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STRENGTH MATTERS® is an innovative collaborative and learning initiative among three national networks of nonprofit owners and developers in the affordable housing field. Sponsored by the Housing Partnership Network, NeighborWorks® America, and Stewards of Affordable Housing for the Future, it has built consensus on a range of sector-wide accounting and underwriting principles and practices, and piloted an unprecedented financial data platform to facilitate benchmarking and transparency in property financial reporting.
The STRENGTH MATTERS® CFO Working Group, comprised of CFOs from the three sponsoring networks, is working to ensure that financial statements better reflect the true strength of an organization and tell the corporate performance story in a shared language others can understand. Toward this goal, the CFO Working Group has published a series of white papers covering topics such as consolidation issues, developer fee recognition, cash presentation, and many more. These papers are an excellent best practices resource in accounting and financial reporting and are available, along with enterprise underwriting and investment case studies, on the Strength Matters website (www.strengthmatters.net).
Since 2009 STRENGTH MATTERS® has piloted the development of an unprecedented financial data platform (the Data Warehouse) to facilitate benchmarking and transparency in property and portfolio financial reporting for nonprofit housing. This pilot initiative will continue through 2015, after which Strength Matters will end its operations of the data warehouse. However, Strength Matters will continue to explore innovation across the nonprofit sector to advance our asset management capabilities and tools.