A mix of philanthropic capital and government rental subsidies could close the housing gap that leads hundreds of emancipated foster care youth into homelessness each year, according to a study commissioned by seven California charitable foundations.
A financial model depending partly on grants and partly on moderate-return investments from the more than $100 billion in endowments held by the major foundations could produce enough dedicated housing to provide stability for the 1,140 youths leaving foster care each year, the study found.
But it would not be an easy lift. Revenue to support the financing would rely on a quilt of public subsidies that currently fall short of the estimated operating costs of the housing. The difference would have to be made up by legislative enhancements or more foundation giving.
