west newton, ma 02465 paid can-do financially stable ... · can-do 1075 washington street west...

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BOARD Jane Eisenstark President Kenneth J. Sinclair Treasurer Deanna Reid Clerk Lonna J. Carter Michelle Hayes Cindy Kane Nina LeDoyt James M. Thompson Josephine McNeil Executive Director CAN-DO is managing to continue our modest success to create affordable rental housing opportunities for low-income families in spite of the precariousness of the economy. Our ability to forge onwards is due, in no small measure, to our loyal supporters. You provide funding for our ongoing operation and sustenance for our organization. e funding for developing the properties we purchase and renovate is provided by federal funds, Newton Community Preservation Funds, conventional mortgage financing and private foundations. Without your support, however, none of our success would be possible. We’re happy to report that the Veteran House is fully occupied. Our second veteran family, a dad with three children, recently moved into the second unit. ey are thrilled with their new home. Aſter seeing the apartment for the first time, he was asked if he liked it and responded, “Are you kidding, what is there not to like?” is is a sentiment we hope all present and future residents share. In October, with an eye toward the future, the Board of Directors and the Executive Director were joined by a member of the Advisory Committee and its bookkeeper at a retreat. e focus of the retreat was to develop a three-year strategic plan for the organization. You will hear more about this in the months to come, as there will be a role for you! In closing the Board of Directors, the CAN-DO staff, and I wish you and your family good health and a joy-filled anksgiving and holiday season. With gratitude, - Jane Eisenstark, President News from the President CAN-DO 1075 Washington Street West Newton, MA 02465 SAVE THE DATE!! March 4, 2012 CAN-DO’s 9th Annual YIMBY Celebration PRSRT STD US POSTAGE PAID Boston, MA Permit No. 869 CAN-DO Financially Stable & Looking Forward Financially speaking, CAN-DO operated “in the black” last year for the first time since 2007. All three of our operating activities, Housing Development, Rental Properties, and Administration, had small positive cash flow. at’s a small, but important step for CAN-DO, which emerged from the 2007-2008 real estate crisis with significant losses. Many small non-profit developers would not survive such losses, but with extraordinary community support, CAN-DO has successfully restructured its debts and continued to carry out its mission: providing affordable housing for members of our community! With the opening of Veteran House this year, our portfolio of eight rental properties is financially healthy and is building reserve capital to fund future maintenance. Our project on Pearl Street in Newton Corner has been approved and will begin construction shortly. CAN-DO’s success is only possible with the generosity of our individual contributors, the commitment and support of Newton’s elected officials and city staff, our partnership with local banks, and the determination of our Board of Directors and Executive Director. We expect our stability to continue to improve this year, largely because of our successful annual fundraiser in March. Please continue to support CAN-DO with a contribution either by check in the enclosed envelope or online at www.newtoncando.org. ank you, - Ken Sinclair, CAN-DO Treasurer Fall-Winter 2011 Newsletter Park House on Pearl Street Soon to be home to three low-income families

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Page 1: West Newton, MA 02465 PAID CAN-DO Financially Stable ... · CAN-DO 1075 Washington Street West Newton, MA 02465 SAVE THE DATE!! March 4, 2012 CAN-DO’s 9th Annual YIMBY Celebration

BOARD

Jane EisenstarkPresident

Kenneth J. SinclairTreasurer

Deanna ReidClerk

Lonna J. Carter

Michelle Hayes

Cindy Kane

Nina LeDoyt

James M. Thompson

Josephine McNeilExecutive Director

CAN-DO is managing to continue our modest success to create affordable rental housing opportunities for low-income families in spite of the precariousness of the economy. Our ability to forge onwards is due, in no small measure, to our loyal supporters. You provide funding for our ongoing operation and sustenance for our organization. The funding for developing the properties we purchase and renovate is provided by federal funds, Newton Community Preservation Funds, conventional mortgage financing and private foundations. Without your support, however, none of our success would be possible.

We’re happy to report that the Veteran House is fully occupied. Our second veteran family, a dad with three children, recently moved into the second unit. They are thrilled with their new home. After seeing the apartment for the first time, he was asked if he liked it and responded, “Are you kidding, what is there not to like?” This is a sentiment we hope all present and future residents share.

In October, with an eye toward the future, the Board of Directors and the Executive Director were joined by a member of the Advisory Committee and its bookkeeper at a retreat. The focus of the retreat was to develop a three-year strategic plan for the organization. You will hear more about this in the months to come, as there will be a role for you!

In closing the Board of Directors, the CAN-DO staff, and I wish you and your family good health and a joy-filled Thanksgiving and holiday season. With gratitude,

- Jane Eisenstark, President

News from the President

CAN-DO1075 Washington StreetWest Newton, MA 02465

SAVE THE DATE!! March 4, 2012CAN-DO’s 9th AnnualYIMBY Celebration

PRSRT STD US POSTAGE

PAID Boston, MA

Permit No. 869CAN-DO Financially Stable & Looking Forward

Financially speaking, CAN-DO operated “in the black” last year for the first time since 2007. All three of our operating activities, Housing Development, Rental Properties, and Administration, had small positive cash flow.

That’s a small, but important step for CAN-DO, which emerged from the 2007-2008 real estate crisis with significant losses. Many small non-profit developers would not survive such losses, but with extraordinary community support, CAN-DO has successfully restructured its debts and continued to carry out its mission: providing affordable housing for members of our community! With the opening of Veteran House this year, our portfolio of eight rental properties is financially healthy and is building reserve capital to fund future maintenance. Our project on

Pearl Street in Newton Corner has been approved and will begin construction shortly.

