Private Transfer Fees Fund Public Charities

News provided by

Apr 10, 2023, 12:20 ET

AUSTIN, Texas, April 10, 2023 /PRNewswire/ -- Covenant Clearinghouse, the largest servicer of private transfer fees in the U.S., is pleased to announce a significant increase in charitable giving in 2022. This year, the organization focused on supporting non-profits that are addressing some of the most pressing challenges facing their community, including park land and open space, affordable housing, poverty, and healthcare.

2022 recipients include Guadalupe County Children's Advocacy Center, Casa of Denton County, Partners for Breast Cancer Care, A Wish with Wings, Kids First Health, Tarrant Area Food Bank, Utah Coalition Against Sexual Assault, Parks and Wildlife Foundation of Texas, Adams County Emergency Food Bank, Ellis County Homeless Coalition, Casa Tierra Affordable Housing, Casa of Ellis County, Disabled American Veterans, South Texas Food Bank, Meals on Wheels, Children's Alliance Center, Lifeline Pet Rescue, and more.

Not only do real estate developers who create large master-planned communities use private transfer fees to help lower the barrier to home ownership by spreading development costs, but every deed restriction must irrevocably allocate a meaningful portion of the assessment income to help support a wide range of non-profit initiatives in each community from which the funds originate. “We particularly like the symmetry of new homes providing funding for affordable housing”, said Joe Alderman, Managing Partner of Covenant Clearinghouse. “By providing much-needed funding - anticipated to exceed several billion dollars over the life of the private transfer fee obligations we currently administer - community organizations will be better positioned to expand their reach, grow their programs, and improve the quality of life in the communities they serve, all while reducing the burden on taxpayers,” he added.

Covenant Clearinghouse is committed to making a difference in communities across the country, and this funding will go a long way in achieving that goal. The organization looks forward to continuing to support non-profits in their efforts to make the world a better place.

For more information about Covenant Clearinghouse and its initiative, please visit their website at https://covenantclearinghouse.com/charities/

Shannon Everson
[email protected]

SOURCE Covenant Clearinghouse LLC