From the Columbus Metropolitan Housing Authority's press release:
The Columbus Metropolitan Housing Authority (CMHA) Board of Commissioners has approved the creation of a new nonprofit organization that will serve as a public charity to help CMHA achieve its philanthropic goals.
“The board’s decision will allow us to secure additional funds to support CMHA residents by increasing the number and types of programs and services we provide,” said CMHA Board Chairman Stanley Harris. “CMHA’s ultimate objective is to help individuals and families obtain affordable housing while also connecting them to vital services and support programs they may not know exist within our community.”
Funding sources for the nonprofit – which is tax-exempt under section 501(c)(3) of the Internal Revenue Code – will include public and private grants, sponsorships and individual giving. Many Low-Income Housing Tax Credit (LIHTC) funders, such as banks and healthcare providers, offer corporate grants that CMHA plans to pursue through its nonprofit.
“The creation of our nonprofit shows CMHA’s commitment to our residents’ success,” said CMHA Commissioner Jamie Roberson. “It also lets the community know that we’re a good steward of taxpayer and stakeholder resources.”