February 24, 2009

The San Francisco Foundation Joins Forces with the Federal Reserve Bank of San Francisco, Federal Home Loan Bank of San Francisco, and NeighborWorks® America to Encourage Home Ownership

(SAN FRANCISCO) – Tuesday, February 24, 2009 – The San Francisco Foundation (TSFF) joins forces with the Federal Reserve Bank of San Francisco, Federal Home Loan Bank of San Francisco, and NeighborWorks® America for a community forum encouraging home ownership.

The San Francisco Foundation supports a comprehensive spectrum of affordable housing strategies, including promoting financial literacy and saving, supporting housing development and advocacy for housing access, investing in community development, and promoting home ownership. TSFF invests in community strategies to increase family stability, economic security, public health and safety, and vibrant neighborhoods that ensure a stronger infrastructure for the future.

We are pleased to join in this event with HomeownershipSF – an innovative, new collaboration that helps low-income people, communities of color, and families stay in San Francisco.

In 2008, The San Francisco Foundation helped launch the $5 million California Home Owner Preservation Initiative. Ten financial institutions, including Bank of America, Citigroup, JP Morgan Chase, and USBank who are participating in today’s forum, pooled funds to create grants to provide foreclosure counseling. The Initiative brought together 40 organizations statewide.

The San Francisco Foundation (TSFF) is the community foundation serving the Bay Area since 1948, granting nearly $776 million over the past ten years. Through the generosity and vision of our donors, TSFF awarded grants totaling more than $96 million in fiscal year 2008. Bringing together donors and building on community assets through grantmaking, leveraging, public policy, advocacy, and leadership development, TSFF addresses community needs in the areas of community health, education, arts and culture, community development, social justice, and the environment. The San Francisco Foundation is a community foundation serving San Francisco, Alameda, Contra Costa, Marin, and San Mateo Counties.