• Home
  • Press Releases
  • The Patterson Foundation Purchases 1 Million Dollars in Charlotte County Habitat for Humanity Mortgages

The Patterson Foundation Purchases 1 Million Dollars in Charlotte County Habitat for Humanity Mortgages

January 22, 2021
SARASOTA, Fla. (January 22, 2021) – The Patterson Foundation, in collaboration with Northern Trust, is buying $1 million in Charlotte County Habitat for Humanity mortgages to provide liquidity to boost affordable homes for people in our region. The one-time purchase will give Charlotte County Habitat for Humanity the capacity to build 70 homes over the next two years, helping more local families and individuals achieve the dream of homeownership.

The COVID-19 pandemic has created significant financial trauma for many in our region, impeding their ability to provide their family with a safe, dignified place to live. This has dramatically increased demand for Charlotte County Habitat for Humanity’s ongoing work to construct, rehabilitate and preserve homes for families and individuals in need.

“Charlotte County Habitat for Humanity has a proven track record of building safe, comfortable places for people in our region to call home,” said Debra Jacobs, president and C.E.O. of The Patterson Foundation. “This one-time purchase leverages our current market conditions to provide the liquidity necessary for Charlotte County Habitat for Humanity to secure land and construct more much-needed affordable housing.”

The Patterson Foundation and Charlotte County Habitat for Humanity have previously collaborated on several successful initiatives in our region, including the Legacy of Valor campaign, which honored our region’s veterans and military families, and Margin & Mission Ignition, which helps nonprofits explore new ways to build thriving organizations with diverse revenue sources.

“Charlotte County Habitat for Humanity is extremely grateful to The Patterson Foundation and Northern Trust for investing in the Habitat mission during these challenging and unprecedented times,” said Mike Mansfield, C.E.O. of the Charlotte County Habitat for Humanity. “The affordable housing crisis continues to grow in our community, and this partnership allows us to meet the needs of more families by providing them with safe, decent, affordable homes. What a blessing!”

Northern Trust has engaged with Habitat for Humanity in communities nationwide over many years through its commitment to sustainable, affordable homeownership. Northern Trust and The Patterson Foundation will make no profit on this purchase.

“Northern Trust is pleased to collaborate with The Patterson Foundation and support Habitat for Humanity in their mission to support the Charlotte County community during these challenging times,” said John Fumagalli, Florida President at Northern Trust Wealth Management.

Visit charlottecountyhfh.org to learn more about Charlotte County Habitat for Humanity.

About The Patterson Foundation
The Patterson Foundation strengthens the efforts of people, organizations, and communities. The Foundation focuses on issues that address common aspirations and foster wide participation, along with ways organizations learn and share as they evolve. For more information, please visit thepattersonfoundation.org and connect with @ThePattersonFdn on Twitter.

About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families, and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East, and the Asia-Pacific region. As of September 30, 2020, Northern Trust had assets under custody/administration of U.S. $13.1 trillion, and assets under management of U.S. $1.3 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity, and innovation. Please visit our website or follow us on Twitter.

Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Please read our global and regulatory information.


Share This Page