SOURCE: Homebuilding Community Foundation

April 18, 2008 11:08 ET

The Housing Industry's Generosity Shone in 2007

HOUSTON, TX--(Marketwire - April 18, 2008) - Members of the homebuilding industry gave more than $6 million to charitable organizations through the Homebuilding Community Foundation in 2007.

One piece of housing-industry news in 2007 was decidedly positive: While the building-activity slowdown lingered on, homebuilding professionals did not slow down their charitable giving efforts, contributing more than $6 million to arts and cultural, educational, social-service, faith-based and other organizations nationwide.

This significant contribution to builders' own communities is the cumulative and generous result of more than 200 individual grants housing-industry professionals made through the Homebuilding Community Foundation (HCF). As a "give through," not "give to," organization, HCF offers housing-industry professionals a way to simplify their giving efforts by establishing personal, or donor-advised, funds. Fund holders then direct gifts out of their HCF funds to support their preferred charities.

During 2007, HCF's seventh year, contributors gave $5,493,404 to existing funds or to open new donor-advised funds, which brought the organization's lifetime total of inbound funds to more than $53 million. HCF fund holders directed 213 grants to charitable causes in 2007, totaling $6,580,189. Since HCF's inception, HCF fund sponsors have allocated more than $37 million in grants to local and national charitable causes and concerns.

"Our donors are involved in many diverse charitable causes," says J. Roger Glunt, HCF president and president of Glunt Development Co. and Jayar Construction Co. "By giving through HCF, they are able to easily and individually continue their philanthropic work, making a difference in their communities while collectively spotlighting the generosity of our shared industry. For me, philanthropy is like a hobby. HCF makes it easy to support that hobby."

To optimize investment gains, donors' contributions are aggregated and professionally managed through the HCF Total Fund, where they are held until a donor submits a grant directive. In 2007, the Total Fund return achieved 7.8 percent, adding to donors' giving power.

About HCF

Founded by the late James Pugash, the Homebuilding Community Foundation (HCF) offers philanthropists in the housing and homebuilding professions an easy way to manage their charitable efforts in their communities. Since 2001, housing-industry donors have contributed $53 million to establish donor-advised funds through HCF. These funds have delivered more than $37 million in financial support to cultural, educational, faith-based and social-service organizations nationwide.

Homebuilding Community Foundation: Building Pride at Home.