In early 2013, Abt Associates Inc., as part of a larger evaluation of the Conrad N. Hilton Foundation’s Chronic Homelessness Initiative, prepared a detailed analysis of lessons learned from developing and launching the Collaborative: Home For Good Funders Collaborative: Lessons Learned from Implementation and Year One Funding. As the Funders Collaborative neared completion of its fifth year of facilitating public and private collaboration and joint investment in addressing chronic and veteran homelessness, the evaluation team from Abt revisited the work of the Collaborative. This report offers an analysis of the Collaborative’s evolution, current dynamics, and opportunities moving forward as of year five. For readers interested in launching a similar funding effort, both reports will be valuable.