehabs, completing renovations without displacing tenants. The current project of this kind is Walnut Washington Apartments, a 65-unit scattered-site development in Roxbury and Jamaica Plain. Community Engagement provides the liaisons between tenants and contractors that make occupied rehabs possible. Construction is now over 80% completed. Bonds issued by MassDevelopment support upgrades to energy and life safety systems. Boston Private Bank & Trust is providing construction and permanent financing.

As of this writing, construction of Urban Edges first Jackson Square project is nearly complete and ready for occupancy. Jackson Commons is a 37-unit mixed-income rental development with offices, retail and community space on the ground floor. Nearly 1,500 households applied for apartments when leasing began in January. Like The Community Builders 225 Centre Street on the other side of Columbus Avenue, Jackson Commons is a final product of the 20-year community planning process, initiated by Urban Edge, that guides the full build-out of Jackson Square, project by project.

On the immediate horizon is Walker Park Apartments, 49 affordable apartments in Egleston Square. Walker Park is being named in honor of Delphine Walker, who lived on the land on which this housing will be built. Urban Edge has undergone a nine-month community process and received letters of support from a multitude of community-based organizations such as Garrison Trotter Neighborhood Association. Urban Edge is using Lean Design and Construction methods to reduce costs while maintaining quality. As part of this process, Commodore Builders has been selected as the general contractor in a competitive bid process before design of the project began. Urban Edge is submitting an application for funding to the Massachusetts Department of Housing and Community Development (DHCH) in Spring 2015. Thus far, project funders include Enterprise Community Partners and Massachusetts Housing Partnership.

REAL ESTATE DEVELOPMENT: Increasing Housing Supply and Improving Housing Quality

Jackson Commons today, Spring 2015

Schematic Rendering of Walker Park Apartments

Current rehabilitation on Walnut Washington Apartments 3

COMMUNITY PROGRAMS:Promoting and Preserving Affordable Homeownership for Working Families

Homeownership was Urban Edges original focus back in 1974, when the housing market was riven by arson, redlining, displacement and abandonment. The challenges faced by modest-income buyers and owners 40 years later, and especially following the real estate crisis, are less grim, but much more complex. Community Programs current initiatives are designed to help residents acquire homes, avoid foreclosure, and strengthen their finances.

Addressing the lingering hangover of home foreclosures remains a priority, and the counseling staff continues to achieve the highest rate of positive outcomes for clients. The ranks of homebuyer education graduates and new buyers increase, while the risks of future foreclosures vanish thanks to the knowledge and skills imparted by staff and guest experts. Getting debt relief for student loan borrowers reduces the drag on home buying by young people eager to leave renting behind and build assets. With the startup of CUE Realty (see below), Urban Edge is surely returning to its 70s roots as the alternative broker for buyers and sellers who say No Sale to frenzy and pressure.

In 2014500 people were educated in interactive first-time home-

buying workshops

Of those class participants, 150 became homeowners

40 first-time homebuyers received individual post-purchase counseling

137 homeowners received foreclosure prevention counseling

121 families were able to keep their homes through foreclosure prevention, and others are awaiting loan modifications

228 borrowers received student loan repayment counseling and were able to consolidate their loans, refinance, explore repayment options, and

remove defaults

2 local businesses received small, low interest loans to help fund equipment purchases, inventory purchases, working capital, storefront

improvements, etc.

The purchase or sale of a home can be an exciting time. We are not looking for a place for families to just live but for a home where they can build and begin their lives. The purchase of a home is one of the biggest purchases a buyer will make in their lifetime and it is an honor to be part of that process.

Linda Champion

CUE RealtyCUE Realty brings a unique value to hardworking families on the pathway to homeownership by providing custom-tailored real estate brokerage services. CUE Realty also brings an opportunity to sellers to have direct access to preapproved buyers in order to sell their homes. Over the past ten years, Managing Broker Linda Champion has owned and operated a boutique real estate brokerage company primarily focused on educating hundreds of first-time home buyers and helped assist over 70 modest-income families.

