Helping Neighbors.
Transforming Communities.
Reimagining Trajectories.

Way Finders FY2021 Annual Report

A Message From Our CEO

FY2021 At A Glance

Helping Neighbors

At Way Finders, we help people who are facing real challenges—with housing, jobs, money, and other cornerstones of daily stability—to find real solutions. We support, believe in, and lift up those in need.

We all need help sometimes

—to see our options, to see our way forward, to see hope for a better future. The right help at the right time? It can positively change the trajectory of someone’s life.

In our client's own words

We help people through a crisis

—to secure emergency housing, pay for housing, avoid eviction and foreclosure, keep utilities on, and recover from trauma.

In our client's own words

We help ease daily struggles

—via help to find a job and reliable daycare, manage money, access food, and make home modifications for greater accessibility.

In our client's own words

We help people work toward long-term goals

—for education and training, a higher living wage, economic stability, stronger credit, homeownership, and entrepreneurship.

In our client's own words

Transforming Communities

Way Finders helps revitalize places—equitably, sustainably, collaboratively. To drive big-picture change, we take big-picture actions: We partner, advocate, educate, build, manage, invest, activate, and inspire.

We drive change in the regional housing landscape: We finance, build, rehabilitate, and manage affordable rental properties across the region.

128 College Hwy, Southampton, MA 01073

Southampton Meadows

Southampton Meadows is a 40-unit senior housing property built in 1989. Way Finders acted as the nonprofit sponsor for this HUD 202 project and assumed responsibility for management in 2008. Refinancing through HUD/FHA provided capital for upgrades and repairs 2012.

96 PLEASANT STREET, NORTHAMPTON, MA 01060

The Lorraine

The Lorraine is a rehabilitated 28-unit historic building for single occupancy including two handicapped-accessible units and two commercial spaces. Completed in 2001, funding sources include City of Northampton CDBG, Housing Innovations Fund II, Housing Stabilization Fund Rehabilitation Initiative, and Federal Home Loan Bank of Boston’s Affordable Housing Program.

155 West Street, Northampton, MA 01060

Paradise Pond

Paradise Pond is a 12-unit family rental property, including four units for formerly-homeless families. Completed in 2006, funding sources include HOME, Housing Stabilization Fund, Housing Innovations Fund, CDBG, HUD Supportive Housing, Affordable Housing Trust, and Massachusetts Housing Partnership Fund.

155 Pleasant Street, Northampton

Live 155

70 units (studio and one-bedroom) offer ease of access to downtown, the bike path, and bus service. Includes 2,600 square feet of retail space.

180 Earle St, Northampton, MA 01060

Earle Street

Earle Street is a 16-unit rental property that includes 14 single person occupancy units and 2 apartments. All units receive project-based Section 8 rental assistance. Way Finders assumed property management responsibility in January 2012.

256 Pleasant Street, Northampton

Lumber Yard

55 units (one-, two-, and three-bedroom) at the site of the former Northampton Lumber Company property. Includes 5,400 square feet of commercial space.

82 Bridge Street

Sergeant House

31 affordable studio apartments - 15 renovated, 16 new. Valley Community Development has owned and operated this antique building (circa 1820) in Northampton since 1990 as a traditional 15-room Single Room Occupancy with 1 common kitchen and 4 common bathrooms. Prior to 1990, the building served as a family homeless shelter and a former lodging house. Located on a ½ acre lot in a high-income neighborhood in downtown Northampton.

71 Parsons Street, Easthampton, MA 01027

Parsons Village

Parsons Village is a 38-unit family housing property developed by Valley Community Development Corp in partnership with Way Finders and completed in September 2015. Funding sources include Low Income Housing Tax Credits, Affordable Housing Trust, Housing Stabilization Fund, permanent financing from Easthampton Savings Bank, TD Charitable Foundation Housing for Everyone Grant, and project-based Section 8 from DHCD.

