The Fannie Mae Foundation, a long-time and generous supporter of initiatives aimed at ending homelessness and increasing affordable housing in D.C., announced its closure early this year, with activities winding down by the end of 2007.

This year also marks the 20th anniversary of the Help the Homeless Program, by far the Foundation’s most visible initiative in the District of Columbia. The Foundation has assured participating organizations and the public that its annual Walkathon is scheduled for November 17, but uncertainty over what happens after that has left some beneficiary organizations on edge.

Micah House, a transitional home in the Petworth neighborhood for women with histories of substance abuse, relies heavily on the Walkathon for operating funds. “The walk covers about 40% of our budget,” said board member Ed Lazere, “so we would be in dire straits without it.”

Fannie Mae was quick to insist that the Foundation’s closing did not signal a retreat from its commitment in D.C.. Indeed, the financial services firm has now established an internal corporate branch to deal with community and charitable giving, headed by the former president of the Foundation.

For small programs and services in the D.C. metropolitan area, funds raised from the Walkathon can be key to their operations. Last year’s walk saw 120,000 walkers descend on the National Mall in an event which raised $8 million for 180 area organizations in D.C. and surrounding communities.

The Samaritan Ministry of Greater Washington gets about 15% of its operating budget from the Help the Homeless Program. Charles C. James, Samaritan’s Director of Communications and Volunteers, was optimistic about the new approach to corporate giving. “If anything, we believe that the internalization of Fannie Mae’s corporate giving will help organizations like ours develop more cooperative partnerships and greater long-term solutions for the city’s homeless,” he said.

Fannie Mae has said it will expand the Help the Homeless Program to five other American cities, but which ones, and whether the Walkathon will continue, remain unclear.

The Foundation has historically supported more than just homeless initiatives in D.C., aiding building projects in Katrina-devastated New Orleans, for example.

And three key focus areas have been identified by the firm’s new internal charitable branch: building thriving neighborhoods in the district through investments in housing, education, homelessness and other areas; addressing the nation’s housing challenges through housing and community development initiatives; and advancing efforts to end homelessness in America.

“Uncertainty is never a good feeling when your organization’s budget is concerned”, said the Samaritan Ministry’s James. “But we largely feel that Fannie Mae has demonstrated its good will in the community through the Help the Homeless Program and we see no evidence that it will entirely abandon a focus so closely aligned to its housing initiatives.”