U.S. Bank and foundation support affordable housing initiatives in California

Three notable Southern California nonprofit organizations receive a cumulative $1 million in funding

To help provide much-needed housing access for low- to moderate-income residents, the U.S. Bank Foundation is supporting the ADUgo program of Neighborhood Partner Housing Services (NPHS) in Southern California.

Crafted to offer an affordable solution for working families, ADUgo provides  financing for constructing factory-built accessory dwelling units, or ADUs – also known as granny flats, in-law cottages, man caves or she sheds.

ADUs are built on the property of an existing home and can offer an adaptable and cost-effective solution to increasing the supply of affordable housing across California, as well as potentially produce an income stream for homeowners who rent them out.

Serving Riverside and San Bernardino Counties for more than 30 years, NPHS is a nonprofit organization working to build equitable communities by creating innovative housing and economic solutions that advance the well-being of people, vitality of neighborhoods, creation of jobs and sustainability of the environment.

The dual-pronged strategy of offering affordable financing and the inherent affordability of factory-built ADUs can address the financial constraints faced by low-income homeowners. Recently, the U.S. Bank Foundation invested in the ADU initiative to help NPHS finance the building of more ADU low-income homeowners.

U.S. Bank and the U.S. Bank Foundation have a long-standing relationship with NPHS, and the foundation provided a $300,000 multiyear grant in 2023 to support first-time homebuyer education and access to affordable housing, including the ADUgo program.

In 2023, U.S. Bank was the title sponsor of the NPHS 30^th anniversary fundraising gala, and in 2024, U.S. Bancorp Impact Finance provided an investment loan to support its ADU expansion. Impact Finance senior project manager and underwriter Justin Baker serves on the NPHS board of directors as vice chair.

“Expanding access to affordable housing and affordable housing capital helps children, families and communities thrive,” Baker said. “Supporting organizations like NPHS means more people will have more options for finding a safe, stable place to call home.”

The support of NPHS is one way that U.S. Bank and the U.S. Bank Foundation are working to increase wealth-building opportunities for underserved communities, including low- to moderate-income communities and communities of color, with an emphasis on affordable housing development, homeownership and down payment assistance.

“Creating equitable opportunities for our community requires resources, and we appreciate the support from the U.S. Bank Foundation, which helps us continue to build and expand the innovative programs we’re proud to offer,” said Clemente Mojica, president and CEO of NPHS.

Two other recent notable contributions by U.S. Bank in support of affordable housing programs include:

• A $500,000 contribution to the LA Family Housing LAFHBuilds project, an initiative that advances LAFH's efforts to build and rehabilitate more inclusive affordable housing for low-income families and individuals experiencing homelessness in Los Angeles. This is in addition to a multi-year general operating grant from the U.S. Bank Foundation totaling $300,000.  
• A $100,000 contribution to Haven Services, an organization that offers housing counseling, financial literacy workshops and personalized coaching services with the goal of increasing homeownership accessibility in traditionally underserved, or low- to moderate-income Los Angeles communities. The mission of Haven Services is to financially empower vulnerable communities by providing no-cost financial education, and direct services to end financial and housing crises.

U.S. Bank Foundation is a tax-exempt private foundation described in section 501(c)(3) of the Internal Revenue Code. The Foundation is funded primarily through contributions from U.S. Bank National Association and its affiliates and subsidiaries. The Foundation’s mission is to close the gaps between people and possibility in the areas of work, home, and play.