Todmorden Foundation

What Todmorden Foundation does

Todmorden Foundation is a non-profit foundation headquartered in Wilmington, Delaware, created in 2014 by Woodlawn Trustees, Inc. to carry forward the affordable-housing legacy of Quaker industrialist William Poole Bancroft. The foundation directly owns and manages an affordable rental housing portfolio in Wilmington spanning three programs: The Flats, a $100 million, 7-phase redevelopment of more than 450 residential units on the West Side that began in 2015 (with 326 of 453 planned homes complete as of Phase V); Todmorden East, approximately 120 units on the East Side plus a 2025 city-funded rehabilitation of 20 homes and new Bennett Street units; and the Bancroft Legacy, the historic brick houses and 1,300+ acres of preserved parklands originally developed by Bancroft.

Revenue is generated almost entirely through monthly rental income from tenants who qualify under federal income guidelines (rent capped at 30% of household income, with utilities included under Delaware rules), with Section 8 housing choice vouchers accepted. Applications and interest-list intake are handled through a channel partnership with HDC MidAtlantic, while Todmorden serves as the direct landlord. The portfolio is supplemented by amenitized features (air conditioning, WiFi, security cameras, energy-efficient systems, off-street parking) and resident services including 24-hour maintenance, on-site support, and a community center.

The business model is philanthropic and capital-intensive rather than profit-maximizing: the foundation is governed by a Board of Trustees, has a headcount of 1-10 employees, and relies on a combination of philanthropic capital, city funding (including a $30 million East Side award in 2025), and rental cash flow to execute its phased redevelopment pipeline. There is no venture capital, private equity, or public ownership; the foundation operates as a mission-locked steward of affordable housing in a single city.

Name

Todmorden Foundation

Legal name

Todmorden Foundation

Website

https://todmordenfoundation.org

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1–10 employees

Short description

Todmorden Foundation is a Wilmington, Delaware non-profit founded in 2014 by Woodlawn Trustees to provide affordable rental housing, managing 450+ units across The Flats, Todmorden East, and historic Bancroft Legacy properties for low-income households and Section 8 voucher holders.

Ownership category

akta.pro rank

Product category

Affordable Rental Housing

NAICS

Residential Building Construction (2361)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Affordable Housing & Community Development (Housing, Community Land Trusts) (BPAGALAC)

akta.pro secondary industries

Homelessness Prevention, Shelter & Supportive Housing Services (BPAIANAC), Residential Affordable Housing Development & Construction (IMAFABAI)

Keywords

• Affordable rental housing
• Nonprofit housing development
• Community stabilization
• Historic property renovation
• Resident support services

Headquarters

HQ city

Wilmington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Others

Revenue model

1. Rental Income: The foundation generates revenue through rental payments from tenants in its affordable housing units. Federal guidelines define affordability as housing costing no more than 30% of household income. The organization accepts Section 8 vouchers, providing rental income through government housing assistance programs.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Todmorden Foundation is a non-profit foundation that develops, renovates, and operates affordable rental housing in Wilmington, Delaware. It oversees The Flats neighborhood (a 450+ unit, $100 million, 7-phase redevelopment), Todmorden East (approximately 120 affordable rental units with rehabilitation programs), and historic Bancroft Legacy properties. Units are rented to income-qualified tenants at no more than 30% of household income, with Section 8 vouchers accepted.

Product overview

Todmorden Foundation is a non-profit organization offering a portfolio of affordable rental housing programs in Wilmington, Delaware. The portfolio consists of three main offerings: The Flats (a $100 million, 450+ unit redevelopment project on the West Side), Todmorden East (120 affordable rental units and rehabilitation projects on the East Side), and The Bancroft Legacy (historic properties and conserved parklands established by William P. Bancroft). The organization also accepts Section 8 vouchers and provides on-site support services, 24-hour maintenance, and community center access.

