The financial model allows us to renovate and provide housing to our residents at an affordable and equitable standard every time. This allows us to work with our residents to determine affordability on a case-by-case basis.
Hearth & Ethos exists to make affordability permanent—by owning and operating homes that serve people, not profits.
We acquire and renovate single-family homes, then reinvest rental income into supporting families and expanding access to stable, dignified housing.
The Financial Model
Step 1
Purchase housing
Step 2
Renovate housing
Step 3
Place residents in homes
Social Initiatives
The social initiatives arm of the organization then works to support and equip our residents to move from survival to self-sufficiency with programs like financial literacy, credit repair, youth engagement, mental health counseling, career development, and more.
Step 4
Assign resident a coach
Step 5
Needs assessment & goals
Step 6
Equip for home ownership
Finance
Whether we like it or not, finances play a major role in our lives. We must learn to have a healthy relationship with money and make the best decision for ourselves and our families. With a lofty goal to lift communities out of poverty, Hearth & Ethos is focused on ultimately helping residents move into homeownership and begin to build generational wealth. Our finance portion of social programming is the most specific, with three areas of focus:
Budget Analysis
Coaches assist residents with analyzing their current budget upon entry into the program, make suggestions, and create six-month and one-year projections to monitor and evaluate. The resident and the coach create goals together to be pursued over the course of the year.
Financial Literacy
Through partnerships with certified financial coaches and volunteer teachers, Hearth & Ethos utilizes viable and proven financial literacy materials to assist residents with budgeting, saving, debt management, and overall wealth-driven principles. The resident’s needs assessment guides the resident and their coach in determining the most suitable goals and timeline to achieve those goals. Ultimately, the intention is to foster a healthy relationship with money and to empower the resident to reach their lifelong dreams through deeper financial knowledge and sustainable financial practices.
Credit Repair
Through partnerships with certified credit repair counselors, Hearth & Ethos assists residents with creating and implementing a plan that leads to a healthy relationship with debt and a sustainable credit score. The resident’s needs assessment guides the resident and their coach in determining the most suitable goals and timeline to achieve those goals. A minimum score of 640 is desired before exiting the credit repair program.
Family
Hearth & Ethos believes that part of providing affordable and equitable housing is ensuring that every member in the family - whatever the family makeup looks like - feels safe and secure in their home. It is not enough to simply provide the physical structure of a home, but it is just as important to focus on the elements of “place” that give families opportunities to make memories, form bonds, and enjoy abundant living. Haven Home crafts a “family plan” with every resident based upon the needs assessment and resident goals. Through meaningful partnerships, pop-up programming, and resource-sharing, Hearth & Ethos creates opportunities for residents to participate in skillshare/lifestyle classes, community events, youth programming, and individual/group therapy.
Studies continuously affirm that when community members are unable to find and maintain stable housing, it is increasingly more difficult for them to focus on future goals and potential changes in life that we all desire. Perhaps a resident would like to go to college or technical school, or get their HVAC certification. Some residents look forward to getting their GED and their driver’s license, starting their own business or learning a new trade. Whatever it may be, Haven Home coaches work with residents to dream about the future and begin to make goals and take tangible steps towards making those dreams a reality.
Future
Learn how to invest in us”By combining capital finance and social good, Haven Home Foundation works to build a compassionate market-based solution to the affordable housing crisis.