About
Enterprise Community Development is a nonprofit affordable housing developer, owner, and operator based in Columbia, Maryland. It is the community development arm of the Enterprise family of organizations and describes itself as the sixth largest nonprofit affordable housing provider in the United States and the largest in the Mid-Atlantic region. The organization takes a start-to-finish approach to building well-designed homes that residents can afford, pairing housing with wraparound resident services.
Mission
Enterprise Community Development creates and preserves affordable housing communities with residents at the center of its work. As the organization puts it, "residents are the heart of our work."
What they do
Its integrated services span the full life cycle of affordable housing:
- Acquisition and preservation of existing affordable housing
- New construction of affordable and mixed-income communities
- Property management across its portfolio
- Resident services delivered with community volunteers and local partners, including fresh food access, health programs, financial counseling, and afterschool activities
- Clean energy projects, such as solar installations at its properties
A recent flagship project, Legacy at Twin Rivers in Columbia, Maryland, replaced an aging 58-unit complex with 153 new homes using a mixed-income design: one-third reserved for the lowest-income residents, one-third for workforce housing, and one-third at market rate.
Scale and impact
- More than 23,500 residents live in its communities
- 117 properties managed
- Communities in more than 80 cities across multiple states
- A portfolio valued at $1.3 billion
- Ranked the sixth largest nonprofit affordable housing provider in the U.S. and the top provider in the Mid-Atlantic region
Financials
According to Enterprise Community Development's Form 990 for fiscal year 2024, as reported by ProPublica Nonprofit Explorer, the organization had revenue of $114,633,329, expenses of $88,272,839, and total assets of $334,560,481. Program services accounted for 51.6% of revenue and contributions for 16.9%, with the remainder from investment income and other sources.
Governance
Enterprise Community Development is a 501(c)(3) nonprofit (IRS tax exemption issued February 1995) operating as part of Enterprise Community Partners, whose divisions span Solutions, Capital, and Community Development.