50 Clinton Avenue and 1035-1037 Dwight Street, Holyoke, MA 01040

Dwight Clinton

Dwight Clinton is a 19-unit property developed in partnership with Housing and Economic Resources for Women, Inc. Sixteen of the units receive project-based Massachusetts Rental Voucher Program assistance and nine units provide permanent supportive housing for pregnant and young parents.

193-203 Chestnut and 210 Elm streets, Holyoke

Library Commons

38 units (two- and three-bedroom), plus community facilities, support services, and our Holyoke Housing Center.

13-15 Hamilton St, Holyoke, MA 01040

Verano

Verano is a 44-unit family rental housing property originally purchased by Way Finders and Nueva Esperanza in the mid-1980s. Way Finders re-capitalized and comprehensively rehabilitated the project with Low Income Housing Tax Credits, HOME, Affordable Housing Trust and permanent financing from Massachusetts Housing Partnership.

151 Walnut Street, Holyoke, MA 01040

Carlos Vega Townhomes

Carlos Vega Townhomes is an 18-unit property, providing housing for 18 farmworker families. At the request of the USDA, Way Finders developed the property in 1987 in partnership with Valley Housing Development Corp. The property was financed and continues to be subsidized by USDA Rural Development.

21 Campus Plaza Road, Hadley, MA 01035

Mountain View Apartments

Mountain View is a 25-unit senior and family housing property. Way Finders purchased and rehabilitated the property in 2003 with funding from USDA Rural Development.

85 Olympia Drive, Amherst

Olympia Oaks

42 units (one-, two-, and three-bedroom) of family housing within walking distance of downtown. Includes garden space and a shared community building.

12 Longmeadow Drive, Amherst

Butternut Farm

27 units (one-, two-, and three-bedroom) of family housing in a quiet rural setting with ease of access to surrounding towns via public transportation.

501 Newton Street, South Hadley

Plaza Apartments (In Development)

60 mixed-income units (one-, two-, and three-bedroom) featuring a suburban setting in proximity to services and amenities.

12 Chestnut St, Ludlow, MA 01056

Stevens Memorial Housing

Stevens Memorial Senior Housing is a 28-unit rental property redeveloped by Way Finders in an historic building originally used as a recreational facility for workers at the Ludlow Mills. Funding sources included HUD 202 as well as state funds consisting of HOME, Housing Stabilization Fund and Affordable Housing Trust Fund. These units were completed and occupied in the fall of 2014.

68-70, 76, and 84-88 Byers Street, Springfield, MA 01105

New Court Terrace

New Court Terrace is a 44-unit property located in three buildings. Substantially rehabilitated in 2005, funding sources include Low Income Housing Tax Credits, Historic tax credits, Weatherization Assistance Program, Lead-based Paint Hazard Abatement Program, HOME, and Affordable Housing Trust.

Springfield, MA 01105

Kenwyn & Quadrangle Apartments

Kenwyn and Quadrangle is a 60-unit, two property project redeveloped in 2015. Kenwyn Apartments include 27 units of affordable housing for families. Quadrangle Court Apartments include 33 family rental units.

68 Church Street, Ware, MA 01082

Church Street School

Church Street School is a historic school building converted into a 29-unit property for senior citizens and those with disabilities. Way Finders completed development in fall 2008. Funding sources included USDA 515, Low Income Housing Tax Credits, historic tax credits, Affordable Housing Trust, and HOME.

1–5 Ahrend Circle, Southwick, MA 01077

Ahrend Circle

Ahrend Circle Apartments is a 40-unit senior housing property owned by a local single-purpose nonprofit and managed by Way Finders since 2010.

586 Mill Street, Agawam

Rosewood Way Townhomes (In Development)

62 mixed-income units (one-, two-, and three-bedroom) in a suburban setting that is both walkable and commutable.

1 Royce Lane, Wales, MA 01081

Silver Meadows

Silver Meadows is a 20-unit, one-bedroom senior housing property developed and managed by Way Finders. Completed in 2000, the property was financed by the HUD 202 program and state resources, and is owned by a local non-profit, Silver Meadow, Inc.

