Freddie Mac in the Community
Freddie Mac [NYSE: FRE] is a shareholder-owned corporation, chartered by Congress, whose people are dedicated to making the American dream of decent, accessible housing possible. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.
At the same time, we want these to be stable homes for families and children. That's why Freddie Mac is also committed to being a top corporate citizen and is the largest corporate funder in metropolitan Washington, DC. Along with the Freddie Mac Foundation, Freddie Mac has invested more than $348 since 1991 to strengthen families and communities.
Special Focus: Gulf Coast Recovery
Following Hurricanes Katrina and Rita, Freddie Mac and the Freddie Mac Foundation are making significant investments totaling more than $21 million thus far. Freddie Mac and the Foundation recently committed another $5 million to New Orleans, aimed at renovating housing and providing resident services for many low-to moderate-income families. The company also provided mortgage payment and other relief to affected homeowners; helped mortgage servicers and lenders reestablish their operations; made a $1 billion investment in state and local mortgage revenue bonds, funding housing for as many as 10,000 families; provided temporary or permanent housing for more than 2,100 families; and sent volunteers to help rebuild.
The Freddie Mac Foundation
Created by Freddie Mac, the Freddie Mac Foundation is dedicated to making home a place where children and families thrive. Since 1991, the Foundation has worked to increase family stability and strengthen communities by providing funds for a variety of nonprofit organizations serving children and their families, focusing primarily on metropolitan Washington, DC – the location of our corporate headquarters. A philanthropic leader, the Foundation has helped better the lives of more than 1.7 million children.
The Foundation's investments are primarily made in three focus areas: Stable Homes/ Stable Families, Foster Care and Academic and Career Success. Hallmarks of these focus areas are the Foundation's two signature programs:
- J.C. NALLE COMMUNITY SCHOOL: Since 1992, the Foundation has invested more than $7 million to help transform J.C. Nalle Community School in southeast Washington, DC into a full-service community school–offering a range of services that children and families need.
- WEDNESDAY'S CHILD: The Foundation's Wednesday's Child program is a national, $25 million effort to increase adoptions of foster children. Through this effort, the Foundation sponsors Wednesday's Child adoption features during TV newscasts in five major markets. These features profile hard-to-place foster children in need of adoptive, loving homes.
Corporate Giving
Freddie Mac's Corporate Giving program supports the company's mission of making home possible–especially for minority and underserved families. Through strategic philanthropic investments, Freddie Mac increases housing opportunities and supports partnerships and civic programs that strengthen the communities where the company's employees live and work.
For example, the company's philanthropic investments have helped more families get access to our award-winning CreditSmart® and CreditSmart® Español initiatives, collaborative public education and community-based outreach campaigns that spread the word to consumers about financial literacy and its relationship to homeownership.
Through Corporate Giving, the company underwrites and organizes Freddie Mac's Hoops for the Homeless®, our signature charitable event. This annual three-on-three basketball tournament–headlined by basketball legend Earvin “Magic” Johnson–matches local teams with celebrities to raise money and awareness about family homelessness in the Washington, DC region. Last year, the event raised more than $900,000 for six nonprofits working to end family homelessness.
Employee Volunteerism
Our philanthropic success owes much to the spirit and dedication of Freddie Mac's employees. Nearly a quarter of the company's 5,400 employees gave their time and charitable contributions by participating in volunteer activities throughout the community
Through this program, employees also make a profound difference for homeless families through Freddie Mac's Hoops for the Homeless®. In addition, employees share their time to help build and repair homes with Habitat for Humanity and Rebuilding Together. Employees also support the Foundation's work at J.C. Nalle Community School by mentoring, serving as pen pals, running Junior Achievement, going on field trips, and cleaning and fixing up school grounds.
A Good Neighbor
Giving back, helping others, and leading the way are part of Freddie Mac's culture and success. Looking ahead, Freddie Mac will continue to make home possible for more families, and the Freddie Mac Foundation will continue to make home a place where more children and families thrive. We recognize that being a successful company means we must also be a partner…a leader…and a good neighbor.
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