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National Equity Fund Inc at a glanceAlso receives grants: funding profile →

· Public charity

National Equity Fund Inc

National equity fund's mission is to create and deliver innovative, collaborative financial solutions to expand the creation and preservation of affordable housing.

$17M
Granted FY2024still arriving
3
Grants FY2024still arriving
3
States reached
$17M
Largest
01What it fundsRead
02The needRead
03Its granteesRead
04Its fieldRead
01What it funds
01100% classified

What it funded, over time

Every grant placed by its stated purpose and the recipient’s mission, by year, FY2017 to 2024.

Community Improvement$103MHousing & Shelter$12MHuman Services$9k
02FY2024 · 3 grants

Where the money goes

Grants by size, and the largest recipients.

By grant size · FY2024

  • $10k–50k2 grants · $55k
  • $250k+1 grant · $17M
$40,000
Median grant
3
States reached
$122M
Total assets
Largest grants
RecipientAmount
LOCAL INITIATIVES SUPPORT CORPORATION$17,400,000
ABBEY ROAD INC$40,000
CHICAGO REHABILITATION NETWORK$15,000
02The need
03

Does the money reach high-need areas?

Each grant placed by the hardship in its grantee’s ZIP, against the area’s typical level.

show:

Its human-services grants (FY18–24, $169k) land where the poverty rate runs at 12%, against an area that typically sits at 10%. 89% of those dollars go to grantees based in above-average-need neighborhoods. Most of its grants land in higher-need ZIPs.

area typical 10%PROJECT FOR PRIDE IN LIVING INC: $20k → 11%EPISCOPAL COMMUNITY SERVICES OF SAN FRANCISCO: $9k → 10%COMMUNITY SERVICES FOR EVERY I INC: $9k → 13%MOVIN' OUT INC: $9k → 10%SECOND CHANCE CENTER INC: $10k → 10%ATTENTION INC: $40k → 12%PROJECT FREEDOM INC: $10k → 11%PROJECT FOR PRIDE IN LIVING: $15k → 11%ATTENTION HOMES: $9k → 12%ABBEY ROAD INC: $40k → 14%0%20%40%50%more need →
grant to an above-average-need area below average· circle size = grant amount
How this is measured
Matched: human-services grants are those whose grantee’s IRS cause code is Human Services. Placed by people below the poverty line in the grantee’s ZIP, averaged from the tracts in that ZIP.

Which US states its grants reach

WA
MN
IL
WI
MI
NY
OR
NV
IN
OH
PA
NJ
CT
RI
CA
CO
AZ
DC
LA
GA
TX
How this is measured
US grants placed by each grantee’s ZIP, which can differ from where services are delivered. Need from public data (U.S. Census/ACS, CDC PLACES, Eviction Lab, USDA), shown as context about the area, never attributed to the funder’s giving.
03Its grantees
repeat funding

Who it funds again

Organizations funded in more than one year, against those funded once.

99%of every dollar goes to organizations it has funded before.
$115M · 8 repeat orgs$793k to everyone else

Grantees it renews have grown median revenue +113% since the first grant, against +52% for those funded once.

8 repeat relationships: 2 still active in FY2024, 6 since wound down; 1 grantees were first funded in FY2024 (too recent to call).

How the two cohorts compare

Re-uppedFunded once

Organizations

8
46

Total granted

$115M
$753k

Median revenue growth · since first grant

+113%
+52%

Still filing today

100%
96%

New vs renewed · share of each year

In FY2024, 100% of grant dollars renewed an existing relationship; $40k went to new ones.

50%100%’17’18’19’20’21’22’23’24
RenewedFirst-time

Where new relationships form · theme of each grantee’s first grant

’17’18’19’20’21’22’23’24
Housing & ShelterHuman ServicesCommunity ImprovementPhilanthropyHealthEducationOther
How this is measured
First-time means a grantee’s first year in the filing window; renewed means funded in an earlier year too. The renewed share climbs naturally as a portfolio matures, so the signal is a year that bucks it (a wave of new grantees). The earliest year is left-censored: relationships that predate the data read as new. Theme is the grantee’s IRS cause.

