Donation will fund repair and new construction projects in communities in South Florida and Puerto Rico
ATLANTA, Jan. 31, 2023 /PRNewswire/ -- Habitat for Humanity International announced today that it has received a $1 million plus donation from the Alvarez & Marsal Foundation, the philanthropic arm of the global professional services firm Alvarez & Marsal (A&M). The donation will help address long-term housing-related needs of low-income households affected by natural disasters in South Florida and Puerto Rico.
Over the next two years, the donation will fund 20 home repair projects, two new home construction projects, serving approximately 88 people in Englewood, Fla., San Juan and Ponce, Puerto Rico.
Tony Alvarez II, co-founder of Alvarez & Marsal, said, "We are delighted to join forces with Habitat for Humanity International and further the organization's initiatives in San Juan and Ponce, Puerto Rico and the town of Englewood in South Florida. A&M shares Habitat's commitment to supporting communities affected by disaster and offering help to those who live within them and hope in their darkest moments. We are honored to support Habitat's efforts to ensure the residents of San Juan, Ponce and Englewood can rebuild their homes and their lives."
Habitat for Humanity Puerto Rico continues to respond to destruction caused by Hurricanes Maria and Fiona, both of which caused deadly flooding and widespread devastation, and left millions of people in vulnerable situations. Within the municipalities of San Juan and Ponce, a large number of homes sustained significant damage from Hurricanes Maria and Fiona.
At least 40 percent of households within San Juan live below the poverty line, and 51 percent of households in Ponce. Many homes are self-built and not able to withstand the impact of a natural disaster. Habitat Puerto Rico will use the funding from the Alvarez & Marsal Foundation to help hurricane-affected families in San Juan and Ponce secure long-lasting, permanent housing and continue its hurricane response and recovery efforts.
Even before the devastation brought by the 2022 hurricanes, lower-income communities in South Florida were already experiencing a housing crisis. In Englewood, many families who were reeling from the destruction of Hurricane Ian experienced additional damage to their homes a month later from Hurricane Nicole.
Charlotte County Habitat for Humanity has been working in the Englewood community since 1987 and has helped more than 529 families achieve homeownership. With this funding, Charlotte County Habitat will have the capacity to repair and rebuild homes in the Englewood community.
"We are thankful to the Alvarez & Marsal Foundation for their commitment to families in Puerto Rico and South Florida who continue to face housing challenges," said Adrienne Goolsby, Habitat for Humanity International's senior vice president, United States and Canada. "When disaster strikes, it often leaves families in the most vulnerable and most unimaginable situations. The funding from the Alvarez & Marsal Foundation will bolster our efforts in long-term disaster response and recovery and enable us to better address disaster-related housing and shelter needs. We are proud to partner with the Alvarez & Marsal Foundation and look forward to creating solutions that will ensure homes and communities are built back stronger than before."
About Habitat for Humanity
Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in south Georgia. Since its founding in 1976, the Christian housing organization has since grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.
About Alvarez and Marsal
Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.
With over 7,000 people across five continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M's restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what's really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.
To learn more, visit: AlvarezandMarsal.com. Follow A&M on LinkedIn, Twitter, and Facebook.
SOURCE Habitat for Humanity International
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