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FINANCE:Summary of 2014 and 2013 Financial Statements

STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETSFOR THE YEARS ENDED DECEMBER 31, 2014 and 2013

UNAUDITED 2014 AUDITED 2013

Summary of 2014 and 2013 Financial Statements URBAN EDGE HOUSING CORPORATION and URBAN EDGE COMMUNITY DEVELOPMENT FUND CORPORATION

HOUSING CORP HOUSING CORP

Total operating revenues (including net assets released from purpose restrictions) 4,833,379 4,523,826

Total operating expenses before depreciation 3,779,897 3,364,033 1,053,482 1,159,793

Less: Depreciation 117,224 111,299 Change in net assets from operations 936,258 1,048,494 Total other income (expenses, reserves) 173,779 -

Changes in unrestricted net assets 1,110,037 1,048,494 Changes in temporarily and permanently restricted net assets (149,077) 599,779

Change in net assets 960,960 1,648,273 Net asset transfers 415,315 270,961 Net assets at prior year-end 4,301,465 2,382,231 Ending net assets 5,677,740 4,301,465

STATEMENTS OF FINANCIAL POSITION AT DECEMBER 31, 2014 and 2013

HOUSING CORP HOUSING CORP

Total current assets 4,690,375 3,702,758 Total non-current assets 5,103,526 4,686,823 Total assets 9,793,902 8,389,581

Total current liabilities 2,040,309 1,579,457 Total long-term debt 2,075,852 2,508,659 Total liabilities 4,116,162 4,088,116 Net assets:Total unrestricted net assets 3,391,338

1,876,498 Total temporarily restricted net assets 1,157,612 1,093,132 Total permanently restricted net assets 1,128,790 1,331,835 Total net assets 5,677,740 4,301,465 Total liabilities and net assets 9,793,902 8,389,581

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BOARD OF DIRECTORS

Board of Directors

Darlene Atkins

Viki Bok

Jacque Cummings-Furtado

Genie Curry

Susan Curry

Tom Davis

Natacha Dunker

Bruce Ehrlich

Benjamin Forman

Alison Haight

Beryl Harris

Noemi Mercado

Anne McKinnon

Donovan Montrose

Elizabeth Relerford

Karen Royston

Johanna Smith

Diane Stafford

Nate Zielonka

Not pictured: Jeanette Callahan, Eddie Jenkins, Darryl Pelton, Teresa Rodriguez, Andrew Sobers

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STAFF

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Staff

Executive:Susan Davy, Interim CEO

Cheryl Sandler Thompson, Executive Assistant

Asset Management:Alice Wong, Asset Manager

Keven Spillane, Asset Manager

Community Engagement:Katie Provencher, Director

Robert Torres, Associate DirectorAlia Abubakar, Community Engagement ManagerSahar Lawrence, Community Engagement Officer

Nicole Chandler, Community Engagement Officer

Community Programs:Bob Credle, Director

Alexandria Connelly, Student Loan CoordinatorElizabeth Bain, Manager of Homeownership ServicesEva Osorio, Manager of Homeownership Services

Gercide Luc, Foreclosure Prevention Manager

Junie Celestin, Foreclosure Prevention Counselor

Molly Goodman, Foreclosure Prevention Associate

Luis Rivera, Intern

Finance:Lisa Laramee, Director

Digna Del Rosario, Accounting ManagerGail Graziano, Controller

Operations:Sharon Zimmerman, Managing Director

Maria Caceres, Office Manager

Gisel Pena, Office Assistant

Real Estate Development:Jeremy Wilkening, Director

Caroline Edwards, Project Manager

Peter Erhartic, Project Manager

Shaina Korman-Houston, Project Manager

Resource Development:Saty Singh, Resource Development AssociateSophia Abbasi, Communications Coordinator

Michael Rousseau, Grant Writer

Not pictured: Alia Abubakar, Vilma Calderon, Junie Celestin, Gisel Pena, Katie Provencher, Sharon Zimmerman

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Individual Donors 2014Darlene AtkinsWayne E. BeitlerPatricia BeldenJohn BensonDerek & Sisela BokTomas BokViki Bok & Dick JonesRobert & Ann BuxbaumJeanette CallahanDaniela CarusiPaul Casilli & Eileen Hyman-

CasilliPhil & Cassandra ClayMelissa CharlesGenie CurrySusan CurryJacque Cummings-FurtadoTom DavisNatacha DunkerJohn DunlapBruce EhrlichBrika EklundGayle EppJeffrey FerrisMatthew FishmanCarrie FletcherBenjamin FormanBruce & Barbara Freeman SachsBeverly GalloDiane GordonLaurie GouldAlison HaightBeryl HarrisMichael HaynesJanet HunkelEddie JenkinsWillie JonesKaren KelleherJonathan KleinAndy KoinesJudith KolligianHenry Korman & Ann

