East Edina Housing Foundation
- Assets
- $12.0m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Edina, MN
- Founding
- 06/1986
- Data as of
- 12/2022
- EIN
- 36-3354189
Organization Overview
East Edina Housing Foundation is located in Edina, MN. The organization was established in 1986. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Edina Housing Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, East Edina Housing Foundation generated $3.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 53.4% each year . All expenses for the organization totaled $212.9k during the year ending 12/2022. While expenses have increased by 19.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE LOW AND MODERATE INCOME HOUSEHOLDS WITH A FINANCING TOOL SO THEY CAN ACQUIRE HOUSING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COME HOME TO EDINA
BUILDING ACQUISITION FOR FUTURE REDEVELOPMENT: 4040 WEST 70TH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Huggett President | OfficerTrustee | 4 | $0 |
Ann Swenson Vice President | OfficerTrustee | 4 | $0 |
Bernadette Hornig Vice President | OfficerTrustee | 4 | $0 |
Mary Kay Mcnee Secretary/treasurer | OfficerTrustee | 4 | $0 |
Jerry Gilligan Vice President | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $3,800,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,800,000 |
| Total Program Service Revenue | $58,151 |
| Investment income | $16,872 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$10,705 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,931,596 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $59,511 |
| Fees for services: Legal | $29,806 |
| Fees for services: Accounting | $2,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $32 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $212,899 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,185,560 |
| Savings and temporary cash investments | $1,365,636 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,528,133 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $410,827 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,470,123 |
| Total assets | $11,960,279 |
| Accounts payable and accrued expenses | $18,131 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18,131 |
| Net assets without donor restrictions | $11,942,148 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $11,960,279 |
Grants Awarded
Over the last fiscal year, East Edina Housing Foundation has awarded $233,804 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
HOME SR COMMUNITY SERVICE PURPOSE: Support the Housing and Outdoor Maintenance for the Elderly Program (H.O.M.E.) for senior citizens living in the EEHF neighborhood. Providing indoor and outdoor chore services on a sliding fee scale. | $16,902 |
BEACON INTERFAITH COLLABORATIVE PURPOSE: To support a new residence in Edina; Beacon Interfaith supports homeless youth in the community. | $100,000 |
HOME SR COMMUNITY SERVICE PURPOSE: Support the Housing and Outdoor Maintenance for the Elderly Program (H.O.M.E.) for senior citizens living in the EEHF neighborhood. Providing indoor and outdoor chore services on a sliding fee scale. | $16,902 |
BEACON INTERFAITH COLLABORATIVE PURPOSE: To support a new residence in Edina; Beacon Interfaith supports homeless youth in the community. | $100,000 |