Capital Campaign - Housing Assistance Corporation

Frequently Asked Questions

Get answers to the most common questions about Housing Assistance’s Preserving the American Dream Capital Campaign. Additional resources are linked below.

Case for Support Discover 50 Years of Impact

Campaign Timeline

Why launch this campaign now?

This campaign is our strategic response to making a meaningful and immediate impact to the urgent needs for housing in our community. By launching this campaign now, we aim to promptly address these challenges by completing nine building projects in six Cape Cod towns, creating 250 new units for our year-round families by 2026.

What is the campaign goal?

The goal is to raise $5 million, including both gifts and pledges.

Campaign Funding

How will $5 million make 250 units possible?

The full cost of 250 units of housing is $125 million. With the ability to secure $120 million of this from other sources, our $5 million capital campaign will bridge the gap to ensure all 250 units can be completed by 2026, housing nearly 600 Cape Cod year-round residents.

What is the breakdown of the budget for all 250 units?

Funding Sources	Total
Capital Campaign	$5,000,000
State & Federal Funding	$83,750,000
HAC Mortgage	$25,000,000
Other Sources	$11,250,000
Total	$125,000,000

What are the “other” funding sources?

Other Sources represent various local and miscellaneous funding sources such as Community Preservation Committee funds, Affordable Housing Trust funds, grants, energy incentives, and developer fee “give-backs”.

The developer fee serves as compensation for the non-profit engaged in housing development to offset overhead costs (time and resources) invested in project development. This fee is included in the development budget and is generally released at the end of housing project construction (aka the “give-backs”).

Who will be living in the 250 housing units?

The housing units will be for people who are living year-round on the Cape. There will be some units where people have to income qualify for low income but there will be other units that will be for people making up to 100% area median income (this could range from $80k to $115k depending on household size and other factors). Most of the units are rentals and some will be condominium and townhome ownership options.

This campaign is restricted to adding inventory via the nine projects listed in the Case for Support. What about future projects and funding for that? Will you be asking for more money each time there is a new development?

These housing units include both rental and ownership units. Once complete, revenue from these nine projects will in turn bridge the gap for future construction projects. Housing Assistance may conduct another campaign for housing in the future, but we can assure prospects we will not do so in the next 3-5 years.

Raising $5 million isn’t very much money. The problem is much bigger than that!

We agree that $5 million alone will not completely address the housing crisis, but it will effectively bridge the funding gaps associated with the nine projects and 250 units we are focused on. While affordable housing initiatives will still benefit from federal, state, and local funds, there consistently exists a shortfall in financing to bring projects to completion. Currently, we rely on our own resources to fill this gap, which is unsustainable and hampers our ability to allocate funds to future projects.

Additionally, donor funds help to leverage many more millions in local, state, and federal public funds. The more we can show that we have our own equity or private funds in projects (i.e. some “skin in the game”) the more competitive we are when applying for public funds.

Ideally, closing the funding gap would enable us to successfully finish ongoing projects, thereby generating resources that can be reinvested to initiate new projects. This cyclical process is crucial for sustainable and continuous progress in addressing the housing crisis.

Campaign Solicitation

Why are you asking for a donation above and beyond my annual giving?

Annual donations provide essential funding to sustain our operations, encompassing programs and services that benefit over 6,500 individuals each year on Cape Cod. We want to ensure those 6,500 people continue to benefit from our assistance, while we simultaneously focus on adding inventory.

What’s more important - annual giving or this capital campaign?

Both play crucial roles, but the Capital Campaign during our 50th year holds paramount importance. A capital campaign is a special opportunity to offer extraordinary support over and above your usual charitable giving. This is a historic moment for our organization and the Cape Cod community, and everyone is encouraged to consider making a gift that reflects your commitment to the future of Cape Cod.

We are urging individuals to contribute generously beyond their annual giving to make a lasting impact and drive monumental progress for our community.

Will donors be publicly acknowledged?

Yes, unless the donor chooses otherwise. Public acknowledgment is the choice of the donor. Gifts can remain anonymous or be made in honor of someone if requested by the donor.

Campaign Gift Designation

Can I restrict my gift to a specific project?

Yes. All donations to this campaign will fund housing development. Donations will be used for the project with the greatest need, unless the donor requests that their gift be used for a specific housing project.

If a donor has a particular affinity for one region of the Cape and is more likely to support generously to that specific region, they can specify their restriction. To provide Housing Assistance with maximum flexibility, donation restrictions will only be implemented upon request.

If we raise additional funds beyond the specified “gap funding” for a particular project, we can maintain flexibility. Other funding sources are often more adaptable and can be redirected to another project.

Campaign Pledges & Donor Acknowledgements

Can I give a multi-year pledge?

Yes. For many, a pledge is the preferred way to make a generous gift. It allows you to pay later or spread out your payments over multiple months or years, which may allow you to donate more than if you had to make your gift all at once. As the donor, you can specify the time period and payment schedule you wish. Campaign gifts can be pledged up to a three-year period (2024, 2025, 2026).

Are donations to the capital campaign tax deductible?

Yes. Housing Assistance is a tax-exempt 501(c)(3) nonprofit organization. Donations are tax deductible to the full extent of the law. Donors will receive a formal acknowledgement letter documenting their contributions to the Housing Assistance Capital Campaign for their records.