CAN-DO’s success is only possible with the generosity of our individual contributors, the commitment and support of Newton’s elected officials and city staff, our partnership with local banks, and the determination of our Board of Directors and Executive Director.

We expect our stability to continue to improve this year, largely because of our successful annual fundraiser in March. Please continue to support CAN-DO with a contribution either by check in the enclosed envelope or online at www.newtoncando.org.

Thank you,- Ken Sinclair, CAN-DO Treasurer Fall-Winter 2011

Newsletter

Park House on Pearl Street Soon to be home to three low-income families

Page 2: West Newton, MA 02465 PAID CAN-DO Financially Stable ... · CAN-DO 1075 Washington Street West Newton, MA 02465 SAVE THE DATE!! March 4, 2012 CAN-DO’s 9th Annual YIMBY Celebration

Citizens for Affordable Housing in Newton Development Organization, Inc.

Thank You From A Veteran House TenantWhen You Give, You Get!

On a meaningful day last year I met a woman in Starbucks and we had a nice conversation. Evidently, our working schedules were similar as I often ran into her. The woman turned out to be the Executive Director of CAN-DO, Josephine McNeil. Josephine shared with me the goal and mission of the organization as well as its achievements - 39 units of affordable housing in Newton.

I committed to help. At that time, we were working on the Veteran House, a two family unit located on Commonwealth Avenue. Thanks, again, to CAN-DO volunteers for painting and cleaning the unit, and to Newton’s Annual Volunteer Service Day for completing the landscaping. “Many hands made light work.” The house was beautiful!

In June, a young veteran who had returned from service in Iraq and her lovely, young daughter moved into their new home. They were thrilled, as were the volunteers who helped them set-up house. We’re happy for the mom who has since found a part-time job that can fit in with her National Guard schedule. In October, the second veteran family moved in, which included a father and his three children.

I joined the Board of CAN-DO just wanting to do good things for others. That makes me feel good. But imagine my surprise when I realized how much I had received, in return. I now have a circle of really good people with whom to work and socialize - fellow Board Members, long term

supporters, volunteers and some very nice tenants. I have participated in fundraising and social activities including a terrific Gala in March, dinners at participating restaurants where some of the proceeds were donated to CAN-DO, and a great summer barbecue where Board Members had the opportunity to visit with tenants.

I am very discriminating when deciding which organizations I will financially support. As I cannot contribute much, I like to know that my money is utilized effectively and not lost in administrative expenses as often happens. A bonus that resulted after becoming involved with CAN-DO, was to witness firsthand how the organization makes every penny count. We are able to achieve so much because of the people who feel the same way and support CAN-DO financially.

Do you feel you have something to contribute, but maybe you’re not be sure what it is or where to contribute it? Maybe it’s elbow grease (like me)! Do you ever get bored? Lonely? Do you wish you knew more of your neighbors?

Then now is the time to get involved, CONTRIBUTE and VOLUNTEER! Improve your own life, while you’re improving the lives of others! Help support CAN-DO!

- Michelle Hayes, Board of Directors

My name is Gidelina Pineda. On June 1, 2011, I moved into one of CAN-DO’s apartments at the Veteran House. The VASH (Veterans Affairs Supportive Housing)Voucher and CAN-DO gave my child and me an opportunity to no longer be homeless. To my daughter and myself the Veteran House unit is not just our apartment, it is our home. And, thanks to CAN-DO, my family could not be happier.

CAN-DO has done so much for us, we could never truly express our gratitude. They not only helped us to find a home, but also made it possible for us to have a warm bed to sleep in at night, as well as enjoy a furnished living room and kitchen supplies. CAN-DO welcomed my daughter and me with a house warming shower that included

Veteran House

contributions from local furniture suppliers and gifts from the community. These contributions ensure that we will never forget how wonderful it feels to be home.

CAN-DO has gone above and beyond. They welcomed us to this house and introduced us to friends in the community, local stores, and parks. They provided guidance and understanding in a very difficult time. The individuals that form CAN-DO make the organization a warm and wonderful place. Even my four-year-old daughter recognizes the CAN-DO folks by name and knows they are not just people, but friends. I never knew such a great organization existed, but now that I am aware of it, I am so glad I can be part of it.

Thank you CAN-DO and thank you Newton!- Gidelina Pineda, Newton Resident

Fundraising Past & Future

In the past year CAN-DO has held a variety of fund-raisers to benefit the mission of creating and maintaining affordable housing in the City of Newton. Our largest and most important event, CAN-DO’s Annual Gala, was held last March. The gala was a great success, with proceeds exceeding the year before by almost 25%! This was only made possible with the support of members of the Newton community. Thank you! At CAN-DO’s Annual Gala, the Pillar Award was presented to Kenneth Brennan, Chairman and CEO of The Village Bank for the bank’s financial support of CAN-DO’s affordable housing developments in Newton.

CAN-DO also held two smaller events at area restaurants: one at Not Your Average Joe’s in Watertown and another at Uno’s Chicago Grill

in Newton Corner. Each restaurant made donations based on a percentage of the total amounts spent by CAN-DO supporters. CAN-DO also participated in the “Shop for a Cause” at the Macy’s store in Natick. Thank you NYAJ, Uno’s, and Macy’s for supporting our community!

Please Save the Date of Sunday, March 4, 2012 when CAN-DO will celebrate its 9th Annual Celebration and Fundraiser - “Yes! In My Backyard!” at the Newton Marriott.

If you would like to participate in the planning and organizing of our fundraising events, please contact Cindy Kane at [email protected] or Josephine McNeil at [email protected] and thanks so much for your continuous support!

- Cindy Kane, Board of Directors

(617) 964-3527 [email protected] www.newtoncando.orgCan-Do Resident Family at Summer Barbecue