Copyright © 2017 Home Builders Care Foundation, Inc. - a 501 (c) (3) charity affiliated with the Maryland Building Industry Association.
The Maryland Center for Housing is a 10,000 sq. ft. two-story commercial building with office and meeting space. Located in Maple Lawn, the building is owned by the Home Builders Care Foundation, the official charity of MBIA and rented exclusively to the Association. Valued at nearly $1.8 million, the Center was constructed largely in part with in-kind donations of materials and labor, as well as cash donations, from many generous industry members. It was a remarkable achievement! BUT a $400K loan was needed to complete the building in 2014. This debt is impairing our foundation from productively meeting its mission.
When the building was developed, it was expected to be owned debt free; the rental income from MBIA to HBCF would then provide a stable,
long-term funding source to endow the Foundation and support its charitable activities for years to come. But alas, the mortgage on the Maryland Center for Housing has triggered unrelated business income taxes and the loan’s balloon payment due date is imminent.
A handful of naming rights are available and the opportunity for lasting recognition at the Center will end this year. The official Honor Roll Signage recognizing our building donors about $1,000 will be ordered and installed in our lobby by year-end. But to be listed on this MCH Honor Roll for permanent display, we do need your pledge in 2017.
THANK YOU TO OUR FIRST MAKE IT BURN HONOR ROLL PLEDGES for 2017!
Residential Title & Escrow Co. $15000 Caruso Homes $15000
Timberlake Homes $15000 Pettit Family Charitable Foundation $15000
Southern Trust Mortgage $7500 Orchard Development $5000
Rachuba Family Foundation $5000 Howard Bank $5000
Morris Ritchie Assoc. $5000 Harkins Builders $1000
Nine Naming Right Opportunities Remain (as of 6/1/2017)
Several Giving Levels With Recognition Benefits are available:
Payment plans available for top level gifts
Our Goal: Pay off our debt and burn the mortgage on 11-30-17