239-247 Southbridge Road & 22-30 Harrington Road, Charlton, MA 01507

Woodland Walk Apartments

Woodland Walk is a 39-unit family housing property acquired by Way Finders in 2010. Way Finders assumed the existing USDA mortgages, and completely renovated the property using Low Income Housing Tax Credits, Tax Credit Exchange, HOME, and Affordable Housing Trust funds. USDA Rural Development also provides rental assistance for all units.

We activate resident leaders at the grassroots level

by helping residents of Holyoke and Springfield advocate for their neighborhoods.

What does that look like?

“I constantly remind people: ‘You have power, you have power.’ You have to claim your territory and not just stay inside.”

-Anna Cruz, Community Engagement Coordinator

“Being part of the Community Leadership Institute helped me to recognize and realize the skills I already possessed as a leader, and to understand that everyone can be a leader in different ways.”

-Yamaris Rivera, Holyoke community advocate

We champion the local economy

—for example, Way Finders’ subsidiary Common Capital responsibly lends money to entrepreneurs, especially those who face challenges in securing loans via conventional ways.

What does that look like?

“I have very successful friends who were willing to loan me money to grow my business. I went with Common Capital instead, because I want to show the blueprint to others in my community. Not everyone has friends and family with money, but they have access to Common Capital.

If you come to them with a solid business plan and financial projections, chances are they can work with you. It doesn’t matter what you look or sound like. Common Capital is a true community partner.”
-Myke Connolly, Owner of Stand Out Truck

We promote education and advocacy—through a housing lens.

The first step toward fixing problems? Identifying them. Who is burdened by the cost of housing? Where are inequities? Where could efforts make the most impact? What are the effects of the COVID crisis?

The Greater Springfield Regional Housing Analysis Report—produced by the UMASS Donahue Institute in partnership with Way Finders—is a multiphase effort to surface the region’s needs and opportunities.

Part 1 focused on housing production, affordability, and accessibility. It’s already helping lawmakers and housing advocates—such as by informing the distribution of American Rescue Plan Act funding ($4 billion).

Read the Study

A growing shortage of housing units

From 11,000 in 2021 to 19,000 by 2025

A heavy cost burden

More than half of renters pay 30% or more of income on housing

Racial disparities

30% of Black and Hispanic households own their homes vs. 70% of white households

We partner for impact

by collaborating with those who share our mission, such as accountable care organizations (ACOs), to bridge the connection between health and housing.

Learn More

“At C3, we recognize that addressing our members’ health-related social needs is key to helping them live healthy lives.

Individuals can’t recover from surgery or better manage diabetes if they are facing eviction or don’t have a healthy, stable home environment where they can cook healthy meals and store medication. Our partnership with Way Finders has provided our members with critical additional supports. Together, we are strengthening our neighbors’ health and well-being.”
-Kim Prendergast, Senior Director Social Health—Community Care Cooperative (C3)

Reimagining Trajectories

Upward. Forward. Toward better—for themselves, for their families, for their communities. Through their relationship with Way Finders, our client’s stories often unfold in ways they never dreamed possible. Such is the power of support, belief, and actionable information.

Client Stories

Five women. Five different paths.  One shared achievement: Homeownership!

Introducing Daisy, Frances, Iriana, Shakina, and Shari—all graduates of the Way Finders Family Self-Sufficiency Program, which flexes the power of long-term mentorship in the pursuit of economic stability.

At the heart of the Family Self-Sufficiency (FSS) Program? Inspiration and motivation—to make bold asks, to make bold moves, to make bold changes.
With full recognition that encouragement to set—and achieve—goals is essential. And that it takes time to bring about meaningful change. And that the journey—however long, however trying—is worth each step.

Designed to help recipients of a Section 8 Housing Choice Voucher to achieve economic stability over three to five years, the FSS program combines supportive guidance and expert mentorship—on everything from staying the course toward goals to managing finances and overcoming obstacles. And as a participant’s income and rent increase, an escrow account is established, too. All of which adds up to the confidence and resolve to reach higher and dream bigger.

