The government take over of mortgage Goliaths Fannie Mae and Freddie Mac, has many local non-profits worried the move will devastate the region's philanthropic community.

Jessica Forres reports…

LISTEN TO THE STORY THAT AIRED ON WAMU RADIO...

Linda Dunphy is the Executive Director of Doorways for Women and Families. Her organization runs a homeless shelter and she sits on theback porch...

IT'S IN A NEIGHBORHOOD, THERE ISN'T A SIGN OUT FRONT. IT LOOKS LIKE A HOME; IT MAKES A BIG DIFFERENCE AND SO IT LITERALLY AFFECTS THE WAY PEOPLE FEEL ABOUT THEIR FUTURE WHEN THEY WALK THROUGH THAT DOOR.

The shelter wouldn't be operating today without the Freddie Mac Foundation's financial support.

The government take over of the two mortgage giants has Dunphy and other local non-profits wondering about the future.

WE ARE ALL PRETTY CONCERNED ABOUT WHAT THIS POTENTIALLY COULD MEAN BECAUSE I DON'T SEE OUR LOCAL GOVERNMENT STEPPING IN TO FILL THIS GAP AND THE FEDERAL GOVERNMENT? WHO IS GOING TO FILL THAT GAP?

The gap she talks about is in the millions. Tamara Copeland is thePresident of the Washington Regional Association of Grantmakers.

BECAUSE THEY ARE BOTH HOME-BASED HERE. THIS IS THEIR ANCHOR. THEY HAVE DONE INCREDIBLE WORK IN THIS COMMUNITY AND WE JUST WANT IT TO CONTINUE.

Copeland says both enterprises contributed more than 60-million dollars to the community last year.

Jessica Forres WAMU 885 News
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With the government taking over mortgage giants Fannie Mae and FreddieMac, regional non-profits are wondering how the move will impact the philanthropic community.

Jessica Forres reports….

LISTEN TO THE SECOND STORY THAT AIRED ON WAMU RADIO...

In Arlington, Virginia, Linda Dunphy's non-profit organization runs a homeless shelter located in an upscale neighborhood.

THE HOME LOOKS LIKE IT FITS IN THE NEIGHBORHOOD. IT'S A NICE COTTAGE.

Dunphy is concerned about the home's future. Its largest funder is the Freddie Mac foundation.

I DON'T KNOW WHERE WE WOULD TURN TO REPLACE THAT SIGNIFICANT CHUNK OF FUNDING THAT MAKES THIS HOME POSSIBLE EVERY DAY.

Tamara Copeland is the President of the Washington Regional Association of Grantmakers.

THE WHOLE COMMUNITY IS WORRIED ABOUT THE IMPACT OF WHAT'S HAPPENING AT FREDDIE AND FANNIE. THEY MAKE AN INCREDIBLE CONTRIBUTION SO WE ARE ALL WAITING TO SEE.

Copeland says both enterprises invested more than 60-million dollars in the community last year.

Jessica Forres WAMU 885 News.