10 Nonprofit Groups Awarded Grants

Ten Los Angeles County nonprofit organizations have been awarded grants from the Fannie Mae Foundation, including one that will purchase and rehabilitate single-family homes in Pacoima, officials said.

In total, the foundation awarded the groups $809,500 for a variety of housing-related projects. The groups will participate in a broad range of development, research, education and counseling programs, officials said.

One of the recipients, Neighborhood Housing Services of Los Angeles, received a $100,000 grant and a $250,000 loan, which the group will spend in targeted Los Angeles neighborhoods, including Pacoima, San Pedro and Crenshaw.

“We provide support that enables groups like Neighborhood Housing Services to purchase single-family homes to rehabilitate,” said Antonio Manning, manager of the foundation’s western regional office. “They sell them to low- and moderate-income families that come through their education and counseling programs.”

Fannie Mae is a government-sponsored corporation that purchases mortgages from banks and other lenders and resells them to investors. Concentrating primarily on low- and middle-income Americans, Fannie Mae owns one out of every four residential mortgages in the country, officials said. The corporation is the sole source of support for the foundation.

Other groups receiving grants included Habitat for Humanity, New Economics for Women, the Southern California Assn. of Nonprofit Housing and the Los Angeles Community Design Center, which has rehabilitated several earthquake-damaged apartment buildings in the Valley.