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 $500K loan was needed to complete the building in 2014.
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 in 2018.
A 2017 MORTGAGE BURNING CAMPAIGN. was launched. Our goal is to raise enough funds to pay off our debt and burn our mortgage on 11-30-17 at a special donor appreciation event. Get invited! Help us Make it Burn!
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 MAKE IT BURN HONOR ROLL PLEDGES for 2017!
Residential Title & Escrow Co.
Pettit Family Charitable Foundation
Southern Trust Mortgage
Rachuba Family Foundation
Morris Ritchie Associates (MRA)
Bob Mowrey - mortgage services
Bob Ward Companies