Diversified Financial Services
Company Overview of Freddie Mac Foundation
Freddie Mac Foundation is a charitable organization that supports and promotes children, youth, and their families living in the Metropolitan Washington area. The organization's community action policies focus on strengthening families, youth development, and foster care and adoption. Its Corporate Giving program provides funding to support programs in early childhood education and school-age education. Freddie Mac Foundation was founded in 1991 and is based in McLean, Virginia.
8250 Jones Branch Drive
McLean, VA 22102
Founded in 1991
Key Executives for Freddie Mac Foundation
Chief Executive Officer, President, Director
Compensation as of Fiscal Year 2014.
Freddie Mac Foundation Key Developments
Freddie Mac Announces Earnings Results for the Third Quarter of 2014
Nov 6 14
Freddie Mac announced earnings results for the third quarter of 2014. For the quarter, the company posted net income of $2.1 billion far smaller than the $30.5 billion it earned in the third quarter of 2013. But the year-earlier amount reflected an accounting move that allowed Freddie to capitalize on tax benefits it had saved up from its losses on mortgages during the financial crisis. Earnings can fluctuate widely due to changes in interest rates and home prices.
Freddie Mac Foundation Reports Earnings Results for the Fourth Quarter and Year Ended December 2013
Feb 27 14
Freddie Mac Foundation reported earnings results for the fourth quarter and year ended December 2013. For the quarter, the company reported net income of $8.6 billion. Profit reported nearly doubled from earnings of $4.5 billion in the last three months of 2012. Earnings were boosted by the continued rise in home prices, which reduced the amounts the company had to set aside to cover losses on mortgages. Profit reported nearly doubled from earnings of $4.5 billion in the last three months of 2012.
For the full year, the company reported profit of $48.7 billion benefited from the increase in home prices as well as the company having capitalized on the tax benefits of the sour loans it absorbed during the crisis. The 2013 earnings rose sharply from $11 billion in 2012.
Freddie Mac Foundation Announces Executive Changes
Oct 1 13
Freddie Mac Foundation has named James Mackey as its new chief financial officer, replacing Ross Kari, who announced plans to retire in December. Mackey, 46, is currently chief financial officer at Ally Financial. Mackey will start at Freddie Mac November 11, 2013.
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