Through its Grants for New England
Partnerships (GNP) program, the Federal Home Loan Bank
of Boston awards grants to eligible member institutions
for distribution to the nonprofit organizations of their
choice. In many cases, the nominating member matches
the Bank's grant.
For more information, contact Paulette Vass, Community Development advance manager, at 617-292-9792
2012 GNP Eligibility Criteria
1. $1,000 GNP
a) New User:
- Any member that receives funding under the CDA Extra or CDA program for the first time in 2012. For purposes of this eligibility component the term “first time user” is defined as any member with no approvals or funding in 2010 or 2011.
b) Economic Development Initiatives:
- Any member that receives funding under CDA Extra for economic development initiatives benefitting families or located in census tracts with incomes at or below 80 percent of the area median income or
- Any member that receives funding under CDA for small business or an economic development initiative located in a census tract or serving households with incomes at or below 100 percent of the area median income in an urban area, or 115 percent of the area median income in a rural community.
2. $2,000 GNP
a ) Foreclosure Prevention:
- Any member that receives funding under CDA Extra for a mortgage origination or refinancing product designed to assist home buyers facing foreclosure, or creates lending opportunities that will help homeowners keep their current homes.
b) Disaster Recovery:
- Any member that receives funding under CDA for economic development initiatives designed to foster efforts to assist areas recovering from disasters.
*As qualifying CDA and CDA Extra applications are funded, members will be notified of their eligibility to participate in the GNP program.
2011 GNP Program Results
During 2011, the Federal Home Loan Bank of Boston awarded a total of $25,000 in grants to 26 nonprofit organizations on behalf of 25 members that submitted either a CDA Extra or CDA application. Eligible applications included those supporting a mortgage-financing product serving income-eligible households; economic-development initiatives located in income-eligible neighborhoods or serving income-eligible households; or small businesses in income-eligible communities.
In 2011, our members sponsored the following nonprofit organizations.
Habitat for Humanity/7 Rivers Maine
United Voice Community Land Trust
NeighborWorks Greater Manchester
Belmont Education Foundation
Caritas Communities, Incorporated
Home Health & Children Services, Inc.
Community Housing of Maine, Inc.
The Community Fund of Darien
Smithfield Department of Welfare
Pioneer Valley Habitat for Humanity
Rebuilding Together Springfield
Central Maine Growth Council
Housing Corporation of Arlington
Church Community Housing Corporation
Edgar J. Paradis Cancer Fund
The Family Resource Center
Ginny's Helping Hand, Inc.
Wardwell Home for the Aging
Somerset Economic Development Corporation
Warm The Children
United Way of Pioneer Valley
Neighborhood Housing Services of Waterbury