This past year, a special cohort of FSS graduates reached a momentous milestone, during the most turbulent of times, within months of one another: They relinquished their vouchers as they assumed the new title of homeowner. Thanks to the support and information they received from the FSS Program over the course of several years, all were inspired to better manage money, improve their credit, and get their families to a place they’ve always dreamed of. All during the COVID-19 pandemic.

The program inspired one graduate to make a bold ask of her landlord, and another to move for the first time in more than 30 years. One graduate landed a better job, another pursued education toward a new career, and another found a way out of a living situation that felt intolerable.

FSS strong! Read their stories: Daisy, Frances, Iriana, Shakina, and Shari.

I am a placeholder call to action

Client Stories

“My five-year plan? Sky’s the limit! I want to help women like me, who’ve ended up homeless and feel like no one understands the stigma.”

Finding the space—physically, emotionally, financially—to rebuild.

When asked to sum up her experience with housing before she connected with Way Finders, Jessica Diaz, a mother of four, shakes her head at the memory: “It was just waitlist, after waitlist, after waitlist.”

Back in 2016, when success came Jessica’s way (“I had a really good job, I was getting paid salary”), she felt ready to leave low-income housing. Two years later, she lost her job. Other losses quickly followed: her car, her house, her family’s stability.

“We were homeless,” Jessica says. “I was jumping from place to place for nine months with four kids.”

Adding to the challenge? The waitlist to return to low-income housing was measured in years. “It was like I’d moved two steps forward, then took 10 steps back.”

In 2019, Jessica and her family moved into a Way Finders’ shelter. There, Jessica found the space—physically, emotionally, financially—to rebuild. She also found a network of support who share her goal: to never again experience homelessness.

Jessica’s accomplishments—landing a counseling job she loves, improving her credit—have sparked the desire to pursue other goals.

“My five-year plan? Sky’s the limit! I really want to pursue a degree in my field. I want to help women like me, who’ve ended up homeless and feel like no one understands the stigma,” Jessica says. “And I want to own my own house. I see myself having my bachelor’s degree, in my house that I bought, all thanks to Way Finders.”

Client Stories

A safe place to call home? It’s one where you can step outside and connect with neighbors.

Where you can relish the relief that comes from quiet, violence-free nights. Where you can regroup each day and catch your breath. Where you can safely live in the moment and purposefully plan for the future. Where you can watch—with more joy than stress—as your children grow.

These are aspects of daily life that all parents want and need for their families. But for Jetsabeth Rodriguez, a resident of Way Finders’ Butternut Farm in Amherst, they were not always a given.

At age 18, Jetsabeth was struggling to pay $750 in rent. Complications, obstacles, and a domestic violence situation led her to the point where she slept in her car for a week with her two children.

Today, Jetsabeth has a place she is proud to call home. “Me, as their mother, I see their happy faces. They want to be home all the time,” Jetsabeth says. “I know that by my living here, I’m going to be able to accomplish my goal of getting my house within three to five years. And I’m also gaining some trust in people. I’m beyond happy.”

Jetsabeth’s journey was shaped by a transformational experience with Way Finders’ Safe Step program, which provides 18-24 months of supportive housing to survivors of domestic violence. In addition to financial assistance with rent, Jetsabeth received guidance from staff members who grew to feel more like family. They also helped her find her way home to Butternut Farm.

In Praise Of Our Staff

In response to the great need for our work in fiscal year 2021, Way Finders grew its team by nearly 30%. Our 300+ staff members bring a wide mix of skills in pursuit of our mission: To build and advocate for a thriving, equitable region by positively transforming the trajectories of people and entire communities.

