WASHINGTON, Sept. 13 /PRNewswire/ -- Thousands of fans filled the stands of the Verizon Center in Washington, DC this Saturday to watch some of their favorite athletes and other well-known celebrities duke it out on the basketball court for a very important cause -- reducing family homelessness in the DC area. They were there for Freddie Mac's Hoops for the Homeless(R) basketball tournament, headlined by basketball legend Earvin "Magic" Johnson. Washington Wizards All-Star Gilbert Arenas also joined Freddie Mac for this year's event, which raised $600,000 for six local homeless nonprofits providing support services to homeless families in the region.
Families with children continue to be among the fastest growing segments of the homeless population. In fact, nearly 12,000 individuals are homeless in the DC area, and close to half of those are families. Homelessness also affects the youngest members of society. A quarter of the region's homeless are children.
"Family homelessness throughout the DC region continues to be a serious problem. Given the economic times, families are even more stressed this year, making Hoops for the Homeless even more important. With the funds we've raised and the support of nonprofits throughout our region, we will continue to help more families move out of shelters and into homes," explained Ralph F. Boyd, executive vice president, Community Relations, Freddie Mac.
"I am thrilled to be back again this year to support Freddie Mac's Hoops for the Homeless. As someone who is deeply committed to helping create brighter futures for children and families, I am especially proud to be part of this important and needed event," said Earvin "Magic" Johnson.
This three-on-three tournament was a daylong event featuring round robin play with 38 area teams. In addition to Earvin "Magic" Johnson, other celebrities who participated in this year's Freddie Mac's Hoops for the Homeless(R) as celebrity coaches included Washington Wizards' Gilbert Arenas, former Washington Redskins' Tyronne Drakeford, Reggie Evans and Brig Owens and former Washington Senator Chuck Hinton.
"Homelessness is a first hand experience for me. I want children to grow up in a safe and happy environment and I want all families to be able to overcome hardships and get back on their feet and into a home of their own, much like my father did for me. Freddie Mac's Hoops for the Homeless is a wonderful event, and I am excited to be back again this year to help fight family homelessness," said Washington Wizards' Gilbert Arenas.
The $600,000 raised during this tournament will benefit six outstanding non-profits that work daily to help homeless families in need: Hannah House and So Others Might Eat (SOME) in DC; United Communities Against Poverty (UCAP) and Interfaith Works (formerly Community Ministry of Montgomery County) in MD; and Reston Interfaith and Securing Emergency Resources Through Volunteer Efforts (SERVE) in VA.
Many local companies and organizations also supported the cause by sponsoring the 2008 Freddie Mac's Hoops for the Homeless(R) event, including The Washington Post, NBC4, CBS Radio, Wells Fargo, Washington Mutual, Credit Suisse Securities (USA), FTN Financial, KPMG, Deutsche Bank, BB&T, JP Morgan, Citigroup, BNP Paribas, Fannie Mae, UBS Securities LLC, Goldman Sachs & Co., Merrill Lynch, and Morgan Stanley.
For more information on Freddie Mac's Hoops for the Homeless(R) or on the issue of homelessness, visit http://www.hoopsforthehomeless.org/.
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac raises capital on Wall Street and throughout the world's capital markets to finance mortgages for families across America. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters. For additional information about Freddie Mac, visit: http://www.freddiemac.com/.
