The Gelt Foundation, a nonprofit organization that provides rental assistance to qualified apartment tenants who are facing eviction, has changed its name to Resident Relief Foundation.
The new name is a better fit with the organization’s plans to scale its efforts nationwide, the nonprofit explained Monday in a statement. Founded last year by Keith Wasserman and Damian Langere, co-founders of Tarzana-based multifamily real estate investment firm Gelt Inc., the organization has raised more than $90,000 and provided 41 grants to renters to date.
“We found that our original name for the foundation was communicating the message that our family of Gelt companies was the main funding source for the organization,” Wasserman said in a statement. Though the company is an active donor in its operations, broadening the reach of the concept will require the support of others throughout the real estate industry, he said.
The Resident Relief Foundation provides grants to tenants who are behind on rent due to unforeseen financial emergencies, such as a serious illness or the death of a family member. Prospective recipients can either contact the organization themselves or are referred by their landlord, who confirms that they otherwise have a good rental history. Upon accepting the grant, the tenant is enrolled in financial literacy classes to prevent future emergencies.