Differentiator

Problem solved

Functional benefit

Products and services

• The Flats A $100 million affordable rental housing redevelopment on Wilmington's West Side, comprising over 450 residential units (low-income apartments, row houses, and senior housing) delivered across 7 phases. Includes modern amenities such as air conditioning, dishwashers, WiFi, security cameras, off-street parking, 24-hour maintenance, on-site support services, and a community center. Rented to income-qualified tenants; Section 8 vouchers accepted.
• Todmorden East Affordable rental housing program on Wilmington's East Side, comprising approximately 120 units located between 7th and 14th Streets and French Street and Church Street. Includes a foundation-led rehabilitation effort for 20 homes and planned new 2-3 bedroom units on Bennett Street with energy-efficient amenities, serving low-income tenants in collaboration with the City of Wilmington.
• The Bancroft Legacy Historic affordable housing properties and preserved parklands originating from William Poole Bancroft's (1835-1928) philanthropic vision, including 350 brick houses with private gardens along a parkway and more than 1,300 acres preserved as parklands (now part of Delaware's first National Park and Brandywine Creek State Park).

Quantifiable outcome

• Prior to renovation, residents were paying more for heating than for rent due to uninsulated row homes. Post-renovation reduces utility costs significantly.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• HDC MidAtlanticcoreChannel Partner/ Reseller/ DistributorTodmorden partnered with HDC MidAtlantic on The Flats redevelopment project. HDC MidAtlantic handles applications, interest lists, and provides information to prospective tenants. Contact: 302-656-0801 or 302-384-7596, [email protected].
• Woodlawn Trustees, Inc.coreStrategic or Co-development PartnerTodmorden partnered with Woodlawn Trustees, Inc. on The Flats redevelopment project. Woodlawn Trustees is the parent organization that created The Todmorden Foundation in 2014 to be dedicated to affordable housing.

Scale indicators7 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Preservation of Affordable Housing (POAH): Nonprofit that preserves and operates affordable rental housing across the U.S., including historic and workforce housing. Closely matches Todmorden's stewardship of historic, affordable properties and its long-horizon rehabilitation approach.
• The Community Builders: Mission-driven nonprofit developer and operator of affordable rental housing across multiple states. Directly comparable to Todmorden as a similarly structured nonprofit landlord developing mixed-income, affordable, and supportive housing for low-income families.
• BRIDGE Housing: Nonprofit affordable housing developer that builds, owns, and manages affordable rental housing primarily on the West Coast. Mirrors Todmorden's model of nonprofit-owned, mixed-income rental housing developed in phases for low-income and working-class residents.
• The NHP Foundation: Nonprofit operator of affordable and supportive rental housing serving low- and moderate-income families, seniors, and vulnerable populations. Directly comparable in mission, tenant segments, and Section 8-accepting operating model.
• WinnCompanies: National multifamily property manager with a large affordable and Section 8 housing portfolio. Comparable as an operator of subsidized affordable rental housing serving low-income households.

Others

• Local Initiatives Support Corporation (LISC): Community development financial institution that finances affordable housing and neighborhood revitalization. Related as a capital provider and ecosystem participant supporting nonprofit housing developers like Todmorden, though not a direct operating peer.

Broad incumbents

• Mercy Housing: One of the largest U.S. nonprofit affordable housing developers, operating affordable and supportive rental housing nationwide. Overlaps with Todmorden in mission and tenant base but at much larger scale.
• Enterprise Community Partners: Large national nonprofit developer and financier of affordable housing, with extensive development and asset management capabilities. Operates in the same space but at significantly greater scale and geographic breadth than Todmorden.
• Habitat for Humanity International: National nonprofit that builds, rehabilitates, and advocates for affordable housing. While more focused on homeownership, it operates in the same affordable-housing provision space with comparable mission and capital deployment.
• Volunteers of America: Large nonprofit providing affordable and supportive housing along with a broader suite of human services. Comparable in mission (housing for vulnerable populations) and Section 8-accepting operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/todmordenfoundation
• Facebookfacebook.com/TodmordenHousing
• Xtwitter.com/todmordenfound
• LinkedInlinkedin.com/company/todmorden-foundation

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Todmorden Foundation