Make a Difference Today
Find us on Facebook
Razoo’s Latest Tweets
Subscribe to Razoo News
Search Razoo News
The Washington Post – Post Local
Freddie Mac, Fannie Mae donations disappearing, study predicts by Patricia Sullivan
Fannie Mae and the Freddie Mac Foundation, the Washington area’s two biggest contributors to local charities, will probably end their philanthropy in the next few years, with troubling consequences for nonprofit groups that focus on education and human services for the poor, children and families, predicts a study to be released Monday.
The two federal housing financing corporations gave nearly $100 million to 500 local organizations in the past four years, but they significantly cut their donations after the housing bust and financial crisis hit in 2008.
Since then, the corporations have been placed in conservatorship and have focused more of their giving on groups that address housing issues. It is unlikely that their giving will return to previous highs, according to a report by George Mason University’s Center for Regional Analysis…