The Cornerstone Homeownership Innovation Program (CHIP) is an outcome-driven grantmaking program for long-term affordable homeownership programs across the country funded by the Social Innovation Fund and the Ford Foundation. Through a rigorous selection process and a Grants Committee, we awarded funding to 10 grantees in April 2012. These grantees are exemplary nonprofit organizations that made a commitment to building their long-term affordable homeownership programs.
Current CHIP Grantee Profiles
Champlain Housing Trust
City First Enterprises, Inc
Homestead Community Land Trust
Long Island Housing Partnership
Mountainlands Community Housing Trust
South Florida Community Land Trust Network
Cornerstone is updating our roster of Technical Assistance (TA) consultants to support our CHIP grantees during their 2015-2016 program year. We’re seeking consultants with experience running long-term affordable homeownership programs, developing communications, marketing or outreach strategies for such programs, or working with cities that contract for stewardship services. If you have relevant experience, we invite you to submit a short introductory statement and current resume to Jenee Kresge Gaynor at email@example.com so that you are available for consideration as opportunities arise. TA engagements vary, but typically range from 40 to 100 hours over two to six months.
The Urban Instituted released Homeownership for a New Era: Baseline Report on the Cornerstone Homeownership Innovation Program, the baseline evaluation report for the CHIP. It features detailed descriptions of the CHIP grantees’ program models, data on the clients served during the study enrollment period, and some implications for the field in terms of policy and practice. Our final evaluation report, based on follow-up with both purchasers and non-purchasers, is expected in 2017. Check out the baseline report here (pdf) and find out more about Urban Institute’s work on the topic of shared equity homeownership here.
Cornerstone Partnership released The Balancing Act: Resale Formula Options for Long-Term Affordable Homeownership Programs, which features examples and guidance for the field developed during the CHIP grantees’ first three years in the program. It provides an overview of the goals of and need for a fair, well-tested resale formula for affordable homeownership programs that value preserving subsidy while also building their homeowners’ wealth. Check out the tool here (pdf).
Cornerstone Partnership has released Lessons from the Field: Peer Learning Report for the Cornerstone Homeownership Innovation Program, Year 1, which features profiles, learning stories, and related resources from the CHIP grantees’ first year in the program. It’s geared towards practitioners who can learn about capacity-building activities in similar programs, and review documents and tools the CHIP grantees have used and developed to date.
Read the Peer Learning Report (pdf)
Grantmakers for Effective Organizations released a profile of CHIP grantee Champlain Housing Trust through its Scaling What Works initiative.
Read GEO’s profile on the Champlain Housing Trust
The Corporation for National and Community Service, a major funder of the CHIP, released the first-ever Social Innovation Fund Investment Report. You can also learn more about the Social Innovation Fund’s work in this video.
Read the SIF Investment Report
Watch a video on SIF’s work
CHIP Grant Announcement Press Release
In 2011, the federal Social Innovation Fund, a program of the Corporation for National and Community Service, awarded the Cornerstone Partnership $2 million of funding over two years to launch the CHIP. Since April 2012, the 10 awards total more than $2.5 million, which is matched dollar for dollar by the subgrantees. In 2013, the Social Innovation Fund awarded the Cornerstone Partnership another $2 million of funding over two years to continue the CHIP. The SIF grants were also matched 1:1 in private funding.
SIF Award Announcement Press Release