This piece was originally published in Greenville Business Magazine, in the December 2024 issue.
The affordable housing crisis continues to escalate across the U.S. Limited housing supply and stagnant wages have compounded the problem, as have recent natural disasters. As a result, gaining access to and sustaining safe, affordable housing remains out of reach for many individuals and families. In fact, according to one-year estimates from the Census Bureau's American Community Survey (ACS), 31% of all American households were "cost burdened" in 2023, including 27% of households with a mortgage and 49.7% of households that rent. "Cost burdened" is defined by the U.S. Department of Housing and Urban Development as spending more than 30% of your income on housing costs.
While housing affordability remains a complex and challenging issue, it’s important to consider how affordable housing benefits our communities as we work toward collective progress. There are many, ranging from reducing childhood poverty, increasing economic mobility and supporting healthier communities to creating jobs and tax revenue that can be reinvested into communities.
Recognizing the challenges as well as the opportunity to make a positive impact, TD Charitable Foundation, the giving arm of TD Bank, has stepped up supporting nonprofit organizations focused on housing solutions within its Maine to Florida footprint through its annual Housing for Everyone program. The annual competition seeks to support a different aspect of affordable housing each year such as increasing housing supply or creating re-housing solutions for those who experience homelessness. Since 2005, the Housing for Everyone grant program has awarded more than $49 million to support more than 550 affordable housing initiatives.
The 2025 Housing for Everyone program launched on January 7 and will run through 4 p.m. on February 6, 2025. The competition will award 36 grants totaling $7.2 million to eligible 501(c)3 organizations that support families and individuals across TD's footprint struggling to retain their homes, amid economic pressures. TD will fund nonprofit programming focused on post-purchase and/or foreclosure counseling, energy efficiency improvements, legal assistance and/or property tax relief programs, for example.
"Housing for Everyone grant recipients work closely with TD to improve housing access by developing innovative solutions that lead to safe affordable places for people to call home," said Paige Carlson-Heim, Head of Social Impact, TD Bank. "It is a privilege to support our Housing for Everyone grant recipients and to continue to be a part of this imperative work."
The impact of that imperative work cannot be overstated. Pendleton Place, a 2024 beneficiary of Housing for Everyone, is a nonprofit organization in Greenville, South Carolina that offers programs to help children, youth and families affected by a variety of forms of trauma including abuse, neglect, homelessness, poverty and foster care. With funding from TD, Pendleton Place is nearing completion of a renovation of a previously vacant home into transitional housing for youth ages 18 to 21 exiting homelessness. Using a holistic approach, this project addresses immediate housing needs while also providing case management and peer support to tackle underlying barriers such as employment, education, transportation and independent living skills.
“Lack of affordable and appropriate housing remains a significant barrier to independence for youth and young adults. With this generous grant from TD Charitable Foundation, Pendleton Place is able to add three more beds to the transitional living program, providing a safe place for these youth to call home each night," said Pendleton Place Board Chair Matt King. "By doing so, it not only addresses the need for more housing options but also equips these youth with the tools and support necessary for successful, independent living.”
Upstate Warrior Solution, a nonprofit serving Upstate South Carolina veterans, first responders and their families, was a 2023 Housing for Everyone beneficiary. Through their own grant, Upstate Warrior Solution was able to increase support for local veterans at-risk for or currently experiencing homelessness. In addition to providing rental assistance, Housing for Everyone also supported Upstate Warrior Solution's ability to provide holistic case management services to ensure long-term stability.
“Access to safe and affordable housing remains a critical need for many veterans and their families across the Upstate,” said Charlie Hall, president, Upstate Warrior Solution. “As a locally based nonprofit, having the support of partners like TD Charitable Foundation plays a critical role in our ability to offer impactful housing assistance. We're grateful to TD Charitable Foundation for their investment in our mission and, most especially, in the success of our local warriors!"
For more information or to apply to this year's Housing for Everyone grant, visit http://www.td.com/housingforeveryone.
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