Backed again, and grew

  • LOCAL INITIATIVES SUPPORT CORPORATION
    8× · 2017–2024 · $114M · revenue +135%
  • CR
    CHICAGO REHAB NETWORK
    6× · 2017–2024 · $100k · revenue +113%
  • NH
    New Hope Housing Inc
    2× · 2018–2019 · $60k · revenue +10%

Funded once

  • NC
    NATIONAL CHURCH RESIDENCESgraduated
    one grant, 2019 · $100k · revenue +153%
  • SR
    SKID ROW HOUSING TRUSTgraduated
    one grant, 2018 · $50k · revenue +283%
  • OC
    OREGON CORPORATION FOR AFFORDABLE HOUSING
    one grant, 2020 · $50k · revenue -52%
How this is measured

Repeat means funded in two or more distinct years. Growth and survival are read from each grantee’s own subsequent IRS filings.

04Its field

Closest unfunded matches

The nonprofits that most resemble its grantees but are not funded by it, scored along the direction from the rest of the field toward the portfolio. A resemblance in what they say they do, not a recommendation.

1
Innovative Housing Inc

Develop, preserve and operate affordable housing for low and moderate- income households and provde services to residents to maintain housing stability, improve quality of life and break the cycle of poverty.

Housing & Shelter
2
Archway Housing & Services

To provide safe, habitable housing for families with low to moderate incomes, including homeless families, and to develop mixed income housing to help low income families in the transition to self-sufficiency while providing comprehensive…

Housing & Shelter
3
Burbank Housingsr Corporation

To own and operate affordable rental housing.

—
4
Neighborhood Housing Services of Waco

Building stronger neighborhoods through homeownership, quality rental housing and community building initiatives.

Housing & Shelter
5
Contemporary Housing Alternatives of Florida Inc

Our mission is focused on urban revitalization by providing affordable, vibrant, multi-family housing for low- and moderate-income individuals and families. we offer rental units throughout pinellas county at and below market rates to…

Housing & Shelter
6
Partnership Housing Inc

Partnership housing, inc. brings people together to build homes, communities and hope to realize our vision of a world where everyone has a decent place to live.

Housing & Shelter
7
Habitat Community Housing Development Inc

Development of affordable housing

—
8
Affordable Housing Corporation
Housing & Shelter
9
Community Housing Council
Housing & Shelter
10
The Housing Collective Inc

The housing collective harnesses the power of collective impact to provide access to safe and affordable housing and ensure housing stability for all.

Crime & Legal
11
Neighborhood Nonprofit Housing Corp

Create quality affordable housing opportunities, enhance communities and provide households with skills to become self-sufficient.

Housing & Shelter
12
Interfaith Housing Development Corporati

Housing placement for homeless

Housing & Shelter
How this is measured
The grantee most central to the portfolio’s shape is Mercy Housing Inc; the most unlike its peers is Commons Impact Foundation. Resemblance is measured on each organization’s own IRS 990 mission text; it reflects how work is described, not its quality or impact.
04the grantee network

54 grantees tracked through their own filings, 2017–2025.

Each grant beside the grantee’s revenue from every source, year by year.

How this is measured

Counted here: distinct organizations funded across 2017 to 2025, not grant rows in a single year, so this will not match the grant count on the cover. 54 of the 55 grantees resolved in that span have returns of their own we could reconcile.

Each grantee is resolved to its own IRS returns. Association, dated; never a causal claim.