Financials

FY2021

Current Assets

$34,024,993

Fixed Assets

$3,216,825

Other Assets

$23,967,691

TOTAL ASSETS

$61,209,509

Current Liabilities

$22,939,266

Non-current Liabilities

$21,094,047

TOTAL LIABILITIES

$44,033,313

Total Liabilities and Net Assets

$61,209,509

Contributions

$4,554,192

Capital Campaign for Housing Center

$8,233

Grant Assistance Payments

$76,015,546

Grants-NeighborWorks America

$530,357

Contract Fees for Service

$22,189,350

Program Fees

$382,355

Other Income*

$5,624,666

TOTAL REVENUE

$109,304,699

Rental Assistance**

$49,751,890

Client Services

$44,594,838

Home Ownership

$706,047

Real Estate Dev & Property Mgmt.

$5,838,809

Administration

$2,767,488

Fundraising

$300,191

New Housing Center

$376,977

Rental Properties

$405,718

TOTAL EXPENSE

$104,741,958

Change in Net Assets - Operations

$4,562,741

Way Finders financials only (does not include subsidiaries)
* Property & Asset Management Fees, Developer Fees, Lending interest income & fees, Investment Income, Rental Income, Release from restriction combined, Gains on sale of property and MA tax credits, Debt Forgiveness
** Includes $44,753,049 in Rental Assistance Contract Funding Dispersed

Donors Way Finders 2021 Board of Directors

To all those who supported Way Finders in Fiscal Year 2021 (July 1, 2020 - June 30, 2021), we extend deep, heartfelt appreciation. Whether in support of our daily work—via programmatic and systemic operations—or our aspirations to grow and transform—via our capital campaign—your generosity propelled us forward. Our success, our reach, our impact on people and places—all were made possible by gifts from individuals, businesses, and foundations. Thank you.

Gladys and Ronald Abdow
Affordable Home Inspections
Carol Albano
Marta Alvarez
Andrew Associates
Anonymous
Edward Armstrong
Letitia Armstrong
Helen Douglas Arnold
Patricia Aslin
Associated Building Wreckers
Sarah Bachrach
Cynthia Baker
Andrew Balder
Baystate Health
Berkshire Bank Foundation
Ellen Berry
The Beveridge Family Foundation
Laureen Borgatti
Cheryl Bousquet
David Bowers
Paul Boyce
Elizabeth Boyle and Richard Norman
William Breitbart
James Broderick
Nancy Cabrera
Robert Castillo
Larry Cervelli
Citizens Bank
Margot Cleary
Denise Cogman
Community Foundation of Western Massachusetts
Mary-Beth and David Cooper
Country Bank
Lynn and David Barclay
Theodore Capuano
Robert Crowner
C&S Wholesale Grocers Trust
Deborah D'Amico
Daniel Dennis & Company LLP
Davis Square Architects
Beatrice Dewberry
Dietz & Company Architects
Dianne Doherty
Brenda Doherty
Robert Dorfman
Mary Beth Dowd
Peter Nicholas Elton
Donald Evans
John Fisher
Florence Bank
Jessica Fraga
Freedom Credit Union
Ellen Freyman
Peter Gagliardi
Susan Gagliardi
Peter Graham
Yesenia and Adam Greeff
Susan Gulluni
Haryiamo Haji
Felicity Hardee
Betsy Hayslett
Health New England
Jim Hickson
Mary Clare Higgins
J Lincoln Hirst II
Charles Hoag
HUB International
Annette Hunt
Irene E. & George A. Davis Foundation
Jewish Federation of Western Massachusetts
Diane Kleber
Klein Hornig LLP
Ann and John Klenakis
Mark Keroack
Ron Krakowiak
Allyson LaMondia
Elizabeth Levesque
Joyce and Stephen Lewis
Lexington Group, Inc.
James Linfield
Geoffrey Locke
Zach Longhi
Lori Lyon
Irene Madden
Alan Mallach
William Malloy
Madeline Martinez
Massachusetts Housing Investment Corporation
MassMutual Foundation
Michelle McAdaragh
Morgan McKinney
Deborah McPartlan
Luke Meyer
MLS Property Information Network
Chris Montemayor
Sandra Moore
Timothy Moriarty
Gwynne E. Morrissey
Rosemary Morin
Jasmine Matta-Naylor
Jarrett Moyer
NeighborWorks America
Betsy Nicoletti
Kelly O'Connor
Guthrie Olko and Susan Victoria Shire
Sol Pagan
Wendy and Richard Parrish
LeeAnn Pasquini
Susan Pegoraro
People's United Charitable Foundation
PeoplesBank
Preservation of Affordable Housing
Barbara Werum Richard
Deanne and Christopher Riddle
Jeanne Rinaldo
Araceli Rivera
Karena Rivera
Lidya Rivera-Early
Nancy Rivera
Ellen Rogers
George Rosa
Noelle Rosa
Brian Rossini
Thomas Rossmassler
Rudolf Steiner Foundation
Santander Bank
Jennifer Santos
Ramus Serrano
Shatz, Schwartz and Fentin P.C.
Colleen Shea
Kathleen M. Sheehan
James Sherbo
Amelia Silver
Erica Simonette
Grace Simonette
Carole and Timothy Sterritt
Sarah Szczebak
Megan Talbert
TD Bank Charitable Foundation
Pamela Tuohey
Erica and Charles True
Tufts Health Plan Foundation
Leonard Underwood
United Personnel Services
Ruth Vasquez
Edward Velez
Janette Vigo
Glenn Welch
David Wells
Westfield Bank & Chicopee Savings Bank Charitable Foundation
Eric Wilkins
Trevis Wray

