Technical expertise, experience and mentorship are among the reasons a nonprofit affordable housing developer might form a joint venture with a for-profit developer. In this week's episode of the Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Lance Smith, CPA, discuss these advantages, opportunities, risks and challenges faced by nonprofit housing developers when they partner with for-profit developers. Smith and Novogradac discuss access to greater resources and working capital, issues around material participation and tax-exempt use property complexities, among other topics. The episode is a companion to the May 6, 2025, episode, which explored the inverse: When for-profit developers partner with nonprofit developers. Learn more about the relationship between the partners with the Novogradac Nonprofit Housing Developers Handbook released earlier this year.