Center City Housing Corporation
- Assets
- $55.0m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 312
- Location
- Duluth, MN
- Founding
- 01/1987
- Data as of
- 09/2023
- EIN
- 36-3485584
Organization Overview
Center City Housing Corporation is located in Duluth, MN. The organization was established in 1987. According to its NTEE Classification (S80) the organization is classified as: Community Service Clubs, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Center City Housing Corporation employed 312 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center City Housing Corporation 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 09/2023, Center City Housing Corporation generated $9.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $11.5m during the year ending 09/2023. While expenses have increased by 8.1% per year over the past 8 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.
Since 2016, Center City Housing Corporation has awarded 35 individual grants totaling $2,766,409. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE AFFORDABLE HOUSING
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTIVE SERVICES - THIS PROGRAM CONSISTS OF THE SUPPORTIVE SERVICES PROVIDED TO RESIDENTS OF THE SAN MARCO, RIVER CREST, GAGE EAST, HILLSIDE APRTMENTS, GATEWAY, PARK PLACE, GARFIELD, CAHILL, BIRCHWOOD, MAYOWOOD, RIVER HEIGHTS, AND THE VARIOUS FAMILY SUPPORTIVE HOUSING PROJECTS OWNED BY THE CORPORATION, PLUS SILVER CREEK IN ROCHESTER (NOT OWNED BY THE CORPORATION). EXAMPLES OF SUPPORTIVE SERVICES INCLUDE BUT ARE NOT LIMITED TO CASE MANAGEMENT, EDUCATIONAL CLASSES, NUTRITION SERVICES, MEDICAL ASSISTANCE, BUDGETING ASSISTANCE AND SOCIAL SERVICES REFERRALS.
REAL ESTATE OPERATIONS - THIS PROGRAM INCLUDES THE OPERATIONS OF MULTIFAMILY RESIDENTIAL PROPERTIES. ACTIVITIES INCLUDE BUT ARE NOT LIMITED TO LEASE UP AND LEASING, OPERATIONS BUDGETING DEVELOPMENT AND IMPLEMENTATION, PROPERTY MAINTENANCE AND ASSET MANAGEMENT.
HOUSING DEVLOPMENT - THIS PROGRAM CONSISTS OF PROJECT FEASIBILITY ANALYSIS, PRE-DEVELOPMENT ACTIVITY AND DEVELOPMENT OF MULTIFAMILY RESIDENTIAL PROPERTIES. ACTIVITITES INCLUDE BUT ARE NOT LIMITED TO NEEDS ANALYSIS, SITE SELECTION AND SITE CONTROL, SCHEMATIC DESIGN, FUNDING IDENTIFICATION, BUDGET/PROFORMA DEVELOPMENT AND FUNDING REQUEST DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pete Johnson Board Member | Trustee | 1 | $0 |
Jo Ann Mattson Board Vice President | OfficerTrustee | 1 | $0 |
Karen Olesen Board President | OfficerTrustee | 1 | $0 |
Patty Whelan Board Secretary | OfficerTrustee | 1 | $0 |
Mary Butler Board Member | Trustee | 1 | $0 |
Archie Davis Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
New Horizon Food | 9/29/23 | $835,482 |
Hanft Fride Legal Services | 9/29/23 | $184,821 |
Human Development Center Supportive Services | 9/29/23 | $125,823 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $45,383 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,590,855 |
| All other contributions, gifts, grants, and similar amounts not included above | $229,593 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,865,831 |
| Total Program Service Revenue | $6,738,454 |
| Investment income | $59,607 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,663,892 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $342,973 |
| 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. | $576,706 |
| Compensation of current officers, directors, key employees. | $122,454 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,924,014 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $352,456 |
| Payroll taxes | $385,555 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $75,812 |
| Fees for services: Accounting | $111,071 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $222,218 |
| Advertising and promotion | $6,153 |
| Office expenses | $215,201 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $944,771 |
| Travel | $34,273 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,694 |
| Interest | $174,827 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,382,655 |
| Insurance | $261,982 |
| All other expenses | $41,466 |
| Total functional expenses | $11,548,012 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,057,960 |
| Pledges and grants receivable | $1,046,495 |
| Accounts receivable, net | $1,021,854 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $202,510 |
| Net Land, buildings, and equipment | $47,088,445 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $698,144 |
| Intangible assets | $0 |
| Other assets | $908,338 |
| Total assets | $55,023,746 |
| Accounts payable and accrued expenses | $4,967,174 |
| Grants payable | $0 |
| Deferred revenue | $71,965 |
| 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 | $48,492,536 |
| Unsecured mortgages and notes payable | $400,000 |
| Other liabilities | $397,622 |
| Total liabilities | $54,329,297 |
| Net assets without donor restrictions | -$1,008,816 |
| Net assets with donor restrictions | $1,703,265 |
| 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 | $55,023,746 |
Grants Awarded
Over the last fiscal year, Center City Housing Corporation has awarded $342,973 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MPA LIMITED PARTNERS II LP PURPOSE: RENTAL OPERATIONS | $60,888 |
OLMSTED COUNTY HOUSING & REDEVELOPMENT AUTHORITY (DBA SILVER CREEK APTS) PURPOSE: RENTAL OPERATIONS | $66,411 |
HILLSIDE APARTMENTS DULUTH LLLP PURPOSE: RENTAL OPERATIONS | $118,504 |
ROCHESTER YOUTH & FAMILIES LLLP PURPOSE: RENTAL OPERATIONS | $97,170 |