1
Load-bearing (≥25% of a budget)
11
Early backer (in before they grew)
53/54
Grantees still filing
39/54
Grew since first funded

Where the money sits, by cause and then by grantee

LOCAL INITIATIVES SUPPORT CORPORATION: $114,360,000 · Community ImprovementLOCAL INITIATIVES SUPPORT CORPORATION+2 more: $18,500 · Community ImprovementNATIONAL CHURCH RESIDENCES: $100,000 · Housing & ShelterCHICAGO REHAB NETWORK: $100,000 · Housing & ShelterNew Hope Housing Inc: $60,000 · Housing & ShelterOREGON CORPORATION FOR AFFORDABLE HOUSING: $50,000 · Housing & ShelterFULL CIRCLE COMMUNITIES INC: $48,500 · Housing & ShelterMERCY HOUSING INC: $46,000 · Housing & ShelterPresbyterian Seniorcare Foundation: $30,000 · Housing & ShelterONE ROOF CHICAGO: $30,000 · Housing & Shelter+20 more: $195,500 · Housing & ShelterATTENTION INC: $48,500 · Human ServicesABBEY ROAD INC: $40,000 · Human ServicesPROJECT FOR PRIDE IN LIVING INC: $35,000 · Human ServicesPROJECT FREEDOM INC: $10,000 · Human ServicesSecond Chance Center Inc: $10,000 · Human ServicesGULF COAST HOUSING PARTNERSHIP INC: $8,500 · Human ServicesMOVIN OUT INC: $8,500 · Human ServicesWaves Ahead Corp: $8,500 · Human ServicesEPISCOPAL COMMUNITY SERVICES OF SAN FRANCISCO: $8,500 · Human ServicesCOMMUNITY SERVICES FOR EVERY1 INC: $8,500 · Human ServicesUNITED FOR BETTER LIVING INC: $26,500 · OtherNEVADA HAND INC GROUP RETURN: $21,049 · OtherLA FAMILY HOUSING CORPORATION: $10,000 · OtherOVER THE RAINBOW ASSOCIATION: $10,000 · OtherMUTUAL HOUSING ASSOCIATION OF GREATER HARTFORD INC: $10,000 · OtherSERVICES AND ADVOCACY FOR GAY LESBIAN BISEXUAL AND TRANSGENDER ELDERS INC: $8,500 · OtherNEW PISGAH COMMUNITY SERVICE ORGANIZATION: $7,500 · OtherRS EDEN: $17,500 · OtherBRIDGE MEADOWS: $8,500 · OtherSKID ROW HOUSING TRUST: $50,000 · PhilanthropyCOMMONS IMPACT FOUNDATION: $20,000 · PhilanthropyHOLOS INC: $23,500 · EducationA SAFE HAVEN FOUNDATION: $10,000 · HealthNATIVE AMERICAN CONNECTIONS INC: $8,500 · Health
Community Improvement$114,378,500Housing & Shelter$660,000Human Services$186,000Other$119,549Philanthropy$70,000Education$23,500Health$18,500

