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Fox 5 Money
Non-Profits Facing Diminished Contributions From Fannie Mae, Freddie Mac by Melanie Alnwick
WASHINGTON – Fannie Mae’s money helped build the day care at Martha’s Table on 14th Street in Northwest D.C. Freddie Mac’s money sustains it. Soon, those contributions could be going away.
“It’s a succession of shoes that keep dropping,” said Lindsey Buss, President of Martha’s Table.
Martha’s Table is one of hundreds of local non-profits that have counted on funds from Fannie and Freddie. In 2007, the two housing finance titans contributed $65 million to charities nationwide. Then the housing market collapsed. The companies lost money and their donations dropped 40 percent.