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THE AMERIDREAM CHARITY, INC ANNOUNCES MAJOR DONATION TO NEHEMIAH URBAN MINISTRIES FOR CONSTRUCTION OF ORPHANAGE IN MEXICO

Gaithersburg, MD (September 30, 2002) The AmeriDream Charity, Inc., the nation’s largest provider of down payment assistance for low- and moderate-income homebuyers, announced today that it is donating $100,000 to Nehemiah Urban Ministries, Inc. for the construction of an orphanage in Mexico.

AmeriDream’s contribution to Nehemiah Urban Ministries, Inc., an affiliate organization of the Nehemiah Corporation of California, marks the first time the nation’s two largest down payment assistance providers have collaborated on a charitable project.

“AmeriDream is excited to join together with Nehemiah Urban Ministries to achieve a common goal – helping underprivileged children,” said AmeriDream CEO Christopher Russell. “Both of our organizations share an extraordinary dedication to helping people in need. AmeriDream welcomes the chance to be a part of a project that will provide for orphaned children.”

In the three years since its founding, AmeriDream has helped more than 75,000 individuals and families buy their own homes – many for the first time – through The AmeriDream Downpayment Gift Program. Every month, more than 4,000 low- and moderate-income individuals and families achieve homeownership with down payment gifts from AmeriDream. These gifts never have to be repaid. Additionally, AmeriDream has contributed more than $1 million to charitable organizations. More than one quarter of those donations have gone to programs that specifically benefit young people. 

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The mission of The AmeriDream Charity, Inc., headquartered in Gaithersburg, MD, is to expand homeownership opportunities for underserved groups and promote the value of homeownership as the foundation for building strong communities and individual prosperity.   A 501(c)(3) organization, The AmeriDream Charity, Inc. meets HUD requirements as a down payment gift provider for FHA insured loans.  In addition to The AmeriDream Downpayment Gift Program, AmeriDream also operates The AmeriDream Redevelopment Program in the Washington, DC metropolitan area. Through its Redevelopment Program, AmeriDream has spent more than $8 million to rehabilitate properties and return them to the market at affordable prices. The AmeriDream Charity, Inc. has also donated more than $1 million to a range of community organizations, including Habitat for Humanity and the American Red Cross Disaster Relief Fund.