Each grantee by its size and the funder’s share of it; top left is load-bearing

25%50%75%100%$1.0M$10M$100Mgrantee revenue →↑ funder's share of their budgetLOCAL INITIATIVES SUPPORT CORPORATION: $114,360,000 over 8y, 6.7% of budgetNATIONAL CHURCH RESIDENCES: $100,000 over 1y, 0.2% of budgetCHICAGO REHAB NETWORK: $100,000 over 6y, 3.7% of budgetNew Hope Housing Inc: $60,000 over 2y, 0.4% of budgetSKID ROW HOUSING TRUST: $50,000 over 1y, 0.3% of budgetOREGON CORPORATION FOR AFFORDABLE HOUSING: $50,000 over 1y, 2.9% of budgetATTENTION INC: $48,500 over 1y, 1.3% of budgetFULL CIRCLE COMMUNITIES INC: $48,500 over 2y, 0.5% of budgetMERCY HOUSING INC: $46,000 over 1y, 0.2% of budgetABBEY ROAD INC: $40,000 over 1y, 1.7% of budgetPROJECT FOR PRIDE IN LIVING INC: $35,000 over 2y, 0.1% of budgetPresbyterian Seniorcare Foundation: $30,000 over 1y, 0.7% of budgetONE ROOF CHICAGO: $30,000 over 1y, 32% of budgetHOLOS INC: $23,500 over 2y, 0.7% of budgetCOMMONS IMPACT FOUNDATION: $20,000 over 1y, 10% of budgetBICKERDIKE REDEVELOPMENT CORPORATION: $20,000 over 1y, 0.4% of budgetWEST SIDE FEDERATION FOR SENIOR AND SUPPORTIVE HOUSING INC: $18,500 over 2y, 0.0% of budgetRS EDEN: $17,500 over 2y, 0.1% of budgetA SAFE HAVEN FOUNDATION: $10,000 over 1y, 0.1% of budgetPROJECT FREEDOM INC: $10,000 over 1y, 0.3% of budgetLA FAMILY HOUSING CORPORATION: $10,000 over 1y, 0.0% of budgetALLIANCE HOUSING INC: $10,000 over 1y, 0.6% of budgetRUPCO INC: $10,000 over 1y, 0.1% of budgetCYPRESS HILLS LOCAL DEVELOPMENT CORPORATION: $10,000 over 1y, 0.1% of budgetSecond Chance Center Inc: $10,000 over 1y, 0.2% of budgetOVER THE RAINBOW ASSOCIATION: $10,000 over 1y, 0.5% of budgetMUTUAL HOUSING ASSOCIATION OF GREATER HARTFORD INC: $10,000 over 1y, 0.1% of budgetHOLLYWOOD COMMUNITY HOUSING CORPORATION: $10,000 over 1y, 0.2% of budgetPATH VENTURES: $8,500 over 1y, 0.4% of budgetMHT HOUSING INC: $8,500 over 1y, 0.1% of budgetCATHOLIC CHARITIES HOUSING SERVICES DIOCESE OF YAKIMA: $8,500 over 1y, 0.1% of budgetNATIVE AMERICAN CONNECTIONS INC: $8,500 over 1y, 0.0% of budgetAVALON NONPROFIT HOUSING CORPORATION: $8,500 over 1y, 0.1% of budgetBRIDGE MEADOWS: $8,500 over 1y, 0.3% of budgetGULF COAST HOUSING PARTNERSHIP INC: $8,500 over 1y, 0.0% of budgetTAPESTRY DEVELOPMENT GROUP INC: $8,500 over 1y, 0.9% of budgetCOMMUNITY HOUSING WORKS: $8,500 over 1y, 0.0% of budgetMOVIN OUT INC: $8,500 over 1y, 0.3% of budgetWaves Ahead Corp: $8,500 over 1y, 1.9% of budgetEPISCOPAL COMMUNITY SERVICES OF SAN FRANCISCO: $8,500 over 1y, 0.0% of budgetCOMMUNITY SERVICES FOR EVERY1 INC: $8,500 over 1y, 0.0% of budgetAFFORDABLE HOUSING SOLUTIONS: $8,500 over 1y, 0.5% of budgetPEOPLE'S SELF HELP HOUSING CORP: $8,500 over 1y, 0.1% of budgetALLEGHENY COUNCIL TO IMPROVE OUR NEIGHBORHOODS-HOUSING INCORPORATED: $8,500 over 1y, 0.0% of budgetOMNI DEVELOPMENT CORPORATION: $8,500 over 1y, 0.2% of budgetST NICKS ALLIANCE CORPORATION: $8,500 over 1y, 0.0% of budgetPLYMOUTH HOUSING GROUP AND SUBSIDIARIES: $8,500 over 1y, 0.0% of budgetSERVICES AND ADVOCACY FOR GAY LESBIAN BISEXUAL AND TRANSGENDER ELDERS INC: $8,500 over 1y, 0.0% of budget
Grantee by grantee: a decade per organization, before and after funding

A decade per grantee: revenue shaded, grants as bars, all rows on one timeline.

Co-funders

Grantmakers whose grantees overlap with this funder’s far more than size alone predicts. Closer means stronger alignment; arcs show where they also fund each other. Here they form a tightly interlocked group: most of these funders back each other's grantees too.

