Partner in Housing: Virginia's Nonprofit Housing Sector
Authors: C. Theodore Koebel, Brooke D. Hardin
Publisher: Virginia Center for Housing Research
Nonprofit housing organizations primarily exist to address the housing needs of low-income Virginians, those whose housing needs are not sufficiently met by the forprofit sector or by government. NHOs are private corporations with a board of directors who volunteer their time and services, and most have paid staff. Nonprofit housing organizations are very similar to for-profit housing corporations in their size, productivity and commitment to the “bottom line.” But unlike for-profit firms, NHOs are “mission driven” instead of profit maximizing corporations. And their mission is solidly public rather than private. As hybrids, these organizations are expected to join the management discipline of the private sector with the public purpose of government. They are said to focus on a “double bottom line”, attending to their social purpose with sound business practices.