How much funding does Pay It Forward Program provide?

Pay It Forward Program provides Grants up to $50,000; Loans up to $250,000 in funding.

When is the deadline for Pay It Forward Program?

Applications are accepted on a rolling basis.

How often is Pay It Forward Program offered?

Pay It Forward Program accepts applications on a rolling basis.

Pay It Forward Program

National Equity Fund Inc

Foundation Rolling (Quarterly) Affordable Housing Grants Grants for Nonprofits Capacity Building Grants

Funding Amount

Grants up to $50,000; Loans up to $250,000

Deadline

Rolling (quarterly review)

Grant Type

Foundation

Deadline history & next window

Cycle: Rolling — applications accepted year-round
Tracked since: April 2026

Source: the cycle recorded on this listing. Confirm dates with the funder.

Can we apply?

Check your organization against each line. Taken from the listing; confirm with the funder's guidelines.

Other requirements

National (all states)
Participating developers may access PIF grants and loans to assist with completing any combination of the following approved uses necessary to apply for Low-Income Housing Tax Credits (LIHTC):
Site Acquisition
Architect Design

Overview

Funder: NEF Housing Charities, Inc. (affiliate of National Equity Fund)

Program Type: Recoverable grants and application assistance loans to support non-traditional developers

The Pay It Forward (PIF) program augments NEF and partner equity investments in non-traditional developers by providing flexible and patient capital bridge to tax credit applications and awards. Grants are recoverable and up to $50,000; loans are up to $250,000.

Eligible Uses

Participating developers may access PIF grants and loans to assist with completing any combination of the following approved uses necessary to apply for Low-Income Housing Tax Credits (LIHTC):

Site Acquisition
Architect Design
Surveys
Environmental Studies
Entitlements
Tax Credit Fees

Eligibility Requirements

Developer Profile Requirements:

Developer must have materially participated in the development activities of at least one completed LIHTC development as developer, co-developer, or have other transferrable real estate development experience acceptable to NEFHC
Developer has identified and is working on a specific LIHTC project
Developer is at the point of applying for predevelopment financing to assist with applying for a LIHTC allocation within the next 12 months
Note: Matching this profile does not guarantee eligibility for participation in PIF

Focus Areas

Low-Income Housing Tax Credit (LIHTC) development
Support for non-traditional developers
Predevelopment financing

Key Contact

Contact Information:

Email: Contact through nefinc.org
Phone: 312-360-0400
Website: nefinc.org

How to Apply

Application process and materials not specified on the website. Applicants should contact the key contact directly for application instructions and requirements.

Contact for Application Information

Lydia Smith, Managing Director

Phone: 312-360-0400
Email through: nefinc.org/impact/pay-it-forward-program/
General Contact: Contact Us at nefinc.org

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What National Equity Fund Inc actually gave

Source: IRS Form 990, 2024

Grants in 2024: 3
Total given: $17.45M
Median grant: $40K
Range: $15K–$17.4M

By dollars: New York >99%, California <1%, Illinois <1%. Top recipient cities: New York, NY; North Hills, CA; Chicago, IL.

Example grants

Local Initiatives Support Corporation · New York, NY

Support community development

$17.4M
Abbey Road Inc · North Hills, CA

Support low-income housing development

$40K
Chicago Rehabilitation Network · Chicago, IL

Support low-income housing development

$15K