Enterprise Community …THDF II Inc DBA The H…Local Initiatives Sup…Corporation for Suppo…Mufg Union Bank Found…The Harry and Jeanett…Neighborhood Reinvest…Jpmorgan Chase Founda…Tides FoundationOregon Corporation fo…The Housing Partnersh…Wells Fargo Foundation
Enterprise Community Partners IncMD45.8× affinity22 shared granteesties to 11 of 11Hover any node to trace its alignments.Compare side by side →

Open a dossier: Enterprise Community Partners Inc · THDF II Inc DBA The Home Depot Foundation & Homer Fund · Local Initiatives Support Corporation · Corporation for Supportive Housing · Mufg Union Bank Foundation Ag · The Harry and Jeanette Weinberg Foundation Inc · Neighborhood Reinvestment Corporation · Jpmorgan Chase Foundation · Tides Foundation · Oregon Corporation for Affordable Housing · The Housing Partnership Network Inc · Wells Fargo Foundation

How this is measured
Affinity is a Gamma-Poisson posterior co-funding rate, re-centered on the typical rate, so thin evidence shrinks toward no signal. Overlap is association, not proof of shared intent.

How much its grantees rely on government

Each dot is one organization National Equity Fund Inc funds: left to right is the share of its income from government, bottom to top the share from National Equity Fund Inc. Bigger dots raise more.

2024
’20’21’22’23’24’25
no gov · 00%3%10%23%40%funder's share of their income ↑0%25%50%75%100%share of the org’s income from government →median 22%
  • Bridge Meadows: 36% of income from government
  • Mutual Housing Association of Greater Hartford Inc: 22% of income from government
  • Project Freedom Inc: 4% of income from government
no gov moneyreceives it· size = income
0get no government money at all
21report government grants on their 990 we could not trace to a source (not plotted)
0rely on government for over half their income
typical government reliance, FY20–25
How this is measured
Government income is each org’s traced federal awards (USASpending grants and contracts) plus state payments (open checkbooks) as a share of its total revenue (IRS Form 990); the self-reported government-grant line (990 line 1e) is carried for cross-check: a grantee that reports government grants we could not trace to a source is left off the chart rather than shown as receiving none. An association, not a claim that a grant caused the public funding. Coverage is precision-first, a floor rather than a census; state records exist for 9 states, so a grantee outside them shows no state figure (dimmed) rather than a false zero. Federal award amounts are obligations, which can span years, so a single-year share is indicative. 990 filings lag 12 to 24 months.

On method. Every financial figure here is read from IRS e-file XML, the funder’s own 990/990-PF, and from the multi-year returns of the 55 grantees we resolved, each linked to its source. Grantee outcomes are each organization’s own program-service reporting (Form 990, Part III), read as association with funding, never as caused by it. Low-confidence name matches are suppressed rather than guessed. How we build these →

How this is measured
Each figure carries one of six labels. Filed is what the funder reported on its return. Official is another government record about an organization, such as a federal award or a charity register, joined by name where no shared identifier exists. Resolved is an identity we worked out where the filing named a recipient without an EIN, kept only above a measured confidence threshold. Computed is arithmetic over those, like themes, portfolio clusters and co-funder strength. Context is a statistic about a place rather than about an organization, which is what the need overlay is: it describes the area a grantee’s address sits in, not where its work lands. Inferred is drawn by a model from text, like the partnerships read out of public news and organization websites. Each is labeled where it appears.

Generated from the IRS Form 990 e-file return for fiscal year 2024, released 2024. Filings run roughly 12 to 24 months behind; figures are dated accordingly.

Source object · view filing

Play a game based on National Equity’s filings →

More from the funding graph

The unnamed billions
grants reported with no recipient in the public record
The regranting layer
51% of grant dollars land in the regranting layer
The DAF merry-go-round
$9.7B circulates between donor-advised funds
The endowment market
who holds foundation money, and what just moved
The camps
funders cluster by geography, not ideology
By state
where grant money is based, and what stays home