Houston

David & Christine Letts Tucker LevyMaria MaffeiGina MartinezMaureen McElroyAnne McKinnonNoemi MercadoKevin MickaJanet MinerDonovan MontroseMichael MullanRobert NaultTom OMalley & Beverly

ArsemScott PayetteArmando Perez & Karin

HobreckerDarryl PeltonJeanne PinadoMarjorie PosnerElizabeth RelerfordTeresa RodriguezAdam RogoffAnne Rousseau & Nancy

SableskiKaren RoystonRoberta RubinKelsey RyanMonica L. SalasElecta Sevier & Jonathan

NicholasJohanna SmithAndrew SobersKeven SpillaneTeresa SpillaneMark & Joyce SplaineDiane StaffordJordan StoneJohn TobinSusan & Jim WarramRobert & Judith WeberZoe WeinrobeMorgan WilsonNathan Zielonka

Corporations, Foundations & Public Sector:Abt AssociatesBoston Private Bank and Trust

CompanyCiti FoundationCitizens Housing and Planning

Association (CHAPA)City of Boston Department

of Neighborhood Development (DND)

City of Boston Economic Development and Industrial Corporation (EDIC)

Davis Square ArchitectsFirst Church Boston Ford FoundationGrowth SparkHyams FoundationJaney ConstructionKlein Hornig LLPMass Division of BanksMass. Housing Investment

Corporation (MHIC)Mass Housing Partnership

(MHP)MassVOTENeighborWorks America PrimeLendingSantander BankStarfish MarketUnited Way of Massachusetts

and Merrimack ValleyUniversity of MissouriSt.

LouisU.S. Dept. of Housing and

Urban DevelopmentThe Vincent Mulford

FoundationWB MasonWinnCompanies

Sponsors of 40th Anniversary Celebration and Annual MeetingAAFCPAsA Best AbatementAnderson Insulation, IncAnchor InsulationThe Architectural Team, IncBank of AmericaBargmann Hendrie +

Archetype Inc.Boston Community CapitalBoston FinancialThe Boston FoundationBoston Private Bank & Trust

CompanyBunker Hill Community

CollegeCitizens BankThe Community Builders, Inc.Community Economic

Development Assistance Corporation (CEDAC)

Covenant Fire ProtectionCS2C/NEDavis Square ArchitectsDellbrook ConstructionEastern Bank Charitable

FoundationErcolini & Company, LLPG&O Inc.Gina MartinezICON architecture, Inc.Insource Services, Inc.Johanna SmithJosef RettmanK. Regan MechanicalKeith ConstructionKevin Fish

Kevin P. Martin & Associates, P.C.

Klein Hornig LLPLongwood SecurityMarc MarcelliMassHousingMass. Housing Investment

Corporation (MHIC)Maloney PropertiesMordechai LevinMurtha CullinaNEI General ContractingNeighborworks AmericaNixon PeabodyNolan Sheehan Patten LLPNorfolk HardwarePaint & Coatings Services, IncPatricia BeldenPeabody Properties, Inc.Pella Windows & DoorsPeter Munkenbeck & Renata

Von TscharnerPetersen Engineering, Inc.Preservation of Affordable

Housing (POAH)Pyro/BainRecap AdvisorsReform MasonrySuperior PlumbingTara ConstructionTerratec ConstructionTom DavisTom OMalley and Beverly

ArsemUnited Way of Massachusetts

Bay and Merrimack ValleyVillage Forge, Inc.WinnCompanies

We apologize if your name has been omitted, misspelled, or otherwise improperly reported. Please contact us so we can correct our records (617) 989-9328.

DONORS & SUPPORTERS 2014

1542 Columbus Avenue | Roxbury, MA 02119617-989-9300

www.urbanedge.orgFacebook: /UrbanEdgeBoston | Instagram: @UrbanEdgeBoston

Twitter : @UrbanEdgeBoston #ALLIN

Urban Edge is one of 235 member organizations nationwide that make up Neighborworks America. Together, these organizations are committed to excellence in community development and serve more than 4,500 urban, suburban, and rural communities throughout the 50 U.S. states, District of Columbia and Puerto Rico.

Copy/Editor: Graphic Design & Printing: Photography:Sophia Abbasi & Sophia Abbasi; Leroy Stoddard Urban Edge photo archive