Strategic Plan

Evernorth

Strategic Plan

2024 - 2029

Dear Community,

The numbers are staggering. Maine, New Hampshire, and Vermont each need between 20,000 – 40,000 homes to meet population estimates by 2030. The urgency, complexity, and impact of this problem cannot be overstated. When we created Evernorth’s predecessor organizations decades ago, the state governments in Maine, New Hampshire, and Vermont recognized the importance of attracting investment and development to the region. We’ve spent 35 years doing that and more.

As a nonprofit organization and an affordable housing leader in Northern New England, we understand our unique role in this ecosystem. We balance investor interests and risk with urgent state and local housing needs. We thoughtfully guide our partners through the intricacies of tax credit syndication, financing, development, and asset management. We help shape and support federal and state public policy. And our focus remains squarely on building long-term capacity to ensure stable, quality housing throughout northern New England.

With this strategic plan, we embark on a new chapter in our history. The plan is grounded by our vision and mission, position in the market, performance, feedback from our partners, and emerging issues, trends, and opportunities.

Sincerely,

NANCY OWENS
CO-FOUNDER & PRESIDENT, EVERNORTH
Our Four

Strategic Priorities

Maximize Effectiveness

Stabilize and streamline current operations and systems to assure that as we build new programs, all parts of the organization flourish.

DESIRED OUTCOMES

  • Our partners regard us as responsive, supportive, and reliable with exceptional expertise, service, processes, practices, and support.
  • Our collective effectiveness is expanded by strengthening relationships with partners through shared purpose, engagement, trust, respect, outcomes, and accountability
  • Our team is able to do more, better, and with greater effectiveness through improved internal operations.

HOW WE WILL DO IT

  • Implement measures that will result in superb value-added customer service.
  • Develop and strengthen key relationships through systematic in-person outreach and supporting materials.
  • Identify and address the biggest roadblocks for our team in meeting the needs of partners and optimizing job effectiveness.
  • Incorporate clear and comprehensive communication that allows us to effectively tell our story.

Invest In Our Team

Invest in professional development and growth so that we have the skills needed to deliver on our goals.

DESIRED OUTCOMES

  • Our team is equipped to be successful in this fast-paced, rapidly changing environment and is known to be among the best in the sector.
  • Our staff feels welcomed, engaged, supported, and respected.

HOW WE WILL DO IT

  • Create a culture that values and shares knowledge to foster organizational resilience.
  • Offer ongoing professional development opportunities that support individual ability to grow and contribute.
  • Offer ongoing training opportunities that support individual ability to grow and contribute.
  • Act systematically and with measurable outcomes to retain top talent by establishing a diverse, welcoming, high-performance organization.

Expand Opportunity

Diversify and grow our capital, including patient loan capital from new sources, so we can offer financial products our partners need, as well as organize our T.A. and Consulting work to add value to the regional network regarding climate change, finance, operations, and development.

DESIRED OUTCOMES

  • Strengthen the financial position of Evernorth.
  • Secure new approaches and new resources to respond to the unique needs of low-income residents in northern New England, both urban and rural.

HOW WE WILL DO IT

  • Set 5-year equity and debt fundraising targets and identify the external assistance and internal capacity needed to achieve it.
  • Provide a robust array of financial and technical services that our partners need.
  • Expand relationships with potential banking, business, and philanthropic partners to increase flexible funding to assist partners.
  • Engage in key federal and state policy initiatives which benefit affordable housing production and operations and lead to better outcomes for the Evernorth portfolio and its residents.
  • Maintain support for, and engagement with, the affordable housing coalitions in all three states.

Advance Equitable Healthy Planet Solutions

Continue to align our real estate development, syndication, lending and energy work as well as our portfolio for a healthier planet.

DESIRED OUTCOMES

  • In our spheres of influence we will minimize environmental impact, maximize decarbonization, improve energy efficiency, and promote equitable solutions for low- income residents.

HOW WE WILL DO IT

  • Define and set decarbonization and energy efficiency targets for Evernorth’s work.
  • Maximize opportunity with new federal funding for decarbonization and support developers in efforts to decarbonize.
  • Advocate with federal and state partners for sufficient resources to achieve decarbonization goals and impact on operating costs.
  • Engage in state and federal policy that reduces greenhouse gasses, increases climate resilience, and advances energy justice.
  • Develop a shared language for Evernorth regarding climate change and energy justice.

Financial Impact & Analysis

As Evernorth seeks to increase its mission impact in the region, it must achieve sustained financial performance, provide appropriate compensation and benefits, and retain a solid balance sheet from which to support its non-revenue generating activities.This strategic plan is designed to sustain a positive financial trajectory while strengthening our mission impact.

Strengthening Evernorth’s financial position requires sustained profitability of our three major business lines

Evernorth

Vision

People in every community have a safe space to live and opportunities to thrive.

Mission

We work with partners to connect under-served communities in the northern New England region with capital and expertise to advance projects and policies that create more inclusive places to live.

Values

MISSION DRIVEN

We act with strategic courage, strive for excellence and hold ourselves accountable to creating equitable and sustainable communities.

INCLUSIVE

We cultivate communities by listening to our internal and external stakeholders, creating space for all to be seen and belong.

INTEGRITY

We honor our commitments and build and maintain trust through transparent communication and mutual respect.

RELATIONSHIP CENTRIC

We seek transformational change through relationships centered on respect, trust, collaboration and balance.