Helping Neighbors. Transforming Communities. Reimagining Trajectories.

Way Finders FY2021 Annual Report

A Message From Our CEO

FY2021 At A Glance

Helping Neighbors

We all need help sometimes

We all need help sometimes

We help people through a crisis

We help people through a crisis

We help ease daily struggles

We help ease daily struggles

We help people work toward long-term goals

We help people work toward long-term goals

Transforming Communities

We drive change in the regional housing landscape: We finance, build, rehabilitate, and manage affordable rental properties across the region.

Southampton Meadows

The Lorraine

Paradise Pond

Live 155

Earle Street

Lumber Yard

Sergeant House

Parsons Village

Dwight Clinton

Library Commons

Verano

Carlos Vega Townhomes

Mountain View Apartments

Olympia Oaks

Butternut Farm

Plaza Apartments (In Development)

Stevens Memorial Housing

New Court Terrace

Kenwyn & Quadrangle Apartments

Church Street School

Ahrend Circle

Rosewood Way Townhomes (In Development)

Silver Meadows

Woodland Walk Apartments

We activate resident leaders at the grassroots level

What does such work look like?

We activate resident leaders at the grassroots level

“I constantly remind people: ‘You have power, you have power.’ You have to claim your territory and not just stay inside.”

“Being part of the Community Leadership Institute helped me to recognize and realize the skills I already possessed as a leader, and to understand that everyone can be a leader in different ways.”

We champion the local economy

Stand Out Truck

We champion the local economy

“I have very successful friends who were willing to loan me money to grow my business. I went with Common Capital instead, because I want to show the blueprint to others in my community. Not everyone has friends and family with money, but they have access to Common Capital.

We promote education and advocacy—through a housing lens.

A growing shortage of housing units

A heavy cost burden

Racial disparities

We partner for impact

We partner for impact

“At C3, we recognize that addressing our members’ health-related social needs is key to helping them live healthy lives.

Reimagining Trajectories

Client Stories

Five women. Five different paths. One shared achievement: Homeownership!

“My five-year plan? Sky’s the limit! I want to help women like me, who’ve ended up homeless and feel like no one understands the stigma.”

A safe place to call home? It’s one where you can step outside and connect with neighbors.

In Praise Of Our Staff

Financials

FY2021

Assets

LIABILITIES

Total Liabilities and Net Assets

REVENUE

EXPENSE

Change in Net Assets - Operations

Helping Neighbors.
Transforming Communities.
Reimagining Trajectories.

Five women. Five different paths.  One shared achievement: Homeownership!