SELF ended its 9th year of operations with some exciting achievements and new opportunities that we are pleased to share with you. We would like to thank all of our investors, grantors and supporters for trusting us and helping us make our communities more sustainable and resilient, one home at a time.
Results:
- SELF’s loan activity grew 71% reaching an all-time record of $2.6 million in new loans.
- To date, SELF has helped 1,157 homeowners across Florida make multiple home improvements related to energy efficiency, clean (solar) energy, climate resilience and home adaptations for people with disability. In 2019 it also helped 37 homeowners in South Carolina.
- Over 77% of SELF clients are low-to-moderate income; 50% are women; 15% U.S. Veterans; 54% are elderly, and 10% of total loans deployed to date have been for people with disability.
- Energy efficiency upgrades have helped SELF clients save an average 26% on energy bills and overall, clean energy improvements have helped avoid over 1,000 metric tons of CO2 emissions into the atmosphere.
- SELF increased its total assets and net assets by 21% and ended with an operating surplus of $219,000.
- SELF increased its active loan portfolio by $1 million, helping increase our self-sufficiency to just shy of 60%
Expansion
SELF purchased a loan portfolio in South Carolina with 37 loans worth $223,000 from our partner MyStrongHome, to begin serving neighboring states vulnerable to climate impacts. SELF also exceeded $ 1million in lending in the Tampa Bay region with the support of the City of St. Pete and Hillsborough County who continue to support SELF’s operations.
Grants
SELF received a $5 million grant award from the JPMorgan Chase Pro-Neighborhood Competition as part of a collaborative, to implement the “South Florida Housing Link Plan” developed by the South Florida Community Land Trust. The project aims to ensure affordable housing options in perpetuity along the new railway transit stations being developed in South Florida. The collaborative comprised by SELF, the South Florida Community Land Trust, Enterprise Community Partners, South Florida Community Loan Fund, and the Palm Beach County Community Land Trust, will leverage the grant to $75 million in investments for 300 energy efficient and sustainable new and rehabbed affordable housing units. In addition, SELF will deploy 200 loans in South Florida and develop new loan products for “green” affordable housing rehabs and new construction in the next 3 years.
CDFI Fund Award
SELF was awarded $402,000 from the CDFI Fund to help provide low cost loans for disability modifications and green upgrades to people low-and-moderate income homeowners and people with disabilities. *The award was announced after the end of the FY 2019 and is not reflected in the current year end financials.
Awards
Sustany Foundation in Tampa, Florida awarded SELF a Sustainable Business award in the Private-Public Partnership category.
Mission related
SELF participated in the “Social Justice and Green Banks” panel at the first American Green Bank Summit in Washington D.C.
New Business
SELF signed a multi-year service contract with Martin County to help LMI communities make sustainable home improvements. SELF also developed a new septic-to-sewer conversion loan to help preserve the water quality in our communities.
Contractors
SELF grew its contractor network to over 350 contractors across the State of Florida.
Financial
SELF grew its assets and net assets 21% from last year and increased its total active loan portfolio by $1 million. SELF also closed its first $1 million line of credit with Bank United and renewed $650,000 in loans from our socially responsible and faith based-investors.