The Eric D. and Steven D. Hovde Foundation was founded in 1998 with two principal objectives: to assist the neglected, abused and vulnerable children of the world, and to fund research to find a cure for Multiple Sclerosis (MS). Its current focus is housing for abandoned, homeless children, called ”Hovde Houses”.
Eric’s extensive travels in developing countries alerted him to a population, indeed the most vulnerable, in desperate need of assistance: homeless children. While in Romania after the fall of communism, Eric and Steve witnessed firsthand the deplorable living conditions that thousands of young children were forced to face, as their state-run orphanages were shuttered. This experience led Eric to conceive of the Hovde House concept, and to connect with World Vision as a potential partner. With World Vision, Eric and Steve visited its programs in several countries, and along with teams of Hovde employees contributed many hours of hard labor, for example on the rebuilding efforts in Kosovo in 2001. (See video below.)
After considerable research and with the guidance of World Vision, in 2006 Eric selected Mexico City as the site of the first Hovde House, a home that would go on to provide supportive housing and supportive services to more than 50 homeless children.
Today, the Hovde Foundation has two operating Hovde Houses in Latin America and three in Africa. Our goal is to have twenty Hovde Houses over the next twenty years, adhering to the following philosophies:
Selection of suitable partners/locations: While there is great need to help children in every country, including the USA, we carefully select countries that are open to international involvement, not hostile toward American investment and where rule of law, children’s rights, and property rights are respected. Critically important in project selection is identifying an appropriate local partner who shares our approach to philanthropy with ample experience working with children and a business-minded focus on long term sustainability.
Sustainability: Our preferred project model, similar to the Ronald McDonald House concept, is to finance the construction or acquisition of a suitable home and retain title to the land and building. We team up with established local partners who are responsible for operations of each Hovde House. Hovde covers operational costs of the home over its first 2-3 years and then decreases funding as the local organization becomes sustainable without Hovde’s support, often through outside fundraising and development of revenue generating businesses that support the project. At such time, and assuming the local partner has fulfilled its role dutifully, Hovde will transfer ownership of the land and building to the partner organization at no cost.Social impact investing: We consider ourselves active social investors, not just donors. Taking a seat on the board of each partner organization, we often assume a leadership role and assist with fundraising, networking, and operational support. Depending on the partner’s strengths and experience, we help with project design, development and implementation through construction. Additionally, we will allocate resources to the development of local for-profit businesses geared to subsidize each project. This is a key factor to long-term success.
For more information, please contact Jeffrey Boyd, the Executive Director.